Research Methodology – Art Market
At Straits Research, we adopt a rigorous 360° research approach that integrates both primary and secondary research methodologies. This ensures accuracy, reliability, and actionable insights for stakeholders. Our methodology for the Art Market comprises the following key stages:
Market Indicator & Macro-Factor Analysis
Our baseline thesis for the Art Market is developed by integrating key market indicators and macroeconomic variables. These include:
1 Factors considered while calculating market size and share
- Number and volume of art transactions
- Overall price of artwork sold
- Current and potential customer base
- Market growth and trends in the art industry
- Value and volume of the secondary art market (auctions, resales, etc.)
- Market penetration of online art sales platforms
- Market size of related industries (like antique, luxury goods, and collectibles market)
- Regional differences in art consumption and collection
- Impact of economic, social, and political factors on art purchases
2 Key Market Indicators
- Annual revenue of key players in the art market
- Increase or decrease in the number of art transactions or auction activities
- Changes in the demographic and geographical distribution of customers
- Trends in the purchase and resale value of artworks
- Rate of digital transformation in the art market
- Legal issues and policies influencing the market (copyright issues, import/export regulations, etc.)
3 Growth Trends
- Shift towards online platforms for buying and selling art
- Emergence of new forms of art like NFTs or Digital art
- Increasing interest and participation of high-net-worth individuals and corporations in the art market
- Growth in emerging markets for art
- Influence of social media and influencers promoting artwork
- Application of emerging technologies like AI, VR, blockchain in art transactions or validations
- Implementation of innovative business models, like art leasing or fractional ownership
Secondary Research
Our secondary research forms the foundation of market understanding and scope definition. We collect and analyze information from multiple reliable sources to map the overall ecosystem of the Art Market. Key inputs include:
- Annual reports, investor presentations, SEC filings
- Company press releases and product launch announcements
- Public executive interviews and earnings calls
- Strategy briefings and M&A updates
- Country-level industry associations and trade bodies
- Government dossiers, policy frameworks, and official releases
- Whitepapers, working papers, and public R&D initiatives
- Relevant Associations for the Art Market
- Broker reports and financial analyst coverage
- Paid databases (Hoovers, Factiva, Refinitiv, Reuters, Statista, etc.)
- Import/export trade data and tariff databases
- Sector-specific journals, magazines, and news portals
- Global macroeconomic indicators and their cascading effect on the industry
- Demand–supply outlook and value chain analysis
- Consumer behaviour, adoption rates, and commercialization trends
Primary Research
To validate and enrich our secondary findings, we conduct extensive primary research with industry stakeholders across the value chain. This ensures we capture both qualitative insights and quantitative validation. Our primary research includes:
- Key Opinion Leader (KOL) Engagements
- Structured interviews with executives, product managers, and domain experts
- Paid and barter-based interviews across manufacturers, distributors, and end-users
- Discussions with stakeholders to validate demand-supply gaps
- Group discussions on emerging technologies, regulatory shifts, and adoption barriers
- Cross-verification of market sizing and forecasts with industry insiders
- Capturing business perspectives on growth opportunities and restraints
Data Triangulation & Forecasting
The final step of our research involves data triangulation ensuring accuracy through cross-verification of:
- Demand-side analysis (consumption patterns, adoption trends, customer spending)
- Supply-side analysis (production, capacity, distribution, and market availability)
- Macroeconomic & microeconomic impact factors
- Time-series analysis
- Regression and correlation studies
- Baseline modeling
- Expert validation at each stage
Outcome
The outcome is a comprehensive and validated market model that captures:
- Market sizing (historical, current, forecast)
- Growth drivers and restraints
- Opportunity mapping and investment hotspots
- Competitive positioning and strategic insights
Available for purchase with detailed segment data, forecasts, and regional insights.
Get This ReportOur Clients:
