About Fine Arts Logistics
Fine arts logistics includes transportation, packaging, storage, and import clearance of fine arts collectibles, such as arts, paintings, antiques, and sculptures. All artworks are stored in specialized humidity and temperature controlled warehouses, which are equipped with security web-enabled cameras and closed-circuit televisions. The total sales of the global fine arts logistics market accounted for more than $50 billion in 2016. The sales revenue of the global fine arts market was mainly contributed by art dealers, auction houses, galleries, and museums.
Technavio’s analysts forecast the global fine arts logistics market to grow at a CAGR of 3.17% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global fine arts logistics market for 2017-2021. The report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Fine Arts Logistics Market 2017-2021
Technavio recognizes the following companies as the key players in the global fine arts logistics market: Agility, DHL, DB Schenker, KUEHNE + NAGEL, and Rhenus Logistics.
Other Prominent Vendors in the market are: DMS Global Event Logistics, SITE EVENT LOGISTICS, Chaucer Logistics Group, SOS Global Express, EFI Logistics, Charles Kendall, ACME Global Logistics, and Senator International.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is Increasing fine arts auction house sales worldwide. Postwar-contemporary and modern art accounted for more than 50% of fine arts auction houses' sales worldwide in 2016. Countries, such as the US and the UK, have the most number of auction houses globally. Other fine arts products include works on paper and antiques, paintings, ancient art, and La haute joaillerie.”
According to the report, one of the major drivers for this market is Increasing e-commerce fine arts sales. In 2016, online art sales reached more than $3.5 billion and increased by more than 15% during 2015-2016, which represents more than 5% of the global fine arts market share. The global online fine arts market is expected to reach more than $9 billion by 2020. In addition, consumers are further popularizing the trend by actively turning to mobile Internet for purchasing pieces of fine arts. In 2016, more than 40% of fine arts visitor traffic and more than 20% of bids came through mobile devices. More than 30% of the buyers used tablets and laptops to place their orders.
Further, the report states that one of the major factors hindering the growth of this market is High operational cost and competitive pricing. With the surge in demand for specialized professional supply chain solutions and value-added services (VAS) in the global fine arts logistics market, the competitiveness in the fine arts logistics industry is increasing in terms of the pricing of services. Logistics service providers in the global fine arts logistics market are under constant pressure from customers, such as fine arts dealers, galleries, and museums, to keep the prices low. Due to the continuous variation in fuel prices, profits from fixed-term contracts with customers have reduced. As a result, fine arts logistics customers demand lower rates while renewing contracts.
Agility, DHL, DB Schenker, KUEHNE + NAGEL, Rhenus Logistics, DMS Global Event Logistics, SITE EVENT LOGISTICS, Chaucer Logistics Group, SOS Global Express, EFI Logistics, Charles Kendall, ACME Global Logistics, and Senator International.