Museums, Historical Sites, Zoos, And Parks Market Size
| Study Period | 2019-2028 |
| Market Size (2023) | USD 95.65 Billion |
| Market Size (2028) | USD 125.96 Billion |
| CAGR (2023 - 2028) | 5.66 % |
| Fastest Growing Market | Europe |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Museums, Historical Sites, Zoos, And Parks Market Analysis
The Museums, Historical Sites, Zoos, And Parks Market size is expected to grow from USD 95.65 billion in 2023 to USD 125.96 billion by 2028, at a CAGR of 5.66% during the forecast period (2023-2028).
A museum is a place where a lot of fascinating and priceless goods, like historical artifacts or pieces of art, are stored, researched, and shown to the public. Museums have been established for a variety of reasons, including to serve as leisure centers, academic hubs, or educational resources to improve the quality of life in the communities where they are located to draw tourists to an area, to foster civic pride or nationalistic endeavor or even to blatantly propagate ideological ideas.
An official location where relics of social, political, or military past have been preserved because of their cultural heritage significance is known as a historic site or heritage site. Most historic sites are legally protected, and many of them have the official national historic site designation. Any building, setting, location, or structure that is significant locally, regionally, or nationally qualifies as a historic site. This often means that the location must be at least 50 years old.
A zoo is a place that keeps a collection of wild animals, usually in a park or garden, for research, conservation, or public display, whereas a national park is a designated area set aside by the government for the preservation of the natural environment.
During the COVID-19 pandemic, museums, historical sites, zoos, and national parks, as public gathering places for citizens, faced unprecedented challenges due to limitations in operating their traditional exhibitions and curations as usual. As a result, museums, historical sites, zoos, and national parks made corresponding emergency efforts to accelerate the development of digital resources and service platforms. Such challenges raised numerous potential issues with the applicability of electronic resources, as well as a mismatch between user expectations and its services. Museums, historical sites, zoos, and national parks are trying to meet the moment by turning to digital offerings that allow “visitors” to explore collections online and to help keep some of the excitement of a field trip alive for kids, even if they can't leave the classroom. Over 14 months, the Grammy Museum produced 250 virtual programs.
Post Covid-19, the Museums, Historical Sites, Zoos, And Parks has seen a rise in the number of visitors due to the withdrawal of restrictions by the governments in their countries and globally, which is driving the growth of market. Digitalized Experiences of Museums, Historical Sites, galliers is helping the Market for the growth. Furthermore, the rise in the number of travellers globally is indirectly driving the growth of Market.
Museums, Historical Sites, Zoos, And Parks Market Trends
Digitalized Experiences is Driving the Market
Augmented Reality (AR) technology is being used by galleries, museums, and zoos to give visitors experiences in the actual world. The real-time integration of digital information with the environment of the user is known as augmented reality. With the creation of a visual tour guide and the presentation of 3D material from a real-world camera perspective, museums, and zoos are now employing augmented reality as a tool to educate and entertain the audience. For instance, the Cleveland Museum of Art uses augmented reality technology to allow visitors to interact with and obtain the most up-to-date and thorough information about each piece of art on display. The group employed augmented reality (AR) technology to bring a collection of architectural and sculptural remnants to life in the Acropolis Museum in Athens, Greece. Over 14 months, the Grammy Museum produced 250 virtual programs.
In museums and art galleries, prerecorded audio tours are frequently utilized in place of traditional guides to give tourists access to more in-depth, accurate information. Visitors are given audio guides with pre-recorded audio files in the selected language as well as multimedia content transmitters, such as headsets, earphones, or headphones. These audio guides serve as extra sources of income for event planners and are accessible at any time by a huge number of people. They are also available in many languages and translated versions. These audio tours for museums increase visitor interaction, increase accessibility, and offer more detailed information with the goal of educating visitors objectively. With over 8 million annual visits, the Louvre Museum in France has introduced audio guides that allow visitors to interact with information about the artwork. The British Museum in London, the San Francisco Museum of Modern Art, and the Auckland War Memorial Museum in New Zealand are other museums that provide visitors with taped audio guides. Thus leading to the growth in the market due to the digitalization.
