India Interior Design Market: Current Analysis and Forecast (2021-2027)

India Interior Design Market: Current Analysis and Forecast (2021-2027)

The interior design market of India is likely to showcase a growth of around 15% during the forecast period. Key factors influencing the growth of India’s interior design market are the growing population, increasing disposable income, rising urbanization, and rising demand for improved interior design. With the increasing urban population growth rate of around 2.3 % (According to World Bank), the demand for commercial and residential space is increasing every year. Furthermore, with the increasing demand for commercial and residential space, the demand for improved interior design is increasing which is bolstering the interior design market. Additionally, the benefits of interior design are further propelling the growth of the market, one of the main benefits of interior design is that it can maximize the amount of available space. Moreover, a modern interior design makes space equipped with the latest technological advances for maximum comfort.

Insights Presented in the Report
"Amongst application, commercial category held prominent market share in 2020”

On the basis of application, the interior design market is segmented into commercial and residential. Among these, the commercial segment held a prominent share in 2020 and is expected to witness strong growth during the forecast period. The most prominent factor driving the growth of this segment is the rapidly growing commercial real estate sector in India. For instance, according to India Brand Equity Foundation, the market size of real estate in India stood at US$ 180 Bn in 2020. 
"Amongst type of decoration, the new category held prominent market share in 2020”

On the basis of application, India’s interior design market is categorized into renovation and new. Among these, the new decoration type segment held a significant share of the revenue in the market in 2020 and would continue to grow at a steady rate during the forecast period. The growth of this segment can be attributed to the increasing urban population and the rising value of the Indian real estate market. For instance, according to World Bank, India had more than 470 million urban population in 2019, which raised to 480 Million in 2020. More population leads to more commercial and residential space which eventually leads to the growth of the interior design market.
"North India is likely to showcase substantial growth during the forecast period”

In 2020, North India held a prominent share in the interior design market, and the market is expected to grow at a robust rate during the forecast period. The construction of housing projects by both public and private agencies contributed greatly to the growth of the market in the North India region. The growing number of corporate offices in the region is also driving the growth of India’s interior design market.

Some of the major players operating in the market include Aamir & Hameeda, Livspace, Sobha Interiors, Ace Interiors, Acme Interiors, The KariGhars, Morph Design Co. by Prestige Construction, Design Qube, Carafina, and De Panache among others.

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• The study includes market sizing and forecasting analysis validated by authenticated key industry experts
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• The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments
• Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry
• The study comprehensively covers the market across different segments
• Deep dive country-level analysis of the industry