LONDON--(BUSINESS WIRE)--Technavio’s latest report on the global still images market provides an analysis on the most important trends expected to impact the market outlook from 2017-2021. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.
The research study by Technavio on the global still images market for 2017-2021 provides detailed industry analysis based on license model (Rights managed (RM) still images and royalty free (RF) still images), image type (photos, presentations, posters, vectors, graphic images, and infographics), and geography (the Americas, EMEA, and APAC).
|Technavio analysts forecast the global still images market to grow to USD 4.46 billion by 2021, at a CAGR of close to 8% over the forecast period. The Americas is the leading regional segment of the market, responsible for generating the high revenue and maximum incremental growth over the forecast period.|
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The top three emerging trends driving the global still images market according to Technavio consumer and retail research analysts are:
- Growth of microstock images
- Increased demand for authenticity
- Growing popularity of premium still images
Growth of microstock images
“The concept of crowdsourcing has given rise to the concept of microstock, which has established itself as an ideal solution for the Internet age. Key vendors in the microstock photography segment include iStockphoto, Dreamstime, and Shutterstock,” says Sapna Jha, a key analyst at Technavio for retail goods and services research.
Over the last two years, various stock agencies have created or acquired microstock divisions to sell stock images. Vendors in the stock image segment source pictures from photographers and sell licenses at prices lower than those charged by traditional stock photography agencies. This practice adds significant revenue to the still images market.
Increased demand for authenticity
The visual aspects of a brand or a product greatly influence its perception among consumers. Sellers use meaningful stories with powerful visual elements to capture and engage consumers, which is creating a high demand for high resolution and realistic still images. High-quality images are perceived as more relevant and genuine and add value to the brand communication efforts. To meet the rising demand for such images from various industries and sellers, market vendors are increasingly adding images that are raw, candid, and captured in natural light with little to no editing.
Growing popularity of premium still images
“The demand for premium, high-quality stock photos is rising as professionals such as brand managers and publishers are looking for images that are unique, culturally relevant, and provide fresh perspectives,” says Sapna.
In response to the rising demand for such premium still images, market vendors are expanding their premium portfolios, and new vendors are entering the market to tap into its potential. For instance, Dissolve launched its premium RF stock photography collection containing over 200,000 photos selected from some of the world's most acclaimed photography agencies.
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Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, resellers, and end-users.
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