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The stock images market size is forecast to increase by USD 1.71 billion at a CAGR of 6.56% between 2023 and 2028. The surge in demand for stock photography in digital and social media marketing is driving market expansion. As Internet accessibility grows and individuals increasingly engage with social media platforms such as Facebook, Instagram, Twitter, and Snapchat via smartphones and tablets, the use of images on these platforms has witnessed a significant uptick. Social media serves as a pivotal avenue for advertising and customer engagement, thereby presenting lucrative growth opportunities for providers of these images in the digital domain.
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The expanding scope of digital marketing initiatives and the increasing reliance on stock photography as a key component drive the growth of the market. With the proliferation of online platforms and the growing emphasis on visual content in marketing strategies, businesses and marketers are increasingly turning to stock pictures to enhance their campaigns. The convenience and accessibility offered by stock photo platforms, coupled with the diverse range of images available, cater to the evolving needs of marketers across various industries. Moreover, the integration of AI and ML technologies in stock content platforms further enhances the efficiency and effectiveness of image search and selection processes, driving market expansion. Additionally, In the realm of visual content, the market thrives, fueled by the creativity of professional stock photographers and the growing demand for stock media. Platforms like Adobe Stock and Hanhua Yimei Visual Technology leverage AI & ML to streamline content creation and distribution, revolutionizing the stock photo industry. From macrostock to midstock photography, the market caters to diverse needs, supporting image creators and original photographers alike. With the proliferation of stock photo websites, opportunities abound for growth, positioning the industry as a vital resource for businesses and creatives seeking high-quality visuals. 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 surge in demand for stock photography in digital and social media marketing is propelling market expansion. As Internet accessibility grows and individuals increasingly engage with social media platforms such as Facebook, Instagram, Twitter, and Snapchat via smartphones and tablets, the use of pictures on these platforms has witnessed a significant uptick. Social media serves as a pivotal avenue for advertising and customer engagement, thereby presenting lucrative growth opportunities for providers of pictures in the digital domain.
Furthermore, market vendors are enhancing their offerings by integrating various tools like Editor and Editor Pro by Shutterstock. These tools empower users with seamless image manipulation capabilities and feature-rich cloud-based workflow tools tailored for creative professionals. Such innovations enable quick resizing, editing, and enhancement of images, catering to diverse needs ranging from presentations to social media posts and advertisements. Consequently, numerous marketing agencies are leveraging these platforms to amplify their visibility and engagement, thereby fueling the expansion of the customer base and driving market demand throughout the forecast period.
The rising investments in related business portfolios are a key trend in the market. Due to declining profit margins and a trend toward the adoption of alternatives to pictures, vendors are investing in related business portfolios. This helps in product diversification and attracts new customers who seek to expand their business and geographical expansion activities. This results in vendors like Getty Images, who acquired Unsplash in 2021, gaining a competitive advantage.
Moreover, increasing partnerships and strategic alliances have helped vendors expand their market share and expand their customer and product portfolios. Greater collaboration with sports companies and agencies for expanding the distribution of product lines globally is also observed. Hence the above factors are likely to result in market growth during the forecast period.
Declining profit margins are challenging market growth. The average price of each image has decreased due to the reduced need for physical interaction and increasing internet penetration. It has become easier for vendors to directly share images with their clients. Prior, the demand exceeded supply but recently due to digital cameras, among other factors, supply and demand in the market have balanced out, reducing the market price of Stock Photography.
Moreover, various options of high-quality digital cameras that possess advanced features have made taking photographs easier and cost-effective. This is resulting in an increasing supply for primarily commercial content, which is resulting in reduced profitability. Moreover, the emergence of several photo-sharing platforms like Flickr and Pinterest has increased market competition and caused price wars. Hence this is expected to result in market growth during the forecast period.
The market forecasting report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the market growth analysis report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth and forecasting strategies.
Market Customer Landscape
Companies 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.
Adobe Inc - The company offers stock images such as Adobe premium stock images.