Rise in the Number of Museums
The rise in the number of museums is driving the growth of the market. In Europe, Poland will celebrate the launch of the Warsaw Museum of Modern Art and the UK will see the completion of Manchester Museum‘s redevelopment project. Meanwhile, Paris will throw open the doors to Serge Gainsbourg‘s house. Across the pond, notable new venues in 2023 include the Buffalo AKG Art Museum and the International African American Museum in South Carolina. Plus, in Canada, the Toronto Holocaust Museum will open to the public.
In Asia, visitors will be able to discover the Robot and AI Museum and the Arte Museum, both in South Korea, and the new Museum of Art & Photography in Bengaluru, India.
In summer 2023 Young V&A will open its doors, after a project that has seen it be transformed from its former iteration as the V&A Museum of Childhood. This unique project took a co-creation approach, with several different groups of children and young people working alongside the museum team and the architects to create something that would engage the next generation of museum-goers. Buffalo AKG Art Museum – Buffalo, New York, USA, will open on 25 May 2023.
In February 2023, the Richard Gilder Center for Science, Education, and Innovation has officially become part of the famous American Museum of Natural History in New York City. Located on the Upper West side of the city’s Central Park, the site is already one of the most visited museums in North America.
Museums, Historical Sites, Zoos, And Parks Industry Overview
The market is expected to be Concentrated with the presence of a large number of players. Some of the major players present in the market are the Smithsonian Institution, Washington, D.C., The State Hermitage Museum, Krusger, the Zoological Garden of Berlin, The American Museum of Natural History, the National Museum of China, and the British Museum, among others. The market is expected to remain competitive over the forecasted period.
Museums, Historical Sites, Zoos, And Parks Market Leaders
Smithsonian Institution
Zoological Garden of Berlin
National Museum of China
American Museum of Natural History
State Hermitage Museum
*Disclaimer: Major Players sorted in no particular order
Museums, Historical Sites, Zoos, And Parks Market News
- In March 2023, Young V&A announced, it will open its doors in Bethnal Green on Saturday 1 July – in time for the summer holidays!, after a project that has seen it be transformed from its former iteration as the V&A Museum of Childhood.
- In March 2023, The Columbus Zoo and Aquarium and The Wilds, its wildlife conservation center, announced a capital spending program to stretch over the next 12 to 18 months. Projects include improvements to animal well-being, enhance guest experiences, and additional lodging. Approximately $32.5 million is set aside for the redevelopment of the North American region.
Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS AND INSIGHTS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Growing Popularity of Museums, Historical Sites, Zoos and Park is driving the Market Growth
