Global Interior Design Software Markets 2020-2025 - Home Buying Decisions Expected to Be Postponed due to the Outbreak of COVID-19

DUBLIN, June 25, 2020 /PRNewswire/ -- The "Interior Design Software Market - Growth, Trends, Forecasts (2020-2025)" report has been added to ResearchAndMarkets.com's offering.

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The global interior design software market was valued at USD 3,829 million in 2019, and it is expected to reach a value of USD 6,433.9 million by 2025, registering a CAGR of 9.07% over the forecast period 2020-2025.

Key Highlights

    --  The number of interior design firms is increasing significantly across
        the globe, and with it, the revenues generated by the firms is
        increasing as well. According to Sandow's Interior Design resource, in
        2019, the global value of interior design fees stood at around USD 5
        billion and observed a growth of nearly USD 600 million compared to the
        previous year.
    --  One of the major drivers behind the demand for interior design software
        is the improved productivity gained by reducing dependency on paperwork
        and documentation; this also helps the organizations to reduce their
        overall cost related to interior design by offering enhanced budgeting
        tools. Moreover, the software enables architects to prepare a detailed
        layout of the floor, including accurate measurements, flooring, windows,
        walls, doors, lighting, cabinets, furniture, etc.
    --  Virtual walkthroughs are increasingly becoming common amongst
        architecture firms as it helps convert the businesses and gain a correct
        point of view of the clients; for instance, WHA Architecture in the US
        is using Autodesk CAD, Sketchup, Lumion, and Vray solutions and enables
        its clients to virtually visualize the project via a 360-degree
        rendering.
    --  With the advent of 5G and the growing power of computational devices, VR
        application in the interior design solutions is expected to grow
        significantly over the forecasted period; this allows graphics to become
        more realistic and render fast.
    --  With the recent outbreak of Covid-19, home buying decisions are expected
        to be postponed by a majority of buyers till the mid of 2021. Various
        business enterprises are also expected to either halt or postpone their
        commercial office expansion plans for the same period; such developments
        are expected to negatively impact the demand for interior design
        softwares. Commercial building sector is expected to be the worst hit
        due to slumping revenues and closure of their businesses during the
        lockdown period.

Market Trends

Residential Sector to Witness the Highest Growth

    --  Owing to the growing population and rising demand for a pleasant and
        comfortable living space, the residential sector is expected to have the
        highest growth rate over the forecast period.
    --  Residential design involves the design of the interior of private
        residences. The interior designer might work on a project from the
        initial planning stage or may work on the remodeling of an existing
        structure.
    --  With the increasing technological innovations, setting up a home is no
        longer a household affair. In the current scenario, many millennials who
        have unconventional living patterns, consider their home decor as a
        reflection of their personality. Most homeowners prefer designing firms
        who can understand their vision and curate cost-effective designs for
        kitchens, living rooms, wardrobes, etc.
    --  Capturing this demand, the interior designing companies are using
        augmented and virtual reality, cloud computing, and 3D technology to
        offer customers with seamless home interiors and renovation experience.
        Also, catching on the trend, startups like Livspace, HomeLane, Bonito
        Designs, Infurnia, and Spacejoy are eyeing significant growth in the
        segment by leveraging the funds to increase their user base.

Asia-Pacific to Register the Highest Growth

    --  Asia-Pacific segment is expected to have the highest growth rate over
        the forecast period. Building infrastructure plans in the countries,
        such as China and India, are anticipated to be a significant contributor
        to the growth of the Asia-Pacific segment.
    --  According to the market Study, India is expected to rank third in terms
        of volumes of constructions by 2030 with a target of 11 million
        buildings to be constructed, therefore highlighting bright prospects for
        the market studied.
    --  Growing urbanization and population growth in major cities in the
        Asia-Pacific, such as Beijing, China; Tokyo, Japan; and Mumbai, India
        has led to an augmented increase of residential apartments. For
        instance, according to the World Bank, the urbanization rate in China
        increased to 60.60% in 2019 from 57.90% in 2017.
    --  Start-ups are disrupting the interior design ecosystem in the region.
        For instance, Livspace has grown to become one of India's largest home
        interiors and renovation platform. The company has designed over 5,000
        homes, a whopping 2 million square feet, and works with over 2,000
        design partners. The company partnered with Brand Capital, the strategic
        investment arm of The Times Group, and was able to create a strong brand
        presence.

Competitive Landscape

The Interior Design Software market is moderately competitive. The regional vendors are focusing on providing cost-effective solutions with limited operational capabilities and at comparatively lower prices than the international players. Major players in the market include Autodesk Inc., Dassault Systemes SE, Trimble Inc., among others.

    --  April 2020 - Autodesk released 3Ds Max 2021 version. The latest version
        from the company focuses on rendering and textures by leveraging the
        improvements in performance. The version also added support for python
        3, scriptable baking, and more focus on CAD-related workflows and
        interoperability with Autodesk's CAD tools, such as AutoCAD and Revit.
    --  March 2020 - Trimble Inc. announced that its subsidiary Sketchup's app
        called SketchUp Viewer for VR now added support to all the major VR
        headsets including the latest editions of Oculus Quest and SteamVR. All
        the users need is a cable to setup leveraging which users would be to
        view of their SketchUp models in VR.

Key Topics Covered

1 INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET DYNAMICS
4.1 Market Overview
4.2 Industry Attractiveness - Porter's Five Forces Analysis
4.2.1 Bargaining Power of Suppliers
4.2.2 Bargaining Power of Consumers
4.2.3 Threat of New Entrants
4.2.4 Intensity of Competitive Rivalry
4.2.5 Threat of Substitutes
4.3 Market Drivers
4.3.1 Want for better interior design and decoration
4.3.2 Rise in Government Initiatives for Promoting Construction and Real-estate Worldwide
4.4 Market Challenges
4.4.1 Interoperability Issues with Interior Design Software
4.5 Assessment of Impact of COVID-19 on the Industry

5 MARKET SEGMENTATION
5.1 End-user
5.1.1 Residential Sector
5.1.2 Non-residential Sector
5.2 Geography
5.2.1 North America
5.2.2 Europe
5.2.3 Asia-Pacific
5.2.4 Latin America
5.2.5 Middle East and Africa

6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Autodesk Inc.
6.1.2 Dassault Systemes SE
6.1.3 Trimble Inc.
6.1.4 SmartDraw LLC
6.1.5 Foyr LLC
6.1.6 Roomtodo OU
6.1.7 ECDESIGN Sweden AB
6.1.8 RoomSketcher AS
6.1.9 Space Designer 3D
6.1.10 BeLight Software Ltd.
6.1.11 Chief Architect Inc.
6.1.12 Infurnia Technologies Pvt. Ltd.
6.1.13 EasternGraphics GmbH
6.1.14 InnoPlanner Ltd.

7 INVESTMENT ANALYSIS

8 MARKET OPPORTUNITIES AND FUTURE TRENDS

For more information about this report visit https://www.researchandmarkets.com/r/7p561m

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