Enjoy complimentary customisation on priority with our Enterprise License!
The photography services market is estimated to grow by USD 9,611.08 million between 2022 and 2027 accelerating at a CAGR of 4.39%. The growth of the market depends on several factors, including the growing sports events market, the growing global still images market, and the growing e-commerce market.
This photography services market research report extensively covers market segmentation by application (consumer and commercial), type (shooting service and after-sales service), and geography (North America, APAC, Europe, Middle East and Africa, and South America). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
To learn more about this report, Request Free Sample
The growing sports events market is notably driving the market growth, although factors such as high maintenance costs involved in photography equipment may impede the market growth. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The growing sports events market is notably driving the market growth. Sports events are a major application in the commercial photography services segment. The growth in the number of sports events being held across the world and the consequent increase in the global sports event market is driving the demand for photography services. In sports events, professional photography service providers are hired by the organizers to document on-the-field action as part of their publicity or marketing strategies, to record special or historical images, such as breaking a record, for posterity, and for promoting forthcoming events.
The growth in the number of sports events is majorly attributed to the enhanced interest among people in different sports events across the globe. This has further fueled the sports tourism market across the globe. This has encouraged sports event organizers to market and advertises their sports events on a wide scale across the globe to attract more spectators and participants. Thus, a growing number of sports events is expected to drive the global market growth during the forecast period.
The growing use of technologically advanced devices for photography is an emerging trend in the market. The use of technologically advanced photography equipment in photography services ensures the production of highly defined and featured photographs. Furthermore, it will improve the quality of service, which, in turn, will drive the adoption of photography services across the globe.
Earlier, photographers used to face several environmental issues, such as adverse weather (windy or foggy) and improper sunlight conditions during photography sessions, which encouraged photography equipment manufacturers to introduce several distinct and advanced equipment to address these concerns. Thus, the use of advanced photography equipment not only improves the quality of the photographs but also encourages photographers to offer add-ons for their products. Therefore, such factors are expected to spur the growth of the global market during the forecast period.
The high maintenance costs involved in photography equipment are major challenges impeding the market. Photography services require the use of equipment such as cameras, tripods, and lights. However, the need for continuous support and upgrades from the manufacturers and marketers of such photography equipment is a challenge for the global photography equipment market.
Photography service providers must receive consistent support and services in order to ensure improved image quality, improved performance efficiency, as well the effective performance of digital cameras and their accessories. Owing to such factors, a few camera manufacturers partner with third parties to offer after-sales services and support to camera users. However, it is not necessary that these third parties may meet the expectations of the photography service providers. Therefore, vendors of photography services must choose appropriate third-party vendors that can offer consistent support in order to achieve excellence in operations. Therefore, these factors will hamper the growth of the market during the forecast period.
The report includes the market's adoption lifecycle, covering the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Photography Services Market Customer Landscape
Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Angle Platform - The company operates under one segment. The company under this segment is involved in offering professional photographers who deliver consistent, stylish images through a streamlined and hassle-free online platform. The key offerings of the company include professional custom photography services.
The report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:
Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
The market share growth by the consumer segment will be significant during the forecast period. The consumer segment is the largest contributing application segment in the global market. The major use of photography services in consumer applications is for school, preschool, graduation, and home (marriage, pre-marriage, maternity, and birthday) events.
Get a glance at the market contribution of various segments Request a PDF Sample
The consumer segment was valued at USD 23,427.89 million in 2017 and continued to grow until 2021. The demand for photography in schools and preschools is growing at a significant rate, especially in developing countries such as India. Schools, especially those that follow international nomenclature, adhere to and focus much on organizing different types of events and also print yearbooks for distribution. These schools also focus on collating memories regularly in the form of videos and photographs. This generates a huge demand for photography service providers. Owing to the increasing number of international schools in developing countries has led to a growing demand for photography services. In addition, another major factor for the growth of the consumer segment is the increased expenditure on marriage and pre-marriage functions across the globe, especially in developing countries such as India. The growth in the overall wedding expenditure has also led to increased budgets for photography services at wedding/pre-wedding events. Therefore, all the abovementioned factors will contribute to the segment growth, thereby, fueling the global market growth during the forecast period.
For more insights on the market share of various regions Request PDF Sample now!
APAC is estimated to contribute 39% to the growth of the global market during the forecast period. Another region offering significant growth opportunities to vendors is North America. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
The key markets in North America are the US and Mexico. Important factors contributing to the market growth in the US are the introduction of technologically advanced photography services and the growing use of online platforms to share, deliver, and retain photographs as part of a person's or an organization's memorabilia. In addition, the growing demand for personalized and customized photography services is further fueling the growth of the market in North America.
Furthermore, the increasing demand for school and preschool photography services coupled with add-on services such as yearbooks will drive the market in North America. For instance, various vendors in North America, especially in the US, offer a complete package of photography services to schools, including photoshoots along with products such as yearbooks and other promotional products such as hoodies, jackets, and mugs and distribute them through their web portals. Therefore, all of these factors will fuel the regional market growth during the forecast period.
The market in North America witnessed certain challenges in 2020 due to the COVID-19 pandemic. However, in 2021, massive vaccination campaigns across North America resulted in the relaxation of lockdown regulations in a significant number of countries, which permitted the return of a number of social gatherings and events. This enabled the photography services to resume operations. As a result, the market in focus in North America is likely to witness growth during the forecast period.
The photography services market research report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
Photography Services Market Scope |
|
Report Coverage |
Details |
Page number |
153 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 4.39% |
Market growth 2023-2027 |
USD 9,611.08 million |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
4.15 |
Regional analysis |
North America, APAC, Europe, Middle East and Africa, and South America |
Performing market contribution |
APAC at 39% |
Key countries |
US, China, India, Germany, and France |
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
Key companies profiled |
Angle Platform, Bella Baby Photography, BSTRO, Carma Media Productions, Cherry Hill Programs Inc., DE Photo (Franchising) Ltd., Hammerhead Interactive Ltd., Epic Photo Studios, Fisher Studios Ltd., Getty Images Inc., Global Media Desk, H Tempest Ltd., INDIGO STUDIO, Ben Jenkins, Mom365 Inc., Rocket Studio, Teddy Bear Portraits Nationwide Studios Inc., TRG Multimedia, Vital Design, and Wiggle Media |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Market Segmentation by Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Get lifetime access to our
Technavio Insights
Cookie Policy
The Site uses cookies to record users' preferences in relation to the functionality of accessibility. We, our Affiliates, and our Vendors may store and access cookies on a device, and process personal data including unique identifiers sent by a device, to personalise content, tailor, and report on advertising and to analyse our traffic. By clicking “I’m fine with this”, you are allowing the use of these cookies. Please refer to the help guide of your browser for further information on cookies, including how to disable them. Review our Privacy & Cookie Notice.