Arts Global Market Report 2023

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.

The main types of art services are museums, historical sites, zoos, and parks, independent artists and performing art companies, and sports and arts promoters. Sports and arts promoters organize, promote, and manage live performing arts productions, sports events, and other events such as state fairs, county fairs, agricultural fairs, concerts, and festivals; and manage and provide the staff to operate arenas, stadiums, theaters or other related facilities for rent to other promoters. The different revenue sources include media rights, merchandising, tickets, and sponsorship which are used by individuals, companies, and others.

The global arts market grew from $441.02 billion in 2022 to $579.52 billion in 2023 at a compound annual growth rate (CAGR) of 31.4%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The arts market is expected to grow to $682.08 billion in 2027 at a CAGR of 4.2%.

The art market research report is one of a series of new reports that provides arts services market statistics, including arts services industry global market size, regional shares, competitors with an art market share, detailed arts market segments, market trends and opportunities, and any further data you may need to thrive in the art services industry. This art market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

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.

Asia-Pacific was the largest region in the art market in 2022. Eastern Europe is expected to be the fastest-growing region in the forecast period. The regions covered in the art services market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

The countries covered in the art market are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela, and Vietnam.

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 Acropolis Museum in Athens, Greece, the team used AR technology to bring a collection of architectural and sculptural remains to life.

The art services market includes revenues earned by entities by operating facilities or providing 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, art galleries, and royalties. The market covered in this report does not include revenues from selling artwork and antiques (i.e. through auction houses). The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

Major companies in the art market include 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.



This product will be delivered within 1-3 business days.