USD 42 billion
Report ID: SQMIG25R2005 | Region: Global | Published Date: August, 2022 | Pages: 165 | Tables: 62 | Figures: 75
Global Interior Design Services Market size was valued at USD 42 billion in 2021 and is poised to grow from USD 45.1 billion in 2022 to USD 79.6 billion by 2030, growing at a CAGR of 7.4% in the forecast period (2023-2030).
Interior design is a broad field where creative and technology design ideas are applied to finish or improve an interior setting according to the preferences of the client. Companies that are experts in project planning, design, and management in a variety of interior environments make up the interior design sector. Interior design companies and consultants must take necessary building laws and health and safety requirements into consideration for all projects. Along with any technical or electrical needs, floor plans, furniture, and interior decor must all be taken into account by designers. The quantity of projects that interior design businesses accept, the precision of their bids, and the prompt delivery and completion of those projects all affect how profitable they are. People are choosing theme-based designs for both their workplaces and homes. Nowadays, a number of themes are growing in popularity, including the Ethnic Indian Style , European Style, and Mediterranean Style of Design and Decor. Interior design services are an example of the growing demand for smart homes, the impact of social media, and changes in living standard of people and lifestyles. As a result, the market for interior design will expand during the forecast period.
US Interior Design Services Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 42 billion
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The Global Interior Design Services Market is segmented based on design type, application and region. Based on Design Type, Interior Design Services Market is categorized into Newly Decorated and Repeated Decorated. Based on Application, Interior Design Services Market is categorized into Residential, Commercial, and Others. Based on region, Interior Design Services Market is categorized into North America, Europe, Asia Pacific, The Middle East and Africa, and Latin America.
Interior Design Services Market Analysis by Application
On the basis of application, the residential segment is currently dominating the global interior design services market. The residential sector commands the global interior design market due to increased consumer income and purchasing power as well as rising home ownership rates. In the coming years, the sector will also profit from the influence and exposure of different cultures and lifestyles. The business sector is the one that is expanding the fastest due to increased worries about workplaces, which place a greater emphasis on creating physical environments and cultures that attract people.
On the other hand, the commercial segment is projected to grow significantly over the forecast period. Government programs for public infrastructure in building projects are a major factor in the market's expansion. Governments all over the world are making investments in the development of the smart cities, airports, and commercial buildings, which is increasing demand for smart planning and technology-integrated interior design services. The demand for innovative interior design, such as sustainable and wellness-focused designs, enjoyable activity areas, and cutting-edge IT infrastructure, is anticipated to increase as co-working offices become more and more popular. As a result, the market for integrated design services is projected to expand growing demands for integrated solutions from the commercial sector.
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Based on the region, the North American region currently dominates the global interior design services market. The market for interior design is dominated by North America because of regional demographic changes, cultural fusion, and new interior design technologies in the region.
On the other hand, Asia Pacific is expected to lead the market over the forecast period. The Asia-Pacific region is anticipated to account for a large portion of the market for interior design services over the forecast period. Growing construction in developing nations like China and India may support regional expansion. China's economy is predicted to grow at the fastest rate due to the market's shifting global environment, its aspirant businesses, and its savvy leaders. However, due to its multicultural population, high level of living, and growing disposable income of its citizens, North America holds the largest portion of the industry. Designers assist in developing spaces and in the search for cutting-edge ideas. Growing nuclear families and the region's immigrant population are further market-drivers.
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Interior Design Services Market Drivers
Interior Design Services Market Restraints
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The interior design services industry is highly fragmented due to the numerous businesses competing for market share. Due to the variations in prices of services in the market, competition has increased. Developing a clientele is difficult for designers since young people are less interested in interior design. Additionally, a lot of people are designing homes for sale themselves.
Interior Design Services Market Top Players Company Profiles
Interior Design Services Market Recent Developments
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyzes the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to the analysis, the global interior design services market is currently led by countries in the North American region, due to the regional demographic changes, cultural fusion, and new interior design technologies in this region. Along with this, the commercial segment is projected to lead the market mainly due to Government programs for public infrastructure in building projects, over the forecast period.
|Market size value in 2021||USD 42 billion|
|Market size value in 2030||USD 45.1 billion|
|Forecast Unit (Value)||USD Billion|
|Regions covered||North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)|
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Parent Market Analysis
KEY MARKET INSIGHTS
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Global Interior Design Services Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Interior Design Services Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
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