The world as we know it keeps changing and evolving as technological innovation continues to make life easier and more efficient for professionals, business owners, and industries as a whole.
The interior design industry has grown a lot in its attempts to provide improved and sophisticated experiences for clients and an easier way to work for interior designers. It is no longer stuck on the limitations that manually done drawings and paper designs bring.
It has embraced the digital age and now leverages the power of efficient interior design software to get the job done.
For investors, business owners, and interior designers who are still dragging their feet and contemplating whether to join the bandwagon of users getting ahead of the game, here is a breakdown of the growth of interior design software on the market to help you decide.
Let’s begin with a definition.
What really is interior design software?
Interior design software is a program, mobile, or web application that interior designers use to expedite the process of designing, rendering, and presenting an interior design to clients or investors.
It helps to get the job done twice as fast as manual drawings, employs fewer resources, and provides you with the assets you need to create a near-realistic depiction of the design of a space.
To do this, the software uses features like 3D images, 2D planning, floor plan creation, presentation tools, modeling, and rendering, etc. Designing becomes time-saving and incredibly easier with all these tools on hand and simple to use with drag and drop editing abilities.
Market growth trajectory of Interior design software over the years
“The interior design software market was valued at USD 3,829 million in 2020, and it is expected to reach USD 6,433.9 million by 2026, registering a CAGR of 9.07% during the forecast period (2021 – 2026),” says Business Wire.
The interior design software market owes its steady growth to the increasing demand for interior design in diverse sectors, including residential, commercial, construction, among others.
The interior design market has changed so much over time because individuals’ needs are also changing. Interior design trends of the 90s or even the past decade no longer serve the present-day entity.
As such, interior design companies have to evolve to meet the current demands. But, what exactly is in demand today? The pandemic has forced people to find newer ways of staying safe, yet, meeting the need to be in certain locations— virtual/augmented reality.
This allows people to visit a virtual location and interact with it as though it were real, giving you the same experience as if you were truly there.
Homeowners and other stakeholders in the non-residential sector are looking for software that provides a seamless renovation or designing experience that they can access or follow the process from anywhere around the world.
Thus, many interior design software programs introduce virtual reality features in their products, drawing investors and business people from far and wide to put their money in new, groundbreaking software that people are demanding.
Again, the demand for interior design software continues to rise due to the efficiency and cost-reducing benefits it offers designers as companies are seeking to lower overall costs.
It reduces companies’ dependence on paper-based documentation because many interior design software programs offer cloud computing and storage so designs get saved as you work. This also makes the design easily shareable from the comfort of your computer.
Key interior design software market trends for 2021 – 2028
There are certain projections that researchers expect of the interior design software market between the above forecasted period. They are as follows:
- The Residential Sector is estimated to witness the highest CAGR for the forecast period, owing to the increasing demand for interior-designed homes in developing economies.
- The Asia-Pacific region (among North America, Europe, Asia Pacific, and the Rest of the world) is estimated to gain the highest CAGR between 2021 – 2028.
This growth is attributed to the rise of building infrastructure plans in the countries in these regions and urbanization and population growth.
- India is expected to rank third in the amount of construction to be done by 2030 (over 11 million buildings). This projects the country as an excellent prospect for the interior design software market.
- Key players in the interior design software market include Autodesk Inc., SmartDraw LLC, Foyr LLC, Dassault Systemes SE, Trimble Inc, among others.
- The introduction of 5G and an increase in the abilities of computer devices, virtual reality applications within interior design software will continue to grow. This foretells improved and realistic graphics and even faster rendering.
Top Interior design software tools on the market
The trajectory of Interior design software over the next few years indicates that these software programs are not leaving the market anytime soon. We have highlighted three software from key players in the market. They include:
1. Autodesk
Autodesk is a leader in 3D design software. The program comes with some of the most sought-after 2D and 3D modeling tools that significantly improve your design. It is a pro-software that requires the expertise of interior designers who can handle its features.
2. Foyr Neo
This lightning-fast interior design software helps you perform various designs in minutes. It enables you to draw floor plans, work quickly with easy-to-use editors, edit 2D and 3D designs in real-time and get a photorealistic 4K render in minutes.
3. SmartDraw
This is a powerful interior design tool with templates and close to 100 types of diagrams, flowcharts, and more to help you kickstart your project quickly. It is highly integrable with other tools and shares and saves files quickly.
Conclusion
The market for interior design software has consistently grown over the years owing to many factors, including its many benefits and the high demand for top-notch tech. This overview explains the reasons for the growth and the projections for the market between 2021 and 2028.
If you’re yet to decide whether this market is for you, this growth overview can help sway your decision.
