The global commercial photography market size is estimated at US$ 5.2 billion in 2022 and the market is expected to evolve at a CAGR of 2.2% during the forecast years of 2022-2032, according to the latest study by Fact.MR, market research, and competitive intelligence provider. The surging e-Commerce industry across the world is a prominent factor driving the demand for commercial photography.
Product photography has tremendous demand in the e-Commerce industry to enhance brand awareness and drive consumer attention to products. It plays an essential role in the sales of products and is projected to gain more popularity with increasing smartphone and Internet penetration.
The commercial photography market increased significantly post-COVID. In 2021, the global market size of commercial photography was around 31% of the total photography services market. Since it is a modern tool that enhances the business image and makes enterprises stand out differently from competitors, commercial photography is here to stay.
“Product photography to become an opportunistic factor for the demand for commercial photography,” says a Fact.MR analyst.
How is U.S. Market Growth Being Aided?
The United States commercial photography market is estimated to expand at a CAGR of 1.9% during the forecast period (2022-2032)
The U.S. commercial photography market is projected to grow with the increasing demand for professionally clicked photographs for media communication, public relation, and other professional services.
The growing popularity of e-Commerce among enterprises to expand their business online is another major factor attributed to market growth. To sell products or services online, corporates require value-added content and high-quality imagery to gain greater consumer attention.
The environment in the commercial photography market reflects extreme competition. To gain a solid hold in the market, prominent service providers are employing organic and non-organic strategies, such as the acquisition of Shutterfly Inc. and Lifetouch in 2018, along with Lifetouch’s acquired Unsplash in 2021.
With the utility of advanced photographic equipment, high-quality service offerings will be the primary focus of service providers in this market.
More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global commercial photography market, presenting historical market data (2017-2021) and forecast statistics for the period of 2022-2032.
The study reveals essential insights on the basis of type (product photography, architectural photography, event photography, environmental photography, headshots) and end-use industry (BFSI, education, healthcare, manufacturing, retails & consumer goods, energy & utility, media & entertainment, hospitality, others), across major regions of the world (North America, Latin America, Europe, East Asia, South Asia & Oceania, and the Middle East & Africa).
Expert analysis, actionable insights, and strategic recommendations of the highly seasoned Business Services team at Fact.MR helps clients from across the globe with their unique business intelligence needs.
With a repertoire of over a thousand reports and 1 million-plus data points, the team has analyzed the Business Services domain across 50+ countries for over a decade. The team provides unmatched end-to-end research and consulting services. Reach out to explore how we can help
Check out more related studies published by Fact.MR Research:
Video Decoder Market: The basic format used to store videos is analog form. This analog data is either stored in DVDs or magnetic tapes. The advancements in technology have led to the adoption of devices that can provide advanced features, such as live TV and recordings. One such device is a video decoder, it is a data-intensive video processing device, which is an integrated circuit chip that converts digital video signals to analog video format.
Video System Converters Market: Video system converters are systems used for video conversion that automatically detect input signals such as NTSC, PAL, or SECAM and convert them to NTSC or PAL output signals. There are two different types of video standards or systems. These include Phase Alternating Lines (PAL) and NTSC which are used as video display signals on televisions.
Video Dermatoscope Market: The examination of the skin using a dermatoscopy is known as dermatoscopy. Typically, an x10 magnifier, a non-polarised light source, a transparent plate, and a liquid medium between the instrument and skin are included with a dermatoscope. The basic difference between a dermatoscopy and a video dermatoscopy is that digital images are taken, stored, and compared with images from the patient’s next visit on a computer screen or mobile.
Video Streaming Market:The video streaming market is likely to garner a market value of US$ 50 Bn in 2022, expected to register a CAGR of over 17% from 20220-2032, accumulating a market value of US$ 241 Bn. People were confined to their homes due to the outbreak of COVID-19. Thus, global video streaming viewership witnessed a substantial spike among consumers globally.