U.S. Online Art and Sculpture Market Size Worth USD 2.39 Billion By 2025

Hexa Research

SAN FRANCISCO, July 5, 2018 /PRNewswire/ --

The U.S. online art and sculpture market to reach USD 2.39 billion by 2025, owing to the rise in the number of online platforms, expansion of existing platforms and the growing use of internet for procurement purposes over the forecast period. These days customer prefer to buy art and sculptures online not only to save on the travelling costs and time but also on account of the easy return policies offered by various online platforms. There is a certain ease of discovery for the type of art customers are looking for and they don't have to wait for a long time to find what exactly they want, they can just search it online. The customers can find collectables and art online which otherwise they cannot discover in a particular gallery or selling space. With the improvement in return request policies, enhanced logistical and supply chain practices, reliable due diligence such as situation reports and licenses of authenticity, and growing transparency is expected to increase the online sales of art and sculptures all over the country.

The U.S. online art and sculpture market is expected to grow significantly owing to the rise in the use of the internet by the shoppers to bid on art auctions online. One of the major reasons is the low trade-weighted index, which is also the measure of the US dollar compared to other foreign currencies, and is anticipated to boost the demand for overseas art sales. The demand for art and sculptures has grown essentially on account of the rise in the awareness of importance to conserve art and major structural transformations which are mainly triggered by online buying and globalization. More and more people these days are interested in obtaining and purchasing artworks despite of high art prices which is expected to drive the growth for the online art and sculpture market. These days with the rise in transparency, the companies disclose all the information required by the customers for art pieces and sculpture such as past prices, artist reports, and the origin and nature of the art work which is increasing the buyers' confidence while buying art pieces in the online art market.