Global Art and Sculpture Market Projected to Reach US$ 24 Bn by 2025

Recently a new research study titled “Global Market Study On Art and Sculpture: Private Collectors to Remain Largest End Users in the Art & Sculpture Market Through 2025” has been submitted to the repository of Market Research Reports Search Engine (MRRSE). The global art and sculpture market is projected to reach a valuation of over US$ 24 Bn by the end of 2025.

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According to the report, the demand for art and sculptures will remain concentrated among demographics with high net income. Currently, the preference for best quality art and collectibles is witnessing steady growth, and as the number of ultra-wealthy individuals is growing at a brisk pace, it is anticipated that the market may witness an increase during the assessment period.

The report analyzes the global art and sculpture market by sales channel, end user, product and region. On the basis of sales channel, the global market is further analyzed in terms of individual sales, dealers, auction houses and retail outlets. The end user segment categorizes the global market into various sub-segments which are residential individual buyers, real estate developers, private collectors, interior designers, museums and others. By product, the report bifurcates the global market into sub-segments which are artifacts and sculptures. Geographically, the global market is divided into key regions which are North America, Latin America, Asia Pacific and Middle East and Africa.

Dealers remain one of the most lucrative sales channel types globally, and it is anticipated that demand will continue to remain significant during the assessment period. The key sub-segments among dealers include online sales, galleries, and art fairs. By end-user, private collectors are likely to account for significant demand, whereas museums and real estate developers will also complement demand.

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North America continues to be one of the leading markets for art and sculpture globally. The demand for art and sculpture in North America is influenced by growing adoption in the US. The North American market has a high influence on the prospects of the global art and sculpture market.

The report also profiles some of the leading players in the art and sculpture market. Some of the key players operating in the global market are Sotheby’s, Bonham's 1793 Limited, China Guardian Auctions Co Ltd., Sculptured arts studio, Pundole’s, AstaGuru, Christie’s, Phillips Auctioneers LLC, Frith sculpture, WorldArtCommunity and Bid & Hammer. These players are focusing on identifying emerging artists and launching new themes in the market.

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This release was published on openPR.