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Libraries, Museums & Cultural Activities in the UK - Market Size, Industry Analysis, Trends and Forecasts (2024-2028)

Krasimir Dinev Krasimir Dinev London, United Kingdom Last Updated: March 2024 SIC UK-R91

Revenue

£1.0bn

2024-25

£1.0bn

Past 5-Year Growth

Profit

£XX.Xm

Employees

2m

Businesses

2,814

Wages

£XX.Xbn

Libraries, Museums & Cultural Activities in the UK industry analysis

Europe’s libraries, museums and cultural activities are broad, vibrant and diverse, playing a significant role in the socio-economic development of the region. The industry helps to support thousands of jobs, fosters cultural exchange, promotes tourism and preserves the continent’s rich heritage. Heightened consumer interest in cultural experiences and sturdy tourism across Europe have supported industry demand. However, the COVID-19 outbreak severely disrupted operations, decimating revenue. The industry is still recovering from the repercussions of this. As a result, industry revenue is expected to contract at a compound annual rate of 6.8% to €52.8 billion over the five years through 2024, including an estimated 2.2% hike in the current year.

Trends and Insights

  • COVID-19 significantly disrupted Europe's cultural sites’ revenue. The pandemic led to several closures and travel restrictions, causing a huge blow to the revenue of libraries, museums and cultural sites across Europe.
  • Tech is transforming Europe's museums, making exhibits more interactive. By embracing virtual experiences and offering remote access, these institutions are revolutionising their approach to education and cultural preservation.
  • The large number of institutions limit the level of concentration. There’s a high number of museums, libraries and cultural institutions across Europe, with success hinging on unique collections, premium locations and engaging exhibits that elevate customer experience and differentiate operators.
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Top Questions Answered in this Report

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What is the market size of the Libraries, Museums & Cultural Activities industry in the United Kingdom in 2025?

The market size of the Libraries, Museums & Cultural Activities industry in the United Kingdom is £1.0bn in 2025.

How many businesses are there in the Libraries, Museums & Cultural Activities industry in the United Kingdom in 2024?

There are 2,814 businesses in the Libraries, Museums & Cultural Activities industry in the United Kingdom, which has declined at a CAGR of 4.8 % between 2019 and 2024.

Has the Libraries, Museums & Cultural Activities industry in the United Kingdom grown or declined over the past 5 years?

The market size of the Libraries, Museums & Cultural Activities industry in the United Kingdom has been declining at a CAGR of 20.9 % between 2019 and 2024.

What is the forecast growth of the Libraries, Museums & Cultural Activities industry in the United Kingdom over the next 5 years?

Over the next five years, the Libraries, Museums & Cultural Activities industry in the United Kingdom is expected to grow.

What does the Libraries, Museums & Cultural Activities industry in the United Kingdom include?

Libraries and Archives are part of the Libraries, Museums & Cultural Activities industry in the United Kingdom.

How competitive is the Libraries, Museums & Cultural Activities industry in the United Kingdom?

The level of competition is moderate and steady in the Libraries, Museums & Cultural Activities industry in the United Kingdom.

Everything you need in one report

  • Reliable market estimates from 2014-2029
  • Competitive analysis, industry segmentation, financial benchmarks
  • Powerful SWOT, Porter’s Five Forces and risk management frameworks
  • Online membership platform with PDF, Word, Excel and PPT exports

Table of Contents

External Environment

Highlights

Trends
  • Regulation & Policy
  • Assistance

Key Takeaways

Regulations help to govern Europe's cultural sectors. The industry falls under various regulations and policy controls to maintain authenticity, preserve culture and ensure public accessibility.

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External Drivers

Analysis

What demographic and macroeconomic factors impact the Libraries, Museums & Cultural Activities in the UK industry?

Financial Benchmarks

Highlights

Trends
  • Profit Margin
  • Average Wage
  • Largest Cost

Key Takeaways

Cultural organisations are navigating financial challenges with creative strategies. Facing fluctuating income, high costs and recent pandemic-induced struggles, these not-for-profit entities are diversifying revenue, investing in technology and expanding their reach with online services.

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Cost Structure

Charts
  • Share of Economy vs. Investment Matrix
  • Industry Cost Structure Benchmarks:
    • Marketing
    • Depreciation
    • Profit
    • Purchases
    • Wages
    • Rent
    • Utilities
    • Other
Analysis

What trends impact cost in the Libraries, Museums & Cultural Activities in the UK industry?


Key Ratios

Data tables
  • IVA/Revenue (2014-2029)
  • Imports/Demand (2014-2029)
  • Exports/Revenue (2014-2029)
  • Revenue per Employee (2014-2029)
  • Wages/Revenue (2014-2029)
  • Employees per Establishment (2014-2029)
  • Average Wage (2014-2029)

Country Benchmarks

European Leaders & Laggards

Data Tables

Top and bottom five countries listed for each:

  • Revenue Growth (2024)
  • Business Growth (2024)
  • Job Growth (2024)

European Country Performance

Data Tables

Rankings available for 37 countries. Statistics ranked include:

  • IVA/Revenue (2024)
  • Imports/Demand (2024)
  • Exports/Revenue (2024)
  • Revenue per Employee (2024)
  • Wages/Revenue (2024)
  • Employees per Establishment (2024)
  • Average Wage (2024)

Structural Comparison

Data Tables

Trends in 37 countries benchmarked against trends in Europe

  • Concentration
  • Competition
  • Barriers to Entry
  • Buyer Power
  • Supplier Power
  • Volatility
  • Capital Intensity
  • Innovation
  • Life Cycle

Key Statistics

Industry Data

Data Tables

Including values and annual change:

  • Revenue (2014-2029)
  • IVA (2014-2029)
  • Establishments (2014-2029)
  • Enterprises (2014-2029)
  • Employment (2014-2029)
  • Exports (2014-2029)
  • Imports (2014-2029)
  • Wages (2014-2029)

Methodology

Where does IBISWorld source its data?

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