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Global Art Market Size, Share, Report, Analysis, Forecast: By Type: Museums, Historical Sites, Zoos, and Parks, Independent Artists and Performing Art Companies, Sports and Arts Promoters; By Revenue Source: Media Rights, Merchandising, Tickets, Sponsorship; By End Use; Regional Analysis; Competitive Landscape; 2024-2032
Global Art Market Outlook
The global art market size reached approximately USD 73.43 billion in 2023. The market is projected to grow at a CAGR of 3.1% between 2024 and 2032, reaching a value of around USD 97.22 billion by 2032.
Key Trends in the Market
Art is an expression of human creativity and imagination that encompasses a wide range of mediums, techniques, and forms. It involves the creation of visual, auditory, or performance-based works that communicate ideas, emotions, or perspectives. Art serves as a means of conveying cultural, social, and personal messages, often reflecting the artist's interpretation of the world or evoking varied interpretations from audiences.
- Economic conditions significantly impact the art market growth. Over the years, a steady increase in global wealth, particularly in emerging economies, has bolstered art investment. High-net-worth individuals and institutional investors view art as an asset class diversifier, seeking tangible, culturally significant assets that may retain or appreciate in value.
- There is a growing emphasis on diversity, inclusivity, and sustainability, which further influences the global art market value. Collectors, artists, and institutions are championing diverse voices, supporting underrepresented artists, and promoting sustainable art practices. Initiatives addressing environmental impact, ethical sourcing, and social responsibility are gaining prominence.
- Technology has transformed how art is created, marketed, and consumed. Digital mediums have birthed new art forms, while blockchain technology has revolutionised provenance and authentication, enhancing transparency and trust within the market. Augmented reality (AR) and virtual reality (VR) experiences are redefining how audiences engage with art, transcending physical limitations.
- Online platforms have had a significant impact on the global art market demand, making a global marketplace accessible 24/7. E-commerce platforms and dedicated art marketplaces have simplified transactions, allowing both seasoned collectors and newcomers to explore, purchase, and sell art online. These platforms leverage algorithms and AI to personalise recommendations, enhancing user experiences.
Global Art Market Segmentation
Based on type, the market can be segmented into museums, historical sites, zoos, and parks; independent artists and performing art companies; and sports and arts promoters. The market categorisation, based on revenue source, includes media rights, merchandising, tickets, and sponsorship.
The market division, based on end use, includes individuals, and companies, among others. The major regional markets for art are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global art market, covering their competitive landscape and latest developments like mergers, acquisitions, investments, and expansion plans.
- CJ Corporation
- Live Nation Entertainment Inc.
- AMC Entertainment Holdings, Inc.
- Smithsonian Institution
- Cinemark Holdings, Inc.
- Park West Galleries, Inc.
- The State Hermitage Museum
- Christie’s International Plc
- The Metropolitan Opera Association, Inc.
- Art.sy, Inc.
- artnet AG
- The Walt Disney Company
- Others
Market Analysis
Independent artists are rapidly growing in numbers, supported by the development of the e-commerce sector and growing social media influence
According to the global art market analysis, independent artists are experiencing significant demand and their popularity has been significantly impacted due to increasing social media and e-commerce penetration within the global market. By leveraging e-commerce platforms, independent artists can sell their artwork directly to buyers. This cuts out intermediaries, allowing artists to retain greater control over pricing, marketing strategies, and relationships with collectors. Additionally, it facilitates a more personal connection between the artist and the buyer, enhancing the overall experience.
Regional Insights
North America to hold the leading position in the global market for art
Within North America, the United States holds the majority of the art market share. The United States, particularly cities like New York and Los Angeles, has long been a powerhouse in the art world. New York- home to prestigious auction houses like Christie's and Sotheby's- hosts major art fairs and galleries, which makes it a central hub for artists and investors alike.
The country benefits from a strong economy, a vibrant cultural scene, and a large community of collectors, institutions, and artists. It is home to multiple forms of art, including contemporary, modern, abstract, fantasy, impressionism, and surrealism, among many others.
Competitive Landscape
CJ Corporation is a South Korean conglomerate with diverse business interests, including food and food services, logistics, entertainment and media, home shopping, and more. Initially a sugar and flour manufacturer, CJ has expanded into various industries and is known for its presence in the entertainment sector, particularly CJ ENM, which operates various entertainment businesses like music, film, and television production.
Live Nation Entertainment is a global entertainment company known for its expertise in live events and ticketing services. The company is involved in the management of concerts, festivals, and events globally and operates a vast network of venues. Live Nation is involved in artist management, ticket sales, marketing, and production, making it a significant player in the live entertainment sector.
