North America and Europe to Sweep the Art and Sculpture Market
As per a report available on XploreMR, the global art and sculpture market is slated to grow unparalleled between 2020 and 2030.
The art and sculpture market is witnessing transformation from conventional mindset to a monetizing mindset. As such, loads of companies have already started with mutual funds with regards to art and sculpture. The functioning is such that these companies do go for investment of the customers’ money for 4-5 years in profit-making art works. This factor is expected to catalyse the art and sculpture market going forward.
The art and sculpture market exists in an unorganized form. For example – it isn’t mandatory for art galleries, dealers, and advisors to have licenses or certificates for operating. Also, collectors are moving around with concern regarding undisclosed commissions, conflicts in terms of interests, and forgeries. Regulations are being suggested for rendering the market more transparent as well as professional. However, till then, professionals have opportunity only as proper art advisors.
What’s more to Glance through the art and sculpture market?
The art and sculpture market, by type, consists of artifacts and sculptures. By application, it says residential individual buyers, interior designers, real estate developers, museums, private collectors, interior designers, and others.
The US witnesses growth in art and sculpture market due to presence of prestigious dealers’ circles and auction houses. Customers do prefer investment in art along with ascertaining people of safe investments with no place for frauds. The country does encourage artworks through favourable policies. That’s why, some of the bestsellers are spotted over here. Moreover, there do exist collectors in this region who go to any extent for purchasing artwork that they lay their hands on. At times, artists themselves go for purchasers who, in their opinion, need “art” the most.
Low cost raw material is being made available, which is positively impacting the Latin American market. It has been found that stones used with respect to sculpture have been made available at a large scale. The North American market is indirectly driving the Latin American market as the prominent players present all over North America do approach Latin America directly to find proper art pieces, that too, in less price. So, it could be inferred that North America and Latin America grow in sync with each other on the count of art and sculpture market.
Events like exhibitions, major auction sales, and art fairs are prompting high value visitors, that too, inbound, to throng the art and sculpture market. This trend is observed in the UK. Arts Council England does make way for government funding for proliferation of arts in England. Over 60% of artworks are exported from the UK.
The players dealing with the art and sculpture market include Bonham, Christies, Sothebys, Phillips Auctioneers, China Guardian Auctions, Frith Sculpture, Pundoles, Bid and Hammer, and Sculptured Arts Studio.
XploreMR has published a new report titled “Art and Sculpture Market: Global Industry Analysis 2012–2016 and Forecast 2017–2025” to offer its clients with crystal clear picture of market trends and opportunities in the global art and sculpture market during the projected period of eight years, i.e. between 2017 and 2025. While examining this market, we have considered market consolidation activities such as merger and acquisition, collaborations, partnerships, license agreements, patent transfer, which may influence the market growth between 2017 and 2025. It has been noted that currency fluctuations and changing taxation policies would have a significant impact on forecasting of global art and sculpture market over the forecast period.
Macro-economic indicators such as art and sculpture market outlook, gross domestic product and others have been considered to arrive at the indicated market numbers. Bottom-up approach has been used to assess market numbers for global art and sculpture market, while the top-down approach has been used to counter-validate the reached numbers for global art and sculpture market. Historical trends have been analyzed to track the data. The global art and sculpture market report begins with the definition of the market. Relevance and impact of forecast factors is used to estimate the market. It is followed by an overview of market dynamics which includes XploreMR’s analysis of key trends, drivers, restraints and opportunities which are influencing the development of the global art and sculpture market.
Impact analysis of key growth drivers and restraints based on a weighted average model has been included at a regional level in the market report after detailed analysis of individual regions to better equip readers with meaningful insights on ongoing developments in the global art and sculpture market. In the final section of the report is dedicated for the detail profiles of various art and sculpture houses which are also included in the scope of the report to evaluate their long- and short-term strategies, key offerings, SWOT analysis, and recent developments in the global art and sculpture market.
By Product Type
- Artifacts (Manuscripts, Decorative art pieces, and others)
By Sales Channel
- Auction Houses
- Art Fairs
- Online Sales
- Retail Outlets
- Individual Sales
- Artists Studios
- Others (consumer-to-consumer, advisors)
By End User
- Private Collectors
- Museums (Local and International)
- Real Estate Developers
- Interior Designers
- Residential Individual Buyers
- Other Professionals (Art Authenticators, Restorers, and Conservators)
- North America
- Latin America
In-depth secondary research is used to determine top industry auction houses, galleries, art fairs, online Platforms, types of products, the end users, overall market size, and buying/selling procedure. We have also developed a list of industry players (Auction houses, Galleries, Art Fairs, Online platforms), distributors, retailers, and industry specialists. Data is validated by triangulation method, in which secondary, primary and XploreMR’s analysis contribute to the final data with the survey accounting for the generalized view through end user perspective.
In order to conduct industry expert’s interviews, this market research company has formulated a detailed discussion guide. We have conducted interviews with industry experts, industry players, distributors, and retailers for data collection and verification. The End user survey is also taken in account with some specific focus surveys like for Interior Designer.
Global Market Study On Art and Sculpture: Private Collectors to Remain Largest End Users in the Art & Sculpture Market Through 2025Buy Now
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