Online Art Market Report
Updated: Apr 7, 2022
The Covid-19 pandemic has led to a massive shift in the art industry, both in how art is created and how we buy, share, and interact with it.
Travel restrictions around the globe have pushed many people to buy original art online. The emergence of digital art has also led to the availability of hand-drawn art for sale. The trend of buying digital art prints online of both animal drawing and portrait drawing has been on a constant rise.
The general trend across industries saw the increasing shift of business operations and transactions from brick and mortar stores to online marketplaces. Many artists, collectors, and enthusiasts are shifting online for the creation, sales, and promotion of arts.
The demand for art online has seen a potential transformation adapting to the growth in digitalization. These changes are here to last and have paved the way for further developments.
The museum community has become more popular on social networks, with numerous museums using the hashtag #museum from home to share art, films, information, and perspectives about their collections. Art shows have been compelled to use online alternatives to maintain social distance among their audiences.
Evolution of Art Through Technology
Multinational brands, tech giants, and institutions are pushing for art in today's digital era. Google Arts and Culture, for example, has successfully collaborated with many museums and art galleries globally.
This has enabled the organization to host virtual tours and online exhibitions. Potential buyers and art lovers are able to access collections worldwide from the comfort of their homes. Multiple museums have adapted to host digital archives, video tours, and performances via online streaming channels like YouTube, Twitch, and Tiktok.
Many gallery spaces and traditional art exhibitions have developed a range of interactive experiences to extending the physical viewing experience inside their venues to online viewers across the globe. The Metropolitan Museum of Arts has a series known as The Met 360°, a collection of videos that encapsulate the various physical art spaces.
Traditionally mostly big art galleries and auction houses had enticed customers, but now more and more smaller-scale auction sites and innovative online marketplaces have emerged as go-to options for customers to buy original art online.
With the introduction of NFTs, buying art online has become even more diversified. These options open up opportunities and exposure for artists of all levels, especially smaller and less well-known ones, and give everyone a chance to sell their work and provide people with more choices.
As people spend more time indoors due to the pandemic, the interest in starting an art collection or adding to an existing one has increased. More people buy art online to spruce up their personal and workspaces. This has created an environment that boosts creativity and makes homes more homely and personalized than ever before.
Role of social media and Digital Platforms
Artists and buyers have been more active than ever on social media today. They seek inspiration from various artists and creators on the web. Illustrations have quickly become a fusion of art and technology.
Illustrators are experimenting with digitizing and mixing various mediums with hand-drawn art. New technologies and creative ways to paint have emerged to make it easy for artists to create interactive experiences with their audience.
Growth of Digital Illustration
The growth of digital illustration has given birth to a realm of opportunities for artists, especially for photographers and videographers. The convenience and ease of drawing on laptops or tablets have become a huge advantage over setting up and carrying around a huge canvas and numerous paints and brushes.
The flexibility and variation of composition you can easily achieve with digital drawing have also become a huge appeal. Art lovers are beginning to look for a touch of personalization in what they buy. Illustrations have increasingly become personalized and customizable at scale with the possibilities of digital painting.
In the face of shifting social and economic environments, the online art market has evolved. More sales and transactions are taking place online where it is easier to find and invest in emerging artists. Collectors are gaining trust and adapting to the concept of buying art online. An internet presence is a must if you’re an artist. Don’t fall behind!