The Global Photographic Services Market Report by The Business Research Company covers photographic services market drivers and restraints, photographic services market size, major players, and the impact of COVID-19 on the 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. The photographic services market is segmented into portrait studios services and commercial studios.
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.
The global photographic services market is expected to grow from $32.2 billion in 2020 to $36.2 billion in 2021 at a compound annual growth rate (CAGR) of 10.%.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 $44.7 billion in 2025 at a CAGR of 5%.
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Some photographic services market trends include photographers and service providers 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.
Global photographic services market segments include:
1) By Type: Portrait Studios Services, Commercial Studios.
2) By Application: Children, Youth, Adult.
Subsegments Covered: School Photography Services, Personal Photography Services, Wedding Photography Services, Other Photography Services.
By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, North America accounts for the largest global photographic services market share.
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The Photographic Services Global Market Report 2021: COVID-19 Impact and Recovery to 2030 is one of a series of new reports from The Business Research Company that provides photographic services market overviews, analyzes and forecasts market size, share, photographic services market players, photographic services market segments and geographies, market’s 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.
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Read Photographic Services Global Market Report 2021: COVID-19 Impact and Recovery to 2030 from The Business Research Company for information on the following:
Data Segmentations: Market Size, Global, By Region And By Country, Historic And Forecast Size, And Growth Rates For The World, 7 Regions And 12 Countries.
Market Players Covered: Lifetouch Inc, Studio Alice Co Ltd, Getty Images Inc, Portrait Innovations Inc, Cherry Hill Photo Enterprises.
Regions: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
Countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Time Series: Five years historic (2015-20) and ten years forecast (2021-2025-2030)
Other Information And Analyses: SWOT analysis, customer information, market product/service analysis – product examples, trends and opportunities, drivers and restraints, key mergers and acquisitions, suggested trend based strategies, impact of COVID-19 on the market, future outlook and potential analysis, key metrics covered: number of enterprises, number of employees, global market in 2021 – countries offering most new opportunities, conclusions and recommendations by expert analysts.
Sourcing And Referencing: Data and analysis throughout the report are sourced using end notes.
Strategies For Participants In The photographic services Industry: The report explains a number of strategies for companies in the market, based on industry trends and company analysis.
Opportunities For Companies In The photographic services Sector: The report reveals where the global industry will put on most $ sales up to 2023.
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