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 in the photographic services market 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 photographic services market is expected to reach $59.30 billion in 2026 at a CAGR of 8.5%.
What is the Global Photographic Services Market?
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.
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What drives the Global Photographic Services Market?
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.
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Global Photographic Services Market Segments
The global photographic service market is segmented:
By Type: Portrait Studios Services, Commercial Studios
By Application: Children, Youth, Adult
By Service Provider: Large Enterprise, Small and Medium Enterprise
By Geography: The regions covered in the photography market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
Photographic Services Global Market Report 2022provides market size and growth forecasts for the global photographic services market, global photographic services market share, photographic services market segments and geographies, photographic services market competitive landscape including leading competitors’ revenues, profiles and market shares. The photographic services market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
Global Photographic Services Industry Playersinclude Shutterfly, Inc., Studio Alice Co Ltd, Getty Images Inc., Lifetouch Inc, Studio Alice Co Ltd, Getty Images Inc, Portrait Innovations Inc and Cherry Hill Photo Enterprises. Based on industry trends and company analysis, the report explains a number of strategies for companies in the market.
