Market Analysis Report

Target market analysis:

Wooden furniture market size by application. In commercial (business/office,
educational, healthcare, hospitality) analysis regional outlook, application
potential, competitive market share & forecast,2021-2026.

Advantages & marketing & designs:

Wooden Furniture Market size exceeded USD 370 billion in 2020 and is
projected to expand at a steady CAGR of over 5.6% from 2021 to 2027. The rise in
investments in the development & construction of new offices, hospitals, and
hospitality infrastructure will prominently augment industry growth.

The increasing need for modern office interiors offering a comfortable &
productive working environment will also contribute to an increasing demand
for wooden furniture in the commercial application. The rapid
commercialization across developing economies coupled with the need for
cutting? edge modular furnishing to generate a better learning atmosphere in
operational spaces will also enhance the market revenue.

2026 2026
2021-2026

BANGALORE 2026

CAGR (2021-26):5%

2021-26
The necessity to replace the aging infrastructure supported by high income per
capita and willingness to spend on premium home interiors will drive
advancements in the market. The expansion of global companies providing
remodeling services within a stipulated time and budget period, supported by
enhanced availability of new furniture designs, will propel the regional market
growth. Major advantages of office remodeling are increase in energy-efficiency,
improved employee performance, and employee satisfaction, supporting the
industry.

Technology:
The rising disposable income, proliferating economic growth, and easier
availability of land at cheaper costs will foster market opportunities.
Improving living standards and healthy economic conditions are escalating the
wooden furniture market share. Moreover, advanced interior designs for
modern residential buildings along with the availability of low-cost labour are
supporting the industry expansion.

Manufacturers are highly focused on gaining consumer confidence and

offering differentiated services by investing in technological advancements
such as 3D modeling tools, VR headset visualization, and other digital services.
Favourable government policies, such as the implementation of free trade
agreements, are positively influencing the market demand. Rising foreign
direct investments coupled with improving economic conditions are expected
to further boost the market size.

The rising preference for compact apartments and increasing property prices
is also contributing to the rising demand for multi-functional & affordable
furniture. Furthermore, the increasing demand for imported furniture
accompanied by the rising penetration of foreign brands in the domestic
furniture market will augment industry statistics. These markets are influenced
by many factors including consumer confidence, changing consumer
preferences, spending in durable goods, inflation, interest rates, turnover in
housing, availability of credit, and the overall strength of the economy.
Competitive analysis:
Modern Mode Furniture Store will face competition from other furniture stores in
the area. A profile of the competitor companies are below.

Direct and indirect competitors:

IKEA is a Swedish founded, Dutch-
headquartered multinational conglomerate that designs and sells ready-to-
assemble furniture, kitchen appliances and home accessories, among other
goods and home services. Started in Sweden in 1943 by 17-year-old Ingvar
Kamprad, IKEA has been the world's largest furniture retailer since 2008 The
brand used by the group is an acronym that consists of the founder's initials, and
those of Elmtaryd, the family farm where he was born, and the nearby
village Agunnaryd (his hometown in Småland, southern Sweden
The group is primarily known for its modernist designs for various types of
appliances and furniture, and its interior design work is often associated with
an eco-friendly simplicity In addition, the firm is known for its attention to cost
control, operational details, and continuous product development that has
allowed IKEA to lower its prices by an average of two to three percent.
INGKA Holding B.V., based in the Netherlands, owns the Ingka Group, which
takes care of the centers, retails, customer fulfillment, and all the other services
related to IKEA productsAt the same time, the IKEA brand is owned and managed
by Inter IKEA Systems B.V., based in the Netherlands, owned by Inter IKEA
Holding B.V. Inter IKEA Holding is also in charge of design, manufacturing and
supply of IKEA products. Ingka Group is a franchisee that pays 3% of royalties to
Inter IKEA Systems As of March 2021, there are 422 IKEA stores operating in 50
countries and in fiscal year 2018, €38.8 billion (US$44.6 billion) worth of IKEA
goods were sold All IKEA stores are operated under franchise from Inter IKEA
Systems B.V., most of which are operated by Ingka Group; some of them are
operated by other independent owners.
The IKEA website contains about 12,000 products and there were over 2.1 billion
visitors to IKEA's websites in the year from September 2015 to August 2016. the
group is responsible for approximately 1% of world commercial-product wood
consumption, making it one of the largest users of wood in the retail sector.
ZUARI FURNITURE:
Zuari offers a wide range of products including cots, wardrobes, dressing tables,
sofas, dining sets, wall units, TV trolleys, computer tables and office furniture. Its
wide and affordable offerings, with their sleek and trendy looks make a style
statement. It is the understanding of the Indian consumers that paved the way
for Zuari’s success. A strong distribution network of 60 distributors and more
than 500 dealers has helped Zuari reach its customers, through the length and
breadth of the country with excellent after sales service
Forte Furniture Products India Private Limited is a Joint venture between Indian
Furniture products Limited, a subsidiary of Zuari Global Limited (an ADVENTZ
GROUP company) and FABRYKI MEBLI “FORTE” S.A., Ostrów Mazowiecka,
Poland. Forte Furniture India has started operations from April 1st 2017 and is
into manufacturing and distribution of furniture for the Indian market.

