The global photography services market is expected to post a CAGR of close to 5% during the period 2019-2023, according to the latest market research report by Technavio.
A key factor driving the growth of the global photography services market size is the growing global still images market. The demand for still images is increasing significantly across the world owing to the rising Internet penetration, and the growing popularity of social media platforms. This is resulting in the increased demand for photography services, as the shooting of still images requires expertise which can be offered by photography service providers. Therefore, the growing demand for still images will stimulate the photography services market growth during the forecast period.
As per Technavio, the growing use of technologically advanced services in photography will have a positive impact on the market and contribute to its growth significantly over the forecast period. This global photography services market 2019-2023 research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Global photography services market: Growing use of technologically advanced services in photography
The photography landscape has witnessed several technological developments over the past few years and it continues to experience constant innovations and advancements. The use of technologically advanced photography equipment in photography services ensures the production of highly defined and featured photographs. Thus, the use of advanced technology photography equipment will improve the quality of service, which will drive the adoption of photography services across the globe. This will spur the growth of the global photography services market during the forecast period.
Apart from the growing use of technologically advanced services in photography, factors such as the increasing demand for special occasion photography, and the growing popularity of photography on digital media platforms will have a significant impact on the growth of the photography services market size during the forecast period, says a senior analyst at Technavio.
Global photography services market: Segmentation analysis
This market research report segments the global photography services market by application (consumer and commercial) and geographic regions (APAC, Europe, MEA, North America, and South America).
The North American region led the market in 2018, followed by APAC, Europe, MEA, and South America respectively. The photography services market growth can be attributed to the introduction of technologically advanced photography services and the growing use of online platforms to share, deliver, and retain photographs as part of a persons or an organizations memorabilia. In addition, the growing demand for personalized and customized photography services is fueling the growth of the photography services market in North America.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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