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Market analysis of museums in India

Release date 13.01.2021

Number of pages 61

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The relevance of research

The museum is an institution engaged in the collection, study, storage and display of objects - monuments of natural history, material and spiritual culture, as well as educational and popularization activities.

Purpose of the study

Analysis of the state of the museum market, assessment of the market size, analysis of competitors, as well as identification of factors affecting the museum market

Content

Part 1. Overview of the Indian Museum Market

1.1. Definition and Characteristics of the Indian Museum Market
1.2. Dynamics of the volume of the Indian museum market, 2015-2019
1.3. Market structure by type of service provided in India
1.4. Museum Market Structure by Union Territories
1.5. Assessment of current trends and development prospects of the studied market
1.6. Assessment of factors affecting the market
1.7. Analysis of sectoral indicators of financial and economic activity

Part 2. Competitive analysis in the museum market in India

2.1. Major players in the market
2.2. Market shares of the largest competitors
2.3. Profiles of major players

Part 3. Museum consumption analysis

3.1. Estimated per capita consumption of museums
3.2. Market Saturation and Estimated Market Potential in India
3.3. Description of consumer preferences
3.4. Price analysis

Part 4. Assessment of factors of investment attractiveness of the market

Part 5. Forecast for the development of the museum market until 2024

Part 6. Conclusions on the prospects of creating enterprises in the study area and recommendations for current market operators

Research excerpt

Part 1. Overview of the Indian Museum Market

1.1. Definition and Characteristics of the Indian Museum Market

Consider the characteristics and features of the Indian museum market.

The museum market in this study is understood as a set of institutions that provide permanent exhibition services, organize and hold exhibitions, excursion services, etc., form the market offer, the number of users of the above services and form the market demand, as well as the relationship that arises between sellers and consumers of services. museums in India.

Museum services include:
organization of permanent exposition services;
organization and holding of exhibitions;
lecture and excursion services;
reference, information and advertising and marketing services;
organizing the work of lecture halls, schools and courses in various fields of knowledge and other forms of educational activities;
holding cultural events of various themes and forms;
provision of other types of leisure and services in the field of culture and related industries.

Museums can conditionally be classified according to the profile of their activities (that is, their specialization). According to this feature, art museums can be distinguished; park complexes, landscape, historical and architectural museums, kremlins; local history museums; literary and memorial museums, estate museums; thematic museums (military-historical, natural-science, scientific-technical, ethnographic).

The museum market in India is characterized by the following features:
In the course of the transformation of society, there was a decrease in the importance of the core values that Indian museums brought to society: the uniqueness of content (due to the increase in the freedom of movement of citizens around the world and, as a result, the emergence of new opportunities for acquaintance with cultural and historical values); the educational role of the museum (due to the rapid development of digital technologies, which have provided many new opportunities for self-education); the role of the museum as a cultural event (since the overload of a modern person with information flows leads to a more frequent rejection of intellectually complex forms of spending free time, such as going to a museum, and the preference for more popular formats of acquaintance with works of art); the role of the museum as a leisure activity (due to the emergence of many new forms of leisure, including cultural, against which the museum is perceived as “boring”, “outdated”).

The studied market is characterized by the problem of constant underfunding, especially of regional and municipal museums, there is a ""gap"" between large world-class museums and small museums.

Among the features of the Indian museum market is the presence of personnel problems. In particular, Indian museums experience the greatest need for specialists - both in auxiliary activities (including in the field of advertising, marketing, PR, SMM, IT technologies), and in the main activity (specialists in exhibition and exposition activities, researchers, guardians). Moreover, one of the most significant barriers to the development of museums related to the personnel issue, according to experts, is the lack of managerial competencies and strategic vision among museum managers, their lack of understanding of the principles of project management.

The compactness of the placement of industry institutions within each federal district is not uniform and uniform.
...

From the point of view of operators, the museum market is represented by state budgetary cultural institutions, municipal budgetary cultural institutions, private institutions and autonomous non-profit organizations.

In today's market, museum services are integrated and can be presented in various forms (individual, mass, interactive, chamber, etc.).

At present, the level of demand for museum services, for the most part, often does not correspond to either the potential demand of consumers or the capabilities of the museum institutions themselves. This situation is due, first of all, to socio-economic factors, such as the low income level of most citizens, the lack of free time and lifestyle, high employment, the availability of alternative ways of spending leisure time, etc.

