India Interior Design Market By End Use (Commercial, Residential) By Type of Decoration (New Renovations) - Growth, Future Prospects & Competitive Analysis, 2016 – 2028
The India interior design market report explores the critical analysis of the industry using key parameters. The report consists of investment strategies, the need for investments in the India interior design industry, and the multiple benefits for the investors. Importantly, this report sets out major changes in the technical regulations for the India interior design industry and how economic and non-economic barriers are helping the potassium derivatives market grow. Moreover, the report analyses the country-level historic and forecasted market size. The report also provides a comprehensive analysis of key investment propositions, demand and supply gap, competitors positioning, STAR analysis, SRC analysis, and Tornado analysis. Key technological developments and other analyses such as porter's five forces analysis, PESTEL analysis, value chain analysis, etc.
India Interior Design Market Competitive Landscape
· Market Share Analysis
· Competitive Benchmarking
· Key Players Market Positioning
· Geographical Presence Analysis
· Major Strategies Adopted
Key Highlights of the report
How are the major segments performing in the India Interior Design market?
In 2021, the commercial segment dominated the market. Interior design services are steadily evolving due to the rising demand from commercial real estate.
The new decorated segment brought in the most revenue in 2021. The need for commercial and residential space has been a major factor in the phenomenal rise of the Indian real estate markets over the past several years.
Which region dominated the Indian interior design market?
In 2021, North India will now dominate the Indian interior design industry, which is anticipated to continue during the projection period. Housing projects built by both governmental and private organizations have a significant positive impact on the development of this area.
What is the competitive environment of the India interior design market?
India interior design industry's competitive environment provides information on the entire economic profit made by suppliers and businesses, the sales and revenues created in this sector, the India interior design market share, the business organization summary, the introduction of new products, and the opportunities for the industrial India interior design market. The interior design industry in India is very competitive and fragmented. The demand for interior design services has resulted in a high concentration of studios and designers, lowering profitability. Despite this, the market is anticipated to rise over the next few years. Small and medium-sized design firms dominated the market.
Executive Summary
Which are the key investments by the India interior design market players?
Leading players operating in the India interior design market are focusing on expansion in India interior design market. Players also concentrate on strategic mergers, acquisitions, and collaborations to gain a competitive edge. For instance, in September 2021 - Former IIFL AMC CEO Prashasta Seth gathered a group of family offices and high-net-worth people to invest $2 million in Flipspaces, a technology-enabled interior designer for office spaces. In September 2021: WestBridge Capital and Fireside Ventures led a $25 million (about INR 166 crore) Series B round of funding for Bengaluru-based online interior design firm Design Café.
Some major players in the India interior design market are Livspace Pte. Ltd., Sobha Limited, The KariGhars, CEE BEE Design Studio, Ensemble Infrastructure India Ltd., La Sorogeeka Interiors Pvt. Ltd., Futomic Design Services Pvt. Ltd., Gauri Khan Designs, SAMIKA DESIGN SOLUTIONS PVT. LTD., BONITO DESIGNS, Savio & Rupa Interior Concepts, Morph Design Company, Aamir & Hameeda Interior Designers (AANDH), Home2decor, Homevista Decor and Furnishing Private Limited, Hohm Editors Interior Design Studio, DesignQube, Carafina Interior Designers De PANACHE, and Acme Interiors Pvt. Ltd.
What are the Major Driving Factors for the India Interior Design Market?
The real estate segment in India is experiencing a rise in investor capital. Co-working spaces and commercial real estate are where most investments are concentrated. So, shortly, The demand for interior design services will rise as the real estate market in India expands. The number of architects and interior designers working in India's Tier II and Tier I cities is also increasing due to the rise in investments in these areas. India's interior design business is also growing as many architecture companies enter the country's interior design sector.
What are the Major Risks for the India Interior Design Market?
Despite India's growing interior design industry, designers still have several obstacles. Nowadays, owners of both commercial and residential properties require designs with a specific theme, such as the Mediterranean, traditional Indian styles, or European. Thus, balancing the latest trends with a component of conventional style is the toughest part of an interior designer's job. The work of an interior design firm also involves several other challenges, such as finding the right suppliers and staying advanced with technologies and tools to increase efficiency. For instance, India's interior design sector has been affected by VR (Virtual Reality), which helps designers and clients to explore. The cost of implementing this technology in the sector is fairly considerable. Another factor impeding market expansion is the lengthy gestation period for the project.
Which is the key end-use segment in the India interior design market?
The India interior design market is divided into end-use categories: commercial and residential. The commercial segment controls the market. Interior design services are steadily evolving due to the rising demand from commercial real estate. This industry is expected to have significant growth during the projection period due to the demand for commercial space. India's office environment and furnishings are evolving due to India's rapidly advancing work culture, which is also driving India's commercial interior design market.
How is the India interior design market performing in regions?
Investments in real estate are growing in India. From an investment standpoint, commercial real estate and co-working spaces are the most common in the nation. Interior design services will be highly sought as the real estate market is predicted to grow. People are choosing theme-based designs for both their workplaces and homes. Themes like Mediterranean, European, and ethnic Indian are growing in popularity these days. Interiors that are distinctive, lovely, and sensory-pleasing can be created by combining various decorating styles, including contemporary, modern, classic, Indo-Western, and Western. North India now dominates the Indian interior design market and is projected to hold during the forecast period. Governmental and private housing construction initiatives have had a considerable positive impact on the growth of this region.
Which is the key type of decoration in the India interior design market?
The India interior design market is divided into two segments based on the type of decoration: newly decorated and restored. The sector with new decorations brought in the most money in 2020 and is predicted to continue to lead during the projected period. The need for commercial and residential space has been a major factor in the phenomenal rise of the Indian real estate markets over the past several years. Growth in this category is mostly driven by India's rapidly changing work culture and an increasing desire for luxurious lifestyles. The Indian interior design market is expanding due to increased tastefully adorned residences and elegantly planned business spaces.
What is the Market Size of India Interior Design regarding value?
The Indian interior design market is anticipated to grow at a substantial CAGR of 7.20% in the upcoming years. The Indian interior design industry was estimated to be worth USD 21.2 billion in 2021 and was expected to be worth USD 32.2 billion by 2028.
What are the major players planning for the future of the Indian interior design market?
Lipika Sud Interior Pvt. Ltd., Home Interior Designs E-Commerce Pvt. Ltd., Chaukor Studio, The Morph Design Co., KariGhars, Design Qube, and other suppliers are the major participants in the Indian interior design business. The design industry is oversaturated with studios and designers, which leads to low profitability, yet the market is expected to expand in the next few years. Hence, major players plan to provide unique design services to gain a competitive advantage.
Segmentation of India Interior Design Market-
India Interior Design Market – By End Use
Commercial
Residential
India Interior Design Market – By Type of Decoration
New
Renovations
Frequently asked questions about the India interior design market
The economy has been severely disrupted by COVID-19, which had a detrimental impact on households, enterprises, financial institutions, industrial establishments, and infrastructure firms.
North India accounted for the most heightened share in the India interior design market.
Increasing residential and commercial development projects to drive the India interior design market.
The commercial segment had a major global market share in 2021.
The new segment had a major share in the global market.
