MUSEUM MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)

The global museum market is estimated to be valued at USD 8.12 Bn in 2024. The market is expected to reach USD 18.24 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 12.3% from 2024 to 2031. A museum refers to a non-profit organization or institution that acquires, conserves, researches, communicates, and exhibits artifacts and objects of artistic, historical, scientific, and cultural importance. Rising historical and environmental awareness among people across the world has fueled the growth of museums. With tourism emerging as a major industry worldwide, museums have found a role in promoting tourism by showcasing local culture and heritage. However, budget constraints continue to pose a challenge for setting up and managing museums.

Market Dynamics:

Increasing tourism, growth in education and learning sector, and rising income levels are some of the key factors driving the global museum market. Over the past decade, international tourist arrivals have grown exponentially thereby boosting museum visits globally. Moreover, establishing museums has become one of the major attractions for tourists in many countries. Another significant factor is the growth in education and learning sector. Museums serve as ideal platforms for gaining practical knowledge about history, science, and culture which supplements classroom education. Additionally, rising per capita income has enabled people to spend more on leisure and travelling activities including museum visits. However, high costs associated with setting up and operating museums as well as challenges in attracting younger visitors are the major restraints impeding the market growth. On the other hand, growing adoption of digital technologies like AR/VR is expected to open new opportunities for the market over the coming years.

Key Features of the Study:

- This report provides in-depth analysis of the global museum market, and provides market size (USD Bn) and compound annual growth rate (CAGR%) for the forecast period (2024–2031), considering 2023 as the base year

- It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market

- This study also provides key insights about market drivers, restraints, opportunities, new service launches or approvals, market trends, regional outlook, and competitive strategies adopted by key players

- It profiles key players in the global museum market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies

- Key companies covered as a part of this study include The British Museum, The Louvre, The Metropolitan Museum of Art, The Smithsonian Institution, The Vatican Museums, The National Gallery, The State Hermitage Museum, The Museum of Modern Art (MoMA), The Natural History Museum, The Getty Center, The Rijksmuseum, and The Tate Modern

- Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics

- The global museum market report caters to various stakeholders in this industry including investors, suppliers, service providers, new entrants, and financial analysts

Market Segmentation

•  Type Insights (Revenue, USD Bn, 2019 - 2031)
• • Art Museums
  • History Museums
  • Science Museums
  • Children’s Museums
  • Others
•  Revenue Source Insights (Revenue, USD Bn, 2019 - 2031)
• • Admission Fees
  • Donations and Grants
  • Membership Fees
  • Merchandising
  • Others
•  Governance Insights (Revenue, USD Bn, 2019 - 2031)
• • Public
  • Private
  • Corporate
  • Others
• Regional Insights (Revenue, USD Bn, 2019 - 2031)
• • North America
    • U.S.
    • Canada
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Rest of Latin America
  • Europe
    • Germany
    • U.K.
    • Spain
    • France
    • Italy
    • Russia
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • Australia
    • South Korea
    • ASEAN
    • Rest of Asia Pacific
  • Middle East
    • GCC Countries
    • Israel
    • Rest of Middle East
  • Africa
    • South Africa
    • North Africa
    • Central Africa
• Key Players Insights
  • The British Museum
  • The Louvre
  • The Metropolitan Museum of Art
  • The Smithsonian Institution
  • The Vatican Museums
  • The National Gallery
  • The State Hermitage Museum
  • The Museum of Modern Art (MoMA)
  • The Natural History Museum
  • The Getty Center
  • The Rijksmuseum
  • The Tate Modern