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Museums Market Share

Report ID: GMI9739
Published Date: Jun 2024
Report Format: PDF

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Museums Market Share

Metropolitan Museum of Art and Los Angeles County Museum of Art (LACMA) hold a high market share in the museums industry. Metropolitan Museum of Art focuses on significantly expanded its digital footprint by offering virtual tours and extensive online collections. This allows global audiences to access their collections and engage with the museum remotely. Also, the museum has active social media accounts that share content, stories, and updates, enhancing its reach and engagement.

LACMA focuses on curating innovative and contemporary art exhibitions that appeal to a broad audience and reflect current cultural trends. The company emphasizes developing interactive and immersive experiences using technology to engage visitors in new and exciting ways.

Museums Market Companies

Major companies operating in the museums industry are:

British Museum
Guggenheim Museum
Louvre Museum
Metropolitan Museum of Art
Museum of Modern Art (MoMA)
Prado Museum
Rijksmuseum
State Hermitage Museum
Uffizi Gallery
Vatican Museums

Authors: Preeti Wadhwani, Aishwarya Ambekar

Frequently Asked Questions (FAQ) :

The market size of museums reached USD 57.2 billion in 2023 and is set to witness 6% CAGR from 2024 to 2032, owing to the new additions and new exhibitions worldwide.

The public governance segment in the museums industry accounted for 50% share in 2023, due to the launch of state funds and programs to preserve heritage and promote cultural tourism.

The art museums type segment held over 37% share in 2023, as they offer interactive and educational programs that appeal to a wide range of audiences, from school groups to art enthusiasts.

North America market recorded 35% revenue share in 2023, owing to the strong emphasis on cultural preservation and education along with increasing public and private investments.