The interior industry is a very exciting industry to be in. It’s a highly fragmented sector that has seen the emergence of some big brands like Livspace, Homelane, and Simply Interiors over the last few years. But, it still remains a largely fragmented space where even a unicorn like Livspace commands only a small fraction of the market share. We also get impacted by everything that impacts the real estate industry in particular.
Within this realm, the interior industry in the country is going through some dramatic and innovative changes.
There have been significant technological breakthroughs. These are visible in the use of 3D printing being used for customized products. Smart home technology is becoming more and more widespread to the extent that builders are even giving it for free. Other technologies like IoT and virtual reality are still in their infancy but are adding a lot of value to projects. Some other technological advancements which need to be monitored are in the fields of Web3, Metaverse, and AI which could be game changers in this industry.
The usage of sustainable materials has seen a slow uptrend. Reclaimed wood products like particle boards have shown increased usage, especially for low-cost projects. India itself has always been a big producer of timber but plywood prices have been increasing steadily. This is a prime driver in the growth of the particle board industry. In addition, bamboo and cork are also becoming more common. On the same lines, natural material as well as natural light are coming back into trend and resulting in some beautiful, well-ventilated interiors.
Modular furniture including complete kitchens and wardrobes has been gaining a lot of fans in metro cities like Bangalore and Hyderabad. This trend is now reaching out to smaller towns as well because of increased internet usage. Family members in bigger cities also influence the kind of interiors being done. The one cause of concern is that this leaves the people, an easy target for inexperienced designers and contractors to fleece.
Designs are slowly becoming more “international”. 10 years back, all that people discussed were contemporary or modern designs alongside traditional styles. Nowadays, there is a demand for broader, more specific design styles like Scandinavian, Japanese, Bohemian, and their combinations like Japandi, etc. This is resulting in a lot more exciting and unique designs being created with a focus on very specific customer requirements and choices. This is not just a pleasant challenge for designers but it's also driving growth in acceptance of new products like acrylics, polyesters etc.
The Indian interior design industry is a vibrant and exciting industry that is constantly evolving. The innovations and concepts discussed above are just a few of the many trends that are shaping the industry. As the industry continues to grow, we can expect to see even more innovative and creative ideas emerge.