About Wipro Furniture:

Wipro Furniture Private Limited is an India based Furniture company. The
company was founded in 2004. It has main office as registered office in
Bangalore, Karnataka, India. It is one of the famous names, best quality Furniture
in India. Wipro Furniture offers all type Workstations, Benching, Cabin Furniture,
Conference, Meeting Tables, Educational Furniture, Task Seating, Executive
Seating, Board Room Seating All Type Seating Tables and Chairs. Below, you can
check all types of contact details of Wipro Furniture India Company.

Strengths:
Customer knowledge
Constantly using innovations to drive costs down

Supply chain integration

Brand reputation and market presence
Weakness:
Negative publicity
Decreasing quality

Standard products
Intensifying competition

Growth of average consumers income

Indirect competetiors:

Amazon is an American multinational technology company which focuses on e-

commerce, cloud computing, digital streaming, and artificial intelligence. It has
been referred to as "one of the most influential economic and cultural forces in
the world and is one of the world's most valuable brands. It is one of the Big
Five American information technology companies,
alongside Alphabet, Apple, Meta, and Microsoft.
Amazon was founded by Jeff Bezos from his garage in Bellevue, Washington on
July 5, 1994. Initially an online marketplace for books, it has expanded into a
multitude of product categories: a strategy that has earned it the moniker The
Everything Store It has multiple subsidiaries including Amazon Web
Services (cloud computing), Zoox (autonomous vehicles), Kuiper
Systems (satellite Internet), Amazon Lab126 (computer hardware R&D). Its other
subsidiaries include Ring, Twitch, IMDb, and Whole Foods Market. Its acquisition
of Whole Foods in August 2017 for US$13.4 billion substantially increased its
footprint as a physical retailer.

Strengths:
This amazon swot analysis reveals how the largest online retailer used to
become the dominant player in the retail industry.it identifies all the key
strengths.

Weakness:
Opportunities and threats that affect the company the most
Barriers to entry:
Pitfalls & Challenges:
Limited availability of skilled labour along with increasing manufacturing cost

Increasing cost and need to enhance supply chain visibility and efficiency
 Increased competition from retailers
 Commodities price
 Transportation
 Shortage of materials
 Long lead times
 Customer demands
 Overcapacity
 Growing wages
 Lack of funding
 Lack of skilled labour.

The five key characteristics that define emerging markets

 Less-than -average per capital income
 Recent rapid growth
 High market volatility
 Less mature capital markets
 Higher-than-average return for investors
These five defining factors all work together to establish an economy as an
emerging market . for instance, less-then-average per capital income
incentivizes countries to undergo rapid changes in order go rapid changes in
order to fuel economic growth and build a more mature capital market.
Market projection:
BY MATERIAL :

These trends indicate significant potential for growth

in the contract furniture segment.
2026 2025 2024

Furniture Imports into India

2026 2025 2024 2023 2022
Pricing structure:
In the price skimming strategy above, Company A generates revenue = A + B with
sales of Q1. With their follow-on pricing, the company generates additional
revenue = C with sales of Q2-Q1. The company generates total revenue of A + B +
C, with total sales of Q2.

Perceived quality: Price skimming helps build a high-quality image and

perception of the product.
Cost recuperation: It helps a firm quickly recover its costs of development.
High profitability: It generates a high profit margin for the company.
Vertical supply chain benefits: It helps distributors earn a higher percentage.
The markup on a $500 product is far more substantial than on a $5 item.