Market Research Report
India Interior Design Market - Growth, Trends, and Forecasts (2020-2025)
|Published by||Mordor Intelligence LLP||Product code||945885|
|Published||Content info||120 Pages
Delivery time: 2-3 business days
|India Interior Design Market - Growth, Trends, and Forecasts (2020-2025)|
|Published: June 1, 2020||Content info: 120 Pages||
The market for home interiors and renovation in India is estimated to be between USD 20 Billion- USD 30 Billion.
The interior design market is a crafty science enhancing the interiors of a space to achieve a healthier and aesthetically pleasing environment. The interior design business is developing rapidly in the Indian market.
Interior Design in India comprises of architects, interior designers, trade members, and educationists in the planning, designing and decorating the interior spaces. The growth in interior design is attributed to the growing Indian real estate market, growing population, rising income levels, and urbanization. Other factors that lead to a surge in demand for Interior designing services include smart homes, the influence of social media, and changes in the living standards and lifestyle of the people.
People are choosing theme-based designs for their commercial and residential spaces. Countless themes like the Mediterranean Style, the European Style, the Ethnic Indian Style of Design and Decor are getting common nowadays.
New innovations are taking place to make homes more tech friendly. Virtual Reality is disrupting the interior designing industry and has made visualizing and experimenting process easy for both client and designers. However, the cost of using this technology is too high for incorporating in the industry. Some of the factors that restrain the growth of the market are high gestation periods for the project.
Rise in Number of Interior Designers Across India
There are growing investments in real estate in India. The market is primarily seeing investments in commercial real estate and co-working spaces. As the real estate market is projected to grow in future the interior designing services will also be required for the same. There are growing investments in tire 1 and tire 2 cities in the nation which is leading to a rise in the number of interior designing and designers in India in these cities. Various architectures are shifting to the Interior designing market in India. The data also shows that the Interior Designing industry is more concentrated in urban areas.
Commercial Interior Design is Growing in the Market
With the steady growth in the demand from the commercial real estate, the interior designing solution has emerged as a progressive trend in the market. As commercial space demand surges, the sector is expected to further witness a tremendous opportunity to leverage in the coming years.
With the visible transition in the Indian work culture, office furniture and interiors have seen a major evolution. Office commercial spaces are expected to opt-out for various interior design services in the market. Old and established offices will also consider refurbishing their office spaces along with start-ups and new offices. Hotels are also coming up with design guidelines and pose as trendsetters combining creativity and sustainability.
The India Interior Design Market is fragmented and competitive in nature. Due to a lot of traction in the market for interior design services, there is crowding of designers and studios which is driving profitability low, but the market is expected to show growth in the coming years. Small and medium-sized designing companies dominated the market. The major players in the industry include Aamir & Hameeda, Livspace Lipika Sud Interior Pvt. Ltd., FDS, Chaukor Studio, among others.