Today, a home is much more than a unit where one resides. It is a reflection of our personality, a place where we spend time with loved ones, a multi-purpose space that houses all interests, passions, recreational and functional needs. It is a meaningful, intimate space that individuals are increasingly investing behind.
The significance of living spaces is growing, and home décor and designs are playing a major role in this evolution. The surging demand for functional and aesthetically pleasing homes has led to a significant increase in the demand for interior décor services. This growing trend has also attracted the attention of larger companies, which are now entering the home décor space. Recent data from the IMARC Group reveals that in 2022, the India home furnishings market had reached a substantial size of Rs 48,625 Crore. Furthermore, the market is projected to expand to Rs 78,536 Crore by 2028, indicating a noteworthy compound annual growth rate (CAGR) of 8.23 percent expected during the period from 2023 to 2028.This implies that residents are going to prefer innovative and smart solutions for creating a living space that feels homely and functional.
With this rising trend, let’s look at how home improvement companies are elevating the homes of customers.
- Smart Living Solutions
With advancing technology, smart homes have evolved from futuristic concepts into accessible and affordable realities. As per research, the home decor market is registering a CAGR of 6.2 percent between 2023 and 2033. Sneha Varghese, Senior Consumer Goods and Products Consultant at Future Market Insights (FMI) says that the adoption of DIY culture and smart home integration solutions is at its peak for renovating houses with environmental awareness. Home décor companies are seamlessly offering innovative and aesthetic designs to create intelligent and captivating spaces. It's more than just adding smart devices; it's about integrating technology into the very core of a home's interior to craft harmonious and highly functional living environments. For instance, companies are offering solutions like automated lighting, smart thermostats, and voice-activated controls, allowing residents to control their environment with ease.
- Innovative and Customized Living Spaces
Addressing the diverse demands of customers, companies are customizing versatile interiors while also considering environmental sustainability. With the increasing trend of smart home interior design, brands are providing customizable solutions specializing in a range of home solutions including windows, wardrobe shutters, ceilings and more, including free consultation services, catering to the diverse lifestyles and preferences of individuals in urban, tier two, and tier three cities. Another way of tailoring your living space is customizing textiles, widely cushions, curtains, bedding bringing an aesthetic appeal to your home. This approach ensures that homeowners can have spaces that reflect their unique personalities and meet their practical needs while also aligning with their eco-friendly aspirations.
- Eco-elegance in Interiors
Sustainability has become a defining aspect of modern home decor, where style and environmental responsibility go hand in hand. The use of environmentally friendly materials such as cork, bamboo, and recycled materials has transformed interior design. Glass is increasingly favored in the realm of environmentally friendly home decor due to its unique combination of elegance and sustainability. This versatile material offers several benefits that make it a wise choice for those who wish to enhance the aesthetics of their living spaces while minimizing their environmental footprint. Glass is 100 percent recyclable. It seamlessly blends the interiors and exteriors with its inherent trait of transparency awarding scenic views of the outdoors. The industry is making moves in making homes that are tailored to modern demands and leaving a positive environmental legacy, from energy-efficient designs to recycled materials. The entry of large companies into home décor services mirrors shifting consumer preferences. This
change underscores the importance of innovation, sustainability, and smart living in modern homes. Homeowners are increasingly looking for innovative, eco-friendly, and tech-savvy solutions that blend personal style with practicality.