The studied market is characterized by profound changes caused by the active introduction of information technologies, including the processes of digitalization of the industry, innovative museum practices, and new methods of using humanitarian resources.

In modern conditions, the basis of modern museum communications is a participatory approach, the transition from passive perception of information by the audience to its active participation in the activities of the museum. Among the current trends in the interaction between the audience and the museum, the following can be distinguished. Firstly, the active use of modern communication technologies from museum sites and pages on social networks to special mobile applications. Secondly, when designing the space, a respectful attitude towards history is preserved. Thirdly, the transition from the museum's communication with the audience from the position of ""you"" to ""you"". Museums are becoming more accessible to the audience: the transition from elitism to mass character, which indicates a change in the language of communication, its adaptation to the general public. Fourth, attracting the attention of the audience with the help of intrigue: various creative solutions in the presentation of material in the museum. Fifthly, a reminder to museum workers that, first of all, a museum is an exposition, the purpose of a museum is not to create a beautiful space, but to convey knowledge about the exhibits to the audience.

The museum market in India among market operators is characterized by a low level of concentration (a large number of operators with small market shares).

1.2. Dynamics of the volume of the Indian museum market, 2015-2019

Consider the volume dynamics of the Indian museum market. According to GidMarket’s calculations based on data from the Ministry of Culture of India and data from The Art Newspaper Russia, the volume of the museum market in India in 2019 amounted to ... million visits, including visitors to permanent exhibitions and temporary exhibitions (including as part of excursions) , as well as participants in cultural and educational programs and public events...

Diagram 2. Dynamics of the volume of the Indian museum market, 2015-2019, million visits

1.3. Market structure by type of service provided in India

The structure of the museum market by types in India is presented by categories of museums, based on their focus and subject, profile of activity.
...

1.4. Museum Market Structure by Union Territories

The structure of the provision of museum services (in physical terms) by federal districts shows that the leading position is occupied by the Central Union Territories with a market share of ...%, ...
...

Diagram 5. The structure of the provision of museum services in India by Union Territories, 2019, % of the market volume in physical terms

1.5. Assessment of current trends and development prospects of the studied market

Key trends in the museum market in India include:

The main vectors for the development of the studied market are: the introduction of interactive forms of work and, as a result, the growth in the importance of the figurative-emotional and leisure components of working with the visitor; entry of museums into new promising markets: information, cultural tourism, recreation, etc.; the emergence of new technologies, mechanisms and organizational forms that make it possible to ensure the safety of museum objects and collections while expanding their accessibility to visitors.

An important trend in the activity of a modern museum is the creation of special near-museum and in-museum structures. Centers of museum pedagogy, centers of traditional culture, centers of public life, clubs, and societies are being created inside museums and together with them in cities and regions. The change in the interaction between the museum and the society is also manifested in the delegation of some of the functions of managing museums to various associations, foundations, public and private organizations.

The result of the search and development of new forms of interaction between the museum and society is the emergence and activity of eco-museums. They are created primarily for the local community and, as a rule, by the forces of the local community. The resource for the development of eco-museums is the social energy of the inhabitants of a particular local area and their interest in preserving the unique specifics of the area.

At present, there is a tendency to reduce funding for museums of the Ministry of Culture of India, the state is pushing museums to look for new sources of funds. The main areas of spending subsidies from the budget are the remuneration of employees of the museum, the presentation, study and preservation of collections. In turn, museums organize exhibitions at the expense of the profits received. This circumstance forces institutions to look for ways to improve management efficiency and develop a marketing strategy.

The role of paid services is growing, they are increasingly an important part of the activities of a modern museum operating in a market environment. These include paying for a ticket or visiting an exhibition, commercial services such as the operation of buffets and cafes inside or on the basis of the museum, the operation of special workshops for visitors, the sale of souvenirs, the holding of various events - receptions, meetings, concerts, performances, the development of educational programs , quests, etc.

Among the trends in the development of the museum market caused by the coronavirus pandemic, which forced museums to reconsider their work in 2020, one can single out: a large amount of scientific research done, the continuation of construction work in those museums where reconstruction is being done or new buildings are being built, the creation of many online programs. In general, the global quarantine has forced museums to rapidly transfer work online and switch to “content production” — uploading materials for exhibitions, broadcasting on Instagram, recording YouTube lectures.

Among the prospects of the analyzed market are:
...

