Interior Design Software market size is forecast to grow at a CAGR of 9.4% during the forecast period 2020-2025. The increasing emphasis on décor and environmental factors in the modern construction industry is highlighting the requirement of interior design software. The architects are growing the demand for this software, as it helps in identifying the disparities between the proposed design and the real building; and also assists to take preventive measures and reduces the need for remodeling and rebuilding. Thus, the rise in the adoption of interior design software especially by the architects contributes to the expansion of global interior design software market revenue.
North America holds a major share in the interior design software market owing to the prevalence of virtual home design software. This computer-aided design software is envisioned to aid designers, architects, and homeowners to preview multifarious design implementations beforehand. This software as a service deal with customization, speed, and usability on an important note.
The growing popularity of interior design and decoration coupled with the rise in the use of cloud-based software is likely to aid in the market growth of interior design software.
The increase in the adoption of 3D renderings software for commercial spaces is propelling the demand for the global interior design software market. This is because, it is one the leading software that provides hyper-realistic renderings such as life-like imagery and crystal clear picture of post-construction of color combination, flooring pattern, furniture work, and ceiling structure as well.
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Application – Segment Analysis
The fascination of customers towards interior designing and adding aesthetic value to houses are attributing to the growth of the residential sector. The demand for residential building construction especially in Mumbai, Bangalore, and New Delhi are booming the Indian construction industry. Interior design plays a vital role in providing a picture of initial plans to build luxurious residential buildings. In addition to this, countries such as Japan, Australia, Singapore, and Malaysia are augmenting the demand for interior design software in the APAC region.
Geography – Segment Analysis
North America’s interior design software market share dominated the global interior design software market, accounts for more than 33%, followed by APAC and Europe. In APAC region growth of the virtualization process in developing economies such as China and India are driving the APAC interior design software market growth. APAC is projected to witness the fastest growth in the global interior design software market. It is majorly due to the increase in government initiatives especially in the eminent countries China and India as a part of the real estate business promotions. In addition to this, the heavy investments of construction companies in the residential and non-residential sector are determining the growth of the market in the Middle East & Africa interior design software market.
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Drivers – Interior Design Software Industry Outlook
The increase in the adoption of interior design software by the SMEs
Now-a-days, Small and medium-sized enterprises are focusing to adopt advanced software technologies such as interior design software in order to increase the customer base. This, in turn, helps in branding the company position in the global interior design software market share and also to increase their return on investment and revenues by eliminating the designing and construction errors. Moreover, the government support to enhance the real estate and construction industry is, in turn, rising the necessity for optimal design work is projected to further drive the growth of the market during the forecast period 2020-2025. The rapid pace penetration of smartphones is creating a significant number of opportunities for solution vendors to present advanced mobile application based solutions in the real estate and construction industry.
The growing demand for attractive interior designs and decorations are fuelling the interior design software market
Presently, the shift in the customer preference for eye-catching interior designs and decorations are predominantly uplifting the interior design software market growth. On the other hand, the rise in the infrastructure developments and pipeline of infrastructure projects in developed and developing nations are improving the scope of the interior design software, worldwide. This interior design software is gaining traction of designers, as it helps them in designing process and reduces the time investment for remolding and rebuilding. It is playing a prominent role in designing the ventilation and power source structures in a building, through this software, designers are flexible in making effective decisions regarding proper ventilation system design. The upholstery manufacturing companies are incorporating virtual reality (VR) technology to design specific cabin upholstery in recent times. The collaboration of technology to create a comforting interior environment is gathering huge demand throughout the world.
Challenges – Interior Design Software Industry
The issues associated with the interoperability is acting as the primary challenge of interior design software market
Merger & Acquisitions and Technological innovations are key strategies adopted by players in the interior design software market. In 2018, the market of interior design software has been consolidated by the top five players accounting for 35% of the share. Autodesk, Inc., Dassault Systmes, Decolabs, Home Hardware Store Limited, Planner 5D, Roomsketcher A, Roomtodo, Smartdraw, Llc, Space Designer 3D, and Trimble Inc are the interior design software top 10 companies.
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