India Interior Design Market, By End-Use (Commercial. Residential), By Type of Decoration (New, Renovations), By Region (North, South, East, West), Trend Analysis, Competitive Market Share & Forecast, 2021-2027
- Published Date: October 2021
- Report ID: BWC21114
- Available Format: PDF
- Page: 112
Report OverviewAmong the leading factors contributing to the growth of the India interior design market are rising income levels and urbanization. Social media platforms displaying interior design trends, the growing popularity of smart homes, and changes in lifestyles and standards, other factors that contribute to India's interior design market.
India Interior Design Market Size - Industry Trends & Forecast Report 2027
India interior design market was worth USD 23.2 Billion in 2020 and is further projected to reach USD 38.2 Billion by 2027, at a CAGR of 7.4% during 2021-2027 (forecast period). The Indian interior design market is being driven by the booming real estate market. Furthermore, the growing population, rising income levels, and urbanization contribute to the growth of the India internal design market. Other factors contributing to the increasing demand for interior design services include smart home technology, social media influence, and variations in lifestyles and living standards.
Source: BlueWeave Consulting
India Interior Design Market Overview
An interior designer's goal is to create an aesthetically pleasing environment inside a building. It impacts one’s daily lives, including the way one works and relaxes. Creating comfortable homes, functional offices, and stunning public spaces is the work of interior designers. The interior design industry in India consists of trade members, architects, and interior designers tasked with planning, designing, and decorating interior spaces. The country’s interior design market is driven by increased population, incomes, urbanization, and its burgeoning real estate market.
Increasing number of interior designers across India
Investors are gradually increasing their investments in India's real estate market. Most of the investments are concentrated in commercial properties and co-working spaces. Thus, the rising real estate market will also bolster demand for interior design services in India in the foreseeable future. A rise in investments in Tier I and Tier II cities of the nation is also contributing to the rising number of interior designers and architects in India for these cities. Additionally, many architecture firms are moving into India's interior designing market, strengthening the Indian interior design industry.
Rising Demand for Improved Interior Designing
With the influx of cultures and global trends, Indians are embracing new designs and decorations for their homes. When it comes to improving their home spaces, they are willing to spend more on interior designing services to receive customized designs that will make their look stand out from the crowd. Commercial interior design is also expected to increase in demand during the forecast period as businesses realize the importance of a beautiful work environment for improving employee performance. This is expected to contribute to the growth of India interior design market during the forecast period.
Though India’s interior design market is booming, interior designers in the country still face a lot hurdle. Nowadays, residential and commercial property owners prefer theme-based designs, such as the European Style, Mediterranean style, or the folkloric Indian style. Thus, the toughest part of the job of an interior designer is balancing the latest trends with an element of timeless style. Additionally, an interior design firm's work involves a variety of other challenges, from discovering the right suppliers to keeping up with the latest tools and technology to improve the efficiency of the work. The interior design industry in the country, for instance, has been disrupted by virtual reality, which allows clients and designers to visualize and experiment. The cost of incorporating this technology in the industry is relatively high. A high gestation period for the project is another factor that hinders the growth of the market.
Impact of COVID-19 in the industry
COVID-19 has drastically disrupted the economy, having negatively affected global trade, households, businesses, financial institutions, industrial establishments, and infrastructure companies all at once. The COVID-19 pandemic has threatened India's construction and engineering projects, and many projects have been cancelled during the nationwide lockdown imposed by the country to curb the spread of the virus. Thus, a financial crisis has negatively affected the country's construction industry, therefore reducing the demand for interior design.
India Interior Design Market: By End-Use
Based on end-use, the India interior design market is segmented into commercial and residential. The commercial segment currently dominates the market and is likely to maintain its supremacy even during the forecast period. The interior designing solution is experiencing a progressive evolution in the market because of the increased demand from commercial real estate. Due to the demand for commercial space, this sector is expected to grow substantially in the coming years. In India, the work culture is undergoing a great change, which has led to an evolution in the interior design and furniture of offices, which in turn is driving the commercial segment of India’s interior design market.
India Interior Design Market: By Type of Decoration
Based on the type of decoration, the India Interior Design Market is grouped into newly decorated, and renovated segment. The new decorated segment generated the highest revenue in 2020 and is likely to maintain its dominance over the forecast period. Indian real estate markets have experienced unprecedented growth over the past few years, primarily due to the office and residential space demand. The shift in India's work culture and the growing interest in luxury lifestyles are key factors driving growth in this category. With an increase in well-designed and elegant commercial spaces and newly decorated homes, the Indian interior design industry continues to grow.
India Interior Design Market – Regional Insights
Based on region, India interior design market is segmented into North India, South India, East India, and West India. The Indian interior design market is dominated by North India and is expected to remain so even during the forecast period. Construction of housing projects by both public and private agencies contributes greatly to the growth of this region. The growing number of corporate offices in the region is also driving the growth of the India interior design market.
Recent Developments in India Interior Design Market
- September 2021 - Flipspaces, a technology-enabled interior designer for office spaces, raised $2 million from a consortium of family offices and high networth individuals led by former IIFL AMC CEO Prashasta Seth.
- September 2021- Design Café, a Bengaluru-based online interior design startup has raised $25Mn (approx. INR 166 Cr) in a new Series B round led by WestBridge Capital and Fireside Ventures.
India Interior Design Market: Competitive Landscape
The key players in the India interior design market are Home Interior Designs E-Commerce Pvt. Ltd., Lipika Sud Interior Pvt. Ltd., Chaukor Studio, The KariGhars, Morph Design Co., and Design Qube, and other manufacturers. The design market is heavily crowded with designers and studios, resulting in low profitability, but the market will likely grow in the upcoming years.
Historical data – 2017-2020
Base Year – 2020
Forecast – 2021 – 2027
Revenue in USD Billion
U.S, Canada, Germany, UK, France, Italy, Spain, Brazil, Mexico, Japan, South Korea, China, India, Argentina, UAE, South Africa, Saudi Arabia
By End use, By Type of Decoration, By Region
Key players for India Interior Design Market are Home Interior Designs E-Commerce Pvt. Ltd., Lipika Sud Interior Pvt. Ltd., Chaukor Studio, The KariGhars, Morph Design Co., and Design Qube and other key manufacturers.
- By End Use
- By Type of Decoration
- By Region
- North India
- South India
- East India
- West India
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