Dublin, March 19, 2021 (GLOBE NEWSWIRE) — The “Global Photographic Services Market Report 2021: Impact of COVID-19 and Recovery to 2030” report has been added to from ResearchAndMarkets.com offer.
The global photography services market is expected to grow from $32.92 billion in 2020 to $36.42 billion in 2021 at a compound annual growth rate (CAGR) of 10.6%.
The Global Photographic Services Market Report 2021 assesses the global Photographic Services Market as it emerges from the COVID-19 lockdown.
Major companies in the photography services market include Lifetouch Inc; Studio Alice Co Ltd; Getty Images Inc; Portrait Innovations Inc and Cherry Hill Photo Enterprises.
The growth is mainly due to companies reorganizing their operations and recovering from the impact of COVID-19, which had previously led to restrictive containment measures involving social distancing, remote working and the closure of business activities that resulted in operational challenges. The market is expected to reach $44.07 billion in 2025 at a CAGR of 5%.
The photographic services market includes sales of photographic services and related goods by entities (organizations, sole proprietorships, and partnerships) that provide services for planning, developing, creating, and managing the processes of creating sustainable images by recording by light or by electromagnetic radiation by means of an image sensor or chemically by means of a photosensitive film. It includes editing, processing and presentation of images.
Photographic services include school portraits, wedding photography, special occasions and event photography. Photographic service establishments undertake processes where human capital is the main input. They make available the knowledge and skills of their employees, often on an assignment basis, where one person or team is responsible for delivering services to the client. The photography services market is segmented into portrait studio services and commercial studios.
North America was the largest region in the global photographic services market, accounting for 41% of the market in 2020. Asia-Pacific was the second largest region, accounting for 29% of the global photographic services market. Africa was the smallest region in the global photographic services market.
Photographers and service providers are increasingly exploring opportunities in niche markets to increase market value and customer base. Expertise and specialization in the fields of sports, events, landscape, wildlife and street photography are growing in popularity. Businesses and individuals focus on aerial photography, babies, pets, fashion, travel and photojournalism.
This trend is also helping companies market their services to targeted audiences and reduce their operating costs. Working in niche markets allows photographers to fetch relatively high prices for their services and specialization, thereby increasing their profitability.
The widespread sharing of images on websites and social media platforms is expected to contribute to the growth of the photography services market over the forecast period.
Websites and mobile apps such as Facebook, Instagram, Snapchat and Pinterest have led to a growing trend of sharing images on these platforms to gain social acceptance and popularity among peers. While most images shared on social media are amateur private photographs, professional agencies such as Shutterstock and Getty offer professional images for sale, which can then be used by individuals or businesses to advertise on social networks.
Photographers stand to benefit from this trend, as individuals and organizations increasingly demand professionally clicked photographs for media communications, public relations, and other professional services. The increased internet penetration in many developed and developing countries, especially among urban populations and young people, is further driving the demand for professional photographic services.
Main topics covered:
2. Structure of the report
3. Characteristics of the photography services market
3.1. Market definition
3.2. Key segments
4. Product Analysis of Photography Services Market
4.1. Featured products/services
4.2. Key Features and Differentiators
4.3. Development products
5. Photographic Services Market Supply Chain
5.1. Supply Chain
5.3. End customers
6. Photographic Services Market Customer Information
6.1. Customer preferences
6.2. End-use market size and growth
7. Photographic Services Market Trends and Strategies
8. Impact of COVID-19 on Photographic Services
9. Photographic Services Market Size and Growth
9.1. Market size
9.2. Historical Market Growth, Value (Billions of dollars)
9.3. Market growth forecast, value (in billions of dollars)
10. Photographic Services Market Regional Analysis
10.1. Global Photographic Services Market, 2020, by Region, Value (USD Billion)
10.2. Global Photographic Services Market, 2015-2020, 2020-2025F, 2030F, Historical & Forecast, By Region
10.3. Global Photography Services Market Comparison, Growth and Market Share, by Region
11. Photography Services Market Segmentation
11.1. Global Photographic Services Market, Segmentation by Type, History and Forecast, 2015-2020, 2020-2025F, 2030F, USD Billion
- Portrait studio services
- Commercial Studios
11.2. Global Photographic Services Market, Segmentation by Application, History and Forecast, 2015-2020, 2020-2025F, 2030F, USD Billion
12. Photography Services Market Segments
12.1. Global Portrait Studio Services Market, Segmentation by Type, 2015-2020, 2020-2025F, 2030F, Value (USD Billion) – School Photography Services; personal photography services; wedding photography services; Other photography services
12.2. Global Commercial Studios Market, Segmentation by Type, 2015-2020, 2020-2025F, 2030F, Value (USD Billion)
13. Photography Services Market Measurements
13.1. Photographic services market size, percentage of GDP, 2015-2025, world
13.2. Average photographic services market expenditure per capita, 2015-2025, world
- Lifetouch Inc.
- Studio Alice Co Ltd
- Getty Images Inc.
- Portrait Innovations Inc.
- Cherry Hill Photographic Enterprises
For more information on this report, visit https://www.researchandmarkets.com/r/lhue8t