Author: Himanshu Patni
08 July 2022
India’s Interior Design Market is expected to grow at a CAGR of around 15% during the forecast period (2021-2027). Interior design is about creating an efficient layout to make use of most of a room’s potential in terms of use and aesthetics while taking into account the characteristics of the space and the desired style of customers. The objective of interior design is to arrange the space to optimize the zones with an accurate style that matches the needs, the personality, and the specific tastes of the customer. The interior designer must have good taste and creativity to select the right combination of colors, materials, furniture, and decoration that will not only produce a beautiful layout but will manage constraints and ensure that it is functional. It has the ability to showcase even a studio apartment as a residence that has enough space with the help of good interior design and comforting lighting. Whereas, a poor interior design can make a larger house that lacks space. Interior design in India comprises architects, interior designers, trade members, and educationists in the planning, designing, and decorating the interior spaces.
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The major factors driving the growth of India’s interior design market are the increase in disposable income, urbanization, and the rising value of the Indian real estate market. One of the main benefits of interior design is that it can maximize the amount of available space. Further on, according to the World Bank, the urban population growth in India was around 2.3 % in 2020, the major reasons for the growth in the urban population include better housing and services, healthcare, education, more jobs, higher wages, better living conditions with a safer environment and rising urban population is driving the need for urban housing and interior designing.
Based on application, the market is segmented into commercial and residential. In 2020, commercial interior design accounted for a prominent share in India’s interior design market. This can mainly be attributed to increasing investment in the real estate sector. The rapid urbanization in major cities, such as Delhi, Mumbai, Ahmedabad, Bangalore, Chennai, Kolkata, Hyderabad, and Pune, is reshaping the traditional way of living. Commercial space demand surges and the sector is expected to further witness a tremendous opportunity during the forecast period.
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On the basis of type of decoration, the market is categorized into renovation and new. Among these, the new decoration segment held a significant share in the market and is expected to grow at a steady rate during the forecast period. The shift in India’s work culture and the growing interest in luxury lifestyles are key factors driving the growth of this category. This is leading to the development of new designer commercial spaces and well-designed, beautiful homes, hence helping in the growth of the India’s interior design market.
For a better understanding of the market adoption of the interior design industry, the market is analyzed based on its nationwide presence in the regions such as North, South, East, and West India. In 2020, North India held a prominent share in India’s interior design market due to the increasing urbanization rate, increasing investments in the real estate sector, an increasing number of national and international corporate offices in the Delhi-National Capital Region (NCR), and a rising number of residential projects introduced by public organizations and private builders, in the region.
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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.
Chatbot Market Segmentation
Market Insight, by Application
Market Insight, by Type of Decoration
Market Insight, by Region
Top Company Profiles
• Aamir & Hameeda
• Livspace• Sobha Interiors• Ace Interiors• Acme Interiors• The Karighars• Morph Design Co. by Prestige Construction• Design Qube• Carafina• De Panache
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