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Key highlights of the report include:
Market Overview (2017-2027)
• Forecast CAGR (2022-2027): 5.0%
Interior design services are gaining momentum due to increasing investment by residents to improve the design of small rooms, kitchen and bedrooms for greater comfort. During the forecast period, increase in residential construction owing to rapid urbanization and rising living standards is expected to propel the demand for interior design services during the forecast period. Moreover, growing awareness among residents regarding the influence of interior design on lifestyle is likely to boost the market in the coming years. Geographically, Asia-Pacific accounts for a large share of the market owing to the high demand for homes from India and China, which can be attributed to the large population.
Industry definition and major segments
Interior design services are the type of services that aim to work on the components of a structure, which are excluded from exterior components such as structural stability and mechanical and electrical integrity of the construction. These components include drawings, specifications and interior space design to enhance occupant comfort.
On the basis of end-use, the market can be segmented into:
Regional markets for interior design services include:
• North America
• Asia Pacific
• Latin America
• Middle East and Africa
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Key trends in the interior design services market include increasing R&D activities of leading interior designers aimed at implementing innovative ideas and ensuring low wastage of space. Meanwhile, increasing investments in interior design in the commercial sector to increase business profitability and attract potential customers are expected to spearhead the growth of the market in the coming years. Moreover, the rapid development of hotels and restaurants due to increasing footfall is expected to accelerate the demand for interior design services. Additionally, the market is expected to be aided by the growing popularity and growing adoption of interior design as a profession among young people.
Main market players
Major players in the market are AECOM, Gensler. M. Arthur Gensler Jr. & Associates Inc., Jacobs Engineering Group Inc., Perkins & Will International Group of Companies and Stantec Inc., among others. The report covers market shares, capacities, plant rotations, expansions, investments, and mergers and acquisitions, among other latest developments of these market players.
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