AMC Entertainment is one of the largest movie theatre chains globally. It operates numerous theatres across various countries, specialising in movie exhibition and distribution. AMC faced challenges during the digital streaming era but has adapted by enhancing its theatres with advanced technology and amenities to offer an enhanced cinematic experience.
Other key players in the global art market are Smithsonian Institution, Cinemark Holdings, Inc., Park West Galleries, Inc., The State Hermitage Museum, Christie’s International Plc, The Metropolitan Opera Association, Inc., Art.sy, Inc., artnet AG, and The Walt Disney Company, among others.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Type |
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| Breakup by Revenue Source |
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| Breakup by End Use |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Art Market Analysis
8.1 Key Industry Highlights
8.2 Global Art Historical Market (2018-2023)
8.3 Global Art Market Forecast (2024-2032)
8.4 Global Art Market by Type
8.4.1 Museums, Historical Sites, Zoos, and Parks
8.4.1.1 Historical Trend (2018-2023)
8.4.1.2 Forecast Trend (2024-2032)
8.4.2 Independent Artists and Performing Art Companies
8.4.2.1 Historical Trend (2018-2023)
8.4.2.2 Forecast Trend (2024-2032)
8.4.3 Sports and Arts Promoters
8.4.3.1 Historical Trend (2018-2023)
8.4.3.2 Forecast Trend (2024-2032)
8.5 Global Art Market by Revenue Source
8.5.1 Media Rights
8.5.1.1 Historical Trend (2018-2023)
8.5.1.2 Forecast Trend (2024-2032)
8.5.2 Merchandising
8.5.2.1 Historical Trend (2018-2023)
8.5.2.2 Forecast Trend (2024-2032)
8.5.3 Tickets
8.5.3.1 Historical Trend (2018-2023)
8.5.3.2 Forecast Trend (2024-2032)
8.5.4 Sponsorship
8.5.4.1 Historical Trend (2018-2023)
8.5.4.2 Forecast Trend (2024-2032)
8.6 Global Art Market by End Use
8.6.1 Individuals
8.6.1.1 Historical Trend (2018-2023)
8.6.1.2 Forecast Trend (2024-2032)
8.6.2 Companies
8.6.2.1 Historical Trend (2018-2023)
8.6.2.2 Forecast Trend (2024-2032)
8.6.3 Others
8.7 Global Art Market by Region
8.7.1 North America
8.7.1.1 Historical Trend (2018-2023)
8.7.1.2 Forecast Trend (2024-2032)
8.7.2 Europe
8.7.2.1 Historical Trend (2018-2023)
8.7.2.2 Forecast Trend (2024-2032)
8.7.3 Asia Pacific
8.7.3.1 Historical Trend (2018-2023)
8.7.3.2 Forecast Trend (2024-2032)
8.7.4 Latin America
8.7.4.1 Historical Trend (2018-2023)
8.7.4.2 Forecast Trend (2024-2032)
8.7.5 Middle East and Africa
8.7.5.1 Historical Trend (2018-2023)
8.7.5.2 Forecast Trend (2024-2032)
9 North America Art Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Canada
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
10 Europe Art Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Germany
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 France
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Italy
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Others
11 Asia Pacific Art Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Japan
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 India
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 ASEAN
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Australia
11.5.1 Historical Trend (2018-2023)
11.5.2 Forecast Trend (2024-2032)
11.6 Others
12 Latin America Art Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Argentina
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Mexico
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Others
13 Middle East and Africa Art Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Nigeria
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 South Africa
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Trade Data Analysis (HS Code – 9701)
