Arts Market To Grow At A Higher Rate
Posted: Jan 20, 2019
The Business Research Company’s global arts market, covers the year-on-year growth of the global arts historic and forecast growth. It also includes chapters on the trends, geographical analysis, and competitive landscape.
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The global arts market is forecast to grow at a CAGR (compound annual growth rate) of around 5 % to 2022.
Arts Market Trends:
The rise of independent formats, augmented reality and collaborations between art organizations and businesses are the major trends witnessed in the global arts market. With growing popularity of live festivals and other events in countries such as China and India and the use of social media to promote art events, the scope and potential for the global arts market is expected to significantly rise in the forecast period.
Independent Artists And Performing Art Companies was the largest segment in the arts market at 55%. This includes individual actors, actresses, entertainers, music groups or artists, entertainment groups, dance groups, concert artist and other stage performing groups or artists
The global arts is primarily driven by increased disposable income in many developing countries and growing customer interests in concerts and festivals market.
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The global arts market report covers the following regions under the geographical analysis section: Asia Pacific, Western Europe, North America, Middle East, Africa, South America, and Eastern Europe. Major countries under each of these regions are also covered under the country analysis chapters.
Due to growing popularity of live festivals and other events in countries such as China and India and the use of social media to promote art events. The global arts is expected to increase in potential and scope. TBRC’s report also covers the global arts market report drivers and restraints in the market.
The global arts market segment shares in each geographic region are mentioned in the report, along with the historic and forecast growth rates for each segment presented visually with supporting reasons to justify the growth rates.
The top companies included in the global arts report are Smithsonian Institution, Cirque du Soleil, The Paris Opera Ballet, WWE, The Metropolitan Opera Association
The arts services 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.
The global arts market is further segmented based on type and geography.
By Type - The arts market is segmented into Independent artists and performing art companies, sports and arts promoters, museums, historical sites, zoos, and parks, among these segments, the gambling market accounts for the largest share in the global arts market.
By Geography - The global arts is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, the North America arts market accounts the largest share in the global Arts market.
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