From Home Furnishing Business
Global Bedroom Furniture Market to Top $125B by 2020
London-based Technavio analysts expect the global bedroom furniture market to exceed $125 billion by 2020, growing at a compound annual growth rate (CAGR) of more than 3 percent during the forecast period.
Technavio’s lead consumer and retail market research analysts have identified the following four factors that will drive global bedroom furniture: evolving home and living concept, innovation in design, omni-channel retailing, and advertising and brand associations.
“The profit margins in this segment are high primarily because most homes have more than one bedroom,” said Brijesh Kumar Choubey, a lead research analyst for Technavio. “One key area for potential growth is the children’s bedroom furniture sector, which is currently growing at a steady rate.”
Technavio is a global technology research and advisory company. It develops more than 2,000 pieces of research every year, covering more than 500 technologies across 80 countries.