According to our latest market study on "Interior Design Software Market Forecast to 2028 - COVID-19 Impact and Global Analysis - by Application and End User," the market is projected to reach US$ 6,872.11 million by 2028 from US$ 3,337.70 million in 2020; it is expected to grow at a CAGR of 9.8% from 2021 to 2028.
Interior design software is a valuable tool for architects to assess and improve the quality of interior settings during the early stages of the design process. With this software, architects can identify discrepancies between the proposed design and the actual structure, take preventative measures, and minimize the need for costly renovations or reconstructions. Additionally, the software offers a comprehensive range of furniture styles, including windows, doors, beds, and tables, to create accurate models of interior spaces. By reducing paperwork and documentation, interior design software increases productivity and streamlines the design process, resulting in significant time and cost savings for interior enterprises. The software also enables interior designers to tackle various challenges in the design process, such as space planning and architectural design, and present designs in 3D formats to provide clients with a better understanding of their vision.
Rising demand for interior design and decoration across the residential, commercial, and construction sectors is fueling growth in the global interior design software market. To offer users a seamless experience, business leaders are investing heavily in developing online applications that incorporate cutting-edge technologies such as artificial intelligence and Augmented Reality/Virtual Reality, resulting in innovative user interaction. Additionally, the market is benefiting from increased productivity resulting from reduced paperwork and documentation.
Impact of COVID-19 Pandemic on Interior Design Software Market
The COVID-19 pandemic has caused significant disruptions to industries and economies worldwide, with several countries, including the US, India, Brazil, Russia, the UK, France, Italy, Germany, Argentina, and South Africa, experiencing the worst effects. The interior design software industry has not been immune to these effects, with factory closures, travel restrictions, trade bans, and border lockdowns all contributing to its initial decline. However, the market is now showing signs of recovery and is expected to grow after the pandemic subsides. The commercial building sector has been hit particularly hard, with many businesses delaying office reopenings and expansions. As a result, more people are opting to renovate their homes, turning to interior design enterprises and architects for customized interior design solutions.
The COVID-19 pandemic has caused significant disruptions to industries and economies worldwide, with several countries, including the US, India, Brazil, Russia, the UK, France, Italy, Germany, Argentina, and South Africa, experiencing the worst effects. The interior design software industry has not been immune to these effects, with factory closures, travel restrictions, trade bans, and border lockdowns all contributing to its initial decline. However, the market is now showing signs of recovery and is expected to grow after the pandemic subsides. The commercial building sector has been hit particularly hard, with many businesses delaying office reopenings and expansions. As a result, more people are opting to renovate their homes, turning to interior design enterprises and architects for customized interior design solutions.
The interior design software market in North America experienced a downturn in 2020 due to the COVID-19 outbreak. As a result of the pandemic, several businesses suspended their operations, delayed office expansions, and offered work-from-home options to their employees. Economic slowdowns caused by COVID-19 measures have also contributed to the market's slow growth. Many companies have chosen not to invest in interior designs due to business shutdowns, lockdowns, and restrictions. As a result, the residential sector has been less affected than the commercial sector in the interior design software market in 2020.
Key Findings of Study:
The interior design software market is categorized based on end-user into individual and enterprise segments. In 2021, the enterprise segment held the largest market share. Based on application, the market is divided into the residential and non-residential sectors. The non-residential sector dominated the interior design software market in 2020, while the residential sector is projected to experience growth due to factors such as an increasing global population and a thriving construction sector. The non-residential sector encompasses establishments like banks, offices, warehouses, restaurants, theaters, hospitals, and schools, which are distinct from the residential sector that includes housing predominately like residential flats, row houses, houses, and apartments. Geographically, the interior design software market is segmented into North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA), and South America (SAM). In 2020, North America held the top position in the interior design software market.
Contact Us
Contact Person: Sameer Joshi
Phone: +1-646-491-9876
Email Id: sales@premiummarketinsights.com