Museums in the US - Industry Market Research Report

Museums in the US - Industry Market Research Report

  • February 2018 •
  • 36 pages •
  • Report ID: 243248
Artistic merit: Rising disposable income and increased travel activity will bolster revenue growth

Abstract

Museums in the US
The Museums industry encompasses a wide variety of institutions, including art museums and galleries, historical museums, military museums, science museums and wax museums, that are engaged in the preservation and exhibition of objects of historical, cultural and educational value. Over the five years to 2018, these institutions have experienced strong growth, as rising levels of per capita disposable income have enabled a growing number of US consumers to make discretionary purchases of museum admission tickets and merchandise.

Over the five years to 2023, the Museums industry is expected to continue growing, fueled by rising per capita disposable income and increasing travel activity. Increased per capita disposable income will enable more families and individuals to spend on discretionary purchases, such as museum admission fees and merchandise. Additionally, as inbound trips by non-US residents and domestic trips by US residents continues to increase, operators located near major tourist destinations will benefit.

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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Country=UnitedStates Industry=CulturalAttraction ParentIndustry=Services Date=201802 Topic=Forecast Publisher=Ibisworld Price=1000