In general, the prospects for the development of the museum market in India lie in the plane of expanding access to cultural property, including through the informatization of the industry; strengthening the material, technical and resource base of state museums as centers for the preservation of unique samples of Indian and world culture; improvement of permanent expositions; activation of enlightenment and educational activities; increasing the number of exhibition projects carried out both in the states of India and abroad; implementation of mobile exhibition projects in small and medium-sized cities; development of cooperation between museums and creative industries; integration of museums into the system of cultural and educational tourism; implementation of effective management policy.

1.6. Assessment of factors affecting the market

Below are the main factors affecting the museum market and, accordingly, the demand and income of market operators.

Economic

Dynamics of India's GDP
The dynamics of India's GDP is an indicator of the country's economic development. GDP has an impact on the development of all sectors and markets of the economy, as well as the level of effective demand of the population.
...

The share of services of cultural institutions in the structure of paid services to the population of India
...

Average consumer prices for museum visits in India
...

General Fund of Museums of the Ministry of Culture of India
...

Social factors

Population of India
...

Real money income of the population of India
...

Consumer Confidence Index
...

The number of employees of the museums of the Ministry of Culture of India
...

Number of exhibition projects carried out in India

During 2015-2019 there is a favorable trend of growth in the number of exhibition projects carried out in India. The maximum number of exhibition projects falls on 2018, while their largest increase is observed in 2017 in relation to 2016.

Level of urbanization
During 2014-2019 there is an increase in the level of urbanization - the number of urban residents is increasing, while since 2015 the population of rural settlements has been decreasing.
...

Technological factors

Innovative technologies are becoming more and more widespread in the museum market.

Industry digitalization trend
The digitalization trend has also affected the museum industry. In particular, Indian museums are using or implementing virtual/augmented reality technologies, audio guides, virtual assistants and museum navigation. As a tool for the digitalization of museum processes, most museums are already using artificial intelligence technologies, implementing VR / AR to solve various kinds of problems, and using multimedia solutions. In addition, modern museums actively interact with the audience remotely - they provide an opportunity to purchase tickets online, use a virtual guide, support a loyalty program, and implement an online store where visitors can purchase souvenirs, catalogs, books, and additional services. In addition, museums have an active social media presence, email newsletters and regular research on their audiences.

Technology driven by the coronavirus pandemic
..

Activities of the Union of Museums of India
The Museums Union of India is an active participant in the public discussion of all legislative and regulatory acts, one way or another related to the activities of museums in India, represents the interests of the country's museums in councils and commissions formed under the President of India and the Government of India, intensively and fruitfully interacts with the leadership of the regions, in which museums-members of the Union work.

The main objectives of the Union of Museums of India are to promote the quality of professional activities of its members in the preservation and study of the Museum Fund of India, as the basis for the formation of the historical memory of the individual and society, the development of intercultural dialogue and intergenerational communications.

The Union of Museums of India in its activities directly interacts with the State Duma and the Federation Council of the Federal Assembly of India, the Civic Chamber of India, foundations, public organizations and associations operating in the field of cultural heritage, museum work, spiritual and historical and cultural enlightenment, humanitarian education.

Political and legal factors

Normative-legal provisions and acts in the field of museum activities that impede their work. In particular, according to the results of a comprehensive sociological study conducted by the Ministry of Culture of India in 2019, about 11 federal laws were noted, which, according to experts, to one degree or another hinder the implementation of museum activities (No. 44-FZ, No. 327-FZ, No. 223-FZ, No. 54-FZ (lack of a complete list of by-laws), No. 73-FZ, No. 193-FZ, No. 4804-1, No. 5351-1, No. 436-FZ, No. 290-FZ and No. 38- Federal Law, as well as the Order of the Ministry of Culture of India dated 01.12.2017 No. 2012, the Government of India Decree No. 1177 and the Regulations on the State Catalog of the Museum Fund of India). The main claims to the current laws were their complexity and intricacy, associated with voluminous reporting on all types of museum work and each event held by it, and inconsistency with the principles of design work. The leading position in the list of ""unfriendly laws"" is occupied by the law ""On the contract system in the field of procurement of goods, works, services to meet state and municipal needs"" No. 44-FZ (with amendments and additions, entered into force on 31.07.2019/ / ), which experts characterized as ""a dead and heavy law.""

