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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 provides the latest industry statistics and industry trends, allowing you to identify the products and customers driving revenue growth and profitability. The industry report identifies the leading companies and offers strategic industry analysis of the key factors influencing the market.

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 Products Chapter

The Museums industry encompasses a wide variety of institutions. The vast majority of industry enterprises are nonprofit and state-funded institutions aimed at the promotion of culture for the public good. However, an estimated 9.4% of these institutions operate on a commercial basis and generate income through admissions fees and membership subscriptions.

Art museums and galleries

Art museums and galleries represent the largest industry segment, accounting for an estimated 44.0% of industry revenue in 2014. Art museums and art galleries are used for the exhibition of art, typically visually art, and can include both public and private institutions. This segment includes contemporary art museums, decorative art museums and fine art museums... 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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