DUBLIN, May 27, 2022 /PRNewswire/ — The report “Interior Design Software Market Forecast to 2028 – Impact of COVID-19 and Global Analysis by Application and End User” has been added to from ResearchAndMarkets.com offer.
The Interior Design Software Market is Expected 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 layouts early in the design process. The software allows architects to detect, monitor and access any discrepancies between the suggested design and the actual structure.
It also helps architects take preventive measures and reduce the need for renovation and reconstruction. The interior design software offers a comprehensive list of furniture including windows, doors, beds, and tables in various styles to help the designer create an accurate model of the area. The software helps interior businesses increase productivity by reducing their reliance on paperwork and documentation of building interior designs. It also helps companies speed up the design process and reduce 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 view designs in 3D format to provide clients with better knowledge of interior designs.
The growth of the global interior design software market is mainly driven by the growing demand for interior design and decoration in the residential, commercial and construction sectors.
With the new advances in Artificial Intelligence and Augmented Reality/Virtual Reality, business leaders are investing heavily in developing online applications that are easy to use, provide the best user experience and provide innovative user interaction. Increase in productivity due to reduced reliance on paperwork and documentation is another factor driving the demand for interior design software market growth.
Impact of the COVID-19 Pandemic on the Interior Design Software Market
According to the latest situation report from the World Health Organization (WHO), the United States, India, Brazil, RussiaGreat Britain, France, Italy, Germany, Argentinaand South Africa are among the countries hardest hit by the COVID-19 pandemic. The pandemic has had negative effects on industries and the global economy.
Factory shutdowns, travel restrictions, trade bans, and border closures have hurt the interior design software industry. The interior design software market initially had a severe impact; however, the market is reviving and expected to grow post-pandemic.
Additionally, the commercial building sector is the most affected sector as the COVID-19 pandemic has forced many commercial businesses to delay office reopenings and further expansions. People are now renovating their homes by hiring interior companies and architects to design the interiors of their choice.
North America is one of the most critical regions for the adoption and development of new technologies due to favorable government policies that stimulate innovation, the presence of a strong industrial base and high purchasing power, especially in developed countries, such as the United States and Canada. Therefore, any impact on the growth of industries is expected to negatively affect the region’s economic growth.
In 2020, the COVID-19 outbreak negatively impacted the interior design software market in North America as several commercial companies ceased operations, postponed the expansion of their offices and several companies had offered the possibility of working from home. The weak growth is mainly due to the economic slowdown in the countries due to the COVID-19 pandemic and its measures.
Many companies are not investing in interior design due to business and office closures, shutdowns and restrictions, and are therefore providing work-from-home options for their employees. In 2020, the interior design software market in the commercial sector was more disrupted than the residential sector.
Main results of the study:
Based on the end user, the interior design software market is segmented into personal 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 divided into residential and non-residential sector.
In 2020, the non-residential segment dominated the interior design software market. A residential area or sector includes land in which habitation predominates. The residential area includes residential apartments, townhouses, houses, apartments, among others.
The residential sector is expected to grow due to factors such as booming construction industry and increasing population across the world. And the non-residential sector is a separate sector from the residential sector. Non-residential sectors include things like banks, offices, warehouses, restaurants, theaters, hospitals, schools, among others.
Geographically, in 2020, North America market leader in interior design software.
Key market dynamics
- Rapid urbanization and high demand for custom interiors
- Increase in demand for interior design, decorations as well as freelancers and contractors
- Availability of free software
- Growing adoption of smartphones and tablets to propel demand for cloud-based software
- Integration of advanced technologies
- Autodesk Inc.
- Chief Architect, Inc.
- Dassault Systems SE
- Ecdesign Sweden AB
- Ace parts sketch
- Smartdraw, LLC
- 5D Planner
For more information about this report visit https://www.researchandmarkets.com/r/gisjpw
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SOURCE Research and Markets