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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 | Jun 2014

Paying a visit: Disposable income growth will increase industry revenue

IBISWorld’s Museums market research report is a comprehensive guide to market size and growth prospects. Our industry reports offer strategic industry analysis of the factors influencing companies, including new product developments, economic, lifestyle and demographic influences, distribution and supply chain factors and pricing issues. Full analysis accompanies our data forecasts to illustrate how the market responds to emerging industry trends.

Report Snapshot
Industry Statistics & Market Size
Revenue
$10bn
Annual Growth 09-14
1.7%
Annual Growth 14-19
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Profit
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Employment
87,899
Businesses
4,959
Industry Analysis & Industry Trends

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... purchase to read more

Industry Report - Industry Key Buyers Chapter

The Museums industry has a low level of market share concentration. In 2014, the top four industry players are expected to account for an estimated 27.3% 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. The majority of museums in the United States, however, are small operators that operate primarily on a local basis; 72.9% of museums have fewer than ten 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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