Dublin, March 19, 2021 (GLOBE NEWSWIRE) -- The "Photographic Services Global Market Report 2021: COVID-19 Impact and Recovery to 2030" report has been added to ResearchAndMarkets.com's offering.
The global photographic 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%.
Global Photographic Services Market Report 2021 assesses the global photographic services market as it emerges from the COVID-19 shut down.
Major companies in the photographic 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 the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial 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 consists of the sales of photographic services and related goods by entities (organizations, sole traders and partnerships) that offer services for planning, developing, creating and managing the processes for creating durable images by recording light or through electromagnetic radiation by means of an image sensor or chemically by means of a light sensitive photographic film. It includes editing, processing and presenting pictures.
Photographic services include school portraits, wedding photography, special occasions and event photography. Photographic services establishments undertake processes where human capital is the major input. They make available the knowledge and skills of their employees, often on an assignment basis, where an individual or team is responsible for the delivery of services to the client. The photographic services market is segmented into portrait studios 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 fields of sports, events, landscapes, wildlife and street photography, are significantly gaining popularity. Companies and individuals are focusing on aerial photography, babies, pets, fashion, travel, and photo journalism.
This trend is also helping companies market their services to targeted audiences and reducing operating costs. Working in niche markets enable photographers to command comparatively high prices for their services and specialization, thereby increasing profitability.
Widespread sharing of pictures on websites and social networking platforms is expected to contribute to the growth of the photographic services market during the forecast period.
Websites and mobile applications such as Facebook, Instagram, Snapchat, and Pinterest have led to increasing 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 companies for advertising in social media.
Photographers are expected to benefit from this trend as individuals and organizations are increasingly demanding professionally clicked photographs for media communication, public relation and other professional services. Increased internet penetration in many developed and developing countries, especially among urban and younger population, is further driving the demand of professional photographic services.
Key Topics Covered:
1. Executive Summary
2. Report Structure
3. Photographic Services Market Characteristics
3.1. Market Definition
3.2. Key Segmentations
4. Photographic Services Market Product Analysis
4.1. Leading 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. Historic Market Growth, Value ($ Billion)
9.3. Forecast Market Growth, Value ($ Billion)
10. Photographic Services Market Regional Analysis
10.1. Global Photographic Services Market, 2020, by Region, Value ($ Billion)
10.2. Global Photographic Services Market, 2015-2020, 2020-2025F, 2030F, Historic and Forecast, by Region
10.3. Global Photographic Services Market, Growth and Market Share Comparison, by Region
11. Photographic Services Market Segmentation
11.1. Global Photographic Services Market, Segmentation by Type, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
Portrait Studios Services
11.2. Global Photographic Services Market, Segmentation by Application, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
12. Photographic Services Market Segments
12.1. Global Portrait Studios Services Market, Segmentation by Type, 2015-2020, 2020-2025F, 2030F, Value ($ 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 ($ Billion)
13. Photographic Services Market Metrics
13.1. Photographic Services Market Size, Percentage of GDP, 2015-2025, Global
13.2. Per Capita Average Photographic Services Market Expenditure, 2015-2025, Global
Studio Alice Co Ltd
Getty Images Inc
Portrait Innovations Inc
Cherry Hill Photo Enterprises
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