State programs and projects aimed at the development of museum activities. These programs include:
The federal project ""Creative People"", whose tasks and results include the creation of conditions for strengthening civic identity based on the spiritual, moral and cultural values of the peoples of India. In particular, until 01.12.2024/31.12.2021/24, a calendar of quantitative exhibition projects of federal and regional museums in the states of India has been developed: as of 31.12.2022/32/31.12.2023 - 40 units; as of December 31.12.2024, 48 - units; as of December , - units; as of December , - units.
The federal project ""Digital Culture"", whose tasks and results include the creation of virtual concert halls in at least 500 cities in India; ensuring the widespread introduction of digital technologies in the cultural space of the country, including the activities of museums. In particular, by December 01.12.2024, 450, at least units of multimedia guides for expositions and exhibition projects should be created, when visiting which it is possible to obtain information about works using augmented reality technology.

State Cultural Policy Strategy for the period up to 2030, approved by the Order of the Government of India dated February 29.02.2016, 326 No. 1,4-r. In accordance with this strategy, the expected results will be: an increase in funding for culture from all sources up to 2030% of GDP by 90,0; an increase in the proportion of federally owned cultural and art institutions whose condition is satisfactory to % of the total number of federally owned cultural and art institutions; creation of an effective mechanism for attracting private investments into culture, including within the framework of public-private partnership; creation of an effective and resource-provided system for the preservation of cultural heritage objects, which allows to constantly reduce the proportion of monuments that are in an unsatisfactory or ruined condition, etc.

State Program of India ""Development of Culture and Tourism (2013-2020)"". In accordance with this program, the expected results will be: an increase in the efficiency of the system for the preservation of cultural heritage objects, which makes it possible to ensure a high level of preservation and efficiency in the use of cultural heritage objects; high level of quality and accessibility of library and museum services; ensuring the safety and efficiency of the use of library and museum funds; increase by 2024 the average number of exhibitions to 8 units per 10 thousand people, etc.

The instability of the political situation against the backdrop of developments on a global scale, anti-Indian sanctions, a change of government, amendments to the Constitution hinders investment processes. The tense political situation in interstate relations has a negative impact on all spheres of the Indian economy.

We combine all the factors discussed above in the form of a STEP analysis.

Table 2. STEP analysis of factors affecting the museum market

According to the results of the STEP analysis, the factors of the macro environment in 2015-2019 had a positive impact on the museum market. Three of the groups of factors under consideration had a multi-vector influence on the development of the market. One group of factors had a unidirectional effect.
...

1.7. Analysis of sectoral indicators of financial and economic activity

During 2015-2019 The gross margins of the museum industry were below those of the Indian economy as a whole.

Table 3. Gross margin of the museum industry compared to all sectors of the Indian economy, 2015-2019, %

At the same time, profitability before tax in the Indian museum industry is significantly higher than similar indicators for all industries in India in 2015-2019. In addition, during the analyzed period from 2015-2019. profitability indicators tend to increase.
...

A more stringent liquidity criterion is the absolute liquidity ratio. It shows what part of short-term liabilities can be repaid immediately, if necessary, at the expense of available cash and marketable securities. For Indian companies, the normative value of the absolute liquidity ratio is within Kal > 0.2-0.5. This value of the absolute liquidity ratio means that from 20-50% of short-term liabilities can be repaid by the company immediately at the expense of cash. In the museum industry in 2015-2018 the absolute liquidity ratio is higher than the normative one, which may signal an excessively high share of non-performing assets. At the same time, the values of the indicator were quite stable throughout 2015-2019, without pronounced fluctuations, with the exception of 2018, and significantly higher than similar indicators for all sectors of the Indian economy.
...

In general, the analysis of the financial ratios of the museum industry in India shows fairly high gross margin and profit margin before tax (and increasing), which may indicate that the growth rate of revenue in the analyzed industry outpaces the growth rate of costs (or revenue is growing). against the backdrop of lower costs).

Part 2. Competitive analysis in the museum market in India

2.1. Major players in the market

The museum market in India is characterized by a low level of concentration (a large number of operators with low market shares, the Herfindahl-Hirschman index is HHI=61, HHI < 1000 - a low-concentration market).

Based on the considered structure of the museum market by type, presented in diagram 4 p. 1.3. of this study, the most visited museums in 2019 were two categories of museums: park complexes, landscape, historical and architectural museums, kremlin and art museums. Their total share in the studied market structure is about ...%. In this connection, the largest market players (TOP-5) in each of these two categories will be considered in the competitive analysis.

