Rapid Urbanisation, rise in disposable income and changes in standard of living will trigger the Interior Design Market
Published | March 2019
Changes in social environment and changes in standard of living among millennials will boost the global Interior Design market in upcoming year. Moreover, growth of the middle class population size and augmentation in their desire to strengthen their standing in the society will drive the global interior design market. Interior design is the practice of appreciating and recognizing people's behavior in order to construct a well-designed space within a building. It involves beautifying a particular space with adorable stuff. Interior designing involves planning, researching, directing, and handling various projects.
Furthermore, pollution-free environment in design is driven by both governmental initiative & regulation and the corporate responsibility policies of design firms and which mainly protect the health, safety, and welfare of the society will accelerate the growth of the market in the next few years. Moreover, with rapid changes in society, in which generational timeframes becoming shorter and shorter and lifestyle & work preferences of Millennials are different from previous generations, are growing influence in the global interior design market in upcoming periods. According to BlueWeave Consulting, The global Interior Design market is estimated to grow at a significant rate, during the forecast period 2018-2025 owing to technological advancements, rise in the innovations, augmentation in the demand, increased awareness and curiosity among the masses, change in the lifestyle, rise in the standard of living, and rise in the disposable income of the population.
Residential segment Interior Design market is projected to be the leading segment of the overall market during the forecast period
On the basis of Product type, the Interior Design market has been segmented into Residential, commercial and others. Residential segment dominates the global Interior Design owing to Influence of urbanization culture around the world in which people experiencing different kind cultures like values, food, festivals and lifestyles and work with people of different nationalities, cultures, and love. Corporate industry is expected to fastest growing market due to growing concerns of work spaces which have needed to focus more on building physical spaces and cultures that attract employees.
Newly Decorated projected to be leading application for utilizing Interior Design during forecast period
On the basis of application, the global Interior Design market has been segregated into Newly Decorated and Repeated Decorated. By application type, Newly Decorated will lead the market due to dynamic changing in economy, government initiatives regarding environment, security and differences in thinking and lifestyles among generations. Repeated decorated market will influence by corporate sector like retail sector and hospital sector will try to attract more numbers of consumers through physical evidence of their store and physical layout.
North America accounts for lion’s share of the global Interior Design market during the anticipated period.
On the basis of region, the Interior Design market has been segmented into North America, Europe, Asia Pacific, Middle East & Africa and Latin America. North America dominates the world Interior Design market over the forecast period owing to technological advancements, rise in the innovations, augmentation in the demand, increased awareness and curiosity among the masses, change in the lifestyle, rise in the standard of living, and rise in the disposable income of the population. Asia Pacific is projected to be the fastest growing market throughout the forecast period due to rapid urbanization, larger portion of millennial population which has different lifestyles & major attraction towards fashion industry and rapidly changing in social environment especially in China and India.
Global Interior Design Market Competitive Landscape
Companies, such as, Gensler, Gold Mantis, HOK, HBA, Perkins+Will,, Jacobs, Stantecare , IA Interior Architects, Callison, Nelson, Leo A Daly, SOM, HKS, DB & B, Cannon Design, NBBJ, Perkins Eastman, CCD, AECOM Technology, Wilson Associates, M Moser Associates, SmithGroup , Areen Design Services are the key players in providing Interior Design services. In terms of product offerings, Gensler, Gold Mantis, HOK, HBA, Perkins+Will, Jacobs, Stantec are the major players in the market.
The in-depth analysis of the report provides the growth potential, upcoming trends and statistics of Global Interior Design Market size & forecast. The report promises to provide state-of-the-art technology of Interior Design production and industry insights which help decision makers to take sound strategic decisions. Furthermore, the report also analyzes the market drivers and challenges and competitive analysis of the market.
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