Digital Art Market Size, Share, Analysis, Trends, Growth, Forecasts, 2032

Digital Art Industry Prospective:

The global digital art market size was worth around USD 12.04 billion in 2023 and is predicted to grow to around USD 39.40 billion by 2032 with a compound annual growth rate (CAGR) of roughly 14.08% between 2024 and 2032.

Request Free Sample

Digital Art Market: Overview

Digital art is created using modern digital technology. The novel engineering forms an integral part of the creative process. Digital art is different from traditionally known handmade art since the former relies completely on digital solutions such as software, programs, applications, and smart devices for creation purposes. It consists of a wide range of digital paintings, drawings, videos, photos, and other forms of artwork. These final products are enhanced and exhibited using digital solutions. The demand for digital arts has grown over the years, driven by a surge in consumer awareness.

Moreover, the introduction of new tools enabling the creation of majestic digital art, especially in video and image formats has helped the digital art industry thrive over the years. During the projection period, the market is expected to gain higher growth momentum led by the increasing use of novel digital arts in the clothing and accessory industry along with investments in 3D art forms. However, the cost of applications facilitating the creation of digital art could prevent the industry from growing.

Key Insights:

• As per the analysis shared by our research analyst, the global digital art market is estimated to grow annually at a CAGR of around 14.08% over the forecast period (2024-2032)
• In terms of revenue, the global digital art market size was valued at around USD 12.04 billion in 2023 and is projected to reach USD 39.40 billion by 2032.
• The digital art market is projected to grow at a significant rate due to the growing demand for digital art in video formats.
• Based on the distribution channel, the traditional digital art platforms segment is growing at a high rate and will continue to dominate the global market as per industry projection
• Based on the types of digital art, the 2D/3D digital art segment is anticipated to command the largest market share.
• Based on region, North America is projected to dominate the global market during the forecast period.

Digital Art Market: Growth Drivers

Growing demand for digital arts in video formats will drive the market demand rate

The global digital art market is expected to grow due to the rising demand for electronic art in video format. It deals with the creation of art using moving images in a cohesive format with the goal of delivering a final message in the form of entertainment. Video-based digital arts include animated art pieces, short films, and other forms of entertaining content. The industry gained extensive growth momentum with the emergence and growth of social media platforms.

For instance, the introduction of entertainment-based social media applications such as YouTube, TikTok, and others has helped a niche market for digital arts. The industry is expected to thrive due to the growing number of user base on these platforms.

As of July 2024, the TikTok platform had more than 1.01 billion users globally. The increasing sale of consumer electronics and the availability of affordable Internet are some of the leading propellers of increased consumption of video-based digital content on smart consumer electronics.

Increasing launch of new electronic art platforms will encourage more people to enter the industry

In recent times, the number of platforms allowing the creation and display of digital art has grown at a rapid pace. This has allowed more artists to leverage the digital solutions to showcase their creativity.

For instance, in July 2024, the founder of We Are Museums, Diane Drubay, announced the expected launch of Blueshift. It is a digital art platform working toward generating awareness of climate by selling environmentally-inclined art solutions.

In October 2024, Skoshart.com, an emerging player operating in the global digital art market, was officially launched, providing a unique platform to creative minds, allowing them to showcase their talent. The platform has an intuitive user interface and is equipped with sophisticated technology while also delivering an inclusive platform for creative professionals and amateurs.

Digital Art Market: Restraints

High cost of applications enabling digital arts will limit the market’s expansion trend

The global industry for digital art is expected to be restricted due to the high cost of programs and applications that allow the creation of electronic art. The basic package of most platforms used to create digital art is free of charge. However, the cost increases when a user moves to a more advanced version.

For instance, Adobe, a popular platform used for creating 2-dimensional and 3-dimensional digital art, offers a subscription-based model. The average monthly subscription price of the tool is over USD 80 per month. Similarly, other platforms charge high prices for services. Creative artists with limited income may find it difficult to enter the space, thus limiting the industry’s overall reach.

