Artificial Intelligence
Global Smart Furniture Market Size, Share & Industry Trends Analysis Report By Application, By Product, By Regional Outlook and Forecast, 2021 – 2027
New York, May 05, 2022 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Global Smart Furniture Market Size, Share & Industry Trends Analysis Report By Application, By Product, By Regional Outlook and Forecast, 2021 – 2027” – https://www.reportlinker.com/p06273381/?utm_source=GNW
In addition, this furniture is significantly more complex and developed to satisfy the requirements of modern-day lifestyles. A growing number of furniture firms are incorporating smart technologies to enhance their goods and make them more consumer-centric, appealing, and comfy.
All furniture solutions that use information from the surrounding environment to give integrated functionality and comfort to their customers are referred to as smart furniture. It encompasses all objects that facilitate human activities such as seating, eating, sleeping, and so on. A smart piece of furniture usually has a distinct style, which could be conventional, modern, or opulent, and is designed only for the purpose of saving space.
Moreover, smart furniture is designed with a focus on its beauty and impression, and it can also be combined with the newest IT technology, allowing users to connect their smartphone devices to the smart furniture.
The worldwide smart furniture market is predicted to develop as disposable income rises and lifestyles change. In addition, rising investment in home automation solutions, combined with a shift in consumer preference for connected devices, would help the market to flourish. Moreover, some of the major trends of the market are increased use of smart furniture in a variety of industries, as well as shifting customer preferences for a simpler lifestyle. On the other hand, the massive cost of smart furniture goods compared to traditional furniture is expected to act as a significant barrier to the growth of the smart furniture market.
The worldwide smart furniture market is booming due to the rising customer demand for smart home-controlled gadgets. In addition, smart furniture allows users to access a variety of comfort applications, like temperature control in electric mattresses and smart beds, and also allows them to transform basic furniture into numerous space-saving furniture shapes, such as converting a sofa to a bed and vice versa. Moreover, rising consumer demand for furnishings and durable household equipment is expected to contribute significantly to the growth of the overall Smart Furniture market.
COVID-19 Impact
Fluctuations in furniture demand, as well as import and export restrictions and supply chain disruptions caused by the COVID-19 outbreak, have impeded the growth of the market during the pandemic period. On the other hand, the market is expected to benefit from the growing trend of smart city initiatives and the increased launch of innovative smart furniture items by industry participants. The abrupt COVID-19 pandemic, which struck the world in the initial phase of 2020, has drastically altered the furniture industry. In addition, the disruptions in the supply chain, as well as the temporary prohibition on global trade, have had a significant impact on countries that rely heavily on imports for their furniture. With the increase in time spent at home due to the pandemic, a significant portion of the world’s population was compelled to move to a stay-at-home protocol for a longer period of time, motivating customers to optimize their homes and furniture.
Market Growth Factors
A rise in trend for furniture that saves space
According to the Bank for International Settlements (BIS), the commercial property price index in the United States increased from 400.10 index, 2010 = 100 units in 2010 to 687.20 index, 2010 = 100 units in 2018, while in the Euro area, the index increased from 39.31 index, 2011 = 100 units in 2010 to 467.30 index, 2011 = 100 units in 2018. Furthermore, according to the statistics, the residential property price index in the United States increased from 416.60 index 2005 = 100 units in 2013 to 528.40 index 2005 = 100 units in 2018, while in the Euro Area, it increased from 392.05 index 2015 = 100 units in 2013 to 454.66 index 2015 = 100 units in 2018.
Availability of different designs in smart furniture and the high influence of social media
Smart furniture makers are progressively developing innovative furniture that supports a variety of technologies, including wireless smartphone charging, mirror displays of time, date, and news, and sensors embedded in furniture that monitor the user’s well-being. As a result, businesses are increasingly adopting smart office furniture to track employee behaviors such as how long they sit, stand, or walk away from their desk, as well as the number of calories they burn. In addition, many end users are increasingly gravitating toward smart furniture due to the furniture’s multiple transformation capabilities, such as stools that transform into modular sofas at the touch of a button on the user’s smartphone, and smart beds that monitor the user’s heart rate, respiration rate, sleeping posture, and other parameters.
