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Museums in the US: Market Research Report

Market Research • Market Size • Industry Statistics • Industry Analysis • Industry Trends

Museums Market Research Report | NAICS 71211 | May 2015

Work of art: Museum visitation and private donations have risen, increasing revenue for the industry

IBISWorld’s Museums market research report can be used to help you: understand market size and growth potential; major companies; draft business plans and pitch books; and conduct benchmarking and SWOT analysis. Our industry analysis highlights macro industry trends in the overall sector and micro trends faced by companies that do business in the industry. The industry report also provides key industry statistics and 5-year forecasts to anticipate future industry prospects so you can decide with confidence.

Report Snapshot
Industry Statistics & Market Size
Revenue
$11bn
Annual Growth 10-15
1.8%
Annual Growth 15-20
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Profit
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Employment
97,713
Businesses
9,869
Industry Analysis & Industry Trends

The recession and the economy's subsequent slow recovery have tempered growth for the Museums industry. However, with the economy on the rebound, museum visitation and private donations have risen, increasing revenue for the industry. Over the five years to 2020, economic conditions in the industry are set to improve. Increased disposable income will allow more families and individuals to spend on discretionary services, such as museum visits. Still, gains from improved economic conditions will be partly offset by limited government funding. Industry growth will also likely be tempered by the rising availability and popularity of virtual tours... purchase to read more

Industry Report - Industry Key Buyers Chapter

The Museums industry has a low level of market share concentration. In 2015, the top four industry players are expected to account for an estimated 33.7% of industry revenue. The industry's largest museums have significant endowments from which they generate revenue, such as the J Paul Getty Museum, or receive the majority of their revenue from federal appropriations, such as the Smithsonian Institution. However, the majority of museums in the United States are small operators that operate primarily on a local basis; 72.9% of museums have fewer than 10 employees... purchase to read more

 


Industry ProductsRelated ReportsTable of Contents

What is the Museums Industry?

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.

Industry Products
Art museums and galleriesHistorical museumsScience and technology museumsHalls of fameMilitary museums
 
Industry Activities
Art galleries (except)Art museumsHalls of fameHerbariumsHistorical museumsMarine museumsMilitary museumsMobile museumsNatural history museumsScience and technology museums


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