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The fine arts logistics market size is projected to reach a value of USD 4.435 billion in 2027 with a CAGR of 4.3% between 2022 and 2027. The growth of the market depends on several factors such as the emergence of online retail and e-commerce channels, the supportive government organizations and policies, and the increase in fine art exhibitions and events.
Analysis Period | 2017-2027 |
Market Size (2017) Historic Year | USD 3.148 billion |
Market Size (2027) - Forecasted Year | USD 4.43 billion |
Historic Opportunity (2017-2021) | USD 0.312 billion |
Historic CAGR | 2.39% |
Forecasted Opportunity (2023-2027) | USD 0.84 billion |
Market Opportunity Transformation Growth | 41% |
Market Opportunity Capitalization | USD 1.15 billion |
This fine arts logistics market report extensively covers market segmentation by end-user (art dealers and galleries, auction houses, museum and art fair, and others), type (transportation, storage, packaging, and others), and geography (North America, Europe, APAC, South America, and Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
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Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
One of the key factors driving the fine arts logistics market growth is the emergence of online retail and e-commerce channels. There is an increasing popularity for online sales, particularly in developing countries which has fuelled those engaged in fine arts to sell their products at attractive prices through their proprietary online portals. The main advantage of these online portals is that several customers can be influenced by advertisements and promotions and can easily get detailed product specifications on online platforms.
Moreover, the buying of fine art products through online platforms offers various benefits including convenience, ease of payments, discounts and special offers, and the ability to compare a variety of handcrafted products. Additionally, there is an increase in a shift in customer preference for shopping on online platforms when compared to offline channels due to the increasing penetration of the Internet and smartphones across the globe. Hence, such factors are expected to drive market growth during the forecast period.
A key factor shaping the fine arts logistics market growth is the growing demand for integrated fine arts logistics services. There is an increasing demand for professional fine arts logistics services, which offer high-end event logistics and supply chain solutions, coupled with VAS. Sorting, packaging, and delivery of sculptures, paintings, and artifacts; site research and selection; stage set-up for fine arts events; travel management; fine arts event planning and management; and onsite office infrastructure are some of these key services.
Moreover, there is a growing trend of shifting the preference of shippers to fine arts logistics market players that provide a one-stop solution, thereby offering various services to fine arts dealers and galleries and eliminating the time-consuming process related to outsourcing different tasks to different market players. In addition, the outsourcing of fine arts logistics to specialized service providers by fine arts galleries, dealers, and auction houses for the shipping and handling of delicate fine arts products efficiently will drive market growth during the forecast period.
Stringent government regulations and taxes are one of the key challenges hindering the fine arts logistics market growth. There are significant increase in several government regulations in the fine arts logistics industry, including zoning permits and taxation regulations. Some of these regulations comprise the requirement for compliance with homeland security regulations, federal driver safety regulations, state taxes on diesel fuel, and state or federal environmental standards.
Moreover, in Russia, The Cultural Property Export and Import Act regulates the import and export of artworks that are over 50 years old in the country. For instance, in Russia, The Cultural Property Export and Import Act regulates the import and export of artworks that are over 50 years old in the country. In addition, Hence, such regulations are expected to negatively impact the market. Therefore it is expected to hinder the market growth during the forecast period.
The market research report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Fine Arts Logistics Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Asian Logistics Agencies Srl: The company offers fine arts logistics such as art installation, storage, and international shipping, catering to the intricate demands of art handling.
The research report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The art dealers and galleries segment is estimated to witness significant growth during the forecast period. Fine art galleries also improve the brand value of fine arts products, thereby boosting their overall price. The fine arts dealer market remains an essential element in bringing together fine arts products, buyers, and sellers for sales to established collectors and promoting novel collectors. Private sales of fine arts products through dealers and galleries were significant during the past decade, which fuelled the demand for fine arts logistics services.
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The art dealers and galleries segment was the largest segment and was valued at USD 1,323.76 million in 2017. Additionally, in 2021, there was a strong sale of private sales of fine art products through dealers and galleries in Europe. For instance, in the UK, sales of fine arts products and antiques through dealers and galleries are estimated for significant market shares in the top end of the market due to a surge in demand in 2021. In addition to registering with the UK supervising authority, Her Majesty's Revenue and Customs (HMRC), they must satisfy additional obligations, such as conducting know-your-client (KYC) and customer due diligence (CDD) checks. Hence, such factors are expected to fuel the growth of this segment which in turn will drive the market growth during the forecast period.
Based on type, the segment is classified into transportation, storage, packaging, and other. The transportation segment is an essential aspect due to the delicate and valuable nature of artworks. There is an increasing adoption of ground transportation via trucks used for both short and medium distances. Additionally, there are specialized trucks equipped with climate control and shock-absorption systems that enable the protection of artworks from vibration and temperature fluctuations. Furthermore, sea freight is another mode of transportation of large or bulk artworks over longer distances. Even though, it takes a longer duration, it is comparatively cost-effective. Hence, such factors are expected to fuel the growth of this segment which in turn will drive the market growth during the forecast period.
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North America is estimated to contribute 49% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. One of the main countries where there is a significant trading of art and antiques is the US. For instance, the arts and culture significantly contribute approximately 4.5% of the gross domestic product (GDP) in the US, which is larger when compared to the share contributed by industries such as construction, agriculture, and transportation.
Moreover, there are several prominent arts and cultural companies in this space that are specifically into performing arts as well as independent artists, writers, and entertainers and those involved in advertising, specialized design, and other activities related to fine arts. For instance, In 2020, suppliers of fine arts in North America sold the second-highest dollar value of exported paintings and drawings and estimated for 39.3% of the total revenues earned from the international sale of paintings and drawings. Hence, such factors are expected to drive the market growth in the region during the forecast period.
In 2020, during the COVID-19 pandemic, the growth of the global fine arts logistics market witnessed a significant slowdown due to the temporary closure of museums and art galleries in North America. However, in 2021, the initiation of large-scale vaccination drives lifted the lockdown and travel restrictions, which led to the reopening of museums and galleries. Such factors are expected to drive the market during the forecast period.
The fine arts logistics market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
Fine Arts Logistics Market Scope |
|
Report Coverage |
Details |
Page number |
170 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 4.3% |
Market growth 2023-2027 |
USD 841.25 million |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
3.99 |
Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
Performing market contribution |
North America at 49% |
Key countries |
US, Canada, China, Germany, and UK |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Asian Logistics Agencies Srl, CONVELIO SAS, Crown Worldwide Group, Deutsche Bahn AG, Deutsche Post AG, DMS International Ltd., FedEx Corp., Fidelis Packers and Movers, Globe Moving and Storage Co. Pvt. Ltd., Gulf Warehousing Co. Q.P.S.C., hasenkamp Holding GmbH, Katolec Corp., Lotus Fine Arts, Nippon Express Holdings Inc., Rangel Invest Investimentos Logisticos S.A., SOS Global GmbH, Star Worldwide Group Pvt. Ltd., United Artlogistics Pvt. Ltd., Vulcan Fine Art, and Writer Business Services Pvt. Ltd. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by End-user
7 Market Segmentation by Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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