Interior decor industry, inspite making a commendable growth in the global market, has still saturated to a great extent. So, in order to achieve additional market share, it is trying its level best to get back into the form by trying and executing new areas of application.
As per the market statistics, the U.S. interior design industry is making a significant success in the global market. It includes about has 11,000 businesses which together produces a combined annual revenue of $7 billion which is worth acknowledging. Business firms like Gensler, Hellmuth, Obata and Kassabaum, Perkins and Will to name a few as major units of this vast industry, it is highly fragmented. While the 50 largest firms account for only 10% of the total revenue. Generally, the companies which are small in size with less number of employees contribute to about $620,000.
They pay ample amount of attention on the overall construction and renovation of commercial, industrial, residential and institutional buildings. They employ the innovative and designing skills to acquire the best infrastructural design, thus, helping in overcoming market saturation tendencies. It is the design quality which helps in differentiating one competing unit from another in the global market. Since, there is a presence of uneasy market conditions that it has limited a huge number of sellers to experiment with new product lines rather sticking to the proven ones which they can then diversify.
In case of the Chinese interior decorating industry, then it is definitely making a phenomenal success. As per financial experts, it's growing demand for interior decoration is expected to lend vitality to housing decoration, building materials as well furniture-making enterprises. The China Social Survey Institute report shows that about one-fifth of residential housing in large and medium-sized Chinese cities have been remodeled. While the China National Interior Decoration Association predicts that there will be a tremendous growth of 300 billion yuan within the industry (approx $36 billions) in the annual income to be seen during the next four years.
Zhang Shili, the newly- appointed chairman of China Institute of Interior Design, however, opines that it is proof enough for the gradual fall in the overall development of the residential activity which will be confined to a small portion of the available home decoration market.
Chinese are more concerned about the overall look of their houses, and therefore, pay maximum attention to the selection of delicately designed furniture pieces which can accent their refined homes. Keeping this mind, world leading furniture firms have introduced modern furniture bringing forth features like simplicity, solidity and brightness on Chinese market which though expensive are worth going for.
