Global Arts Market Report 2022 – Market Forecast, Trends And Strategies

The global arts market size is expected to grow from $275.58 billion in 2021 to $455.37 billion in 2022 at a compound annual growth rate (CAGR) of 65.2%. The growth in the market is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The arts market is expected to reach $795.63 billion in 2026 at a CAGR of 15%.

What is the Global Arts Market?

The arts market consists of sales of arts services and related goods by entities (organizations, sole traders and partnerships) that operate facilities or provide services for cultural, entertainment and recreational interests such as producing live performances or events and preserving and exhibiting objects of the art-related interests of patrons. Revenues in this market include entry fees to theatres and art galleries and royalties.

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What drives the Global Arts Market?

Art organizers are using augmented reality (AR) technology to create real world experience 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, 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 Acropolis Museum in Athens, Greece, the team used AR technology to bring a collection of architectural and sculptural remains to life.

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Global Arts Market Segments
The global arts market is segmented:
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-User: Individuals, Companies, Others
By Geography: The regions covered in the arts market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

Arts Global Market Report 2022provides market size and growth forecasts for the global arts market, global arts market share, arts market segments and geographies, arts market competitive landscape including leading competitors’ revenues, profiles and market shares. The arts market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.

Global Arts Industry Playersinclude CJ Corp, Live Nation Entertainment, Inc., Cineworld Group plc, AMC Entertainment Holdings, Inc., Smithsonian Institution, Washington, D.C., Cinemark Holdings, Inc., Madison Square Garden Company, PVR Limited, The Metropolitan Opera Association and The State Hermitage Museum. Based on industry trends and company analysis, the report explains a number of strategies for companies in the market.