PUBLISHER: KBV Research | PRODUCT CODE: 1789316
PUBLISHER: KBV Research | PRODUCT CODE: 1789316
The Global Online Art Market size is expected to reach $16.27 billion by 2032, rising at a market growth of 6.1% CAGR during the forecast period.
The native consumers enjoy some benefits associated with buying art from their own country. It gives them the advantage of paying less, fast delivery, easier return options, and the use of known local payment methods. With the rise of social media and local platforms, many artists are building a strong presence in their home market. Additionally, most of the local art websites contribute to increased sales within the nation.
Market Growth Factors
Digitization and Technological Advancements
The rising digitalization has revolutionized how customers search, buy, and enjoy art. At the core of this shift is swift progress of online applications that support artists, collectors, and galleries connect with people all over the globe, without being tensed about distance. This usage of digital tools is the reason behind the growth of the online art market. It makes the process of access and buying of art simple, with a smooth shopping experience.
Globalization and Expansion of Art Access
Globalization has opened new paths to presenting products and services to customers from any part of the world and not just local places. Now people from any location can take part in the auctions and search for new artists and buy from galleries that are miles away from them while sitting at their homes. This shift has provided a whole new lot of opportunities for not only the buyers but also the artists to be seen among a wider range of audience.
Market Restraining Factors
One of the major drawbacks of buying online art is that it lacks the sense of touch and vision before purchasing. Additionally, the personal experience of feeling its texture, seeing the colors, and the idea of how it looks in real space is ignored. These small aspects connect the buyers to the art. Without the sense of touch and vision in the buying art online creates uncertainty among the people. This is a serious concern for the buyers who are passionate about art and care a lot about texture, the colors, and brush strokes. Hence, it is a big restraint for the online art market.
Value Chain Analysis
The image illustrates a typical value chain analysis, highlighting the sequential flow of activities that add value to a product or service. It begins with Inbound Logistics, where raw materials and inputs are received and stored. This is followed by Operations, where these inputs are transformed into final products through various production processes. Next comes Marketing & Sales, which involves promoting and selling the products to target customers. Outbound Logistics ensures that finished goods are efficiently distributed to customers. Finally, Support Service provides after-sales support to maintain customer satisfaction and loyalty. Together, these interconnected stages help businesses optimize efficiency, enhance value delivery, and achieve competitive advantage. Thus, the COVID-19 pandemic had a positive impact on the market.
COVID 19 Impact Analysis
Throughout the COVID-19 pandemic, the online art market grew rapidly. Most people used it for the first time. The lockdowns had shut down the galleries and auction houses all over the globe, online art opened new ways for art lovers and collectors. This shift moved online auctions to the buyers through the apps and websites. The pandemic helped online art sellers to reach a wider audience and bought new customers also.
End-user Outlook
Based on end-user, the online art market is characterized into domestic customers and foreign customers. The foreign customers segment procured 34% revenue share in the online art market in 2024. The foreign customers segment is very crucial for the market because it facilitates the art of reaching a wider audience and spreads out too many parts of the world. Due to the digital platforms and Non-Fungible Token (NFT) marketplaces. This makes selling and sells art online internationally.
Type Outlook
Based on type, the online art market is classified into text generation, image generation, audio generation, video generation, and others. The image generation segment recorded 18% revenue share in the online art market in 2024. The image generation part is very vital in the way people create visual art online. In current scenario, there are many smart tools that generate drawings, art pieces, and digital paintings by text prompts through using AI. These tools are used by many designers, advertisers, and creators to make original art fastly.
Regional Outlook
Region-wise, the online art market is analyzed across North America, Europe, Asia Pacific, and LAMEA. The North America segment recorded 37% largest revenue share in the online art market in 2024. Due to advanced digital systems, a big art investment culture, and a huge number of e-commerce users, North America has the largest market share of the online art market. The US is the major leader in digital art and consists of many collectors, galleries, and high usage of online methods used by artists to sell their product.
Recent Strategies Deployed in the Market
List of Key Companies Profiled
Global Online Art Market Report Segmentation
By End-user
By Type
By Geography