Museums, Historical Sites, Zoos, And Parks - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2020 - 2029

Museums, Historical Sites, Zoos, And Parks - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2020 - 2029

The Museums, Historical Sites, Zoos, And Parks Market size is estimated at USD 101.06 billion in 2024, and is expected to reach USD 133.09 billion by 2029, growing at a CAGR of 5.66% during the forecast period (2024-2029).

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.

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