London, 12 June 2015: Technavio, the independent tech-focused global research firm, has published a report on the contract furniture and furnishing market in Europe 2015-2019, which is expected to grow at a CAGR of 4.68% during the forecast period of 2014-2019.
Various factors like increased construction in Europe, recent technological developments, greater internet penetration, and enhanced sales and distribution propel market growth in Europe during the forecast period.
Steady growth of the market can also be attributed to the rise in GDP and population in Europe, growing real-estate industry, and increasing demand for affordable furniture from large enterprises, hotels, and universities that are seeking improved quality and durability in the furniture they use.
“Customers are seeking simple decorative elements with clean lines on the furniture. From smooth and textured finish, there has been a shift to metallic colors, such as silver, copper, gold, titanium, bronze, and brass,” says Faisal Ghaus, Vice President of Technavio.
“This trend shows a classic blend of form and function. The designs available for contract furniture have more variety compared to retail furniture, as the former caters to various types of end-users.”
Key Market Drivers:
- Need to Comply with Safety and Health Standards.
- Durability and Longevity of Contract Furniture.
- High Price of Firsthand Furniture.
- Improved Sales and Distribution Channels.
Key Market Trends:
- Increased Popularity of New Designs and Metallic Effects.
- Shift from Use of Wood to Plastic and Metal.
- Development of Multifunctional and Technologically Driven Furniture.
- Rise in Demand for Eco-friendly Furniture.
Key Market Vendors:
- Argos Ltd.
- Haworth Inc.
- Kinnarps Holding AB
To define the market circumstances in the next 3-4 years, Technavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
https://www.technavio.com/%3Cp%3EIf%20you%20are%20interested%20in%20more%…
