At what pace is the arts market growing, and what is its estimated value?
The arts market size has grown strongly in recent years. It will grow from $532.09 billion in 2024 to $566.85 billion in 2025 at a compound annual growth rate (CAGR) of 6.5%. The growth in the historic period can be attributed to strong emerging markets growth, growth in world population, government initiatives, growth of the experience economy, rising tourism, increase in concerts, increased internet penetration, and increased availability of mobile devices.
The arts market size is expected to see strong growth in the next few years. It will grow to $716.85 billion in 2029 at a compound annual growth rate (CAGR) of 6.0%. The growth in the forecast period can be attributed to the emergence of independent artists, an increase in arts e-commerce purchases, economic growth, increase in internet penetration, and an increase in the use of social media. Major trends in the forecast period include adopting augmented reality to introduce a better experience and entertain the audience, adopting virtual reality to offer a more immersive experience for customers, adapting to new music platforms to gain more opportunities, offering digital streaming of content, adopting to mobile ticketing, offering ambient scenting in live performances, investing in IoT solutions to increase efficiency and introducing blockchain-based platforms.
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What are the top drivers to the rising demand in the arts market?
Art organizers are using augmented reality (AR) technology to create real-world experiences for customers. Augmented reality is the integration of digital information with the user’s environment in real-time. Museums and zoos are now using augmented reality as a tool to educate and entertain the audience by creating a visual tour guide and displaying 3D content in a real-world camera view. For instance, the Cleveland Museum of Art is using augmented reality technology to let users interact and access the most current and comprehensive information about every piece of artwork in the museum. In the Acropolis Museum in Athens, Greece, the team used AR technology to bring a collection of architectural and sculptural remains to life.
How is the arts market segmented?
The arts market covered in this report is segmented –
1) By Type: Museums, Historical Sites, Zoos, And Nature Parks, Independent Artists And Performing Art Companies, Sports And Arts Promoters
2) By Revenue: Media Rights, Merchandising, Tickets, Sponsorship
3) By End User: Individuals, Companies, Other End Users
Subsegments:
1) By Museums: Art Museums, Science Museums, History Museums, Children’s Museums, Specialty Museums
2) By Historical Sites: Heritage Sites, Cultural Landmarks, Archaeological Sites, National Monuments
3) By Zoos: Traditional Zoos, Safari Parks, Aquariums, Wildlife Sanctuaries
4) By Nature Parks: National Parks, Nature Reserves, Botanical Gardens: Wildlife Refuges
5) By Independent Artists And Performing Art Companies: Visual Artists (Painters, Sculptors), Performing Artists (Actors, Musicians, Dancers), Theatre Companies, Art Collectives
6) By Sports And Arts Promoters: Sports Event Organizers, Art Event Organizers, Arts And Culture Foundations, Sponsorship And Promotion Agencies
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Who are the top competitors in the arts market?
Major companies operating in the arts market include Artsy Inc., Saatchi Art, Artspace, Artnet Worldwide Corporation, Sotheby’s, Christie’s International PLC, Singulart, UGallery, Zatista, 1stdibs.com, Inc., Rise Art, Tappan Collective, Minted LLC, ArtFinder, ArtPal, Artsper, Vango Art, Artplode, Contemporary Art Platform, Lumas Gallery, Affordable Art Fair Ltd., Art Basel, Redbubble Ltd., Bluecanvas, Society6 LLC, Behance (Adobe Inc.), Cargo Collective, DeviantArt, Inc., Art.com Inc., Visual Art Network
What significant trends should we anticipate in the arts market over the forecast period?
Independent formats are offering new platforms for new talent to promote their music. Since music recording companies are often averse to taking risks with new talent, artists are making use of social media and music streaming platforms and are taking charge of their marketing and distribution. Social media platforms have created a new means of connectivity and marketing opportunities for artists. For instance, iTunes, Spotify, Pandora, and YouTube are some platforms widely used by music artists to promote their work.
Which regional trends are influencing the arts market, and which area dominates the industry?
The countries covered in the arts market report are Australia, China, India, Indonesia, Japan, South Korea, Bangladesh, Thailand, Vietnam, Malaysia, Singapore, Philippines, Hong Kong, New Zealand, USA, Canada, Mexico, Brazil, Chile, Argentina, Colombia, Peru, France, Germany, UK, Austria, Belgium, Denmark, Finland, Ireland, Italy, Netherlands, Norway, Portugal, Spain, Sweden, Switzerland, Russia, Czech Republic, Poland, Romania, Ukraine, Saudi Arabia, Israel, Iran, Turkey, UAE, Egypt, Nigeria, South Africa
What Does The Arts Market Report 2025 Offer?
The arts market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
Art is the intentional arrangement of objects in ways that influence and alter the senses, emotions, and intellect. Art helps to process emotions and understand their surroundings. It allows us to see life from a different perspective and it makes us feel alive.
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