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Interior Design Services Market 2024-2033: Future Outlook, Industry Share, Global Trends And Key Players Analysis
Interior Design Services Market
As per the report, the interior design services market size has grown strongly in recent years. It will grow from $121.17 billion in 2023 to $128.43 billion in 2024 at a compound annual growth rate (CAGR) of 6.0%. The interior design services market size is expected to see strong growth in the next few years. It will grow to $164.04 billion in 2028 at a compound annual growth rate (CAGR) of 6.3%.
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Growing Construction Industry Boosts The Interior Design Services Market
The growing construction industry is expected to propel the growth of the interior design services market going forward. The construction industry encompasses all activities involved in planning, designing, constructing, and maintaining structures, infrastructure, and buildings. The construction industry is rising due to increasing urbanization, infrastructure demands, and investment in real estate and public works projects. Interior design services are increasingly utilized in construction to create aesthetically pleasing and functional indoor spaces that align with clients' preferences and needs. For instance, in December 2023, according to the U.S. Census Bureau and the U.S. Department of Housing and Urban Development, a US-based government administration, construction spending during October 2023 was at a seasonally adjusted annual rate of $2,027.1 billion, which is 0.6% higher than the revised September estimate of $2,014.7 billion. During the first ten months, construction spending amounted to $1,646.0 billion, which is 5.6% higher than the $1,559.1 billion for the same period in 2022. Therefore, the growing construction industry is driving the growth of the interior design services market.
AI-Powered Interior Design Platforms Redefine Market Dynamics
Major companies operating in the interior design services market are focusing on developing innovative solutions, such as AI-based interior design platforms, to gain a competitive edge in the market. An AI-based interior design platform is a digital tool or software that utilizes artificial intelligence (AI) algorithms and technologies to assist users in designing interior spaces. For instance, in March 2024, Icon Technology Inc., a US-based company offering 3D-printed housing services and developing robotic and AI systems, launched Vitruvius, an artificial intelligence system designed to aid home design and construction. This AI system allows users to input their needs and preferences to produce floor plans, interior and exterior visualizations, and even essential construction documents. Vitruvius aims to simplify the creation of personalized floor plans and construction blueprints to generate complete construction schedules and budgets. The system combines design and construction expertise to create designs that are not only visually appealing but also practical for building purposes.
The interior design services market covered in this report is segmented -
1) By Type: Newly Decorated, Repeated Decorated
2) By Specialized Interior Design Services: Hospitality Interior Design, Healthcare Interior Design, Retail Interior Design, Office Interior Design, Restaurant Interior Design, Event And Exhibition Design
3) By End User: Commercial, Residential
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Major companies operating in the interior design services market are Jacobs Engineering Group Inc., AECOM Technology Corporation, Stantec Inc., Arcadis NV, SmithGroup Ltd., HDR Inc., Gensler, Perkins And Will Inc., Arcadis IBI Group, Nelson Worldwide Holdings Inc., Hirsch Bedner Associates Inc., HOK Group Inc., Foster + Partners Group Ltd., CallisonRTKL Inc., Cannon Design Inc., Perkins Eastman Inc., ZGF Architects LLP, Woods Bagot Architects Pty Ltd, Samoo Architects And Engineers Co. Ltd., IA Interior Architects , Areen Design Services Ltd., Rockwell Group LLC, Yabu Pushelberg, Avroko Design LLC , Rapt Studio Inc.
Contents of the report:
1. Executive Summary
2. Interior Design Services Market Report Structure
3. Interior Design Services Market Trends And Strategies
4. Interior Design Services Market - Macro Economic Scenario
5. Interior Design Services Market Size And Growth
…..
27. Interior Design Services Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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