This report describes and evaluates the global photographic services market. It covers 2016 to 2021, termed the historic period, and 2021 to 2026 termed the forecast period, along with further forecasts for the period 2026-2031.
The global photographic services market reached a value of nearly $38,934.8 million in 2021, having increased at a compound annual growth rate (CAGR) of 3.2% since 2016. The market is expected to grow from $38,934.8 million in 2021 to $52,045.8 million in 2026 at a rate of 6.0%. The market is then expected to grow at a CAGR of 5.5% from 2026 and reach $67,914.8 million in 2031.
Growth in the historic period resulted from rising e-commerce industry, strong economic growth in emerging markets, and increased disposable income. Factors that negatively affected growth in the historic period were impact of coronavirus pandemic, regulatory challenges and stringent government regulations on drones.
Going forward, increasing internet penetration and technological development will drive market growth. Factors that could hinder the growth of the photographic services market in the future include rising costs, and lack of skilled workforce.
The photographic services market is segmented by type into portrait studio services and commercial studios. The portrait studios services market was the largest segment of the photographic services market by type, accounting for 63.9% of the total market in 2021. The commercial studios market is expected to be the fastest-growing segment in photographic services market is segmented by type, going forward at a CAGR of 8.0% during 2021-2026 period.
The photographic services market is also segmented by application into children, youth, application and adult. The adult was the largest segment of the photographic services market by application, accounting for 45.1% of the total market in 2021. The adult segment is expected to be the fastest-growing segment in photographic services market is segmented by application, going forward at a CAGR of 6.1% during 2021-2026 period.
The photographic services market is also segmented by service providers into large enterprises and small and medium enterprises. The small and medium enterprise market was the largest segment of the photographic services market by service providers, accounting for 72.2% of the total market in 2021. The small and medium enterprise market is expected to be the fastest-growing segment in photographic services market is segmented by service providers, going forward at a CAGR of 5.7% during 2021-2026 period.
North America was the largest region in the photographic services market, accounting for 40.4% of the global market in 2021. It was followed by Asia Pacific, Western Europe and the other regions. Going forward, the fastest growing regions in the photographic services market will be Middle East and the Eastern Europe, where growth will be at CAGRs of 8.5% and 6.2% respectively from 2021-2026.
The global photographic services market is The global HR advisory services market is highly fragmented, with large number of small players in the market. The top ten competitors in the market made up to 6.63% of the total market in 2020. This can be due to the existence of number of local players in the market serving customers in particular geographies. Getty Images was the largest competitor with 1.92% of the market, Shutterfly Inc with 1.83%, followed by Mom365 with 0.91%, Studio Alice Co Ltd. with 0.86%, Cherry Hill Programs Inc with 0.66%, Greekyearbook with 0.13%, Visual China Group Co. with 0.11%, Pic Solve with 0.08%, ART + Commerce with 0.07%, and Yuen Lui Studios Inc with 0.06%.
The top growth potential in the photographic services market by type will arise in the commercial studios market, which will gain $6,572.3million of global annual sales by 2026. The top growth potential in the photographic services market by application will arise in adult market, which will gain $6,057.3 million of global annual sales by 2026. The top growth potential in the photographic services market by service providers will arise in small and medium enterprise market, which will gain $9,809.0 million of global annual sales by 2026. The photographic services market size will gain the most in the USA at $4,873.9 million.
Market-trend-based strategies for the photographic services market include using of DSLR cameras, unedited photos, Panoramic photography, cloud storage and usage of social media.
Player-adopted strategies in the photographic services industry includes strategic acquisitions, adopting new database solutions, expanding photographic product portfolio, and introducing unique photographic services for different age groups.
To take advantage of the opportunities, the publisher reccomends the photographic services companies to focus on cameras with improved image processing sensors, focus on panoramic photography, adopt cloud storage, scale up through merger and acquisition activity, offer advance booking options to customers, adopt premium pricing, provide competitively priced offerings in low-income countries, create product packages, use special occasions to offer discounts, partner with other photographers for referrals, leverage social media to maximize reach, leverage Facebook advertising and focus on younger population.
The global photographic services market reached a value of nearly $38,934.8 million in 2021, having increased at a compound annual growth rate (CAGR) of 3.2% since 2016. The market is expected to grow from $38,934.8 million in 2021 to $52,045.8 million in 2026 at a rate of 6.0%. The market is then expected to grow at a CAGR of 5.5% from 2026 and reach $67,914.8 million in 2031.
Growth in the historic period resulted from rising e-commerce industry, strong economic growth in emerging markets, and increased disposable income. Factors that negatively affected growth in the historic period were impact of coronavirus pandemic, regulatory challenges and stringent government regulations on drones.