The largest operators of the museum market in the category of park complexes, landscape, historical and architectural museums, the Kremlin include the State Museum-Reserve ""Peterhof"", the State Museum-Monument ""St. Isaac's Cathedral"",

...

2.2. Market shares of the largest competitors

Let us determine the shares of the largest competitors in the museum market in India. There are a large number of operators in the Indian museum market, including state budget cultural institutions, municipal budget cultural institutions, private institutions and autonomous non-profit organizations. According to the information of the Open Data Portal of the Ministry of Culture of India, section ""Statistics"", the number of operators in the studied market is over 2800 (more precisely - 2861). The market is low-concentrated, the shares of individual market players are insignificant.

As a basis for calculating the shares of the largest museum market operators, data on the attendance of each museum to the total market volume in physical terms were taken. The source of data for the calculation was the Open Data Portal of the Ministry of Culture of India, the ""Statistics"" section, as well as the annual ratings of museum attendance published on the website of The Art Newspaper Russia newspaper.

According to GidMarket, the market leader in museums in India is the State Museum-Reserve ...

2.3. Profiles of major players

...

The State Hermitage Museum
The State Hermitage is a museum of fine and decorative arts, located in the city. The second largest art museum in the world. The main museum complex includes six interconnected buildings - the Winter Palace, the Spare House of the Winter Palace, the Small Hermitage, the Large (Old) Hermitage, the New Hermitage and the Hermitage Theatre. They have 365 halls open to the public. Also at the disposal of the museum are the General Headquarters, the Museum of the Imperial Porcelain Factory, the restoration and storage center ""Staraya Derevnya"" and the Menshikov Palace.

State Museum-Monument ""...""
...

State Artistic and Architectural Palace and Park Museum-Reserve ""...""
...

State Historical, Architectural and Art Museum-Reserve ""...""

...

State Indian Museum
...

According to GidMarket, the total attendance of the TOP-10 largest operators of the Indian museum market in 2019 amounted to ...
...

Diagram 21. Dynamics of cumulative attendance of the largest museum market operators (TOP-10) in India, 2015-2019, million visits

Part 3. Museum consumption analysis

3.1. Estimated per capita consumption of museums

The per capita consumption of museums in India was estimated by GidMarket on the basis of the ratio of the volume of the Indian museum market in physical and value terms to the population of India.

At the same time, the main factors of influence include: the development of domestic tourism; an increase in the number of exhibition projects and projects outside the walls of museums; full-scale PR campaigns in each exhibition and active promotion of exhibitions; convenient work schedule for clients; online ticket sales; loyalty card discount system; audio guides and mobile applications; cultivating the principle of ""the whole day in the museum with the whole family""; special rates for tour operators; development of educational programs; increasing the number of partnership projects with theaters and other cultural states; implementation of the federal project ""Digital Culture"", aimed at ensuring and widespread introduction of digital technologies in the cultural space of the country.

3.2. Market Saturation and Estimated Market Potential in India

The market potential of museums in India is estimated by GidMarket specialists to be no less than ""plus ...%"" to the existing market volume in real terms.
...

Achieving the potential of the market and its qualitative development is constrained by the low level of real incomes of the population; underfunding of the industry, especially among regional and municipal museums; the imperfection of the regulatory framework for regulating this industry, the presence of legislative barriers that impede the implementation of museum activities; the presence of personnel problems, in particular, the lack of specialists in the main type of activity (exhibition and exposition activities, researchers, curators) and auxiliary (specialists in the field of advertising, marketing, PR, SMM, IT technologies), the presence of ""barriers of consciousness"" of museum managers manifested in the lack of managerial competencies and strategic vision, lack of project work skills and understanding of the principles of project management; the lack of a built-in system of communication with public authorities and a built-in system of communication between museums, the desire to compete with each other for a trained visitor; the limited capacity of museums, that is, the exhaustion of the allowable anthropogenic load; the presence in the minds of visitors of the ""phantom of the past"", when ""the museum was perceived as a place where you can go once and forget, because the same exhibition hangs for decades""; lack of budget for museums to conduct advertising campaigns, etc. Taking into account the fact that a qualitative change in the factors hindering the growth of the market is not possible in the short term, it is not planned to achieve the potential capacity of the museum market in the coming years.

