Luxury interior design involves an artistic and scientific design service, including several architects who provide houses with a luxurious look and feel. The rising focus on infrastructure development and improving living standards may enhance the adoption of luxury interior design services. Furthermore, the robust demand for luxury interior designs from the commercial sector may enhance the service’s adoption. Moreover, technological innovations, product improvements, entry of new players, and effective distribution of funds may enhance the adoption of the service. Additionally, the market players announce novel solutions to expand services for a wider audience. For example, Inter IKEA Systems B.V. announced its novel IVAR storage scheme product lineup comprising space-saving shelving in 2019. These factors may propel industry growth.
Business Research Insights estimates that the global luxury interior design market size will reach USD 92,670 million by 2027 at a CAGR of 9.0% during the 2022-2027 period.
Post COVID-19 Outlook: Resumption of Activities May Allow this Industry to Recover
The resumption of activities post COVID-19 has allowed the industry to grow. The resumption of construction, in-office working, and manufacturing allowed for the development of this industry. Further, an unexpected rush in demand for homewares may enhance luxury interior design adoption. Moreover, companies develop solutions and technologies to overcome time limitations and supply chain issues. These factors have aided the industry growth.
Business Research Insights highlights the top 10 players operating in the industry.
1. Gensler (U.S.)
Gensler is an American firm that was founded in 1965. It is an integrated planning, consulting, and designing firm with more than 5,500 professionals spread across 50 offices worldwide.
2. Gold Mantis (China)
Gold Mantis is a Chinese firm that was founded in 1993. The company is a designer of housing solutions, hotels, public buildings, and guesthouses and offers extremely luxurious and premium design solutions.
3. HOK (U.S.)
HOK is headquartered in the U.S. and was founded in 1955. It is the largest U.S.-based architecture organization that offers services to the healthcare, corporate, aviation, and transportation industries.
4. Perkins and Will (U.S.)
Perkins and Will is an American firm that was founded in 1935. The company offers its services for commercial spaces such as libraries, colleges, halls, and high schools. Perkins and Will offers landscape architecture, branded environments, and corporate & commercial solutions.
5. Jacobs Engineering Group (U.S.)
Jacobs Engineering Group is headquartered in the U.S. and was founded in 1947. The company offers technical, professional, engineering, and construction services. It deploys scientific planning for the construction of premium and comfortable housing.
6. Stantec (Canada)
Stantec is headquartered in Canada and was founded in 1954. The firm focuses on the development of effective architectural designs for schools. It offers best-in-class designs tailored according to clients’ requirements.
7. IA Interior Architects (U.S.)
IA Interior Architects is an American architectural firm that was founded in 1984. It offers a wide range of architectural solutions and effective solutions that enable clients to overcome their problems.
8. CallisonRTKL (U.S.)
CallisonRTKL is an American firm that was founded in 1946. The company has developed the world’s most successful environments for investors, retailers, developers, institutions, and public entities.
9. Leo A Daly (U.S.)
Leo A Daly is an American company headquartered in the U.S. and was founded in 1915. The company offers interior designs for several commercial projects such as offices and personalized residential solutions.
10. HSK (China)
HSK is a Chinese company that was founded in 1984. The company offers clients excellent interior designs for commercial buildings such as office spaces and residential solutions. The company has a good reputation for its designs.
Increasing Demand for Luxurious and Comfortable Architectural Solutions will Propel the Industry
The robust demand for luxurious and comfortable architectural solutions may enhance the demand for luxury interior designs globally. Rising consumer spending on residential and business spaces may enhance the industry’s progress. The emergence of several architectural firms and rising focus on infrastructure development may allow for strong growth. These factors indicate positive growth aspects for the industry.