Interior Design Services Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)

Interior Design Services Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)

During the COVID-19 pandemic, our attitude toward our home has changed significantly, affecting the entire interior design market. And according to the American Society of Interior Designers, 51% of designers have already adjusted to the new norm. The pandemic has dramatically changed consumption habits, as it happened during the previous one in 1918: People started to redesign their kitchens, bedrooms, and bathrooms.

Over the two years of the pandemic, more and more people began to visualize their living spaces, so brands started adopting AR technologies not as a gimmick but as a viable alternative to showcase their products and offerings. One of the most obvious applications is simply allowing consumers to place furniture in their current homes to see how it feels.

Globally, investments in real estate are increasing. Commercial real estate and co-working spaces are the most popular market investments. Interior design services will be demanded as the real estate market expands in the future. Many countries are strengthening their investments in tier 1 and tier 2 cities, which is boosting the number of interior designers in these cities around the world. Several architecture businesses are venturing into interior design. The interior design industry is primarily concentrated in urban areas.

China and Japan's massive construction industries are responsible for a significant percentage of the increase in the use of interior design solutions. Hotels and resorts updated their ancient buildings in readiness for the Olympic Games bringing in millions of foreign guests. Japan is one of the largest and fastest-growing markets for Finnish companies specializing in furniture and other interior design products, owing to the country's increased demand for interior design.

Government initiatives for public infrastructure in construction projects are playing a key role in driving the growth of the market. Investments in the construction of smart cities, airports, and commercial buildings by governments across the globe are driving the demand for smart planning and technology-integrated interior design services.

The popularity of co-working offices is expected to fuel the demand for innovative interior design, which includes sustainable and wellness-focused designs, recreational activity areas, and advanced IT infrastructure. Thus, the demand for integrated solutions from commercial space is likely to drive the growth of the integrated design services market.

The Asia-Pacific region is expected to be holding a high share of the interior designing services market. In APAC, China, Japan, and India are the most important markets for interior design services. The market in this region will increase at a quicker rate than the market in other regions. Increasing construction in developing countries, such as China and India, may contribute to the growth in the region. China's economy is expected to grow the highest because of changing global scenario in the market and its aspiring business and its astute leaders.

The interior design service market is fragmented in nature, as many players in the global market are trying to capture the market. Competition in the market has intensified due to the difference in the pricing of services in the market. Designers find it challenging to build a client base as young people pay less attention to interior designs. Also, many people themselves are indulging in designing homes in the market.

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