Industry Overview:
The latest report by IMARC Group, titled “India Interior Design Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” offers a comprehensive analysis of the industry, which comprises insights on the interior design market size in India 2022. The report also includes competitor and regional analysis, and contemporary advancements in the market. The India interior design market size reached US$ 28.6 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 51.4 Billion by 2028, exhibiting a growth rate (CAGR) of 10.3% during 2023-2028. Interior design is a composite industry in which clients’ criteria are used to finish or enhance an interior setting using inventive and technological design concepts. Interior designers develop functional, comfortable, and beautiful interior designs by analyzing space requirements and selecting decorative items, such as color schemes, lighting, and materials. It is a broad field that includes abstract development, space planning, site verification, programming, research, construction administration, and design execution. Various interior design themes, such as Mediterranean Style, European Style, and Ethnic Indian Style of design and decor, are becoming increasingly popular nowadays.Industry Demand:
The market in India is primarily driven by improving the standard of living among millennials. In line with this, rapid urbanization and inflating disposable income are positively influencing the market. With the increasing construction work due to government and private investments, the demand for interior design is escalating. Furthermore, the rising number of residential and commercial sites is estimated to augment significantly in the upcoming years due to rapid urbanization. Apart from this, the construction of commercial buildings, such as shopping complexes, co-working spaces, set-up of conglomerate business stores, and public spaces like restaurants, is catalyzing the market. With the growing exposure to various cultures and global trends, Indian people are preferring innovative designs and decorations in their homes. They are willing to spend more on enhancing their residential spaces and hire interior designing services to receive custom designs for their home, making their living space stand out from the crowd.Industry Growth:
Significant growth in the corporate sector is significantly contributing to the market expansion due to an enhanced focus on creating physical environments and cultures that attract employees. With the widespread demand for technologically aided and futuristic office and working spaces, the Indian interior design market players are receiving an incredible amount of demand from the commercial real estate players, thus providing a boost to the market. The rapid preference for smart houses and the influence of social media is also propelling the market. Besides this, the growing number of interior designers and interior design firms in India is strengthening the market. Additionally, the introduction and rapid integration of virtual reality (VR) technologies are creating a positive outlook for the market.India Interior Design Market 2023-2028 Analysis and Segmentation:
Breakup by Decoration Type:
- New
- Renovation
By End User:
- Residential
- Commercial
By Region:
- North India
- West and Central India
- South India
- East India
Key Highlights of the Report:
- Market Performance
- Market Outlook
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
