Core Insights - The smart sofa industry is experiencing significant growth driven by rising consumer demand for quality, comfort, and smart features, with the market size expected to reach 7.22 billion yuan in 2024, a year-on-year increase of 10.9% [1][6] - The younger generation is becoming the main consumer force, showing a high acceptance of innovative products and a willingness to pay for smart features [1][6] - The expansion of the home furnishing market, particularly in new home renovations and old home upgrades, provides ample market space for smart sofas [1][6] Industry Overview - Smart sofas, also known as electric sofas, integrate information technology, microelectronics, sensors, and mechanical technology to enhance user experience with features like massage, heating, and personalized adjustments [3] - The industry has evolved through three stages: initial development in the 1980s-90s, rapid growth from 2000-2018, and a current phase of innovation driven by IoT, big data, and AI technologies [3] Market Dynamics - The smart sofa industry is characterized by increasing competition as more companies enter the market, leading to higher R&D investments and innovative product launches [1][6] - The supply chain includes raw material suppliers (leather, microfibers, batteries), manufacturers, and various application fields such as homes, offices, and cinemas [5] Competitive Landscape - Major players in the smart sofa market include established furniture brands like Kuka Home, Mousse, and Qumei, as well as emerging tech companies like Xiaomi and Baidu, which leverage technology to enhance product offerings [8] - Kuka Home reported a revenue of 10.204 billion yuan from its sofa business in 2024, reflecting a year-on-year increase of 9.14% [8][9] Future Trends - The integration of AI and IoT technologies will deepen, allowing smart sofas to monitor user health metrics and adjust settings automatically for optimal comfort [10] - Customization demand is expected to rise as younger consumers seek personalized designs and features, expanding the market beyond traditional living spaces [11] - Companies are increasingly looking to expand into international markets to enhance competitiveness and growth opportunities [12]