Global Arts Market Size 2024, Forecast To 2033

11 Mar, 2024

The arts market size has demonstrated robust growth in recent years, escalating from $524.43 billion in 2023 to $557.49 billion in 2024 at a CAGR of 6.3%. The growth in the historic period is attributed to the strong expansion of emerging markets, the growth in the global population, government initiatives, the rise of the experience economy, increased tourism, a surge in concerts, heightened internet penetration, and the widespread availability of mobile devices. Projecting into 2028, the market is expected to sustain strong growth, reaching $707.79 billion at a CAGR of 6.1%. Factors contributing to this growth include the emergence of independent artists, an increase in arts e-commerce purchases, economic growth, heightened internet penetration, and an uptick in social media usage. Noteworthy trends in the forecast period encompass the adoption of augmented reality for enhanced audience experience, the incorporation of virtual reality for immersive customer experiences, the utilization of new music platforms for expanded opportunities, digital content streaming, mobile ticketing adoption, ambient scenting in live performances, investments in IoT solutions for increased efficiency, and the introduction of blockchain-based platforms.

Global Arts Market Key Driver

Augmented reality (AR) technology is being harnessed by art organizers to create immersive experiences for audiences, integrating digital information with the real-world environment. Museums and zoos are utilizing AR as an educational and entertaining tool, offering visual tour guides and presenting 3D content within a real-world camera view. Examples include the Cleveland Museum of Art, which employs AR technology for interactive access to comprehensive information about artworks, and the Acropolis Museum in Athens, Greece, where AR brings architectural and sculptural remains to life. The adoption of AR in cultural institutions enhances visitor engagement and understanding through innovative and interactive experiences.

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Global Arts Market Segments

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 Sub segments: Museums, Historical Sites, Zoos & Botanical Gardens, Nature Parks And Other Similar Institutions, Visual Arts, Performing Arts, Sports Promoters, Arts Promoters
By Geography:The regions 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 Asia-Pacific was the largest region in the art market in 2023. Eastern Europe is expected to be the fastest-growing region in the forecast period. The regions covered in the arts market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

Major Arts Industry Players

Live Nation Entertainment Inc., Smithsonian Institution, AMC Entertainment Holdings Inc., Cirque du Soleil, Bolshoi Theatre, Anschutz Entertainment Group, Metropolitan Museum of Art, Poly Culture Group Corporation Limited, Louvre Museum, San Diego Zoo Wildlife Alliance, Saregama India Limited, Tips Industries Limited, Universal Music India, Times Music, T-Series Limited, Sony Music Entertainment India Pvt Ltd, EE-Media, Genjing Records, Ocean Butterflies Music, Pest Productions, Outdustry, Split Works, UMusic, Friends of Air, Head Records, Shock Records, Dew Process, Liberation Music, Plus One Records, Remote Control Records Pty Ltd, MGM Distribution, Hebei fine art, k11 Musea, Ghibli Museum, Edo Tokyo Museum, Hakone Open-Air Museum, Hiroshima Peace Memorial Museum, Calico Museum Ahmedabad, Salar Jung Museum Hyderabad, Ullens centre for contemporary art, Mountain Lu National Park, Giant Panda National Park, Chhatrapati Shivaji Vastu Museum Mumbai, Indian Museum Kolkata, Beijing Great Wall National Park, Beijing Ancient Architecture Museum, Beijing Folk Arts Museum, Beijing Liao and Jin City Wall Museum, Beijing Museum of Contemporary Art, National Museum Delhi, Northeastern China Tiger and Leopard National Park, Potatso National Park, Shennongjia National Park, Zhejiang Qianjiangyuan National Park, Hunan South Mountain National Park, Domino Music, Outside Music, Hipgnosis Songs Fund, Modern Sky, Believe Music, English National Opera, Royal National Theatre, Royal Shakespeare Company, Royal Ballet, Royal Opera, Birmingham Royal Ballet, Rodin Museum, Quai Branly Museum, Vanoise National Park, Ecrins National Park, Mercantour National Park, Snowdonia National Park, Peak District National Park, Yorkshire Dales National Park, Bavarian Forest National Park, Moscow Art Theatre, Russian State Institute of Performing Arts, Russian Institute of Theatre Arts – GITIS, DEREVO, Durov Animal Theater, Lenkom Theatre, Mayakovsky Theatre, Moscow Hermitage Garden, Moscow Pushkin Drama Theatre, Moscow Satire Theatre, Sovremennik Theatre, Stanislavski and Nemirovich-Danchenko Theatre, Kirov, Hortobágy National Park, Kiskunság National Park, Bükk National Park, Ferto-Hanság National Park, Mikailovsky Palace, The State Russian Museum, Lyric Opera of Chicago, Regal Entertainment Group, Carmike Cinemas Inc, Canadian Museum for Human Rights, Royal Ontario Museum, Royal Alberta Museum, Remai Modern, Canadian Museum of Nature, Museo Nacional de Antropología (MNA), Museo Frida Kahlo, MUAC, Cosmovitral Jardín Botánico, Orquideas Moxviqui, Royal Botanical Gardens, Toronto Botanical Garden, Montreal Botanical Garden, Reford Gardens, Calgary Zoo, Edmonton Valley Zoo, Granby Zoo, Guadalajara Zoo, Theatro Municipal de São Paulo, Sala Minas Gerais, Universal Music Latin Entertainment, The Rio de Janeiro Botanical Garden, The Buenos Aires Botanical Garden, Museum of Art Of Sao Paulo, Oscar Niemeyer Museum, Art Museum Of Belem, Museum Of Sacred Arts, Museo de la Plata, Museo Paleontológico Egidio Feruglio, Mundo Marino, Temaiken Biopark, The São Paulo Zoo, Edge Of Arabia, Sharjah Performing Arts Academy, Warner Music Group, Artlist, Deezer, The Dubai Moving Image Museum, Etihad Museum, Dubai Museum, Sharjah Museum of Islamic Civilisation, Sharjah Maritime Museum, Aswan Botanical Garden, Bagh-e-Fin, Doha zoo, Kabul zoo, Tehran Zoological Garden, Sana'a Zoo, Cape Performing Arts Board (CAPAB), The Egyptian Modern Dance Theatre Company, The South African State Theatre, The Playhouse Company, Artscape Theatre, The Market Theatre and the Performing Arts Council of the Free State, Senegal's Museum of Black Civilizations, Zeitz Museum of Contemporary Art, Iziko South African Museum, Kirstenbosch National Botanical Garden, Seychelles National Botanical Gardens, Entebbe Botanical Gardens, Sarius Palmetum Botanical Garden.

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Arts Market Overview

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.

Arts Global Market Report 2023 provides data on the global arts market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The arts market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.