India Home Decor Market Analysis and Growth Forecast Report 2021-2030: People Are Investing More to Make Their Spaces Wealthier – ResearchAndMarkets.com

DUBLIN–(BUSINESS WIRE)–India Interior Design Market Research Report – Industry Analysis and Growth Forecast to 2030 has been added to from ResearchAndMarkets.com offer.

The market reached $22 billion in revenue in 2020, and it is likely to see a huge expansion from 2021 to 2030.

Rising rate of urbanization, increasing real estate activities, growing population, rising per capita income, and initiation of government construction and infrastructure development projects are fueling the expansion of the Indian market interior design.

The COVID-19 pandemic has severely disrupted global trade, operations of financial organizations, industrial establishments, infrastructure companies, households and businesses. This has also affected engineering and construction projects in India, which subsequently caused a massive financial setback for construction companies, reducing the need for interior design services and hampering market progress.

The Indian interior design market is categorized into residential and commercial, based on the end use. Among these, the commercial category is expected to contribute the highest revenue in the market in 2030. As the working culture of the country changes, commercial establishments and offices require high-end interior design services.

This in turn fuels the demand for professional interior designers who can make the space functional, comfortable and in line with the philosophy of the company that will be renting the office space. They give a professional appearance to the establishment which would otherwise be difficult to achieve.

The interior design market in India is divided into renovations and new builds based on the type of decoration. Between the two, the new category dominated the market in 2020, and it is expected to maintain its dominance over the forecast period, due to the increasing need for houses due to the boom in urban population.

As people are rapidly moving to the secondary and tertiary sectors, which are mainly based in urban areas, from the primary sector to earn a living, the population of urban areas is skyrocketing, resulting in the need for urban housing. Additionally, the growing corporate sector in Indian metropolises is supporting the growth of the market.

North India held the largest share of the Indian interior design market in 2020, and this trend is expected to continue in the coming years. This is attributed to the initiation of numerous housing projects by public bodies and private builders and the growing number of multinational and national corporate headquarters in the region.

Players in the Indian interior design market are entering into collaborations to offer new interior design solutions to clients.

In August 2019, Livspace (Home Interior Designs E-Commerce Pvt. Ltd.), which is a home renovation and design platform in India and various countries in Southeast Asia, and Signify NV entered into a partnership .

Under the terms and conditions of the collaboration, lighting products developed by Signify NV are now available to architects and interior designers in India designing and renovating homes on Livspace’s platform.

Market dynamics

Tendencies

  • Thematic office and home interiors

  • People are investing more to make their spaces more affluent

Drivers

  • Growth in real estate activities and increase in the rate of urbanization

  • Increase government initiatives to promote and develop real estate

  • Population growth and increase in disposable income

Constraints

  • Long project gestation periods

Impact of COVID-19

Value chain analysis

Porter’s Five Forces Analysis

Companies cited

  • Livspace Pte. ltd.

  • Sobha limited

  • The KariGhars

  • CEE BEE Design Studio

  • Together Infrastructure India Ltd.

  • The Sorogeeka Interiors Pvt. ltd.

  • Futomic Design Services Pvt. ltd.

  • Drawings by Gauri Khan

  • SAMIKA DESIGN SOLUTIONS PVT. LTD.

  • DRAWINGS BY BONITO

  • Interior concepts Savio & Rupa

  • Morph Design Company

  • Aamir & Hameeda Interior Designers (AANDH)

  • Home2decor

  • Homevista Decor and Furniture Private Limited

  • Hohm Editors Interior Design Studio

  • DesignQube

  • Carafina Interior Designers

  • From PANACHE

  • Acme Interiors Pvt. ltd.

For more information about this report visit https://www.researchandmarkets.com/r/pxrihj

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