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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 Analysis Chapter

The Museums industry encompasses a wide variety of museums, including art museums, community and historical museums, interactive museums, military museums, natural history museums, science museums and wax museums. The industry also includes halls of fame, art galleries, planetariums and traveling museum exhibits. Art museums and galleries represent the largest share of industry revenue (44.0%), followed by historical museums (22.0%), science and technology museums (19.7%), halls of fame (5.7%), and military museums (5.3%).

The majority of museums in the United States are nonprofit institutions, meaning they obtain tax-exempt status from the Internal Revenue Service (IRS). Although these institutions may generate a profit, this money must be reinvested in the museum... 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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