It remains to be seen, leaving art gallery owners uncertain. This may cut into the profits of art galleries, or it may attract more buyers. The art world has begun working to make art prices more affordable.Interest in nature depicted in art has been rising, as well as interest in contemporary African art.Ĭhallenges in the art gallery industry include:.For example, there is a piece of art in New York City that is a glass dome with floating hearts inside that move, but those hearts are graphic 3D images. 3D motion graphics, which are moving animated images like holograms, have become popular.Virtual art exhibitions emerged during the pandemic and that trend is continuing, giving people a chance to view and buy art online.Number of people employed – The industry employs nearly 35,000 people.Number of businesses – More than 21,000 art dealers operate in the US.(( )).Growth forecast – The global arts market is predicted to bounce back strongly and grow an impressive 15% per year through 2026.(( )). ![]() Industry size and past growth – The US art dealers market is recovering from the pandemic slump and valued at more than $11 billion in revenue in 2022.(( )).The US accounts for nearly half of the global art market(( )), valued at $65 billion in 2021.(( )) Industry size and growth Inconsistent Income – Prices on art are high, so sales can be sporadic.Lots of Lookers – Many people browse galleries without buying.
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