It is indeed.

It’s a bit of a play on words, since Småland literally translates to Small land, making it apt as this is where you can leave your children at IKEA.

I looked up the etymology of the name out of interest, and it seems like it stems from it being made up of a collection of smaller self-ruling villages, located between Skåne that has often been under Danish control, and Götaland which was controlled by Götar.