How Emerging technologies Are Driving a Paradigm Shift in the Home Decor Industry?

AR and VR technologies will revolutionise the home decor industry, especially the start-ups.
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With the advent of the Internet of Things (IoT), smart home decor is a reality now, and the magical experience, which transcends beyond living a comfortable life.According to GartnerSymposium and ITxpo, it is estimated that 24 billion digital devices will be connected through IoT by 2020.

The emerging demand for smart homes among buyers and innovations in décor-friendly smart devices has led to the adoption of smart home gadgets in home designing. The promising benefits of smart home tech made it quite popular among interior designers, who are now trying to attract millennials and the ‘tech-savvy’ population. It has led to exciting trends in the smart home designing industry.

As per IDC, AR and VR is all set to witness a profound growth in the coming years by touching the mark of $162 billion in 2020. By 2021, the market is expected to reach $215 billion. These statistics states that there will be rapid growth not just in the realm of technology (AR and VR) but also the industries that incorporate them in their operations. According to latest report of Global Opportunity Analysis and Industry Forecast, the home decor industry, which is expanding at a rapid speed with an expectation to register a CAGR of 4.2 per cent during 2015-2020, will also see huge usage of AR and VR technologies in the future. Particularly, the new-age start-ups in the segment will bring about a revolution.

AR and VR technologies has the potential to let the customers visualise the furniture and other appealing home designing elements with the help of a computer or smart VR glasses. The starts-ups in the home designing segment is already delivering unique and customised home decor solutions to their customers and posing huge competition to the giants in the segment. In India, many new start-ups in the home decor segment have end-to-end interior designing solutions (including 3D walkthroughs) to provideimpeccable customers through online model for new homes.

VR and AR created buzz in 2019, taking a centre stage across multiple sectors. Imagine testing out hundreds of wallpaper designs, furniture pieces or flooring types at the click of a button. It’s no surprise that the interior design industry is welcoming VR as the start of a new, technological future.

While the VR technology is much in demand, it isalso expensive and requires an advanced system to process. However, most of the brands depend on AR, since it is more accessible. Additionally, AR requires much simpler technology than VR, where the user can download an app on the smartphone or tablet, which is extensively used by designers and stylists today.

With the consumers being environmental wary, the interest in sustainable design is increasing. Sustainable design has become a buzzwordindustries. This trend is set to grow as we consider the future of interior design. This is essentially due the ability to help consumers visualize elements of design that is close to real space. VR and AR have a lot of potential to disrupt home design. The home design can also save us all the hassle of long distance collaboration on decorating. This involves phone calls, picture messages etc.

As a result, there is no doubt that AR and VR technologies will revolutionise the home decor industry, especially the start-ups. With the new technological trends, the start-ups will leave no stone unturned in gaining the heights of success and providing innovative, customer-friendly home decor solutions to drive excellence in customer service.

The article has been penned down by Balaji Chandran, Chief Product Officer, HomeLane 

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