Display Insight Introductory Sector Information March 2012 Leisure and Museums For the majority of the population spending time on their leisure activity or visiting a museum or attraction is an important part of their waking hours outside of work or study. In the UK there are approximately 2,500 Museums employing about 40,000 people. The objective of these institutions is certainly not to make money. It is to inspire, stimulate curiosity and to entertain as well as preserve and provide study opportunities on the artifacts. Museums in the UK are in a state of transition and are facing a number of special challenges to ensure survival. Nowadays, modern museum managers must also understand and fully embrace the need to attract visitors from all ages as well as develop closer partnerships with corporate organisations. This new challenge is requiring them to adapt to the pressures of the technological age in and to make use of a wide range of Display technology to ultimately increase footfall. Since the early 1990’s simple touch screen technology has been used in addition to the use of projection, plasma and LCD displays. With the growth in social media and a wider variety of techniques to promote the activities of the museum choices have to be made from (in many cases) a diminishing budget. Leisure and Museums Market Analysis The role expected of Museums was explicitly stated in the Museum, Libraries and Archives (MLA) Strategic Statement 2007-2010 which proclaimed that: 'Museums are reinventing themselves. Our cultural institutions are not passive repositories of the past but catalysts for a new economic and creative age.' There are 240 Museums in London alone and the largest of these the British Museum has over 5.5m visitors a year. With the top five museums all being in London with a combined footfall of c 20million per annum. With many museums having no entrance fee they are very reliant on financial support from local authorities, retail income, corporate events and in the case of large capital projects from Charitable Foundations. Museum design companies / consultancies are an important part of the eco structure supporting museums with their knowledge in technological advancements and are used extensively in new developments. In the UK there is a strong concentration of these organizations whose skills are sought across the Globe. Consolidation has been occurring for a number of years within the museums community either within a region or linked to a specific focus – for example the NMSI (National Museum of Science and Industry). This enables the combined group to benefit from synergies. Opportunities for the Display market are growing as large screen displays (including Video-walls), interactive screens, digital signage systems and various projectors are seen as a key part of any new development. Operating budgets for maintenance and support of technology products are coming under increasing pressure and as a result investment in LED light source projectors is likely to increase. For more information please visit displayinsight.com or email us with your request at info@displayinsight.com