Arts Market Report 2025

The arts market size has grown strongly in recent years. It will grow from $532.09 billion in 2024 to $566.85 billion in 2025 at a compound annual growth rate (CAGR) of 6.5%. The growth in the historic period can be attributed to strong emerging markets growth, growth in world population, government initiatives, growth of the experience economy, rising tourism, increase in concerts, increased internet penetration, and increased availability of mobile devices.

The arts market size is expected to see strong growth in the next few years. It will grow to $716.85 billion in 2029 at a compound annual growth rate (CAGR) of 6%. The growth in the forecast period can be attributed to the emergence of independent artists, an increase in arts e-commerce purchases, economic growth, increase in internet penetration, and an increase in the use of social media. Major trends in the forecast period include adopting augmented reality to introduce a better experience and entertain the audience, adopting virtual reality to offer a more immersive experience for customers, adapting to new music platforms to gain more opportunities, offering digital streaming of content, adopting to mobile ticketing, offering ambient scenting in live performances, investing in IoT solutions to increase efficiency and introducing blockchain-based platforms.

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

The increasing demand for paintings is expected to drive the growth of the art market in the future. Paintings are a form of visual art that conveys the expression of thoughts and feelings on a two-dimensional surface. The purchase of paintings not only enhances individual collections but also supports artists and the arts community as a whole. For instance, a report released in November 2023 by the Department for Culture, Media & Sport, a UK-based organization, highlighted that according to the Participation Survey for April 2022 to March 2023, 90% of adults in England engaged with the arts at least once during the year, representing a 2% increase from the previous year. Therefore, the rise in painting auctions is anticipated to contribute to the growth of the art market.

Major companies in the art market are concentrating on developing innovative products, such as digital art platforms, to deliver reliable services to customers. A digital art platform is a software application or online service that equips artists with the necessary tools and features for creating digital art. For example, in September 2023, Philips, a Netherlands-based technology company dedicated to enhancing people's health and well-being through innovation, launched the New Terrains series, which focuses on contemporary Indigenous art. This initiative aims to highlight underrepresented artists and their contributions, addressing the growing demand for diversity within the art market. By showcasing Indigenous perspectives in the contemporary art scene, Philips not only promotes these artists' work but also fosters broader conversations about representation and inclusivity in the art community.

Art organizers are employing augmented reality (AR) technology to craft immersive experiences for consumers. AR, the integration of digital information into the user's real-time environment, is being utilized by museums and other institutions to educate and entertain audiences. For instance, the Cleveland Museum of Art employs AR to provide users with interactive access to comprehensive information about each artwork in its collection. Similarly, the Acropolis Museum in Athens, Greece, utilizes AR to animate architectural and sculptural remains, bringing historical artifacts to life for an enhanced viewing experience.

Major companies operating in the arts market include Artsy Inc., Saatchi Art, Artspace, Artnet Worldwide Corporation, Sotheby’s, Christie’s International PLC, Singulart, UGallery, Zatista, 1stdibs.com, Inc., Rise Art, Tappan Collective, Minted LLC, ArtFinder, ArtPal, Artsper, Vango Art, Artplode, Contemporary Art Platform, Lumas Gallery, Affordable Art Fair Ltd., Art Basel, Redbubble Ltd., Bluecanvas, Society6 LLC, Behance (Adobe Inc.), Cargo Collective, DeviantArt, Inc., Art.com Inc., Visual Art Network.

Asia-Pacific was the largest region in the art market in 2024. 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. The countries 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.

The art 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.

Art is a deliberate arrangement of elements that aims to influence and evoke sensations, emotions, and intellectual responses. It serves as a means to process emotions and gain insights into our surroundings, offering a unique perspective that enlivens our experiences.

The main categories of arts encompass museums, historical sites, zoos, parks, independent artists and performing art companies, as well as sports and arts promoters. Sports and arts promoters specialize in organizing, promoting, and managing live performances, sports events, and various gatherings such as fairs, concerts, and festivals. Additionally, they oversee the operation of venues such as arenas, stadiums, and theaters, providing these spaces for rent to other promoters. Revenue streams for these services include media rights, merchandising, ticket sales, and sponsorships, engaging individuals, companies, and other entities.

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 arts 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.

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.

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