DUBLIN--(BUSINESS WIRE)--The "Interior Design Software Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Application and End User" report has been added to ResearchAndMarkets.com's offering.
Interior Design Software 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 helps architects assess the quality of interior settings early in the design process. The software enables architects to detect, monitor, and access any discrepancies between the suggested design and the actual structure.
It also assists architects in taking preventative steps and lowering the need for renovation and reconstruction. Interior design software offers a comprehensive list of furniture, including windows, doors, beds, and tables in various styles, to assist the designer in creating an accurate model of the area. The software helps interior enterprise increase their productivity by reducing their reliance on paperwork and documentation of building interior designs. It also aids businesses in speeding up the design process and lowering the time and expense of interior design work.
Thought formulation, field research, space planning, architectural design challenges, and interior design performance are all part of the interior design process. Moreover, interior designers use this software to show designs in a 3D format to provide customers with a better knowledge of interior designs.
The global interior design software market growth is mainly driven by the increasing demand for interior designing and decoration in the residential, commercial, and construction sectors.
With the novel advancements in artificial intelligence and Augmented Reality/Virtual Reality business leaders are investing heavily in developing online applications that are easy to use, provide best experience for users, and offer innovative user interaction. The increased productivity due to reduced reliance on paperwork and documentation is another factor driving the demand for interior design software market growth.
Impact of COVID-19 Pandemic on Interior Design Software Market
According to the latest situation report from the World Health Organization (WHO), the US, India, Brazil, Russia, the UK, France, Italy, Germany, Argentina, and South Africa are a few of the worst-affected countries due to the COVID-19 pandemic. The pandemic has adversely affected industries and the global economy.
The factory shutdowns, travel restrictions, trade bans, and border lockdowns have adversely affected the interior design software industry. The interior design software market had a severe impact initially; however, the market is reviving and expected to grow post-pandemic.
Moreover, the commercial building sector is the worst-hit sector as the COVID-19 pandemic has forced many business firms to delay office reopening and further expansions. People are now renovating their houses by hiring interior enterprise and architects to design interiors of their choice.
North America is one of the most critical regions for the uptake and development of new technologies due to favorable government policies that boost innovation, the presence of a robust industrial base, and high purchasing power, especially in developed countries, such as the US and Canada. Hence, any impact on industries' growth is expected to affect the region's economic growth adversely.
In 2020, the COVID-19 outbreak adversely affected the interior design software market in North America as several business enterprises discontinued their operations, postponed their office expansions, and multiple companies had provided the option of work-from-home. The low growth is mainly due to economic slowdown across countries due to the COVID-19 pandemic and its measures.
Many companies are not investing in interior designs because of shutdowns of businesses and offices, lockdowns, and restrictions, and hence they are providing work-from-home options to their employees. In 2020, the interior design software market in the commercial sector was disrupted more than the residential sector.
Key Findings of Study:
Based on end user, the interior design software market is segmented into individual and enterprise. In 2021, the enterprise segment led the interior design software market and accounted for a larger market share. Based on application, the market is bifurcated into residential and non-residential sector.
In 2020, the non-residential segment led the interior design software market. A residential area or sector include a land in which the housing predominates. The residential area includes residential flats, rowhouses, houses, apartments among others.
The residential sector is expected to witness growth owing to factors such as, booming construction sector, increasing population across the globe. And Non-residential sector is a sector that is distinct from that of residential sector. Non-residential sectors include things like, banks, offices, warehouses, restaurant, theater, hospital, school among others.
Geographically, in 2020, North America led the interior design software market.
Key Market Dynamics
Market Drivers
- Rapid Urbanization and High Demand for Personalized Interiors
- Increase in Demand for Interior Designing, Decorations As Well As Freelancers and Contractors
Market Restraints
- Availability of Free Software
Market Opportunities
- Rising Adoption of Smartphones and Tablets to Propel Demand for Cloud-Based Software
Market Trends
- Integration of Advanced Technologies
Companies Mentioned
- Autodesk Inc.
- Chief Architect, Inc.
- Dassault Systemes Se
- Ecdesign Sweden Ab
- Roomsketcher As
- Roomtod- Ou
- Smartdraw, LLC
- Asynth
- Foyr
- Planner 5D
For more information about this report visit https://www.researchandmarkets.com/r/r6pp2z
