IMARC Group’s latest report, titled “India Interior Design Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” finds that the India interior design market reached US$ 25.51 Billion in 2021. Interior design refers to a specialized branch of architecture or environmental design that deals with the designing, planning, and decoration of the interior of a room or building to enhance its aesthetic appeal. It involves the analysis of internal building requirements and the selection of decorative items, such as color schemes, lighting, and other materials, by interior designers to create comfortable, functional, and attractive spaces. It also comprises site verification, research, conceptual development, programming, space projection, and design execution. In India, interior design finds extensive applications in residential and commercial infrastructures as it helps increase the efficiency and functional usage of rooms and buildings.
India Interior Design Market Trends:
In India, the increasing preferences for luxury residential spaces due to inflating consumer expenditure capacities, elevating living standards, and rapid urbanization represents the primary factor driving the market growth. Besides this, the shifting inclination among individuals toward theme-based designs for homes and offices, coupled with the growing influence of social media, has accelerated product adoption rates. Additionally, there has been a significant rise in the demand for affordable interior design services in residential and commercial complexes to enhance their appearance and space efficiency. In line with this, the surging investments in real estate, co-working spaces, and commercial properties across the country have augmented the product demand. Furthermore, the Government of India is taking favorable initiatives to strengthen public infrastructure by developing commercial buildings such as multiplexes, airports, shopping malls, and private institutions. Along with this, the development of cloud-based interior designing software to reduce the instances of remodeling and restructuring design and identifying, monitoring, and accessing disparities between the proposed and actual building plan has catalyzed the market growth. Other factors, including the emerging trend of smart homes, rapid expansion in the construction industry, increasing funding for renovations and intrastromal projects, rising number of architects and interior designers, and ongoing technological advancements, are also providing a positive impact on the market growth. Looking forward, IMARC Group expects the market value to reach US$ 47.03 Billion by 2027, growing at a CAGR of 10.75% during 2022-2027.
- Based on the decoration type, the market has been bifurcated into new and renovation. At present, new decoration represents the largest market segment.
- On the basis of the end user, the market has been classified as residential and commercial, wherein commercial accounts for the majority of the market share.
- Region-wise, North India holds the leading position in the market. Other major regions include West and Central India, South India, and East India.
- The competitive landscape of the market has also been examined, along with the detailed profiles of key players operating in the industry.
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