Global Art Crowdfunding Market Size To Worth USD 4.8 Billion By 2033 | CAGR Of 11.47%

Global Art Crowdfunding Market Size To Worth USD 4.8 Billion By 2033

According to a research report published by Spherical Insights & Consulting, The Global Art Crowdfunding Market Size is to Grow from USD 1.62 Billion in 2023 to USD 4.8 Billion by 2033, at a Compound Annual Growth Rate (CAGR) of 11.47% during the projected period.

Browse key industry insights spread across 240 pages with 115 Market data tables and figures & charts from the report on the "Global Art Crowdfunding Market Size, Share, and COVID-19 Impact Analysis, By Fee Type (5% Fee, 4% Fee, 3% Fee, and Others), By Art Type (Visual Art, Performing Art, Literary Art, and Others), By Application (Films, Music, Stage Shows, Comics, Journalism, Publishing, Museums, Galleries, and Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033." Get Detailed Report Description Here: https://www.sphericalinsights.com/reports/art-crowdfunding-market

Art crowdfunding enables artists to raise funds to support their projects financially. It can help artists with expenses like rent, staff, musical production, food, and other needs, and it can serve as a marketing tool. The fundraising can be done via online and offline platforms. The widespread internet adoption and the rising active hours of social media have given artists the ability to reach a global audience. The desire to own and support unique art has led many backers to support diverse art projects. Market trends show a shift towards virtual art exhibitions and collaborative art displays, which attract a wider range of backers. The major factors driving the global art crowdfunding market include the widespread adoption of the internet and social media, as they can now access potential backers from around the world without relying on traditional fundraising methods. Also, the growing demand for unique, personalized, and authentic art experiences is boosting the market growth. However, some challenges are anticipated to restrain the market growth including the competition from other artists on these platforms and the uncertainties regarding project completion and delivery.

The 5% fee segment is anticipated to hold the greatest share of the global art crowdfunding market during the projected timeframe.

Based on fee type, the global art crowdfunding market is divided into 5% fee, 4% fee, 3% fee, and other types. Among these, the 5% fee segment is anticipated to hold the greatest share of the global art crowdfunding market during the projected timeframe. This is because it offers a good balance of affordability for artists and sustainability for the platforms. it provides artists with a high payout rate and enables platforms to offer good support services, such as marketing tools, analytics, and customer support.

The visual art segment is anticipated to hold the greatest share of the global art crowdfunding market during the projected timeframe.

Based on the art type, the global art crowdfunding market is divided into visual art, performing art, literary art, and other art types. Among these, the visual art segment is anticipated to hold the greatest share of the global art crowdfunding market during the projected timeframe. The growth of visual art is due to its broad appeal and easily shareable nature, making it suitable for online platforms. The visual nature of these artworks makes them ideal for digital marketing. These kinds of projects have tangible rewards that can encourage higher contributions.

The films segment is anticipated to grow at the fastest pace in the global art crowdfunding market during the projected timeframe.

Based on application, the global art crowdfunding market is divided into films, music, stage shows, comics, journalism, publishing, museums, galleries, and others. Among these, the films segment is anticipated to grow at the fastest pace in the global art crowdfunding market during the projected timeframe. The growing popularity of independent filmmaking and access to crowdfunding is boosting this segment's growth. Additionally, due to the rise of streaming services and online film distribution, film projects have a high reach, visibility, and interactive nature.

North America is anticipated to hold the largest share of the global art crowdfunding market over the forecast period.

North America is anticipated to hold the largest share of the global art crowdfunding market over the predicted timeframe. The North American region’s market is driven by increasing demand for digital fundraising solutions the popularity of art crowdfunding, the well-established digital infrastructure, and widespread availability of high-speed internet. Additionally, North America has several leading crowdfunding platforms, numerous artists, and a supportive environment for projects.

Asia Pacific is expected to grow at the fastest pace in the global art crowdfunding market during the forecast period. This is mainly due to the developing digital infrastructure and penetration of high-speed internet. Additionally, the region has a growing population of Gen-Z with high disposable income. This young population is ready to invest in art projects according to their likes.

Major vendors in the Global Art Crowdfunding Market include WhyDonate, UFANDAO, Voordekunst, HelloAsso, Verkami, KissKissBankBank, Lendopolis, Goodeed, and microDON, Crowdbound, 4fund.com, Dartagnans, Kanvas.ai, and Others.

Recent Developments

• In August 2024, the Indiana Housing and Community Development Authority launched a crowdfunding campaign to raise money for two new public art projects in Broad Ripple.

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Market Segment

This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the Global Art Crowdfunding Market based on the below-mentioned segments:

Global Art Crowdfunding Market, By Fee Type

• 5% Fee
• 4% Fee
• 3% Fee
• Others

Global Art Crowdfunding Market, By Art Type

• Visual Art
• Performing Art
• Literary Art
• Others

Global Art Crowdfunding Market, By Application

• Films
• Music
• Stage Shows
• Comics
• Journalism
• Publishing
• Museums
• Galleries
• Others

Global Art Crowdfunding Market, Regional

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of the Middle East & Africa

About the Spherical Insights & Consulting

Spherical Insights & Consulting is a market research and consulting firm which provides actionable market research study, quantitative forecasting and trends analysis provides forward-looking insight especially designed for decision makers and aids ROI.

Which is catering to different industry such as financial sectors, industrial sectors, government organizations, universities, non-profits and corporations. The company's mission is to work with businesses to achieve business objectives and maintain strategic improvements. 

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