India Interior Design Market Size - Industry Trends & Forecast Report 2027 - PDF document

India Interior Design Market Size - Industry Trends & Forecast Report 2027
India Interior Design Market Size - Industry Trends & Forecast Report 2027

India Interior Design Market Size - Industry Trends & Forecast Report 2027 - Description


India interior design market was worth USD 232 Billion in 2020 and is further projected to reach USD 382 Billion by 2027 at a CAGR of 74 during 20212027 forecast period ID: 896463 Download Pdf

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India Interior Design Market Thriving: Projected to growing at a CAGR of 7.4% by 2027 India Interior Design Market Size - Industry Trends & Forecast Report 2027 A study recently conducted by the strategic consulting and market research firm BlueWeave Consulting re vealed that India Interior Design Market was worth USD 23.2 Billion in the year 2020. According to the study, the market is estimated to grow at a CAGR of 7. 4 % , earning revenue of around USD 38.2 Billion by the end of 2027. Architects, trade members, Interior designers and educationists are involved in the planning, designing, and decorating of the interior spaces in India. The growing Indian real estate market, increas ing population, rising income levels, and urbanization all contribute to the growth of the internal design market. Additionally, interior design trends displayed on social media platforms, the popularity of smart homes, and changes in lifestyles and standa rds are other significant factors contributing to the growth of India’s interior design market . Report Overview Among the leading factors contributing to the growth of the India interior design market are rising income levels and urbanization. Social media platforms displaying interior design trends, the growing popularity of smart homes, and changes in lifestyles a nd standards, other factors that contribute to India's interior design market . View report Press release Sample report India Interior Design Market Thriving: Projected to growing at a CAGR of 7.4% by 2027 India Interior Design Market Size - Industry Trends & Forecast Report 202 7 India interior design marke t was worth USD 23.2 Billion in 2020 and is further projected to reach USD 38.2 Billion by 2027, at a CAGR of 7. 4 % during 2021 - 2027 (forecast period). The Indian interior design market is being driven by the booming real estate market. Furthermore, the growing population, rising income levels, and urbanization contribute to the g rowth of the India internal design market. Other factors contributing to the increasing demand for interior design services include smart home technology, social media influence, and variations in lifestyles and living standards . Source: BlueWeave Consult in g India Interior Design Marke t Overvie w An interior designer's goal is to create an aesthetically pleasing environment inside a building. It impacts one’s daily lives, including the way one works and relaxes. Creating comfortable homes, functional office s, and stunning public spaces is the work of interior designers. The interior design industry in India consists of trade members, architects, and interior designers tasked with planning, designing, and decorating interior spaces. The country’s interior des ign market is driven by increased population, incomes, urbanization, and its burgeoning real estate market . Growth Driver s Increasing number of interior designers across Indi a Investors are gradually increasing their investments in India's real estate market. Most of the investments are concentrated in commercial properties and co - working spaces. Thus, the rising real estate market will also bolster demand for interior design se rvices in India in the foreseeable future. A rise in investments in Tier I and Tier II cities of the nation is also contributing to the rising number of interior designers and architects in India for these cities. Additionally, many India Interior Design Market Thriving: Projected to growing at a CAGR of 7.4% by 2027 architecture firms are moving into India's interior designing market, strengthening the Indian interior design industry . Rising Demand for Improved Interior Designin g With the influx of cultures and global trends, Indians are embracing new designs and decorations for their home s. When it comes to improving their home spaces, they are willing to spend more on interior designing services to receive customized designs that will make their look stand out from the crowd. Commercial interior design is also expected to increase in dema nd during the forecast period as businesses realize the importance of a beautiful work environment for improving employee performance. This is expected to contribute to the growth of India interior design market during the forecast period . Restraint s Thoug h India’s interior design market is booming, interior designers in the country still face a lot hurdle. Nowadays, residential and commercial property owners prefer theme - based designs, such as the European Style, Mediterranean style, or the folkloric India n style. Thus, the toughest part of the job of an interior designer is balancing the latest trends with an element of timeless style. Additionally, an interior design firm's work involves a variety of other challenges, from discovering the right suppliers to keeping up with the latest tools and technology to improve the efficiency of the work. The interior d e sign industry in the country, for instance, has been disrupted by virtual reality, which allows clients and designers to visualize and experiment. The cost of incorporating this