Going forward, increasing internet penetration and technological development will drive market growth. Factors that could hinder the growth of the photographic services market in the future include rising costs, and lack of skilled workforce.
The photographic services market is segmented by type into portrait studio services and commercial studios. The portrait studios services market was the largest segment of the photographic services market by type, accounting for 63.9% of the total market in 2021. The commercial studios market is expected to be the fastest-growing segment in photographic services market is segmented by type, going forward at a CAGR of 8.0% during 2021-2026 period.
The photographic services market is also segmented by application into children, youth, application and adult. The adult was the largest segment of the photographic services market by application, accounting for 45.1% of the total market in 2021. The adult segment is expected to be the fastest-growing segment in photographic services market is segmented by application, going forward at a CAGR of 6.1% during 2021-2026 period.
The photographic services market is also segmented by service providers into large enterprises and small and medium enterprises. The small and medium enterprise market was the largest segment of the photographic services market by service providers, accounting for 72.2% of the total market in 2021. The small and medium enterprise market is expected to be the fastest-growing segment in photographic services market is segmented by service providers, going forward at a CAGR of 5.7% during 2021-2026 period.
North America was the largest region in the photographic services market, accounting for 40.4% of the global market in 2021. It was followed by Asia Pacific, Western Europe and the other regions. Going forward, the fastest growing regions in the photographic services market will be Middle East and the Eastern Europe, where growth will be at CAGRs of 8.5% and 6.2% respectively from 2021-2026.
The global photographic services market is The global HR advisory services market is highly fragmented, with large number of small players in the market. The top ten competitors in the market made up to 6.63% of the total market in 2020. This can be due to the existence of number of local players in the market serving customers in particular geographies. Getty Images was the largest competitor with 1.92% of the market, Shutterfly Inc with 1.83%, followed by Mom365 with 0.91%, Studio Alice Co Ltd. with 0.86%, Cherry Hill Programs Inc with 0.66%, Greekyearbook with 0.13%, Visual China Group Co. with 0.11%, Pic Solve with 0.08%, ART + Commerce with 0.07%, and Yuen Lui Studios Inc with 0.06%.
The top growth potential in the photographic services market by type will arise in the commercial studios market, which will gain $6,572.3million of global annual sales by 2026. The top growth potential in the photographic services market by application will arise in adult market, which will gain $6,057.3 million of global annual sales by 2026. The top growth potential in the photographic services market by service providers will arise in small and medium enterprise market, which will gain $9,809.0 million of global annual sales by 2026. The photographic services market size will gain the most in the USA at $4,873.9 million.
Market-trend-based strategies for the photographic services market include using of DSLR cameras, unedited photos, Panoramic photography, cloud storage and usage of social media.
Player-adopted strategies in the photographic services industry includes strategic acquisitions, adopting new database solutions, expanding photographic product portfolio, and introducing unique photographic services for different age groups.
To take advantage of the opportunities, the publisher reccomends the photographic services companies to focus on cameras with improved image processing sensors, focus on panoramic photography, adopt cloud storage, scale up through merger and acquisition activity, offer advance booking options to customers, adopt premium pricing, provide competitively priced offerings in low-income countries, create product packages, use special occasions to offer discounts, partner with other photographers for referrals, leverage social media to maximize reach, leverage Facebook advertising and focus on younger population.
Table of Contents
1. Photographic Services Market Executive Summary2. Table of Contents3. List of Figures4. List of Tables5. Report Structure8. Photographic Services Market, Product/Service Analysis -Product/Service Examples
6. Introduction
7. Photographic Services Market Characteristics
9. Photographic Services Market, Supply Chain Analysis
10. Photographic Services Market Customer Information
11. Photographic Services Market Trends And Strategies
12. Impact Of COVID-19 On The Photographic Services Market
13. Global Photographic Services Market Size And Growth
14. Photographic Services Market, Regional Analysis
15. Global Photographic Services Market Segmentation
16. Global Photographic Services Market Comparison with Macro Economic Factors
17. Asia-Pacific Photographic Services Market
18. Western Europe Photographic Services Market
19. Eastern Europe Photographic Services Market
20. North America Photographic Services Market
21. South America Photographic Services Market
22. Middle East Photographic Services Market
23. Africa Photographic Services Market
24. Global Photographic Services Market Competitive Landscape
25. Key Mergers And Acquisitions In The Photographic Services Market
26. Market Background: Design, Research, Promotional And Consulting Services Market
27. Global Photographic Services Future Opportunities And Strategies
28. Photographic Services Market, Conclusions And Recommendations
29. Appendix
Executive Summary
Photographic Services Global Market Opportunities And Strategies To 2031 provides the strategists; marketers and senior management with the critical information they need to assess the global photographic services market as it emerges from the COVID 19 shut down.
