Home Office Furniture - Israel

Israel

In Israel, the Home Office Furniture market generates a revenue of €211.20m in 2024.
It is projected to experience an annual growth rate of 1.83% (CAGR 2024-2029).
When compared globally, in the United States leads with a revenue of €17,360m in 2024.
In terms of per capita figures, each person in Israel generates a revenue of €22.68 in 2024.
The demand for ergonomic home office furniture in Israel has surged due to the increasing number of professionals working remotely.

Key regions: Germany, Brazil, United Kingdom, Denmark, China

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Analyst Opinion

The Home Office Furniture market in Israel is experiencing significant growth due to changing customer preferences and local special circumstances.

Customer preferences: The demand for home office furniture in Israel is increasing as more people are working remotely. With the rise of flexible work arrangements and the advancement of technology, many individuals are choosing to work from home. This has led to a growing need for comfortable and functional home office furniture. Customers are looking for ergonomic chairs, adjustable desks, and storage solutions that can help create a productive work environment. Additionally, there is a growing trend towards minimalist and modern designs, reflecting the desire for a clean and organized workspace.

Trends in the market: One of the key trends in the home office furniture market in Israel is the focus on sustainability. Customers are increasingly conscious of the environmental impact of their purchases and are seeking eco-friendly options. This has led to the rise of furniture made from sustainable materials such as bamboo or recycled wood. Additionally, there is a growing demand for furniture that is easy to assemble and disassemble, allowing for easy transportation and reconfiguration. Another trend in the market is the integration of technology into home office furniture. With the increasing reliance on technology for work, customers are looking for furniture that can accommodate their devices. This includes features such as built-in charging stations, cable management systems, and wireless charging capabilities. The integration of technology not only enhances the functionality of the furniture but also provides a seamless and clutter-free workspace.

Local special circumstances: Israel has a highly educated workforce and a strong entrepreneurial spirit, which has contributed to the growth of the home office furniture market. Many individuals in Israel work in knowledge-based industries such as technology and innovation, where remote work is common. Additionally, the high cost of living and long commutes in major cities like Tel Aviv have also driven the demand for home office furniture as more people seek to work from home.

Underlying macroeconomic factors: The growth of the home office furniture market in Israel is also influenced by underlying macroeconomic factors. The country has a stable economy with a high GDP per capita, which allows individuals to invest in home office furniture to create a comfortable and productive workspace. Furthermore, the government has implemented policies to support the growth of the technology sector, which has resulted in an increase in remote work opportunities. This has further fueled the demand for home office furniture. Overall, the Home Office Furniture market in Israel is experiencing growth due to changing customer preferences, local special circumstances, and underlying macroeconomic factors. As more individuals choose to work remotely, the demand for comfortable and functional home office furniture is expected to continue to rise. Additionally, the focus on sustainability and the integration of technology are key trends shaping the market. With a highly educated workforce and a strong entrepreneurial spirit, Israel is well-positioned to capitalize on the growing demand for home office furniture.

Methodology

Data coverage:

Data encompasses B2C enterprises. Figures are based on home furnishings and furniture found in every room of the home. This market is categorized by the room where the furniture is likely to be used and consists of the following: Living Room, Bedroom, Kitchen & Dining room, Outdoor, Home Office, and Baby & Children's Furniture. The Furniture market also includes Lamps and Lighting and Home Décor because the furnishings and accessories within these categories are not specific to any room.

Modeling approach / Market size:

Market sizes are determined by a top-down approach, based on a specific rationale for each market segment. As a basis for evaluating markets, we use national statistical offices, international institutions, in-house market research, and resources from the Statista platform. Next we use relevant key market indicators and data from country-specific associations such as consumer spending and GDP. This data helps us to estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, exponential trend smoothing is well suited for forecasting the Furniture market with a projected steady growth. The main drivers are furniture and furnishings, carpets and other floor coverings, and consumer spending per capita.

Additional Notes:

The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level.