The industry of furniture is growing rapidly with the development in the technology and the technology of internet of things (IoT) transform this industry in a dynamic manner. Moreover, the e-commerce companies in this industry playing a significant role and making investments in the new projects related to the more innovations in this market. In research it is observed that in the coming years the technology has brought smart phones, watches and even smart refrigerators to the market, but the newest innovation in the Internet of Things may be smart furniture. The first furniture Internet of Things exhibition in China and resulted in blending together leading international internet of things technologies. According to the report analysis, ‘Furniture Market Research Report’ the internet of things can be widely applied in the traceability, marketing, sales and promotion of furniture.
The industry of furniture is going to introduce new innovations and with the internet of things technology are far from developed, they are beginning to enter the furniture sector, chairs, desk and even kitchen surfaces to ever growing internet of things. Moreover, applications of Internet of Things in the furniture sector include bedding. The market of furniture industry is extensively benefitted with the internet of things technology as this technology allows customers to control them remotely. Moreover, the internet of things is the idea that technology in homes can be connected to one network. Beacons are the broad category of the internet of things sensors with many useful application. With the help of Beacons the retailers can track customers with smartphones are in a specific physical context, provide discounts and sharing information directly to their smartphones. Therefore, smart use of beacons can target customers and encourage them to spend more on the furniture. According to the report analysis, ‘Market Research Reports for Report’ the market of furniture is expected to grow in the coming years with the more innovations in the technology. Most of the innovative furniture is being developed and outsourced by e-commerce giants like Amazon. In the developed countries the internet of things technology is prevailing significantly and companies offer numerous types of furniture with the help of this technology. Additionally, with the applications of internet of things the market is growing significantly with the synchronization of online.
With the extensive usage of online technology and due to effectiveness in the applications of internet of things in the market of furniture make the sector more profitable and money making whereas more adoption of advanced IoT technologies including the Cloud City platform and the Z-code technology is a good news for the companies outside Asia pacific region which majorly help British companies who wants to come in this market for acquiring huge market share. Moreover, in the coming years it is expected that the region of Europe and Asia will be the two main leading players with the attractive innovations in the furniture.
Advanced micro devices (AMD) Inc., Fujitsu Ltd., General Electric (GE), Juniper Netwoks, Inc., Micron Technology Inc., Microsoft corporation, Nokia Corporation, Oracle Corporation, Kaspersky Lab are the some major key players which are currently functioning in this market in an efficient manner where as Microsoft Corporation is dominate a huge market share globally followed by Fujitsu Ltd and Nokia Corporation. IBM Corporation and Intel Corporation is also expected to acquire handsome amount of share in the market in the coming years with the more innovation the technology and make the furniture more attractive and efficient.
With the more innovations and application of an existing technology the market of furniture of Southeast China has become more competitive in the recent trend and welcomes the new entrants. In addition, the new entrants are support to the market financially which result attractive opportunities for both the companies and consumers. Therefore, it is expected that in the coming years the market of furniture is going to grow rapidly over the decades with the improvement in the technology and applications of internet of things.
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Ankur Gupta, Head Marketing & Communications