Digital Art Market: Opportunities

Non-fungible tokens (NFTs) are expected to completely revolutionize the industry presence during the projection period

The global digital art market has benefited greatly from the introduction of non-fungible tokens (NFTs) and associated marketplace. NFTs are defined as assets such as digital content and artwork. They are tokenized by leveraging the blockchain technology. One of the most prominent features of NFTs include their non-fungible attribute which means that all NFTs are unique and cannot be interchanged.

Hence, NFTs are considered a promising way of owning an art form, especially rare items. In the last few years, non-fungible tokens have been widely popular due to increased commercial awareness.

Moreover, they allow transparent selling and reselling of art products, especially digitally created models. In October 2021, Sotheby, a leading fine arts company, announced the launch of Sotheby’s Metaverse. It is the company’s platform designed for digital collectors as the tool will offer a specially curated selection of nonfungible tokens selected by experts of the company.

Similarly, Ethereum, a globally popular open-source blockchain platform, launched a digital marketplace called SuperRare, housing exclusive tokenized digital art forms.

Digital Art Market: Challenges

Concerns over intellectual property (IP) theft will challenge the market expansion trend

The global digital art industry is expected to be challenged by growing concerns over intellectual property (IP) theft. The unclear regulatory boundaries surrounding NFTs pose a significant threat to the IP rights of digital art owners. In addition, the industry faces tough competition from the popularity of traditional handmade arts which continues to enjoy a hold over a majority of the global arts industry.

Digital Art Market: Segmentation

The global digital art market is segmented based on distribution channel, type of digital art, and region.

Based on the distribution channel, the global market divisions are traditional digital art platforms and non-fungible(NFT) marketplace. In 2023, the highest growth was observed in the traditional digital art platforms segment, which was led by higher penetration of the applications and the solutions.

On the other hand, the NFT marketplace segment is expected to dominate the industry by the end of the forecast period. Although NFT marketplaces are on the rise, the lack of access to ancillary infrastructure along with limited awareness and technology complexity are impacting the segmental revenue. In 2023, the global NFT industry was valued at more than USD 25 billion.

Based on the types of digital art, the digital art industry segments are 2D/3D digital art and generative art. In 2023, the highest growth was witnessed in the 2D/3D digital art segment, fueled by the increasing use of technology to develop several forms of electronic art. The rising demand for video-based entertainment content, including video games, is fueling the segmental growth rate.

During the forecast period, the generative art segment is expected to generate higher revenue, especially influenced by the penetration of the NFT technology. The price range of non-fungible token generative art can reach USD 100,000, depending on the brand of the artist.

Digital Art Market: Report Scope

Digital Art Market: Regional Analysis

North America is to continue witnessing a higher growth rate during the projection period

The global digital art market will be led by North America during the forecast period. The US is expected to emerge as the highest revenue-generator, led by the presence of a robust and growing digital art industry. In a recent event, the US-located Museum of Modern Art (MoMA) announced the Fall 2023–Winter 2024 exhibitions, acquisitions, and art partnerships.

The theme for the innovative slate of art-based events revolved around machine and human intelligence along with the impact of using technology to shape digital and real worlds. Europe is a growing market for digital art. The presence of a rich art-based culture across several European nations acts as a strong foundation for the emergence of digital art solutions.

Moreover, the growing adoption of NFT marketplaces will further help the region thrive during the projection period. In October 2023, the London-based House of Fine Art (HOFA) Gallery announced the launch of a new digital art exhibition in association with Phillips. The initiative represented works such as AI and telekinetic robotic arms, thus encouraging regional players to participate in the digital art industry.

Digital Art Market: Competitive Analysis

The global digital art market is led by players like:

• Adobe
• Blender Foundation
• Autodesk
• SideFX (Houdini)
• Wacom
• Maxon (Cinema 4D)
• Corel Corporation
• Quixel
• ArtStation
• Epic Games (Unreal Engine)
• Procreate
• Unity Technologies
• Sketchfab
• Pixologic (ZBrush) Foundry

The global digital art market is segmented as follows:

By Distribution Channel

• Traditional Digital Art Platforms
• Non-Fungible Tokens (NFT) Marketplace

By Type of Digital Art

• 2D/3D Digital Art
• Generative Art

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France 
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa