South Korea Smart Furniture Market Report and Forecast 2024-2032

South Korea Smart Furniture Market Outlook

The South Korea smart furniture market is expected to grow at a CAGR of 9.1% between 2024 and 2032. Due to rising disposable income, consumers' lifestyles are altering substantially in South Korea. People are increasingly relying on technologically connected products, which make their lives easier at home and workplace. In the upcoming years, this will help propel the smart furniture market in South Korea.

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Key Trends in the South Korea Smart Furniture Market

Smart furniture has incorporated technology that increases its utility beyond its conventional usage. They use modern technologies including touchscreens, USB charging connections, speakers, and motion-activated features. Additionally, some even have sensors that turn on features according to the users' preferences.

Various Innovative Features, Convenience and Automation are Bolstering the Demand for Smart Furniture in South Korea

South Korea is a developed country with a strong inclination towards innovation and technology, which is increasing the demand for smart homes in the country. With the rise of the Internet of Things (IoT), more people are shifting towards smart homes as they seek smart furniture and other smart devices to make their lives easier and more comfortable. The ease of use and automation allows users to control the furniture according to their preferences with their voice commands or smartphones. Moreover, features like a pre-installed fitness tracker, charging points, music, lighting, and temperature control, among others, are helping to attract more consumers.

Ergonomic Designs and Sustainability are Gaining Traction in Smart Furniture Market

The ergonomic designs of modern smart furniture enhance human function and comfort, lowering the risk of musculoskeletal disorders, back related difficulties, joint pain, neck discomfort, arthritis, and high blood pressure. Other factors such as demand for eco-friendly and sustainable furniture, rising disposable income, and high living standards also aid the market growth of smart furniture in South Korea.

Market Analysis

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Based on product, the South Korea smart furniture market is segmented into smart desks, smart tables, and smart chairs, among others. On the basis of end user, the smart furniture market of South Korea is divided into residential and commercial. Based on distribution channel, the South Korea smart furniture market is bifurcated into offline and online.

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the South Korea smart furniture market, covering their competitive landscape and latest developments like mergers, acquisitions, investments and expansion plans. 

• Hyundai LIVART Corporation

• Inter IKEA Systems B.V

• Yelim Comfurni,Inc

• Koninklijke Philips NV

• Others

Market Share by Product

A smart desk can improve productivity and well-being in a home or workplace. Long durations of sitting are harmful. By moving up and down, smart desks prevent users from sitting for too long, allowing them to sometimes stand up without interfering with their work. whereas intelligent chairs are made to promote the health and comfort of their users. They have technology that automatically adapts to the size, shape, and body weight of users. Some even include features for heating, cooling, and even massage.

Smart tables come with a variety of functions, including USB charging ports, lighting, and built-in smart speakers. Some even have refrigerator and freezer sections that are always stocked with food, drinks, and ice. Some even allow users to operate Bluetooth devices via an integrated touchscreen. Innovative features that are convenient also bring forth efficiency that can reduce energy use. Long-term automation of homes and offices and energy efficiency may be achieved with the help of smart furniture and fixtures linked to a smart hub.

Market Share by End User

Both the commercial and residential sectors are gradually growing in South Korea. The commercial sector is witnessing a great demand for smart furniture, such as smart chairs, desks, conference tables, and advanced cabinets, which is one of the primary factors driving the growth of the smart furniture market in South Korea. Both segments are becoming more popular due to the efficiency and convenience these products offer. In the residential sector, smart beds, tables, chairs, and lighting, are very popular. In the commercial sector, these products are getting popular due to features such as wireless charging, interactive screens, and sensors. Factors such as longer working hours also aid the market's growth.

Market Share by Distribution Channel

The sale of smart furniture is growing on online distribution channels as it gets easier to compare the price and features of various products online. Various brands sell on e-commerce platforms, and some sell through their own websites. Offline stores are still popular because customers can inspect the products and their features by themselves, and they also provide a more personalised shopping experience. During the forecast period, both distribution channels are anticipated to grow in the South Korea smart furniture market.

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Competitive Landscape

Hyundai LIVART Corporation- The company Hyundai Livart Co., Ltd. manufactures furniture. The business sells a variety of furniture items, such as beds, couches, dining tables, office desks, bookcases, partitions, closets, doors, and windows. Hyundai Livart Co.,Ltd. distributes its goods under the brand names LIVART, Neoce, LivingSys, and Kitchen. The business is situated in the South Korean province of Gyeonggi-do in Yongin. Hyundai Livart Co., Ltd., earlier known as Livart Furniture Co., Ltd., was established in 1999.

Yelim Comfurni, Inc- Yelim Comfurni, Inc. manufactures and markets innovative system furniture by fusing office and educational furniture with IT automation technologies. Their main goals are convenience and safety, and by developing different furniture with new values based on IT technology, users and persons with disabilities may use it comfortably. The ideal goal is to enhance the quality of life and the working environment by catering to consumer wants. The company was established in the year 1996.

Key Highlights of the Report