Global Interior Design Software Market (2021 to 2026) – Growth, Trends, COVID-19 Impact and Forecasts – ResearchAndMarkets.com
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 was valued at USD 3,829 million in 2020, and it is expected to reach USD 6,433.9 million by 2026, registering a CAGR of 9.07% during the forecast period (2021 – 2026).
Companies Mentioned
- Autodesk Inc.
- Dassault Systemes SE
- Trimble Inc.
- SmartDraw LLC
- Foyr LLC
- Roomtodo OU
- ECDESIGN Sweden AB
- RoomSketcher AS
- Space Designer 3D
- BeLight Software Ltd
- Chief Architect Inc.
- Infurnia Technologies Pvt. Ltd
- EasternGraphics GmbH
- InnoPlanner Ltd
Key Market Trends
Residential Sector to Witness the Highest Growth
- Owing to the growing population and rising demand for a pleasant and comfortable living space, the residential sector is expected to have the highest growth rate over the forecast period.
- 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 the remodeling of 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 who can understand their vision and curate cost-effective designs for kitchens, living rooms, wardrobes, etc.
- Capturing this demand, the interior designing companies are using augmented and virtual reality, cloud computing, and 3D technology to offer customers seamless home interiors and renovation experience. 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.
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, has led to an augmented increase of residential apartments. For instance, according to the World Bank, the urbanization rate in China increased to 60.60% in 2019 from 57.90% in 2017.
- 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 platform. 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.
Key Topics Covered:
1 INTRODUCTION
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Industry Attractiveness – Porter’s Five Forces Analysis
4.3 Market Drivers
4.3.1 Want for better interior design and decoration
4.3.2 Rise in Government Initiatives for Promoting Construction and Real-estate Worldwide
4.4 Market Challenges
4.4.1 Interoperability Issues with Interior Design Software
4.5 Assessment of Impact of COVID-19 on the Industry
5 MARKET SEGMENTATION
5.1 End User
5.1.1 Residential Sector
5.1.2 Non-residential Sector
5.2 Geography
5.2.1 North America
5.2.2 Europe
5.2.3 Asia-Pacific
5.2.4 Latin America
5.2.5 Middle East & Africa
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
7 INVESTMENT ANALYSIS
8 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/ss2bb5
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