technology in the industry is relatively high. A high gestation period for the project is another factor that hinders the growth of the market . Impact of COVID - 19 in the industr y COVID - 19 has drastically disrupted the economy, ha ving negatively affected global trade, households, businesses, financial institutions, industrial establishments, and infrastructure companies all at once. The COVID - 19 pandemic has threatened India's construction and engineering projects, and many project s have been cancelled during the nationwide lockdown imposed by the country to curb the spread of the virus. Thus, a financial crisis has negatively affected the country's construction industry, therefore reducing the demand for interior design . India Inte rior Design Marke t : By End - Us e Based on end - use, the India interior design market is segmented into commercial and residential. The commercial segment currently dominates the market and is likely to maintain its supremacy even during the forecast period. T he interior designing solution is experiencing a progressive evolution in the market because of the increased demand from commercial real estate. Due to the demand for commercial space, this sector is expected to grow substantially in the coming years. In India, the work culture is undergoing a great change, which has led to an evolution in the interior design and furniture of offices, which in turn is driving the commercial segment of India’s interior design market . India Interior Design Market Thriving: Projected to growing at a CAGR of 7.4% by 2027 India Interior Design Market : By Type of Decoratio n Based on the type of decoration, the India Interior Design Market is grouped into newly decorated, and renovated segment. The new decorated segment generated the highest revenue in 2020 and is likely to maintain its dominance over the forecast period. Indian real estate markets have experienced unprecedented growth over the past few years, primarily due to the office and residential space demand . The shift in India's work culture and the growing interest in luxury lifestyles are key factors driv ing growth in this category. With an increase in well - designed and elegant commercial spaces and newly decorated homes, the Indian interior design industry continues to grow . India Interior Design Market – Regional Insight s Based on region, India interior design marke t is segmented into North India, South India, East India, and West India. The Indian interior design market is dominated by North India and is expected to remain so even during the forecast perio d . Construction of housing projects by both publi c and private agencies contributes greatly to the growth of this region. The growing number of corporate offices in the region is also driving the growth of the India interior design market . Recent Developments in India Interior Design Marke t  September 202 1 - Flipspaces, a technology - enabled interior designer for office spaces, raised $2 million from a consortium of family offices and high networth individuals led by former IIFL AMC CEO Prashasta Seth .  September 202 1 - Design Caf, a Bengaluru - based online interior design startup has raised $25Mn (approx. INR 166 Cr) in a new Series B round led by WestBridge Capital and Fireside Ventures . India Interior Design Market: Competitive Landscap e The key players in the India interior design marke t are Home Interior Designs E - Commerce Pvt. Ltd., Lipika Sud Interior Pvt. Ltd., Chaukor Studio, The KariGhars, Morph Design Co., and Design Qube, and other manufacturers. The design market is heavily crowded with designers and s tudios, resulting in low profitability, but the market will likely grow in the upcoming years . Scop e Attribut e Detail s Years Considere d Historical data – 2017 - 202 0 Base Year – 202 0 Forecast – 2021 – 202 7 India Interior Design Market Thriving: Projected to growing at a CAGR of 7.4% by 2027 Facts Covere d Revenue in USD Billio n Market Coverag e U.S, Canada, Germany, UK, France, Italy, Spain, Brazil, Mexico, Japan, South Korea, China, India, Argentina, UAE, South Africa, Saudi Arabi a Product/Service Segmentatio n By End use, By Type of Decoration, By Regio n Key Player s Key players for India Interior Design Marke t are Home Interior Designs E - Commerce Pvt. Ltd., Lipika Sud Interior Pvt. Ltd., Chaukor Studio, The KariGhars, Morph Design Co., and Design Qube and other key manufacturers .  By End Us e o Commercia l o Residentia l  By Type of Decoratio n o Ne w o Renovation s  By Regio n o North Indi a o South Indi a o East Indi a o West Indi a India Interior Design Market Thriving: Projected to growing at a CAGR of 7.4% by 2027 About us Blueweave Consulting offers a one - stop solution for your market intelligence needs for any service or product. You get well - researched comprehensive reports based on qualitative and quantitative data to put your business plan into action. Your well informed and tim ely decisions using our reports avert situations of excessive risks and help you grow your business with optimum risk - return trade - off. Delivering quality insights into several product or service markets within the timeline as per the needs of the clients has earned BWC an excellent reputation among clients. BWC strives to provide timely and accurate digital market intelligence services for making your business endeavours successful. For more information, kindly visit our Website www.blueweaveconsulting.com contact us info@blueweaveconsulting.com India Interior Design Market Thriving: Projected to growing at a CAGR of 7.4% by 2027

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