The global photography services market size at a CAGR of nearly 5% during 2019-2023

SOURCE ReportBuyer

NEW YORK, June 17, 2019 /PRNewswire/ -- About this market

Still images are primarily used by advertisers to promote their business and to develop brand engagement, and recognition among customers. Penetration of the Internet penetration and growing popularity of social media platforms have fuelled the growth of the global still images market. Still images are also gaining popularity in the personal consumer segment due to the growing penchant towards personal photography across the globe. The growth of the global still images market is expected to drive the growth of the global photography services market size at a CAGR of nearly 5% during 2019-2023.

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Market Overview

Growing e-commerce market

Photography services are increasingly being used in the e-commerce industry to display pictures of the products. The change in customers' shopping preferences, high internet penetration, and the increased use of smartphones is driving the e-commerce market. This will have a positive impact on the growth of the global photography services market size during the forecast period.

Increasing popularity of DIY in personal photography

The high costs associated with photography services, lack of photography service providers, and the concerns over consumers' privacy have increased the adoption of DIY photography. This is expected to hinder the growth of the global photography services market size during the forecast period.

For the detailed list of factors that will drive and challenge the growth of the photography services market size during 2019-2023, view our report.

Competitive Landscape

The market appears to be fragmented with many players occupying the market share. Companies such as Getty Images Inc. and Hammerhead Interactive Ltd. have intensified competition. Factors such as the growth of global still images market and e-commerce market will provide significant growth opportunities for photography service providers. Getty Images Inc., Hammerhead Interactive Ltd., Shutterfly Inc., StudioAlice Co. Ltd., and Summit Portraits LLC. are some of the major companies covered in this report.

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