Market Restraining Factors
The massive cost of Smart Furniture and Compatibility issues
Companies are integrating modern features in smart furniture including Wi-Fi, sensors, and others, which can make the lives of users significantly better. On the other hand, the cost of integrating these features is quite massive, discouraging many companies and homeowners to embrace smart furniture. In addition, many companies struggle to incorporate smart furniture into their premises because they face budget constraints. Moreover, numerous organizations are still using traditional furniture and are hesitant to replace them with modern furniture in the near future. This is because smart furniture has built-in technologies and if a part stop working properly, the cost of replacement is high. Many players are currently working on various systems that use a variety of technologies.
Application Outlook
Based on Application, the market is segmented into Commercial and Residential. The Residential segment held a significant revenue share of the Smart Furniture Market in 2020. This is because of the rising demand for furniture in living rooms and bedrooms, as well as an increase in government-sponsored real estate development projects, particularly in metropolitan regions. Additionally, the changing tendency of consumers toward the use of IoT-connected furniture is expected to drive the growth of this segment during the forecasting period. Household disposable income in the United States increased from 40624.23 USD/capita in 2010 to 50294.00 USD/capita in 2017, according to the Organisation for Economic Co-operation and Development (OECD). Furthermore, the growth of the smart furniture market is fueled by an increase in demand for space-saving furniture and the expansion of online shopping.
Product Outlook
Based on Product, the market is segmented into Smart Desks, Smart Tables, Smart Chairs and Others. In 2020, the Smart Desks segment acquired the largest revenue share of the Smart Furniture Market. As corporations furnish new office spaces, a strong increase in commercial and office building construction and remodeling activities is expected to boost demand. In addition, replacement activity has previously played a modest part in supporting demand, owing to product durability and a lack of innovation, but trends toward more open, collaborative workspace design will promote a rise in replacements.
Regional Outlook
Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa. In 2020, North America emerged as the leading region in the overall Smart Furniture Market by collecting the largest revenue share. The promising revenue share of the regional market can be credited to a rise in the number of working professionals and the rapid adoption of technology. However, large improvements in other years were offset by a sharp decrease in demand coinciding with the 2007-2009 US recession, resulting in no overall change in demand for the 2006-2016 decade. Demand for office furniture is very cyclical, varying in reaction to macroeconomic factors such as new office building development, capital investment, and employment levels.
Strategies Deployed in Smart furniture Market
Jan-2022: Sleep Number released new upgrades in its 360 smart beds, enhancing some of their built-in sensors and including complementary tech such as lights and mobility accessories that it calls smart furniture. Through this, the company aimed to develop more accessible smart beds so that people can grow in higher comfort or recover from injuries.
Aug-2021: Sleep Number partnered with the Pro Football Hall of Fame, the hall of fame for professional American football, located in Canton, Ohio. Following the partnership, the Sleep Number would become the sleep and wellness partner for the organization. Through this partnership, Sleep Number would offer members of the Hall of Fame Centennial Class of 2020 and Class of 2021 its 360 Smart Beds. In addition, all previous Hall of Famers would get Sleep Number gift cards to utilize toward a 360 smart bed.
Jun-2021: Eight Sleep released SleepOS, the first data-driven digital ecosystem to focus on sleep optimization. The new product features, Smart Temp Autopilot, and Sleep and Health Insights. SleepOS serves as the brains of Eight Sleep, combining many data points to develop a unique AI model for each user based on personal sleep patterns, prior temperature preferences, environmental variables, and customer feedback. Moreover, SleepOS changes the Pod’s sleeping environment in real-time until it achieves ideal sleep.
Apr-2020: Ikea took over Geomagical Labs, an artificial intelligence (AI) imaging startup Geomagical Labs. Through this acquisition, Ikea would assist in enhancing the virtual home visualization tools of Geomagical Labs. Moreover, the company’s flagship technology enables customers to scan their rooms utilizing their smartphone camera, then eliminate all the furniture and products in a digital 3D render.
