Stock images Market By Product Type: Global Opportunity Analysis and Industry Forecast, 2023-2032

Executive Summary

According to a new report, titled, 'Stock images Market,' The stock images market was valued at $6.4 billion in 2022, and is estimated to reach $12.2 billion by 2032, growing at a CAGR of 6.8% from 2023 to 2032.

Stock photos are images that have been licensed for usage in specific situations. The distribution and licensing rights to these images are obtained from the original photographers, after which they are distributed to various stock photo users for a fee.

Key factors driving the growth of the stock image market include an increasing demand for digital media campaigns, benefits associated with paid stock images, and rising e-commerce industry. Consumers engage with brands through a variety of ways. To properly target customers, marketers need to integrate their digital marketing strategy across all platforms. Digital advertising campaigns have the chance to be more affordable than prior marketing initiatives and to interact with consumer behavior in real time. Businesses can utilize digital campaigns with images, videos, and other forms of media for a variety of goals, such as raising brand recognition or telling loyal customers about a new product. According to the Content Marketing Institute (CMI), content marketing, a subset of digital marketing, delivers three times more leads than traditional outbound marketing while costing 62% less. Furthermore, 69% of the most successful businesses intend to boost the amount they spend on content marketing in 2023. This allows web marketers to raise their expenditure on stock photographs for ad campaigns to acquire the most suitable stock images as soon as possible and use them in their campaigns. As a result, the growing preference of marketers for digital media campaigns to extend their consumer base will drive the stock image market throughout the projection period.

There are also growth limitations to the stock images market. Stock pictures give creators a plethora of possibilities to pick from. Many of the photographs on stock image distribution websites, on the other hand, are created particularly for use in marketing campaigns and promotions. photos with basic white backdrops, overly active characters, exaggerated emotions on the photos, and a variety of other variables might make the image appear phony and unauthentic to consumers. According to Harvard University, the initial perception of a picture may remain between fifteen to thirty seconds in the human short-term memory before it is erased or moved to long-term memory for later recall, and the impression of a negative image can sabotage the brand's goals because the visuals are quickly removed from the consumers' brains. This encourages brands to generate their own product photographs, putting a strain on the stock image market.

The market also offers growth opportunities to the key players in the market. Because of its expanding impact on both small and large businesses, the internet has become an increasingly crucial element of every aspect of the consumers' lives across the globe. By 2021, there were approximately 4.9 billion people using the internet globally, accounting for more than two-thirds of the world's total population. Considering that the global digital population is growing in many places, access to and the internet differs by region. According to Internet World Stats, North America experiences the greatest penetration rate of the internet of 93.4% in 2022, meanwhile Africa having the lowest internet penetration rate of 43.2% in the same year. As a result, throughout the forecast period, the growing internet penetration rate in both developed and emerging countries will present an appealing market for stock pictures. Furthermore, machine learning (ML) and artificial intelligence (AI) support systems are rapidly evolving. They can handle a greater range of attributes, which can boost company efficiency. As a result, stock picture providers are providing an array of AI services to help their clients enhance their AI skills. Users will gain the ability to use innovative, ethical, and simple abilities by adding novel machine learning and artificial intelligence features into stock picture provider websites, raising their level of creativity and efficiency.

The stock image market is segmented on the basis of type and region. By type, the stock images market is classified into nature photography, people photography, manmade objects, abstract photography. By region, the market is divided across North America (the U.S., Canada, and Mexico), Europe (UK, Germany, France, Italy, Spain, Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia, and rest of Asia-Pacific), and LAMEA (Brazil, Argentina, Saudi Arabia, United Arab Emirates, South Africa, and Rest of LAMEA).

The key players profiled in the study include Stock image Market Share, gain profitability, and remain competitive in the market. The key players operating in the Stock image Market Analysis include- Depositphotos, Inc. USA, Adobe Inc., Inmagine Lab Pte., Ltd., Dreamstime, Stocksy United, Canva, Inc, Shutterstock, Inc., The Associated Press, Getty Images Holdings, Inc, and Unsplash

Key Market Insights

• By type, the manmade objects stock image segment dominated the market in 2022 and the people photography stock image segment is expected to have the highest growth during the forecast period.
• By region, Asia-Pacific dominated the market in 2022 and North America is expected to have the highest growth during the forecast period.

Companies Mentioned

• Dreamstime
• Inmagine Lab Pte. Ltd.
• Canva, Inc
• Depositphotos, Inc. USA
• Shutterstock, Inc.
• The Associated Press
• Unsplash
• Adobe Inc.
• Stocksy United
• Getty Images Holdings, Inc.

Methodology

The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.

They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.

They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:

• Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
• Scientific and technical writings for product information and related preemptions
• Regional government and statistical databases for macro analysis
• Authentic news articles and other related releases for market evaluation
• Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast

Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.