Are you curious about the state of home and interior design?
Then check out our latest home and interior design statistics.
In this research piece, we took a closer look at the latest trends and insights from the industry to help you stay up-to-date with the latest developments and trends.
If you are an interior designer, a home decor enthusiast, or just curious about the latest trend in the industry, you will find all the valuable information and statistics on the state of the industry in 2023
The term "design economy" refers to the value produced by people working in design roles across a wide range of businesses.
The way your home is designed affects how you live and how you feel there. A home with good design will appear larger and more pleasant than one with poor design. In the long run, a well-designed home can save you time and money since it works better and is simpler to maintain.
There are a few factors that influence home design. Firstly, a home can be made more pleasant and useful with the aid of proper design. Good home design can also contribute to its value increase when it comes to the time to sell. Finally, energy efficiency can be increased and expenditures can be decreased with good home design.
Making an effort to improve a home's appearance might enhance its visual appeal. However, design may also be advantageous if you ever decide to put your house on the market.
It can help you create a home that you can be proud to live in. There is a ton of inspiration for home design ideas available to you to make your home appear amazing.
The Design Sector Economy Snapshop Statistics
- The design economy is growing at twice the UK average, contributing £97.4bn in GVA to the UK economy
- $1.5bn accounts for Interior Design Activities in the UK Market Size in 2023
- Interior Design Activities in the UK Market Size Growth in 2023 is 3.6%
1% Interior Design Activities in the UK Annualized Market Size Growth 2018–2023
- The design economy is a significant industry in post-Brexit Britain, employing 1.97 million people in 2020
- 77% of all designers work in non-design sectors such as retail, finance, and construction
- The Design Council urges curricular reform and cautions that the industry will be in danger if there aren't a variety of professional paths available
- The design economy contributed £97.4bn in gross value added (GVA) to the UK economy in 2019, new data from the Design Council shows
- With a contribution of £97.4 billion, the sector accounts for 4.9% of the UK's overall GVA. This is an increase of 73% from its GVA in 2010, which is twice the pace of growth of the UK economy during this time
- The value of the goods and services produced by a sector is known as GVA
- The design industry, employed one in twenty UK workers (1.97 million) in 2020
- Design expertise is becoming more valuable across the economy; 77% of designers work in industries unrelated to design, such as retail or banking
- GVA contribution from London is the highest at £27.18 billion, followed by the South East at $19.73 billion
- The fastest rate of growth was seen in Scotland, where the economy grew by five times as fast between 2017 and 2019 (up 33% to £6.79 billion).
The Value of the UK Design Industry Statistics
- Design is linked to profit. For every £1 invested in design, businesses can expect over £4 increase in net operating profit
- It is highly valued by UK businesses, with an estimated £33.5bn spent annually on it
- For every £1 invested in design, businesses can expect a return of over £5 in increased exports
- Industries that employ higher-than-average percentages of designers account for about 35% of UK exports
- Design is becoming more crucial, according to UK businesses. 80% of UK businesses in 2008 said that design would keep them competitive. This percentage increased to 97% for businesses with rapid growth
Businesses in the UK that incorporate design into their daily operations are twice as likely to have created new goods and services. Design is seen as crucial to innovation and market expansion by successful UK firms and iconic brands including Jaguar Land Rover, Virgin, Dyson, and Diageo.
Factors Affecting Home Design
A well-planned home can help us feel more comfortable and at ease, while a poorly designed one can make us feel tense and confined. Additionally, a well-designed home can reduce our energy use which could be beneficial to our health and finances.
Home allows for unparalleled customization, which is accomplished through designs and some of the factors affecting this include:
- Cost: The cost of completing these projects is typically high. This means that in order to complete your chosen project, you must possess the appropriate financial resources. Running out of money is one of the worst things that may happen during home construction and interior design. The unfinished part will not benefit you even if you decide to sell out. It will probably be seen as an inconvenience and lower your selling price.
- Location: Your budget's size is directly influenced by your location. Additionally, it may restrict the style of home you can erect. In areas with planned development, this is especially true. You might not like the local building codes, which are particular to some places.
- Time: The major drawback is the longest completion time. You might be forced to wait longer than you anticipated due to mistakes or corrections. You must be prepared to patiently wait. When building a home, consider the quality of life rather than how quickly you can relocate.
- Design & Layout Plan: You undoubtedly already have plans in mind for your ideal home. You may give your ideas an appropriate structure by consulting experienced home builders. Although dreams can be beneficial, they do not always convert into reality.
Home design gives you a way to express your personality while also enabling you to build a visually appealing home.
When it comes to your home's design, you frequently have a blank slate, so you can make it look radically different from how the previous occupant could have decorated it.
The final factor that makes the design of your home so crucial is that it facilitates your daily activities.
You'll be able to navigate your home with ease if you arrange the layout and design to suit your preferences. You'll also find that things run much more smoothly.