Art is a procedure of arranging elements in a manner which appeals to the feelings or senses of the author. It encompasses various ranges of human activities, creations & ways of expression such as the criticism of art, production of works of art, the study of the history of art, and the visual dissemination of art. It is used to communicate spiritual, political, or philosophical ideas. The key visual design principles of arts include balance (radial balance, symmetrical balance, and asymmetrical balance), contrast, harmony, emphasis, proximity, proportion, and rhythm.
According to study, “Arts Global Market Report 2019” the key companies that are operating in the global arts market are Smithsonian Institution, The Paris Opera Ballet, Cirque du Soleil, The Metropolitan Opera Association, WWE, The Qube, BRIC Arts Media, Alchemy Art Group, Palacio Inc., Connected.ART, Meishubao, Artomatix, Threshold, Portland Ovations, Maine Arts Commission, Craft Music LLC, The Telling Room.
Based on the classical branches, the global art market is segmented into sculpture, painting, architecture, and others (music, film, dance, and other performing arts, as well as literature & other media). Based on traditional categories, the market is segmented into literature arts, graphic arts, visual arts, decorative arts, plastic arts, music arts, performing arts and architecture arts. Literature arts include drama, poetry, and story. Graphic arts include drawing, painting, designs, and others. Visual arts include sculpture and drawing. Decorative arts include furniture design, enamelwork, and mosaic. Plastic arts include modeling and sculpture. Performing arts include dance, theatre, and music. In addition, architecture arts include interior design. Based on an element, the market is segmented into point, shape, line, form, space, color, texture and value. Additionally, based on the form of function, the market is segmented into motivated functions and non-motivated functions. Motivated functions include entertainment, propaganda or commercialism, free zone, psychological & healing purposes, and fitness indicator while non-motivated functions include mysterious, ritualistic & symbolic functions and imagination.
The art market is driven by a rapid increase in the art-buying population, followed by rising in awareness among people, growth in numbers of artists and an increase in the new-era museum industry. Nowadays, art organizers are using Augmented Reality (AR) technology to produce real-world experience for customers. AR is an integration of digital information and the user’s environment in real time. Museums & zoos are using the technology as a tool to educate & entertain the audience by creating a visual tour guide and displaying three dimensional (3D) contents in real-world camera views. Moreover, the growth of the online sector is a new trend of the market. Buying online is easy, convenient, and effective for buyers & sellers and transactions can be made faster. Some popular art sites are Gagosian.com and Artspace.com.
Based on geography, the North-American region holds a major share in arts market, followed by Western-European region owing to an increase in the number of fairs in the region. Asian-Pacific region is expected to witness higher growth rate due to growth in international demand over the forecast period. In the near future, it is estimated that the market will be reached at a rapid pace on account of an increase in the number of buyers & investors.
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