As per Technavio, the increase in the number of strategic alliances and partnerships will have a positive impact on the market and contribute to its growth significantly over the forecast period. This India furniture market 2019-2023 research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
India furniture market: Increasing number of strategic alliances and partnerships
One of the key trends in the India furniture market is the increasing number of strategic alliances and partnerships between vendors across the world. For instance, key vendors such as Herman Miller had actively engaged in M&A in the last decade. One of its key acquisitions was of Design Within Reach. Currently, several vendors are focusing on improving operational efficiency to provide an extensive range of services such as home delivery, along with the offering of end-to-end furniture solutions, to become global lifestyle brands. The India furniture market is expected to witness more strategic alliances in 2019 and during the forecast period.
India furniture market: Segmentation analysis
This market research report segments the global furniture market by product (home furniture, office furniture, other commercial furniture) and geographical regions (APAC, Europe, North America, South America, and MEA).
The APAC region led the market in 2018, followed by Europe, North America, South America, and MEA respectively. During the forecast period, the APAC region is expected to maintain its dominance over the global market and register the highest incremental growth due to the onset of urbanization and increasing disposable income in the region.
Some of the key topics covered in the report include:
Five Forces Analysis