Overview: Over the past decade, world furniture
trade in 70 major countries, home to roughly three fourth of the world’s
population has grown hand in hand with the furniture manufacturing business.
Furniture trade and manufacturing occupies a significant position in the global
trade and manufacturing market. However, Furniture
Industry Analysis suggests that it has witnessed a downturn in its
increasing trend in the last 2 years. This could be attributed to various
factors such as Brexit, change in international trade policy of the new US
administration or even stagnancy in furniture industry developments. Furniture
Market Research Reports highlight that the major countries importing
furniture are United States, Germany, the United Kingdom, France and Canada.
Export on the other hand saw a major change with Vietnam surpassing USA in the
list of major exporters.
Market Trend: There is no doubt that furniture is
not a dynamic industry and does involve some level of stagnancy in its
products. That said some companies like Haworth are actually trying to
incorporate technological advancements in their furniture manufacturing
business in order to tackle the dynamic environment. In order to overcome this
paradigm shift Haworth has come up with a new product ‘Bluescape’ which offers
virtual work spaces and eliminates the need to purchase costly boards,
projectors etc. and allows dispersed teams to organize, design, decide, share
and deliver on team or collaborative projects. In USA and countries of Europe,
another similar kind of technology that has surfaced into the furniture
industry is Virtual Reality. In order to improve consumer engagement furniture
manufacturers and dealers are in demand of more and more VR content. By doing
it allows the manufacturers to digitize their products and create digital
assets to improve their efficiency. VR technologies tend to use digital assets
(3D models) in order to create interactive virtual work spaces. This technology
allows companies to show their customers entire set of production collections
without maintaining huge inventories. Such 3D models also enable them to
highlight product features and display product concepts. Dealers create entire
virtual showrooms and virtual tours that consist of real life like environments
designed to connect with customers. This also benefits the consumers as they
can now access the virtual environment 24/7 with the simple use of a desktop or
a virtual reality headset.
Competition: Furniture dealers and manufacturers
have been keeping an eye for the best partner in order to ensure their
consumers the best augmented/virtual reality experience. Ashley Furniture
Industries, North America’s largest furniture retailer is closely working with
Merxent, a leader in augmented and virtual reality for products and spaces.
IKEA has partnered with Apple to take advantage of apple’s augmented reality
services in USA and countries of Europe. SERVEX US and sayduck are some other
AR/VR companies working on similar concept of redefining furniture industry.
Conclusion: Over the years we are seeing a shift
away from cubicles to open desks and café tables or other flexible yet multiuse
work spaces. With concepts such as activity based planning, instead of a single
space that fits the needs of many worker, Augmented and Virtual Industry enable
workers to decide their working space on their own that would allow them to
work at their best.
For more
information, click on the link below:
Contact Us:
Ken Research
Ankur Gupta, Head Marketing &
Communications
0124-4230204
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