Aug-2019: Hi-Interiors introduced the second version of its smart bed. Through this launch, the company aimed to attract sleep enthusiasts with another excuse to lounge around all weekend. HiBed’s frame is significantly more basic than its massive predecessor. Moreover, HiBed has a variety of tech elements buried away in its sleek frame to encourage various forms of relaxation. On a retractable 70-inch screen, a built-in 4k projector may be coupled with a number of devices to watch movies or TV. When used in conjunction with the projector or on their own for music, speakers hidden within the frame give an all-encompassing sound experience.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Sleep Number Corporation, Inter IKEA Systems B.V., Eight Sleep, Hi-Interiors Srl, Fonesalesman Ltd., Nitz engineering Srl, Desktronic, Modoola Limited, and Sobro (StoreBound LLC).
Scope of the Study
Market Segments covered in the Report:
By Application
• Commercial
• Residential
By Product
• Smart Desks
• Smart Tables
• Smart Chairs
• Others
By Geography
• North America
o US
o Canada
o Mexico
o Rest of North America
• Europe
o Germany
o UK
o France
o Russia
o Spain
o Italy
o Rest of Europe
• Asia Pacific
o China
o Japan
o India
o South Korea
o Singapore
o Malaysia
o Rest of Asia Pacific
• LAMEA
o Brazil
o Argentina
o UAE
o Saudi Arabia
o South Africa
o Nigeria
o Rest of LAMEA
Companies Profiled
• Sleep Number Corporation
• Inter IKEA Systems B.V.
• Eight Sleep
• Hi-Interiors Srl
• Fonesalesman Ltd.
• Nitz engineering Srl
• Desktronic
• Modoola Limited
• Sobro (StoreBound LLC)
Unique Offerings
• Exhaustive coverage
• Highest number of market tables and figures
• Subscription based model available
• Guaranteed best price
• Assured post sales research support with 10% customization free
Read the full report: https://www.reportlinker.com/p06273381/?utm_source=GNW
About Reportlinker
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need – instantly, in one place.
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BEIJING, April 26, 2024 /PRNewswire/ — A news report from China Daily:
Greater efforts are needed to strengthen international cooperation in science and technology, explore ways of jointly solving important global issues through technological innovation, and develop new quality productive forces, said officials, experts and company executives on Thursday in Beijing.
Addressing the opening ceremony of the 2024 Zhongguancun Forum, Vice-Premier Ding Xuexiang said China is willing to work with the international community to practice the concept of open, fair, just and nondiscriminatory international sci-tech cooperation, and to jointly build a global sci-tech community.
The country will explore a new model regarding mutually beneficial global cooperation in sci-tech innovation, and will break down barriers restricting the flow of knowledge, technology, talent and other innovative factors, to jointly create an open innovation ecosystem.
Yin Li, secretary of the Communist Party of China Beijing Municipal Committee, said the capital will ramp up efforts to improve its innovation capacities, accelerate the building of world-leading science and technology parks, increase investment in basic research and make breakthroughs in core technologies in key fields.
Data from the Ministry of Science and Technology showed that China’s research and development investment exceeded 3.3 trillion yuan ($455.4 billion) in 2023, up 8.1 percent year-on-year, and the spending on fundamental research reached 221.2 billion yuan, an increase of 9.3 percent over the previous year.
China’s strength in scientific and technological innovation has taken a major leap in recent years. Marco Aleman, assistant director-general of the World Intellectual Property Organization, said China is a powerhouse of innovation that contributes to global growth and sustainable development.
According to WIPO, the country stands as a global innovation leader, ranking 12th in the Global Innovation Index 2023, and it owned 24 of the top 100 science and technology clusters globally by the end of last year, ranking first in the world for the first time.
