The interior design industry is a multibillion-dollar industry that is constantly evolving. Here we will take a look at some statistics, market size, and trends in the interior design industry, as well as the future outlook.
Interior Design Industry Overview
The interior design industry comprises businesses engaged in the planning, designing, and execution of residential and commercial interior spaces. The interior design industry is a subset of the construction industry.
Interior design is a relatively new profession that has only been around for about 100 years. It was not until the early 20th century that interior design became a recognized profession. Prior to that, interior design was mostly done by architects or other construction professionals.
Interior design is a highly creative and technical field. Interior designers must be able to understand the functional needs of a space and translate that into a visually appealing and functional design.
Interior designers must also be aware of building codes and regulations, as well as health and safety concerns. In some cases, interior designers may also be responsible for project management and coordination with other construction professionals.
Residential vs. Commercial
The interior design industry is divided into two main categories: residential interior design and commercial interior design. Residential interior design includes the design of private homes, apartments, condos, and other residences. Commercial interior design includes the design of office spaces, retail stores, restaurants, hotels, and other public spaces.
Competition
Interior design is a highly competitive industry. interior designers must be able to differentiate themselves from their competitors in order to succeed. There are many ways to do this, including specializing in a certain style or type of interior design, or offering unique services such as green interior design or sustainable interior design.
Factors for Success
In order to be successful, interior designers must also be good at marketing and business. They need to be able to sell their services to potential clients and build long-lasting relationships with them.
Interior Design Industry Market Size
The interior design industry is a multibillion-dollar industry. In the United States, the interior design industry was estimated to be worth $10 billion in 2018. This includes both residential and commercial interior design.
The interior design industry is expected to grow in the coming years. In the United States, the interior design industry is projected to remain stable from 2020 to 2030. This is largely due to the popularity of home renovation and improvement projects, as well as the growing demand for sustainability and green design.
In terms of employment, the interior design industry is expected to add about 26,000 new jobs from 2018 to 2028. This growth is slightly below the average for all occupations.
Interior Design Industry Interesting Statistics
- There are approximately 77,000 interior designers in the United States.
- About 60% of interior designers are self-employed.
- According to the U.S. Bureau of Labor Statistics interior designers in the United States earned a median salary of $60,340 per year.
- The interior design industry is expected to add about 26,000 new jobs from 2018 to 2028.
- In the United States, the interior design industry was estimated to be worth $10 billion in 2018.
Interior Design Industry Trends
One of the biggest trends in the interior design industry is sustainability. Sustainability is becoming increasingly important to consumers, and interior designers are responding by incorporating sustainable materials and practices into their designs.
Another trend in the interior design industry is technology. Interior designers are using technology to create virtual reality experiences that allow clients to see what their space will look like before it is even built.
Interior designers are also using technology to create custom furniture and to print 3D objects. This allows interior designers to create one-of-a-kind pieces for their clients.
Interior Design Industry Future Outlook
The interior design industry is projected to remain stable or grow slightly through 2028. This is largely due to the popularity of home renovation and improvement projects, as well as the growing demand for sustainability and green design.
In terms of employment, the interior design industry is expected to add about 26,000 new jobs from 2018 to 2028. This growth is slightly below the average for all occupations.
Conclusion
The interior design industry is a highly competitive industry with a positive outlook for the future. In order to be successful, interior designers must be able to differentiate themselves from their competitors and offer unique services. They also need to be good at marketing and business in order to sell their services to potential clients. Nonetheless, plenty of opportunities exist.