During the five years to 2014, the Museums industry was adversely affected by declining disposable income and lower consumer confidence brought on by the recession. However, conditions began to turn around, with the majority of museums reporting an increase in attendance, a trend that has continued throughout the five- year period. Furthermore, improving economic conditions resulted in a rise in private donations, the largest source of industry revenue. In the five years to 2019, revenue growth will be bolstered by a rise in disposable income, a decline in unemployment and enhanced consumer confidence. Still, industry revenue will be partly offset by limited government funding and the rising availability and popularity of virtual tours.
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 objects.
The report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecast, growth rates and an analysis of the industry key players and their market shares.