Market Sales Analysis for the Office Furniture Industry in Singapore in 2023

May 7, 2023 - PRLog -- The revenue amount of the global market for office furniture is at US$ 50.16 billion in 2023 and is expected to reach US$ 98 billion by the end of 2027, increasing at a CAGR of 4.61%. However, if we talk about just only Singapore, market sales sum up to the total revenue in the Office Furniture segment amounts to US$82.16 million in 2023. In relation to total population figures, per-person revenues of US$13.72 are generated in 2023.

The industry is also projected to grow in the coming years. Over the projection period, 2023–2027, the market for office furniture is expected to have a CAGR of 4.16%. These corporate statistical data are provided by Statista about the Furniture market.

With the increasing globalization of the corporate world, office furniture is becoming increasingly popular. Many small-scale and large-scale market players are heavily investing in product innovation. Nowadays, office furniture includes more than simply tables and chairs. It is much more than that, combining creative modern designs with high-quality materials to provide attractive also functional items.

The competition among manufacturers to promote their unique selling points is proving beneficial to the expanded furniture market The offering of comfort solutions to corporate offices through furniture items is driving sales of the office furniture (https://www.heatofficefurniture.com/) industry. To satisfy diverse client expectations, top manufacturers provide high-density foam seats with a variety of fabrics and colour selections.