Global Photographic Services Market Report 2022
The leading companies in the photographic services market are Shutterfly, Inc., Studio Alice Co Ltd. , Getty Images Inc., Lifetouch Inc., Studio Alice Co. Ltd. , Getty Images Inc., Portrait Innovations Inc.
New York, December 31, 2021 (GLOBE NEWSWIRE) – Reportlinker.com announces the publication of the report “Photographic Services Global Market Report 2022” – https://www.reportlinker.com/p04280979/?utm_source=GNW
and Cherry Hill Photo Enterprises.
The global photographic services market is expected to grow from $ 38.93 billion in 2021 to $ 42.81 billion in 2022 at a compound annual growth rate (CAGR) of 10.0%. The growth is mainly driven by companies reorganizing their operations and recovering from the impact of COVID-19, which previously led to restrictive containment measures involving social distancing, remote working and the shutdown of business activities that have resulted in operational challenges. The market is expected to reach $ 59.30 billion in 2026 at a CAGR of 8.5%.
The photographic services market comprises the sales of photographic services and related products by entities (organizations, sole proprietorships and partnerships) that provide planning, development, creation and management of image creation processes. Durable by recording light or electromagnetic radiation by means of an image sensor or chemically by means of a light-sensitive photographic film. This includes editing, processing and presenting the images.
Photographic services include school portraits, wedding photographs, special occasions and event photographs. Photographic service establishments undertake processes where human capital is the primary input.
They make the knowledge and skills available to their employees, often on an assignment basis, where one person or team is responsible for delivering services to the client.
The main types of photographic services are portrait studio services and commercial studios. A photo studio is often a business controlled and operated by one or more photographers, who create and market their personal images and sometimes others, sometimes accompanied by assistants and students.
These photographic services are used by children, youth and adults. The different service providers include large enterprises and small and medium enterprises.
North America was the largest region in the photographic services market in 2021. Asia-Pacific was the second largest region in the photographic services market.
The regions covered in this report are Asia Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The widespread sharing of images on websites and social media platforms is expected to contribute to the growth of the photographic services market during the forecast period. Websites and mobile apps such as Facebook, Instagram, Snapchat, and Pinterest have driven an increasing trend to share images on these platforms to gain social acceptance and popularity among peers.
While most of the images shared on social media are private photographs of amateurs, 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 should benefit from this trend as individuals. and organizations increasingly require professionally clicked photographs for media communication, public relations and other professional services.
The increased penetration of the Internet in many developed and developing countries, especially among urban and younger populations, is further driving the demand for professional photographic services.
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, landscapes, wildlife and street photography are growing in popularity considerably.
Businesses and individuals focus on aerial photography, babies, pets, fashion, travel, and photo journalism. This trend is also helping companies market their services to target audiences and lower operating costs.
Working in niche markets allows photographers to charge relatively high prices for their services and specialization, thereby increasing profitability.
The coronavirus disease (COVID-19) outbreak acted as a constraint on the photographic services market in 2020 as governments globally imposed lockdowns and trade restrictions, limiting the need for professional services . COVID-19 is a flu-like infectious disease. symptoms such as fever, cough, and difficulty breathing.
The virus was first identified in 2019 in Wuhan, Hubei Province in the People’s Republic of China, and has spread around the world, including Western Europe, North America and Asia. Measures taken by national governments to contain transmission have resulted in a decline in economic activity with countries entering a state of ‘containment’ and the outbreak negatively impacting businesses throughout 2020 and until 2021.
However, the photographic services market is expected to recover from the shock during the forecast period as this is a ‘black swan’ event and not related to any persistent or fundamental weaknesses in the market. global market or economy.
The countries covered by the photographic services market are Argentina; Australia; Austria; Belgium; Brazil; Canada; Chile; China; Colombia; Czech Republic; Denmark; Egypt; Finland; France; Germany; Hong Kong; India; Indonesia; Ireland; Israel; Italy; Japan; Malaysia; Mexico; Netherlands; New Zealand; Nigeria; Norway; Peru; Philippines; Poland; Portugal; Romania; Russia; Saudi Arabia; Singapore; South Africa; South Korea; Spain; Sweden; Switzerland; Thailand; Turkey; UNITED ARAB EMIRATES; UK; UNITED STATES; Venezuela; Vietnam.
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