India Online Furniture and Home Décor Market has witnessed a Strong Growth Trajectory Backed by Competitive Technological Advancements: Ken Research

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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.

Key Segments Covered:-

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

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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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