DUBLIN--(BUSINESS WIRE)--The "Interior Design Software Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)" report has been added to ResearchAndMarkets.com's offering.
The Interior Design Software Market is expected to witness a CAGR of 9.07% over the forecast period from 2021 to 2026.
Companies Mentioned
- Autodesk Inc.
- Dassault Systemes SE
- Trimble Inc.
- SmartDraw LLC
- Foyr LLC
- Roomtodo OU
- ECDESIGN Sweden AB
- RoomSketcher AS
- Asynth (Space Designer 3D)
- BeLight Software Ltd
- Chief Architect Inc.
- Infurnia Technologies Pvt. Ltd
- EasternGraphics GmbH
- Topping Homestyler (Shanghai) Technology Co. Ltd.
Key Market Trends
Residential Sector to Witness the Highest Growth
- The residential sector is expected to have the highest growth rate over the forecast period, owing to the growing population and rising demand for a pleasant and comfortable living space. Residential design involves the design of the interior of private residences. The interior designer might work on a project from the initial planning stage or may work on remodeling an existing structure.
- With the increasing technological innovations, setting up a home is no longer a household affair. In the current scenario, many millennials who have unconventional living patterns consider their home decor as a reflection of their personality. Most homeowners prefer designing firms that can understand their vision and curate cost-effective designs for kitchens, living rooms, wardrobes, etc.
- Furthermore, interior designing companies are using augmented and virtual reality, cloud computing, and 3D technology to capture the growing demand to offer customers seamless home interiors and renovation experiences. Also, catching on the trend, startups like Livspace, HomeLane, Bonito Designs, Infurnia, and Spacejoy are eyeing significant growth in the segment by leveraging the funds to increase their user base.
- Moreover, with the upcoming smart cities and smart homes projects in the Asia-Pacific and Latin American regions, the residential segment's market is all set to grow over the forecast period.
Asia Pacific to Register the Highest Growth
- The Asia Pacific segment is expected to have the highest growth rate during the forecast period. Building infrastructure plans in the countries such as China and India are anticipated to be a significant contributor to the growth of the Asia-Pacific segment. According to the market study, India is expected to rank third in terms of volumes of constructions by 2030 with a target of 11 million buildings to be constructed, therefore highlighting bright prospects for the market studied.
- Growing urbanization and population growth in major cities in the Asia-Pacific, such as Beijing, China, Tokyo, Japan, and Mumbai, India, led to an augmented increase of residential apartments. For instance, according to a draught framework of the 14th Five-Year Plan for national economic and social growth and long-range targets until the year 2035, China plans to increase its urbanization rate to 65 percent between 2021 and 2025.
- Start-ups are disrupting the interior design ecosystem in the region. For instance, Livspace has grown to become one of India's largest home interiors and renovation platforms. The company has designed over 5,000 homes, a whopping 2 million square feet, and works with over 2,000 design partners. The company partnered with Brand Capital, the strategic investment arm of The Times Group, and was able to create a strong brand presence.
- Southeast Asia is particularly expected to have the potential for market expansion due to its burgeoning population, increasing urbanization, and economic growth in countries such as Thailand, Indonesia, Vietnam, the Philippines, and Malaysia. For instance, according to Statistics Indonesia (Badan Pusat Statistik), the construction sector is predicted to revive in 2021, with a growth of 7.1 percent, providing operations in Indonesia to return to normal levels.
Key Topics Covered:
1 INTRODUCTION
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET INSIGHTS
4.1 Market Overview
4.2 Industry Attractiveness - Porter's Five Forces Analysis
5 MARKET DYNAMICS
5.1 Market Drivers
5.1.1 Want for better interior design and decoration
5.1.2 Rise in Government Initiatives for Promoting Construction and Real-estate Worldwide
5.2 Market Challenges
5.2.1 Interoperability Issues with Interior Design Software
6 ASSESMENT OF IMPACT OF COVID-19 ON THE MARKET
7 MARKET SEGMENTATION
7.1 By End User
7.1.1 Residential Sector
7.1.2 Non-residential Sector
7.2 By Geography
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East and Africa
8 COMPETITIVE LANDSCAPE
8.1 Company Profiles
9 INVESTMENT ANALYSIS
10 FUTURE OF THE MARKET
For more information about this report visit https://www.researchandmarkets.com/r/1oc5kp