Quarraisha Abdool Karim, president of the World Academy of Sciences, said ensuring a sustainable future through partnership and cooperation creates an opportunity for all participants to explore new pathways toward achieving the United Nations’ Sustainable Development Goals.
Lei Jun, founder and CEO of Chinese tech company Xiaomi Corp, said the company will continue to step up investment in R&D and strive for breakthroughs in core technologies.
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View original content:https://www.prnewswire.co.uk/news-releases/greater-efforts-urged-on-sci-tech-cooperation-302128473.html
Artificial Intelligence
Web O.No: Metaverse and Web 3.0 stunted by internet chaos, warn 87% of business leaders
Forrit report uncovers the internet is at breaking point, thanks to open source vulnerabilities, siloed web management systems, and poor website governance.
LONDON, April 26, 2024 /PRNewswire/ — A new study launched by Forrit, the next-generation, global content management system (CMS) provider, reveals that 89% of senior marketers and tech leaders are optimistic that Web 3.0 and the metaverse have the potential to revolutionise the way we interact with the web. However, the report, titled Web O.No: your business’ bleak online future and how to avoid it uncovered that 87% believe the current state of the internet will stunt these innovations – and none of the respondents have websites that are currently equipped for this transformative new internet era.
As we near the 31st anniversary of the World Wide Web’s entry into the public domain, UK business decision-makers unanimously agreed that “the Internet today is a mess,” citing security flaws, vulnerabilities with open source web management systems, ungoverned websites, and multiple layers of legacy CMS systems.
Despite the report focusing on heavily regulated industries, financial services, utilities, and the legal sector, over half of the respondents (57%) revealed they have website security flaws. They also admitted customers would lose trust if they were exposed. Security vulnerabilities were most prevalent among those who run their websites on open source solutions, rising to 79% in this group. Expert respondents underscored the specific risk of open source plug-ins. Created by multiple third-party developers, they leave websites open to malicious compromise.
Beyond cyber-attacks, the report highlights the heightened risk of outages, dysfunctional interfaces, and hazardous content hidden within neglected pages of reputable websites. The latter is a risk for those operating multiple website management (CMS) systems – a common practice among the participants. Shockingly 44% admitted they don’t have control of the website content as a direct result of this practice.
With the internet spiralling out of control, Forrit labels this chaotic online future Web O.No.
Peter Proud, CEO and Founder, Forrit, explains the role of composable CMS platforms in putting the brakes on this doomsday scenario, “Forget Web 3.0, we’re heading towards Web O.No – a grim reality of an internet unfit for purpose unless we act now. It’s time to stop layering on outdated, vulnerable web management systems, which exacerbate the problem. Embracing a next-generation composable web management platform would introduce a new era of security, flexibility, and scalability for the internet, empowering businesses to embrace the future.”
The respondents reinforced this sentiment, with 89% asserting that composable architecture would empower their organisation to future-proof their digital infrastructure. This includes granting them the flexibility to adopt AI into the website—a capability that is inhibited by their current web management system, according to 72% of respondents.
Gary Roberts, CRO, Forrit, underscores this significance: “Your website management platform (CMS) should be an enabler of digital innovation, not a barrier. Embracing composable web architecture removes the current barriers, providing a clear pathway to the future – whether that’s the metaverse, Web 3.0, or any other pioneering tech advancement as yet undiscovered.”
Click here to download Forrit’s report – Web O.No: your business’ bleak online future and how to avoid it.
About ForritUK-based, global content management system provider, Forrit, has been helping large businesses in highly-regulated industries keep their web estate secure, simple-to-scale and easy-to-manage, for the last 10 years.
Our mission? To allow IT and marketing to manage their digital estate in perfect harmony. Through Forrit’s intuitive UI, low code CMS and content management configuration platform (Service Delivery Hub), the CMO and CTO can take joint control of their web estate.
An Azure-native solution, through which businesses can leverage any and all Azure Cloud Services, including AI-powered translation and automated migration, Forrit CMS is future proof and can be scaled or de-scaled as needed.
