The new report by Expert Market Research titled, ‘Global Interior Design Services Market Report and Forecast 2022-2027’, gives an in-depth analysis of the global interior design services market, assessing the market based on its segments like end-uses, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
The key highlights of the report include:
Market Overview (2017-2027)
• Forecast CAGR (2022-2027): 5.0%
Interior design services are gaining traction owing to the increasing investments by the residents to enhance the design of small rooms, kitchen, and bedrooms for greater comfort. Over the forecast period, the increasing residential construction owing to the rapid urbanisation and increasing standards of living is anticipated to propel the demand for interior design services in the forecast period. Moreover, the increasing awareness among the residents pertaining to the influence of interior designing on the lifestyle is likely to provide impetus to the market in the coming years. Geographically, the Asia Pacific accounts for a significant share in the market owing to the high demand for houses from India and China, which can be attributed to the large population base.
Industry Definition and Major Segments
Interior design services are the type of services which are aimed at working on the components of a structure, which are excluded from the exterior components such as structural stability, and mechanical and electrical integrity of the construction. These components include drawings, specifications, and designing of the interior space in order to bolster the comfort of the occupants.
On the basis of end-use, the market can be segmented into:
The regional markets for interior design services include:
• North America
• Asia Pacific
• Latin America
• Middle East and Africa
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The key trends in the interior design services market include the growing R&D activities by the major interior designers aimed towards execution of innovative ideas and ensuring low wastage of space. Meanwhile, the increasing investments on the interior design in the commercial sector to increase the profitability of businesses and attract potential customers are likely to spearhead the market growth in the coming years. In addition to this, the rapid development of hotels and restaurants owing to the increasing footfall is anticipated to accelerate the demand for interior design services. Furthermore, the market is anticipated to be aided by the increasing popularity and growing adoption of interior designing as a profession among the youth.
Key Market Players
The major players in the market are AECOM, Gensler. M. Arthur Gensler Jr. & Associates Inc., Jacobs Engineering Group Inc., Perkins & Will International Group of Companies, and Stantec Inc., among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.