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Museums in the US - Industry Market Research Report

  • April 2017
  • 33 pages
  • Ibisworld
Report ID: 243248

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Work of art: Museum visitation and private donations will stimulate industry revenue growth

Museums in the US

The Museums industry has experienced strong growth over the past five years as rising per capita disposable income enabled a growing number of US consumers to make discretionary purchases of museum admissions tickets and merchandise.

Moving forward, the industry is anticipated to continue growing, fueled by improving economic conditions. Rising per capita disposable income and increasing travel activity are expected to be the dominant factors aiding revenue growth. However, gains from beneficial economic conditions will be partly offset by limited government funding due to the persistence of budgetary pressures. Industry growth will also be tempered by the rising availability and popularity of virtual tours, particularly for well-known museums in the United States.This industry engages in the preservation and exhibition of objects of historical, cultural and educational value and includes art galleries, art museums and other museums in general. This industry does not include commercial art galleries that sell art products and objects.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.

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