Sound technical? Not at all. Forrit’s platform requires no prior Azure knowledge or technical expertise to get everything needed from it. The plus to this, the strain is taken off the IT team, and the marketing team can create unrivalled digital experiences and manage content with ease.
With enterprise-grade security to top it off, Forrit’s cloud-native CMS helps businesses simplify their workflows, streamline their marketing efforts and scale at speed, securely.
About the researchCensuswide conducted the research with 505 UK IT and marketing decision-makers between 01.03.24 and 12.03.24. Censuswide abides by and employs members of the Market Research Society, which is based on the ESOMAR principles, and is a member of The British Polling Council.
View original content:https://www.prnewswire.co.uk/news-releases/web-ono-metaverse-and-web-3-0-stunted-by-internet-chaos-warn-87-of-business-leaders-302127761.html
Artificial Intelligence
Identity Governance & Administration Market Projected to Reach $24.42 billion by 2030 – Exclusive Report by 360iResearch
PUNE, India, April 25, 2024 /PRNewswire/ — The report titled “Identity Governance & Administration Market by Component (Services, Solution), Modules (Access Certification & Compliance Control, Access Management, Identity Lifecycle Management), Organization Size, Deployment, Vertical – Global Forecast 2024-2030” is now available on 360iResearch.com’s offering, presents an analysis indicating that the market projected to grow from a size of $8.46 billion in 2023 to reach $24.42 billion by 2030, at a CAGR of 16.34% over the forecast period.
“Navigating Global Identity Governance With Key Strategies for Digital Security and Compliance”
Identity governance and administration (IGA) has emerged as a critical policy-driven approach aimed at fortifying digital identities within organizations, ensuring that proper access is provided to the right individuals for valid reasons. Across the globe, the demand for IGA solutions is on the rise, driven by the need to tackle sophisticated cyber threats, comply with stringent data protection laws, and adapt to the digitization wave sweeping through industries. Challenges include integrating these solutions with pre-existing IT frameworks, primarily in organizations reliant on legacy systems. The North American market, led by the United States and Canada, is at the forefront of this expansion, embracing technological advancements and stringent regulatory standards. Meanwhile, the Europe, Middle East, and Africa (EMEA) region is navigating its unique landscape, with the EU focusing heavily on compliance through GDPR and the Middle East and Africa gradually recognizing the value of digital security. The Asia-Pacific region is witnessing a significant uptrend in IGA solutions adoption, spurred by digital transformation initiatives and cybersecurity awareness, with China and India playing pivotal roles. This global perspective highlights the universal importance of IGA in today’s digital era, highlighting the critical balance between innovation, security, and regulatory compliance in safeguarding digital identities.
Download Sample Report @ https://www.360iresearch.com/library/intelligence/identity-governance-administration
“Navigating the New Normal With The Crucial Role of Identity Governance in Securing Hybrid Work Environments”
As businesses globally embrace the fusion of remote and traditional office work, the need for secure, hybrid workspaces becomes paramount. The shift toward flexible working models, accelerated by the COVID-19 pandemic, highlights the importance of cybersecurity and accessibility in ensuring operational continuity and a better work-life balance. Identity governance & administration (IGA) systems emerge as essential tools within this evolving work landscape. They enable organizations to manage digital identities and access rights effectively, safeguarding sensitive data against unauthorized access across diverse working environments. By ensuring that only credentialed employees can access critical information, regardless of their physical location, IGA solutions stand at the forefront of maintaining cybersecurity compliance and operational integrity. This development signifies a growing demand for robust identity governance frameworks, ensuring businesses remain resilient and secure in remote work and beyond.
