The Business Research Company’s Art Crowdfunding Global Market Report 2023 is the most detailed report available on the market, including broad forecast periods and multiple geographies. The report covers the historic period – 2010-2021, and the forecast period – 2023-2032. The Art Crowdfunding Global Market Report 2023 evaluates art crowdfunding market size, growth rate, drivers, trends, and major companies.
The report provides a global perspective by covering 60 geographies and focusing on major economies in each region – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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The global art crowdfunding market is expected to grow from $1.151 billion in 2022 to $1.70 billion in 2023 at a compound annual growth rate (CAGR) of 12.4%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The art crowdfunding market is expected to reach $2.67 billion in 2027 at a CAGR of 12%.
The expansion of online art marketplaces is expected to propel the growth of the art crowdfunding market going forward. An online art marketplace is a digital platform where artists may sell their works of art directly to purchasers. It connects artists with a global audience of art fans while offering a convenient and accessible setting for art transactions. A digital platform for artists to present their ideas, engage with a worldwide community of art fans, and raise money from various supporters is made possible by the growth of online art marketplaces, which broaden the options for funding artistic endeavors. For instance, in April 2023, according to an online art trade report by Hiscox Ltd., a UK-based specialist insurance company, online art sales amounted to $10.8 billion in 2022, 6% up from $10.2 billion in 2021. Further, the online art market in 2022 accounts for 15.9% of all art sales. Therefore, the expansion of online art marketplaces is driving the growth of the art crowdfunding market.
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The art crowdfunding market segments in the report are:
1) By Type: 5% Fee, 4% Fee, 3% Fee, Other Types
2) By Art Type: Visual Art, Performing Art, Literary Art, Other Art Types
3) By Platform: Reward-Based Crowdfunding, Donation-Based Crowdfunding, Equity Crowdfunding
4) By Application: Films, Music, Stage Shows, Comics, Journalism, Publishing, Museums, Galleries, Other Applications
The table of contents in TBRC’s art crowdfunding market report includes:
- Executive Summary
- Art Crowdfunding Market Characteristics
- Art Crowdfunding Market Trends And Strategies
- Art Crowdfunding Market – Macro Economic Scenario
5.1. Global Art Crowdfunding Historic Market Size and Growth, 2017 – 2022, Value ($ Billion)
- Art Crowdfunding Market Segmentation
- Art Crowdfunding Market Regional And Country Analysis
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- Brazil Art Crowdfunding Market
- Middle East Art Crowdfunding Market
- Africa Art Crowdfunding Market
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