LONDON--(BUSINESS WIRE)--The global interior design services market is expected to post a CAGR over 4% during the period 2019-2023, according to the latest market research report by Technavio. Request a free sample report
With the increase in consumer expectation toward leisure, there is an increase in the introduction of smart workstations and rising renovations in modern shopping stores. It is also encouraging enhancement in luxurious interiors of hotels. In addition, there is a rise in the demand for smart planning and technology-integrated design services resulting from the development of smart cities, smart government institutes, airports, healthcare, and infrastructure for the public sector. This is driving the demand for innovative interior design which incorporate sustainable and wellness-focused designs, recreational activity areas, and advanced IT infrastructure. Thus, the growing demand for interior design services from the commercial infrastructure sector will boost the growth of the interior design service market during the forecast period.
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As per Technavio, the interior design service, will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Global Interior Design Service Market: Increasing Demand for Personalized and Customized Kitchen and Living Rooms
The growing trend of personalization and customization is influencing the purchase decision of residential consumers. As a result, vendors have been introducing personalized kitchens, such as the modular kitchen, pullman kitchen, and L-shape or peninsula kitchen designs. Vendors are also providing innovative designs for bathrooms and living rooms. Moreover, interior designers are maximizing space and ensuring near-zero wastage through innovative designs. Thus, with the increasing demand for personalized and customized kitchens, bathrooms and living rooms, the market for interior design services is expected to showcase a positive outlook during the forecast period.
“The increase in construction activities and introduction of premium interior designing services are some other major factors that will boost market growth during the forecast period,” says a senior analyst at Technavio.
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Global Interior Design Service Market: Segmentation Analysis
This market research report segments the global interior design service market by end-user (commercial and residential) and geography (APAC, Europe, MEA, North America, and South America).
The APAC region led the market in 2018, followed by North America, Europe, South America, and MEA respectively. During the forecast period, the APAC region is expected to maintain its dominance over the global market. This is due to the increasing demand for construction services from developing countries such as India and China.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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