Global Arts Market Size, Drivers, Trends, Opportunities And Strategies – Includes Arts Market Analysis
The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032
Augmented reality (AR) technology are expected to drive innovation in arts manufacturing, thus driving the market during the forecast period.
The global arts market is expected to grow from $441.02 billion in 2022 to $579.52 billion in 2023 at a compound annual growth rate (CAGR) of 31.4%. The arts market is expected to grow to $682.08 billion in 2027 at a CAGR of 4.2%.
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Global Arts Market Segments Include:
- 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, Other End-Users
- Subsegments Covered: Museums, Historical Sites, Zoos & Botanical Gardens, Nature Parks and Other Similar Institutions, Visual Arts, Performing Arts, Sports Promoters, Arts Promoters
- By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Asia Pacific is the largest region in the global arts market in 2021.
Major Market Players in the arts market include CJ Corp, Live Nation Entertainment, Inc., Cineworld Group plc, AMC Entertainment Holdings, Inc., Smithsonian Institution, Washington, D.C., Cinemark Holdings.
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.
The Arts Global Market Report 2023 provides a arts market overview for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The arts market forecast analyzes arts market size, arts market share, leading competitor market positions. The regions covered in the report include Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa and the countries include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
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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