World Interior Design Services to Reach $255 Billion by 2027

March 24, 2021  by Laurie Northington in Business Strategy, Designer Weekly, Industry   

Residential, one of the segments analyzed in the report, is projected to record a 8.1% CAGR and reach $157.1 billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Commercial segment is readjusted to a revised 7.5% CAGR for the next 7-year period.

The Interior Design Services market in the U. S. is estimated at $40.7 billion in the year 2020. China, the world's second largest economy, is forecast to reach a projected market size of $57.6 billion by the year 2027 trailing a CAGR of 11.9% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 4.2% and 7% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 5.1% CAGR.

In the global Other Types segment, U.S., Canada, Japan, China and Europe will drive the 6.8% CAGR estimated for this segment. These regional markets accounting for a combined market size of $11.3 billion in the year 2020 will reach a projected size of $17.8 billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach $35.3 billion by the year 2027, while Latin America will expand at a 8.4% CAGR through the analysis period.

The report presents concise insights into how the pandemic has impacted production and the buy side for 2020 and 2021. A short-term phased recovery by key geography is also addressed.

For the full report, click here.