The portable beds market has experienced significant growth in recent years due to the increasing adoption of smart home technologies. Portable beds provide convenient and comfortable sleeping solutions for limited spaces. They offer easy storage, foldable designs, and come in various sizes. The growing preference for compact and modular furniture among homeowners and rise of the hospitality industry have fueled demand for portable beds.
The global portable beds market is estimated to be valued at US$ 5.23 Bn in 2024 and is expected to exhibit a CAGR of 6.5% over the forecast period 2024 to 2031.
Key Takeaways
Key players operating in the portable beds market are Nilkamal Furniture, Shree Rupnath Enterprises, SEDAC, The Bedder Way Co., Murphy Wall Beds Hardware, Coleman, SICO Inc., Clei, FlyingBeds International., Jay-Be, Mattison ContractBeds, The London Wallbed Company, Avensis Furniture, Better BedCompany, Godrej Interio, Zeketrolleys, and The Elite Land General Trading.
The portable beds market offers significant growth opportunities owing to the rising demand for compact and space-saving furniture from urban households and the increasing construction of micro homes and tiny houses. Technological advancements have enabled the development of smarter portable beds that can be easily controlled through smartphones and other IoT devices.
Technological advancements in motors, actuators, and sensing have enhanced the functionality of portable beds. Smart beds integrated with the latest connectivity standards like Wi-Fi and Bluetooth can now be controlled remotely. Motion sensors allow automatic folding and unfolding with a simple hand gesture.
Market Drivers
The key drivers propelling the Portable Beds Market Size include growing urbanization and nuclearization of families, rising disposable incomes, increasing demand for specialty and modular furniture, and rapid growth of the real estate and hospitality sectors. The convergence of smart home technologies with furniture designs is expected to further fuel market growth over the coming years.
Current challenges in portable beds market
The portable beds market is facing various challenges like intense competition among existing players, lack of product differentiation, and fluctuating raw material prices. The market players are focusing on new product launches and upgrades to gain a competitive edge. Moreover, availability of low-cost substitutes like folding mattresses and air beds pose a threat to demand for portable beds.
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