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Description:
Where is the largest and fastest growing market for photographic services? How does the market relate to the overall economy; demography and other similar markets? What forces will shape the market going forward? The photographic services market global report answers all these questions and many more.
The report covers market characteristics; size and growth; segmentation; regional and country breakdowns; competitive landscape; market shares; trends and strategies for this market. It traces the market’s historic and forecast market growth by geography. It places the market within the context of the wider photographic services market; and compares it with other markets.
The report covers the following chapters
- Executive Summary - The executive summary section of the report gives a brief overview and summary of the report.
- Report Structure - This section gives the structure of the report and the information covered in the various sections.
- Introduction - This section gives the segmentation of the photographic services market by geography and by type covered in this report.
- Market Characteristics - The market characteristics section of the report defines and explains the photographic services market. This chapter includes different goods covered in the report and basic definitions.
- Product Analysis - The product analysis section of the report describes the leading products/services in the market along with key features and differentiators for those products/services.
- Supply Chain - The supply chain section of the report defines and explains the key players in the photographic services industry supply chain.
- Customer Information - This chapters covers recent customers’ trends/preferences in the global photographic services market.
- Trends And Strategies - This chapter describes the major trends shaping the global photographic services market. This section highlights likely future developments in the market and suggests approaches companies can take to exploit these opportunities.
- Global Market Size And Growth - This section contains the global historic (2016 - 2021) and forecast (2021-2026 and 2026-2031) market values, and drivers and restraints that support and restrain the growth of the market in the historic and forecast periods.
- Regional Analysis - This section contains the historic (2016-2021) and forecast (2021-2026 and 2026-2031) market value and growth, and market share comparison by region.
- Segmentation - This section contains the market values (2016-2031) and analysis for segment by type, by application and by service provider in the market.
- Global Macro Comparison - The global photographic services market comparison with macro-economic factors gives the photographic services market size, %age of GDP, and average photographic services market expenditure.
- Regional Market Size and Growth - This section contains the region’s market size (2021), historic (2016-2021) and forecast (2021-2026 and 2026-2031) market values, and growth and market share comparison of major countries within the region. This report includes information on all the regions (Asia Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa).
- Competitive Landscape - This section covers details on the competitive landscape of the global photographic services market, estimated market shares and company profiles of the leading players.
- Key Mergers And Acquisitions - This chapter gives the information on recent mergers and acquisitions in the market covered in the report. This section gives key financial details of mergers and acquisitions which have shaped the market in recent years.
- Market Opportunities And Strategies- This section includes market opportunities and strategies based on findings of the research. This section also gives information on growth opportunities across countries, segments and strategies to be followed in those markets. It gives an understanding of where there is significant business to be gained by competitors in the next five years.
- Conclusions And Recommendations - This section includes conclusions and recommendations based on findings of the research. This section also gives recommendations for photographic services market providers in terms of product/service offerings, geographic expansion, marketing strategies and target groups.
- Appendix - This section includes details on the NAICS codes covered, abbreviations and currencies codes used in this report.
Scope
Markets Covered:
- By Type: Portrait Studios Services
- By Application: Children; Youth; Adult
- By Service Provider: Large Enterprise; Small and Medium Enterprise
Companies Mentioned:
Getty Images, Shutterfly Inc., Mom365, Studio Alice Co. Ltd., Cherry Hill Programs Inc.
Countries:
China, Australia, Bangladesh, Hong Kong, India, Indonesia, Japan, Malaysia, New Zealand, Philippines, Singapore, South Korea, Thailand, Vietnam, Canada, Mexico, USA, Argentina, Brazil, Chile, Colombia, Peru, Austria, Belgium, Denmark, Finland, France, Germany, Ireland, Italy, Netherlands, Norway, Portugal, Spain, Sweden, Switzerland, UK, Czech Republic, Poland, Romania, Russia, Ukraine, Saudi Arabia, Israel, Iran, Turkey, UAE, Egypt, Nigeria, South Africa
Regions:
Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time series:
Five years historic and ten years forecast.
Data:
Ratios of market size and growth to related markets; GDP proportions; expenditure per capita; photographic services indicators comparison.
Data segmentation:
country and regional historic and forecast data; market share of competitors; market segments.
Sourcing and Referencing:
Data and analysis throughout the report is sourced using end notes.
Companies Mentioned
- Getty Images
- Shutterfly Inc.
- Mom365
- Studio Alice Co Ltd.
- Cherry Hill Programs Inc.
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 343 |
| Published | July 2022 |
| Forecast Period | 2021 - 2031 |
| Estimated Market Value ( USD | $ 38934.8 Million |
| Forecasted Market Value ( USD | $ 67914.8 Million |
| Compound Annual Growth Rate | 5.7% |
| Regions Covered | Global |
| No. of Companies Mentioned | 5 |