4.2.2 Digitalized Experiences is Driving the Market
4.3 Market Restraints
4.3.1 Distinct institutional cultures and values
4.3.2 Adapting to the changes in technology is tough for the Institutions
4.4 Oppurtunties
4.4.1 Use of AI in the Museums, Historical Sites, Zoos, and Park
4.4.2 Packaged Tourism with different offers.
4.5 Value Chain Analysis
4.6 Industry Attractiveness - Porters' Five Forces Analysis
4.6.1 Threat of New Entrants
4.6.2 Bargaining Power of Buyers/Consumers
4.6.3 Bargaining Power of Suppliers
4.6.4 Threat of Substitutes
4.7 Insights of Technology Innovations in the Market
4.8 Impact of COVID-19 on the Market
5. MARKET SEGMENTATION
5.1 By Type
5.1.1 Museums
5.1.2 Historical Sites
5.1.3 Zoos And Botanical Gardens
5.1.4 Nature Parks
5.1.5 Other Similar Institutions
5.2 By Revenue Source
5.2.1 Tickets
5.2.2 Food And Beverages
5.2.3 Other Revenue Souces
5.3 By Geography
5.3.1 North America
5.3.2 Europe
5.3.3 Asia-Pacific
5.3.4 South America
5.3.5 Middle-East and Africa
6. COMPETITIVE LANDSCAPE
6.1 Market Concentration Overview
6.2 KEY COMPANY PLAYERS
6.2.1 Smithsonian Institution, Washington, D.C.
6.2.2 The State Hermitage Museum
6.2.3 The American Museum of Natural History
6.2.4 Krusger
6.2.5 Zoological Garden of Berlin
6.2.6 National Museum of China
6.2.7 British Museum
6.2.8 The Museum of Modern Art (MoMA)
6.2.9 Vatican Museums
6.2.10 Uffezi Galleries
6.2.11 Le Louvre
6.2.12 Metropolitan Museum of Art*
6.3 MARKET FUTURE TRENDS
6.4 DISCLAIMER AND ABOUT US
Museums, Historical Sites, Zoos, And Parks Industry Segmentation
A museum is a place where a great deal of one-of-a-kind and priceless goods, like historical artifacts or pieces of art, are maintained, examined, and presented to the general public. An official location where artifacts from social, political, or military history have been preserved for cultural heritage purposes is referred to as a historic site or heritage site. A zoo is a collection of wild animals kept in a park or garden for research, conservation, or public display, whereas a national park is a government-designated area set aside for environmental preservation. Museums, Historical Sites, Zoos, And Parks report will cover insights into the Museums, Historical Sites, Zoos, And Parks sector in the world, drivers, and restraints of the market. The report will also cover information on some of the major players active globally. Museums, Historical Sites, Zoos, And Parks are Segmented by Type (Museums, Historical Sites, Zoos & Botanical Gardens, Nature Parks, and Other Similar Institutions), by Revenue Source (Tickets, Food & Beverages, and Other Revenue Sources), and by Geography (North America, Europe, Asia-Pacific, Latin America, and Middle-East and Africa). The market sizes and forecasts are provided in terms of value (USD billion) for all the above segments.
| By Type | |
| Museums | |
| Historical Sites | |
| Zoos And Botanical Gardens | |
| Nature Parks | |
| Other Similar Institutions |
| By Revenue Source | |
| Tickets | |
| Food And Beverages | |
| Other Revenue Souces |
| By Geography | |
| North America | |
| Europe | |
| Asia-Pacific | |
| South America | |
| Middle-East and Africa |
Frequently Asked Questions
How big is the Museums, Historical Sites, Zoos, And Parks Market?
The Museums, Historical Sites, Zoos, And Parks Market size is expected to reach USD 95.65 billion in 2023 and grow at a CAGR of 5.66% to reach USD 125.96 billion by 2028.
What is the current Museums, Historical Sites, Zoos, And Parks Market size?
In 2023, the Museums, Historical Sites, Zoos, And Parks Market size is expected to reach USD 95.65 billion.
Who are the key players in Museums, Historical Sites, Zoos, And Parks Market?
Smithsonian Institution, Zoological Garden of Berlin, National Museum of China, American Museum of Natural History and State Hermitage Museum are the major companies operating in the Museums, Historical Sites, Zoos, And Parks Market.
Which is the fastest growing region in Museums, Historical Sites, Zoos, And Parks Market?
Europe is estimated to grow at the highest CAGR over the forecast period (20221-2028).
Which region has the biggest share in Museums, Historical Sites, Zoos, And Parks Market?
In 20221, the North America accounts for the largest market share in Museums, Historical Sites, Zoos, And Parks Market.
Museums, Historical Sites, Zoos, And Parks Industry Report
Statistics for the 2023 Museums, Historical Sites, Zoos, And Parks market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Museums, Historical Sites, Zoos, And Parks analysis includes a market forecast outlook to for 2023 to 2028 and historical overview. Get a sample of this industry analysis as a free report PDF download.