An increase in the level of reaching the potential market capacity is possible due to the constant implementation of projects (exhibitions, conferences, lectures, promotions, etc.) both inside and outside museums; development of interaction between museums and travel companies, further integration of museums into the system of cultural tourism; stimulating the activity of museums in the field of educational activities and in the market of leisure services; introduction of modern technologies and practices in all areas of museum activities; building an effective system for organizing museum activities; increasing the attractiveness and comfort of museums for visitors; strengthening the material and technical base of museums; improving the mechanism of staffing the industry and the professionalization of museum activities; active inclusion of museums in the socio-economic development of the regions; improvement of the regulatory framework of museum activities; development of international activities of museums, including in the space of the Commonwealth of Independent States (CIS); creation of international digital resources and multilingual information support of the exposition; establishing interaction with private museums and considering the possibility of state support for these museums, developing mechanisms for public-private partnerships; determining the requirements for the scientific activities of museums, in particular the mechanisms for cooperation with scientific and educational organizations, as well as with volunteers and social activists; development of mechanisms for attracting sponsorship funds, etc.

3.3. Description of consumer preferences

According to a comprehensive sociological study aimed at analyzing the opinions of the museum community and the population of India, conducted by the Ministry of Culture of the Indian Federation, ROSIZO, Heritage Institute in 2019, the emotions that visit Indian museums evoke vary depending on age groups.

At the same time, according to the same study, visitors basically perceive the museum as a form of leisure, which is an alternative to other, more familiar forms that involve varying degrees of physical activity (sports, outdoor activities, “sofa” leisure, relaxation with gadgets) and includes including visits to cultural and leisure activities. Thus, in the perception of visitors, museums are in direct competition with both other types of leisure and leisure institutions.
...
An important circumstance influencing visiting or not visiting museums is the inertia of behavior. The specificity of the youth audience is manifested in the active presence of digital services among the forms of leisure - easy and affordable, not requiring moving oneself in space, which determines the difficulty of embedding museums in the leisure structure of this group of visitors. For visitors of all ages, the limiting factor in spending free time in the museum is the territorial location of the museum - its remoteness from the metro and from the place of residence. The involvement of potential visitors who do not show a stable interest in museums occurs, in particular, by integrating the museum into a comprehensive program of leisure activities (museum, cafe, trampoline park).

The choice of leisure activities (including visiting museums) is influenced by weather conditions. In this case, extreme hot or cold weather gives museums some advantages over many leisure activities.

A smaller role in increasing the chances of visiting museums is given to VR technologies (virtual reality), the sale of souvenirs and books, theatrical support of the permanent exhibition and temporary exhibitions, the museum lecture hall and the use of an audio guide, etc.

Diagram 25. Factors that can increase the chance of visiting museums and the flow of visitors, 2019, %

3.4. Price analysis

In general, for the services of museums in 2015-2019. prices are slowing down.
...

Table 16. Indian Museum Consumer Price Indices, 2015-2019, 9 months 2020, %

Part 4. Assessment of factors of investment attractiveness of the market

The negative factors of the investment climate in the Indian museum market dominate over the positive ones.

The most significant negative factors.
...
The most significant positive factors.
...

Part 5. Forecast for the development of the museum market until 2024

Let's carry out a forecast of the development of the museum market based on methods based on identifying trends over time, adjusted for expert opinion in the industry.

Forecast of the volume of the Indian museum market, compiled by GidMarket, for the period 2020-2024. takes into account the trend in the size of the museum market in 2015-2019. and predictive impact on the level of demand of key macro factors.

At the same time, the following factors are significant for forecasting the size of the museum market:
...

Factors that are less important to the outlook during the coronavirus pandemic but have a positive impact on the museum market include:
...

Part 6. Conclusions on the prospects of creating enterprises in the study area and recommendations for current market operators

According to GidMarket's calculations based on data from the Ministry of Culture of India and data from The Art Newspaper Russia, the volume of the museum market in India in 2019 amounted to ... million visits, including visitors to permanent exhibitions and temporary exhibitions.
...

Taking into account the dynamics of average consumer prices for museum services in India, presented in Diagram 9 (paragraph 1.6 of this study), we will calculate the size of the museum market in 2015-2019. in value terms.
...

The structure of the museum market by types in India is presented by categories of museums, based on their focus and subject, profile of activity.
..

According to the results of the STEP analysis, the factors of the macro environment in 2015-2019 rendered the museum market to a greater extent ...
...