“Elevating Security and Efficiency in Organizations through Specialized Identity Governance & Administration Services”
Managed and professional services provide organizations with the specialized expertise necessary for optimizing the performance and security of identity governance & administration (IGA) systems, eliminating the need for such in-depth knowledge internally. Businesses benefit from advanced skills that enhance system functionality and safeguard sensitive data by outsourcing specific IGA tasks. From the initial stages of integration and implementation, ensuring seamless incorporation with existing infrastructures, to ongoing support and maintenance for consistent system reliability and up-to-dateness, these services form the foundation of effective IGA strategies. Furthermore, training and consulting play a pivotal role, equipping companies with the understanding and capability to utilize their IGA systems to the fullest. IGA solution is a critical technological tool designed to streamline the management of user access rights across organizations, bolstering security, operational efficiency, and compliance with regulatory standards. This comprehensive approach to IGA facilitates a more secure, efficient, and compliant organizational environment, empowering businesses to focus on core objectives and ensure their data remains protected.
Request Analyst Support @ https://www.360iresearch.com/library/intelligence/identity-governance-administration
“International Business Machines Corporation at the Forefront of Identity Governance & Administration Market with a Strong 7.09% Market Share”
The key players in the Identity Governance & Administration Market include Broadcom, Inc., SAP SE, Oracle Corporation, Microsoft Corporation, International Business Machines Corporation, and others. These prominent players focus on strategies such as expansions, acquisitions, joint ventures, and developing new products to strengthen their market positions.
“Introducing ThinkMi: Revolutionizing Market Intelligence with AI-Powered Insights for the Identity Governance & Administration Market”
We proudly unveil ThinkMi, a cutting-edge AI product designed to transform how businesses interact with the Identity Governance & Administration Market. ThinkMi stands out as your premier market intelligence partner, delivering unparalleled insights with the power of artificial intelligence. Whether deciphering market trends or offering actionable intelligence, ThinkMi is engineered to provide precise, relevant answers to your most critical business questions. This revolutionary tool is more than just an information source; it’s a strategic asset that empowers your decision-making with up-to-the-minute data, ensuring you stay ahead in the fiercely competitive Identity Governance & Administration Market. Embrace the future of market analysis with ThinkMi, where informed decisions lead to remarkable growth.
Ask Question to ThinkMi @ https://app.360iresearch.com/library/intelligence/identity-governance-administration
“Dive into the Identity Governance & Administration Market Landscape: Explore 197 Pages of Insights, 654 Tables, and 26 Figures”
PrefaceResearch MethodologyExecutive SummaryMarket OverviewMarket InsightsIdentity Governance & Administration Market, by ComponentIdentity Governance & Administration Market, by ModulesIdentity Governance & Administration Market, by Organization SizeIdentity Governance & Administration Market, by DeploymentIdentity Governance & Administration Market, by VerticalAmericas Identity Governance & Administration MarketAsia-Pacific Identity Governance & Administration MarketEurope, Middle East & Africa Identity Governance & Administration MarketCompetitive LandscapeCompetitive PortfolioInquire Before Buying @ https://www.360iresearch.com/library/intelligence/identity-governance-administration
Related Reports:
Privileged Identity Management Market – Global Forecast 2024-2030Identity & Access Management Professional Services Market – Global Forecast 2024-2030Digital Identity Solutions Market – Global Forecast 2024-2030About 360iResearch
Founded in 2017, 360iResearch is a market research and business consulting company headquartered in India, with clients and focus markets spanning the globe.
We are a dynamic, nimble company that believes in carving ambitious, purposeful goals and achieving them with the backing of our greatest asset — our people.
Quick on our feet, we have our ear to the ground when it comes to market intelligence and volatility. Our market intelligence is diligent, real-time and tailored to your needs, and arms you with all the insight that empowers strategic decision-making.
Our clientele encompasses about 80% of the Fortune Global 500, and leading consulting and research companies and academic institutions that rely on our expertise in compiling data in niche markets. Our meta-insights are intelligent, impactful and infinite, and translate into actionable data that support your quest for enhanced profitability, tapping into niche markets, and exploring new revenue opportunities.
Contact 360iResearchMr. Ketan Rohom360iResearch Private Limited,Office No. 519, Nyati Empress,Opposite Phoenix Market City,Vimannagar, Pune, Maharashtra,India – 411014.Email: [email protected]: +1-530-264-8485India: +91-922-607-7550
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