India News
Increased Digitization: The e-retail business in India is
being boosted by technology improvements, such as the availability of
high-speed internet networks, like 4G, and increased adoption of smart devices.
Customers were able to purchase furniture more easily through online channels,
as a result of these improvements. Furthermore, the growing number of
smartphone users in India, as well as online shopping, is driving the furniture
manufacturers to market their products through online channels.
Emergence of New Players: Growing popularity of online shopping is encouraging
furniture manufacturers, such as Godrej Furniture, Nilkamal, and others, to
introduce and sell their products online. For example, Nilkamal's flagship
brand @Home, a prominent offline retailer of prefabricated furniture products,
has launched an online shopping facility for its exclusive selection of @Home
furniture, furnishings, and home decor items. Moreover, Swedish furniture
behemoth – IKEA recently entered the market.
Growing Government Support: As India strives to become a
worldwide manufacturing hub, key initiatives, such as "Make in India"
and "Vocal for Local," have boosted the manufacturing sector,
including furniture manufacture. The Government of India's Make in India
project intends to raise the manufacturing sector's proportion of the country's
GDP to 25% by 2025. Furthermore, in August 2019, the government approved 100%
FDI in contract manufacturing via the automated route, boosting the sector's
growth.
Work from Home Culture: One of the primary factors driving
the growth of the work-from-home furniture market is an increase in the demand
for multifunctional furniture. Companies are likely to introduce a hybrid work
model, with employees continuing to work from home for some of the time. This
will help to maintain demand for furniture for working at home, such as laptop
tables, study tables, etc.
Analysts at Ken Research in their latest
publication
“India Online Furniture
& Home Décor Market Outlook to FY'2027 - Driven by Expanding
Customer Base and Increasing Government Initiatives to Promote Furniture
Industry” believe that the Online
Furniture & Home Decor market in India is expected to experience positive
growth owing to the growing demand for the office furniture, increasing
e-commerce market coupled with the surge in the penetration of smartphones and
growing internet users in the country. The market is expected to register a
positive CAGR of 36.8% in terms of revenue during the forecasted period
2021P-2027F.
By Product Category
Furniture
Furnishings & Home
Decor
By Furniture Items
Beds
Sofa Sets
Dining Furniture
Chairs & Tables
Others
By Furnishings & Home Décor
Textiles (Linen,
Curtains, Cushions & Covers)
Table Décor & Wall
Décor
Mattresses
Lighting
Others (Spiritual, Flooring, etc.)
By Region
Tier 1
Tier 2
Tier 3
By Commercial/Personal Usage
Personal
Commercial
Request For Sample Report @ https://www.kenresearch.com/sample-report.php?Frmdetails=NTM2Mjk3
India Online Home
Décor Market Companies Covered:-
Pepperfry
Home Town
Home Centre
At Home by Nilkamal
Godrej Interio
Urban Ladder (Reliance
Retail)
IKEA
Space Wood
Durian
Key
Target Audience:-
Online Home Décor
Companies
E-Commerce Marketplace
Platform
Retail Companies
PE and VC Firms
Time
Period Captured in the Report:-
Historical Period – FY’2016-FY’2022
Forecast Period –
FY’2022-FY’2027
Key Topics Covered in
the Report:-
India Furniture &
Home Décor Market Overview
Key Furniture
Manufacturing Clusters
India Online Furniture
& Home Décor Market Overview
India Online Furniture
& Home Décor Market Size
India Online Furniture
& Home Décor Market Segmentation FY’2022
India Online Furniture
& Home Décor Market Growth Drivers
India Online Furniture
& Home Décor Market Trends & Developments
India Online Furniture
& Home Décor Market Government Role and Initiatives
India Online Furniture
& Home Décor Market Logistics Constraints
India Online Furniture
& Home Décor Market SWOT Analysis
Competitive Landscape
of India Online Furniture & Home Décor
India Online Furniture
& Home Décor Market Cross Comparison
India Online Furniture
& Home Décor Future Scenario
Future Market Size and
Segmentations, FY’2022-FY’2027F
Covid-19 Impact on
India Online Furniture & Home Décor
Analyst
Recommendations
Case Studies
For More Information
on the research report, refer to below link:-
India Online Furniture and Home Décor Market
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