A new report published by Persistence Market Research titled “Art and Sculpture Market: Global Industry Analysis (2012 to 2016) and Forecast (2017–2025)” tracks the growth of the global art and sculpture market for the eight year period 2017 – 2025. The market is segmented by product type, sales channel, end user and region. According to the report forecast, the global art and sculpture market was valued at US$ 8,640.0 Mn in 2016 and is projected to reach US$ 24,632.1 Mn by 2025 end. The market is expected to witness high revenue growth during the forecast period. This growth is attributed to an increased awareness about art products as an investment and not just another decorative piece.
Global Art and Sculpture Market: Important Facts
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Global Art and Sculpture Market: Forecast by Product Type
Product type segment is classified into artifacts that include manuscripts, decorative art pieces, and others. The sculpture segment holds a high market share and is estimated to grow significantly during the forecast period. Sculptures are typically sold along with paintings and this is increasing the customer base for sculptures.
Global Art and Sculpture Market: Forecast by Sales Channel Type
On the basis of sales channel type, the global art and sculpture market is segmented into auction houses, dealers, retail outlets, and individual sales. Dealers segment is sub-segmented into galleries, art fairs and online sales, while individual sales segment is further segmented into artist’s studio and others that includes consumer-to-consumer and advisors. Revenue growth and market share of the dealers segment is expected to remain high during the study period.
Global Art and Sculpture Market: Forecast by End User
Private collectors, museums (local and international), real estate developers, interior designers, residential individual buyers and other professionals (art authenticators, restorers, and conservators) are some of the end users of art and sculptures. Most of the regions in the world are influenced by the U.S. perspective of art and sculpture and are either moving or changing their perspective for art. This has enhanced the significance for private collectors, thereby boosting market share of this segment.
Global Art and Sculpture Market: Forecast by Region
Five regions such as North America, Latin America, Europe, APAC and MEA have been covered in this report. In terms of value, North America market is projected to be the most attractive regional market for art and sculpture during the forecast period. The Europe art and sculpture market is anticipated to register steady increase in Y-o-Y growth rates throughout the forecast period. In terms of value, Europe is expected to expand at a CAGR of 10.6% during the forecast period.
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Global Art and Sculpture Market: Competition Tracking