GidMarket analysts predict...
...

Both new and existing operators of the Indian museum market can be recommended:
...

Diagrams

Diagram 1. Compactness of location of industry institutions across the Union Territories, 2019, %
Diagram 2. Dynamics of the volume of the Indian museum market, 2015-2019, million visits
Diagram 3. Dynamics of the volume of the Indian museum market, 2015-2019, billion Rs.
Diagram 4. Structure of the museum market by type in India, 2019, % of the market volume in real terms
Diagram 5. The structure of the provision of museum services in India by Union Territories, 2019, % of the market volume in physical terms
Chart 6. Dynamics of India's GDP, 2012-2019, Q1, Q2, Q3 2020, % to the corresponding period of the previous year
Chart 7. Monthly dynamics of the US dollar against the rupee, 2015-2019, Jan.-Nov. 2020, Rs. for 1 US dollar
Diagram 8. Dynamics of the share of services of cultural institutions in the structure of paid services to the population of India, 2015-2019, %
Chart 9. Dynamics of average consumer prices for museum visits in India, 2015-2019, Jan.-Sep. 2020, Rs./ticket
Diagram 10. Dynamics of the total fund of museums of the Ministry of Culture of India, 2015-2019, thousand units
Diagram 11. Population dynamics in India, as of 01 Jan. 2012-2020, million people
Diagram 12. Dynamics of real money income of the population of India, 2012-2019, Q1, Q2 and 3 sq. 2020 % to the corresponding period of the previous year
Diagram 13. Dynamics of the consumer confidence index, 2017-2019, Q1, Q2, Q3 2020, quarterly, %
Diagram 14. Dynamics of the number of employees of museums of the Ministry of Culture of India, 2015-2019, people
Diagram 15. Dynamics of the number of exhibition projects implemented in India, 2015-2019, units
Diagram 16. Return on profit before tax (profit of the reporting period) in the field of museums in comparison with all sectors of the Indian economy, 2015-2019, %
Chart 17. Current liquidity (total coverage) by museum industry, 2015-2019, times
Diagram 18. Business activity (average receivables turnover period) in the field of museums, 2015-2019, days days
Diagram 19. Financial stability (security of own working capital) in the field of museums in comparison with all sectors of the Indian economy, 2015-2019, %
Diagram 20. Shares of the largest competitors in the museum market in India, 2019, %
Diagram 21. Dynamics of cumulative attendance of the largest museum market operators (TOP-10) in India, 2015-2019, million visits
Chart 22. Museum consumption per capita in India, 2015-2019, visits/person per year, Rs./pers. in year
Chart 23. Emotions that cause visiting Indian museums, 2019, %
Chart 24. Likely ways or places to spend free time, 2019, %
Diagram 25. Factors that can increase the chance of visiting museums and the flow of visitors, 2019, %
Diagram 26. Main consumer requests to the museum, 2019, points
Diagram 27. Forecast of museum market size in 2020-2024, million visits, billion Rs.

Tables

Table 1. Dynamics of urban and rural population in India, 2014-2019, million people, %
Table 2. STEP analysis of factors affecting the museum market
Table 3. Gross margin of the museum industry compared to all sectors of the Indian economy, 2015-2019, %
Table 4. Absolute liquidity of the museum industry in comparison with all sectors of the Indian economy, 2015-2019, times
Table 5. Main companies participating in the museum market in India, 2019
Table 6. Basic information about the No. 1 participant in the museum market in India
Table 7. Basic information about the No. 2 participant in the museum market in India
Table 8. Basic information about the No. 3 participant in the museum market in India
Table 9. Basic information about the No. 4 participant in the museum market in India
Table 10. Basic information about the No. 5 participant in the museum market in India
Table 11. Basic information about the No. 6 participant in the museum market in India
Table 12. Basic information about the No. 7 participant in the museum market in India
Table 13. Basic information about the No. 8 participant in the museum market in India
Table 14. Basic information about the No. 9 participant in the museum market in India
Table 15. Basic information about the No. 10 participant in the museum market in India
Table 16. Indian Museum Consumer Price Indices, 2015-2019, 9 months 2020, %
Table 17. Average prices on the museum market by Union Territories, 2019, Rs./ticket
Table 18. Prices for the services of the main operators of the museum market, December 2020, Rs./ticket
Table 19. Assessment of factors of investment attractiveness of the museum market

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