Arte e Cultura
Online Art Market to Hit $23.79 Billion by 2030: Cognitive Market Research
Online Art: by Type (Paintings, Drawings, Sculptures, and Others); by End Customer (Foreign customers and Domestic customers); by Region ( North America , Europe , Asia Pacific , Latin America and Middle East , and Africa ) Global Industry Analysis, COVID-19 Impact, and Industry Forecast, 2018-2030
The rising disposable income in developing and developed countries drive the demand for smart devices such as tablets, smartphones etc. The increasing adoption of smart devices and internet penetration has significantly impacted on many industries, including the art market. People can access to different forms of art from various regions drive the online art market. With more people shopping online, the art market has seen an increase in sales through online channels. This has led to the growth of online art marketplaces and platforms, which have become an increasingly important sales channel for artists and galleries.
Online art marketplaces and platforms have made it easier for artists to reach a wider audience beyond their local or regional markets. This has also made it easier for collectors to discover and purchase art from artists worldwide. Due to internet accessibility, it is convenient and easy to access different art and make an online payment. Access to a broader audience can lead to increased sales and revenue, as artists can reach more potential buyers than ever before.
Shipping and handling challenges of different art forms, such as paintings, drawings, and sculptures, can hamper the growth of the online art market. For instance, many artworks are fragile or oversized, making them difficult to ship and handle. This increases the shipping cost due to the need for better packaging. Shipping artwork across international borders can be particularly challenging, as there are often strict regulations and customs requirements that must be followed.
Due to the rising disposable income and exposure to the art sector, there has been a growing awareness and appreciation for online art in emerging regions in recent years. The increasing availability and accessibility of technology has allowed artists from these regions to showcase their work to a global audience. Growing literacy rate of people in developing countries and increased recognition of the value of cultural diversity. It influences the interest in discovering new and unique artwork from different regions of the world, which provides immense opportunities for the online art market.
https://www.cognitivemarketresearch.com/online-art-market-report
The COVID-19 pandemic had a significant impact on the overall art market, and the online art sector is one of the most affected due to the lockdown and closing of borders. The online art market has dropped enormously during the COVID-19 pandemic. The lockdown situation focused on the healthcare industry and economic uncertainty and these are the other factors responsible for the drop in the online art market. In addition, the pandemic has accelerated the online shopping trend, which has also impacted the art market. Many art lovers are comfortable buying art online.
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