Work of art: Rising foreign demand and incomes will drive robust revenue gains

Online art sales will continue to grow steadily as consumers increasingly use the internet to bid on art auctions. A low trade-weighted index (the measure of the US dollar against foreign currencies) has boosted demand through an increase in overseas art sales. The market for online art sales will continue to benefit from an affluent and global customer base through the next five years, but the double-digit gains in exports exhibited during the beginning of the 21st century will eventually moderate into more stable growth...purchase to read more.

Industry Statistics & Market Size
Annual Growth 12-17
Forecast Growth 17-22

Industry Threats & Opportunities

  • Affluent customers kept the industry afloat while brick-and-mortar stores suffered
  • Online art sale operators have allowed connoisseurs to buy and bid from anywhere in the world
  • Mobile applications are anticipated to provide further room for innovation
  • Industry Report - Industry Locations Chapter

    This industry's establishments are spread around the United States roughly in line with the distribution of the population. The majority of players in this industry have businesses in the Southeast, West and the Mid-Atlantic, with 21.4%, 24.4% and 17.0% of industry establishments located in these regions, respectively. These regions are also home to the highest concentrations of the US population, and represent 58.1% of the population. In addition, the Southeast, West and the Mid-Atlantic regions employ the highest number of workers and provide the highest wages. California houses the greatest number of industry businesses, with 17.7%. Florida and New York trail California, with 8.9% of establishments located in both states. Not...purchase to read more.

    Additional Insights for the Online Art Sales Industry

    IBISWorld identifies 250 Key Success Factors for a business.The most important for the Online Art Sales Industry are

  • Ability to control inventory of artwork
  • Ability to quickly adopt new technology
  • Having a loyal customer base
  • IBISWorld analysts also discuss how external factors such as Consumer spending and Number of broadband connections in the Online Art Sales industry impact industry performance..

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    What's in this report

    What is the Online Art Sales Industry?

    This industry primarily retails or auctions original and limited-edition artwork. Industry players purchase artwork from artists, individual owners and other dealers for resale or auction to consumers with little or no further development of the product. Sales of reproductions are excluded.

    Industry Products
  • Paintings
  • Drawings
  • Sculptures
  • Photography
  • Other media
  • Prints
  • Industry Activities
  • Internet art sales
  • Online art auctions
  • Online art fairs
  • Online art trade and dealing
  • Table of Contents

    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources
    Industry Statistics Snapshot
    Industry Structure
    Executive Summary
    Executive Summary
    Key External Drivers
  • Consumer spending
  • Number of broadband connections
  • Demand from art dealers
  • Demand from e-commerce and online auctions

  • Current Performance
  • Industry demand
  • Technological changes and social media
  • Chart: Revenue Growth

  • Industry Outlook
  • The digital age
  • Tax complications
  • Table: Online Art Sales Industry Revenue Outlook

  • Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Online Art Sales Industry Lifecycle vs The Economy

  • Supply Chains
    Key Buying Industries
  • Retail Trade
  • Museums
  • Historic Sites
  • Hotels & Motels
  • Consumers

  • Key Selling Industries
  • Art Dealers
  • Computer Stores
  • Consumers
  • Museums
  • Performers & Creative Artists

  • Products & Services
  • Prints
  • Paintings
  • Photography
  • Drawings
  • Sculptures
  • Other media
  • Chart: Online Art Sales Industry Products and Services Segmentation

  • Demand Determinants
    Major Markets
  • Consumers aged 30 to 40
  • Consumers aged 40 and older
  • Consumers aged 30 and younger
  • Chart: Major Market Segmentation for the Online Art Sales Industry

  • International Trade
    Business Locations
    Chart: Business Locations by State
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
  • Chart: Cost Structure Benchmarking – Sector vs Online Art Sales

  • Basis of Competition
    Barriers to Entry
  • Table: Barrier to Entry Checklist for the Online Art Sales Industry

  • Industry Globalization
    Heritage Auctions Inc., Sotheby's Holdings Inc., Christie's International,
  • Table: Heritage Auctions Inc. - financial performance
  • Table: Sotheby's Holdings Inc. - financial performance
  • Table: Christie's International - financial performance

  • Capital Intensity
  • Chart: Level of Capital Intensity for the Online Art Sales Industry
  • Chart: Tools of the Trade: Growth Strategies for Success

  • Technology & Systems
    Revenue Volatility
  • Chart: Volatility vs Industry Growth

  • Regulation & Policy
    Industry Assistance
    Table: Industry Data for the Online Art Sales Industry
  • Industry Revenue (2008-2022)
  • Industry Gross Product (2008-2022)
  • Establishments (2008-2022)
  • Businesses (2008-2022)
  • Employment (2008-2022)
  • Wages (2008-2022)
  • Consumer spending (2008-2022)

  • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
  • A business that deals with its customers face-to-face in an office or store that the business owns or rents.
  • E-Commerce
  • A business model that enables a company to conduct business over the internet through payment transaction systems.
  • E-Tailers
  • Companies that sell goods and services through the internet.
  • What Our Customers Say

    Why buy this report?

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    This report on Online Art Sales:
    • Provides Market Size information to assist with planning and strategic decisions.
    • Includes the necessary information to perform SWOT, PEST and STEER analysis.
    • Helps you understand market dynamics to give you a deeper understanding of industry competition and the supply chain.
    • Analyses key performance and operational metrics so that you can benchmark against your own business, that of your customers’ businesses, or your competitors’ businesses.
    The Online Art Sales market research report includes:
    • Historical data and analysis for the key drivers of this industry
    • A five-year forecast of the market and noted trends
    • Detailed research and segmentation for the main products and markets
    • An assessment of the competitive landscape and market shares for major companies
    • And of course, much more

    IBISWorld reports on thousands of industries around the world. Our clients rely on our information and data to stay up-to-date on industry trends across all industries. With this IBISWorld Industry Research Report on Online Art Sales, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

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