15.1 Major Exporting Countries
15.1.1 By Value
15.1.2 By Volume
15.2 Major Importing Countries
15.2.1 By Value
15.2.2 By Volume
16 Competitive Landscape
16.1 Market Structure
16.2 Company Profiles
16.2.1 CJ Corporation
16.2.1.1 Company Overview
16.2.1.2 Product Portfolio
16.2.1.3 Demographic Reach and Achievements
16.2.1.4 Certifications
16.2.2 Live Nation Entertainment Inc.
16.2.2.1 Company Overview
16.2.2.2 Product Portfolio
16.2.2.3 Demographic Reach and Achievements
16.2.2.4 Certifications
16.2.3 AMC Entertainment Holdings, Inc.
16.2.3.1 Company Overview
16.2.3.2 Product Portfolio
16.2.3.3 Demographic Reach and Achievements
16.2.3.4 Certifications
16.2.4 Smithsonian Institution
16.2.4.1 Company Overview
16.2.4.2 Product Portfolio
16.2.4.3 Demographic Reach and Achievements
16.2.4.4 Certifications
16.2.5 Cinemark Holdings, Inc.
16.2.5.1 Company Overview
16.2.5.2 Product Portfolio
16.2.5.3 Demographic Reach and Achievements
16.2.5.4 Certifications
16.2.6 Park West Galleries, Inc.
16.2.6.1 Company Overview
16.2.6.2 Product Portfolio
16.2.6.3 Demographic Reach and Achievements
16.2.6.4 Certifications
16.2.7 The State Hermitage Museum
16.2.7.1 Company Overview
16.2.7.2 Product Portfolio
16.2.7.3 Demographic Reach and Achievements
16.2.7.4 Certifications
16.2.8 Christie’s International Plc
16.2.8.1 Company Overview
16.2.8.2 Product Portfolio
16.2.8.3 Demographic Reach and Achievements
16.2.8.4 Certifications
16.2.9 The Metropolitan Opera Association, Inc.
16.2.9.1 Company Overview
16.2.9.2 Product Portfolio
16.2.9.3 Demographic Reach and Achievements
16.2.9.4 Certifications
16.2.10 Art.sy, Inc.
16.2.10.1 Company Overview
16.2.10.2 Product Portfolio
16.2.10.3 Demographic Reach and Achievements
16.2.10.4 Certifications
16.2.11 artnet AG
16.2.11.1 Company Overview
16.2.11.2 Product Portfolio
16.2.11.3 Demographic Reach and Achievements
16.2.11.4 Certifications
16.2.12 The Walt Disney Company
16.2.12.1 Company Overview
16.2.12.2 Product Portfolio
16.2.12.3 Demographic Reach and Achievements
16.2.12.4 Certifications
16.2.13 Others
17 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Art Market: Key Industry Highlights, 2018 and 2032
2. Global Art Historical Market: Breakup by Type (USD Billion), 2018-2023
3. Global Art Market Forecast: Breakup by Type (USD Billion), 2024-2032
4. Global Art Historical Market: Breakup by Revenue Source (USD Billion), 2018-2023
5. Global Art Market Forecast: Breakup by Revenue Source (USD Billion), 2024-2032
6. Global Art Historical Market: Breakup by End Use (USD Billion), 2018-2023
7. Global Art Market Forecast: Breakup by End Use (USD Billion), 2024-2032
8. Global Art Historical Market: Breakup by Region (USD Billion), 2018-2023
9. Global Art Market Forecast: Breakup by Region (USD Billion), 2024-2032
10. North America Art Historical Market: Breakup by Country (USD Billion), 2018-2023
11. North America Art Market Forecast: Breakup by Country (USD Billion), 2024-2032
12. Europe Art Historical Market: Breakup by Country (USD Billion), 2018-2023
13. Europe Art Market Forecast: Breakup by Country (USD Billion), 2024-2032
14. Asia Pacific Art Historical Market: Breakup by Country (USD Billion), 2018-2023
15. Asia Pacific Art Market Forecast: Breakup by Country (USD Billion), 2024-2032
16. Latin America Art Historical Market: Breakup by Country (USD Billion), 2018-2023
17. Latin America Art Market Forecast: Breakup by Country (USD Billion), 2024-2032
18. Middle East and Africa Art Historical Market: Breakup by Country (USD Billion), 2018-2023
19. Middle East and Africa Art Market Forecast: Breakup by Country (USD Billion), 2024-2032
20. Major Exporting Countries by Value
21. Major Importing Countries by Value
22. Major Exporting Countries by Volume
23. Major Importing Countries by Volume
24. Global Art Market Structure
Key Questions Answered in the Report
In 2023, the market reached an approximate value of USD 73.43 billion.
The market is projected to grow at a CAGR of 3.1% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach a value of around USD 97.22 billion by 2032.
The market is driven by the growing emphasis on diversity, inclusivity, and sustainability, and the rising popularity of digital medium of arts.
The growth of e-commerce and social media platforms and the improving economic conditions around the world are expected to positively influence the market.
The major regional markets are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The different revenue sources include media rights, merchandising, tickets, and sponsorship.
The key players in the market include CJ Corporation, Live Nation Entertainment Inc., AMC Entertainment Holdings, Inc., Smithsonian Institution, Cinemark Holdings, Inc., Park West Galleries, Inc., The State Hermitage Museum, Christie’s International Plc, The Metropolitan Opera Association, Inc., Art.sy, Inc., artnet AG, and The Walt Disney Company, among others.
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