Thursday, March 30th, 2023

Global Art Market Industry Overview 2022

Art Market Industry Overview:

The Art Market study provides comprehensive information on the market’s future development. This report identifies major trends that are influencing the growth of the Art market. The COVID-19 focus is also covered in the paper, as well as how the pandemic has slowed market growth and created incredible opportunities for those on the lookout. With the help of manufacturers, providers, merchants, and industry experts, a complete understanding of the Art market are revealed in this study.

The global art market is expected to grow from $347.53 billion in 2020 to $505.05 billion in 2021 at a compound annual growth rate (CAGR) of 17.6%.

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One of the primary factors propelling the global art market is HNWIs’ increasing spending on artwork. Since 2000, the number of millionaires in the world has increased by 170 percent. According to a Credit Suisse estimate, the world’s millionaires number approximately 36 million. The growing population of these HNWIs is driving up demand for high-end art. According to UBS and Arts Economics, in 2017, 35% of HNWIs in the United States were involved in the art and collectibles sector.

Some of the Top companies Influencing in this Art Market include:
Art Galleria, ArtBase, ArtBinder, ArtCloud, ArtFundi, Artlogic, Artlook Software, GallerySoft, IT gallery, Managed Artwork, Masterpiece Manager, My Online Art Gallery, PrimaSoft PC, Primer, and Spinnsoft Gallery.

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