The research report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
Qualitative and quantitative analysis of companies 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 companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
This stock images market report extensively covers market segmentation by application (editorial and commercial), product (still images and footage), and geography (North America, Europe, APAC, Middle East and Africa, and South America).
The editorial segment is estimated to witness significant growth during the forecast period. It primarily includes working with the publishing industry. Publishing houses use stock images to support the advertising and promotion efforts of their books, newspapers, magazines, and website descriptions. Supporting for content helps to retain customer viewership compared to ones without an image, pushing demand for this segment.
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The editorial segment was the largest segment and was valued at USD 2.05 billion in 2018. It is primarily divided into documentary, editorial pictures, and illustrative editorial pictures. The most popular editorial stock image categories include celebrity pictures, pictures describing any scenario, and images with descriptive content. The increasing number of publishing houses and news publications, and a growing number of bloggers are fueling demand. However, reducing newspaper and magazine subscriptions will reduce the growth of this segment of the market during the forecast period.
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North America is estimated to contribute 42% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
Within North America, the US, and Mexico are the largest markets due to innovative service delivery methods and evolving business models. Shutterstock provides customized stock pictures as per client requirements. Moreover, the commercial segment includes businesses that require macro pictures to enhance their marketing and promotional campaigns to gain a competitive advantage. However, demand is likely to reduce due to video and animated content being increasingly adopted as an alternative due to customer preference for dynamic pictures and video content. Regardless, the presence of numerous video makers and entertainment service providers and the shift to the e-commerce industry in the region shall boost market growth, especially via social media.
The market research and growth report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD Billion" for the period 2024-2028, as well as historical data from 2018 - 2022 for the following segments.
The market witnesses incremental growth driven by a plethora of factors, from the proliferation of free images platforms like Pexels to the rise of macrostock agencies such as Corbis. With AI & ML technologies revolutionizing stock content, personalized and high-quality photos cater to diverse needs, from branding to marketing campaigns and e-learning initiatives. However, challenges persist, including copyright infringement and illegal downloads, highlighting the importance of blockchain technology in protecting creators' rights. As demand for quality images expands across industries like animation production and video, the Stock Images Market remains a vital resource for marketing professionals and digital marketers seeking impactful visuals to drive engagement and conversions.
Furthermore, brands leverage personalized content from agencies like WENN and ZUMA Press to showcase their unique selling propositions (USPs). With a growing pool of amateur photographers contributing, the market witnesses incremental growth on a global scale, fueled by the demand for branded content across industries. ML and AI technologies drive innovation, optimizing stock photography agencies' offerings and enhancing e-learning experiences.
Moreover, the market embraces AI & ML in Stock Content innovations to cater to the e-learning industry and beyond. From macrostock photography to Stock photos website and Copy of image, these advancements in Stock photos unlock immense growth potential, reshaping the landscape of digital content creation and distribution. From captivating nature and people photography to dynamic web design elements, the market caters to diverse needs, driving sales of stock photographs and engaging internet users worldwide. As the demand for quality visuals continues to soar, the market remains a cornerstone of visual communication and storytelling.
Market Scope |
|
Report Coverage |
Details |
Page number |
165 |
Base year |
2023 |
Historic period |
2018 - 2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 6.56% |
Market growth 2024-2028 |
USD 1.71 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
5.73 |
Regional analysis |
North America, Europe, APAC, Middle East and Africa, and South America |
Performing market contribution |
North America at 42% |
Key countries |
US, UK, China, Germany, and Canada |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Adobe Inc., Alamy Ltd., Arcangel Images Inc., Can Stock Photo Inc., Canva Pty Ltd., Cimpress Plc, Depositphotos Inc., Design Pics Inc., Dissolve Inc., Dreamstime, Eezy Inc., Envato Pty Ltd., Getty Images Holdings Inc., IMAGE SOURCE LTD., Inmagine Lab Pte. Ltd., Pixabay GmbH, PIXTA Inc., Robert Harding Picture Library Ltd., Shutterstock Inc., and Vexels Inc. S.A. |
Market dynamics |
Parent market analysis, Market Forecasting, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the market 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 market research report to meet your requirements.
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 Product
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
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