Technavio’s new report on the global still images market provides an analysis of the most important trends expected to impact the market outlook. Technavio also offers an up-to-date analysis of the market concerning the current market scenario, latest drivers, and the overall global environment.
A major factor driving the growth of the market is the rising adoption of new business models. Previously, the market players obtained images from different professional photographers and offered them at higher prices. Owing to the declining popularity of the print medium, the demand for still images has decreased over the years. This has encouraged current market players and new entrants to adopt new business models.
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In this report, Technavio has highlighted the growing concern for authenticity as one of the emerging trends driving the global still images market:
Growing concern for authenticity
Visual content aids in creating the perception of a product or brand. Millennials are more concerned with brands than the previous generations. Thus, meaningful stories in visual content are developed to attract their attention toward a brand or a product. This has increased the demand for realistic photographs that are better, genuine, and highly relevant to the viewers.
“Several vendors are emphasizing on sourcing user-generated content to match the way customers think about visual content. The vendors source still images from customers through various social media platforms such as Facebook, Instagram, and Twitter. They later obtain permission from the uploader for brand use. Thus, this helps in driving the value of stock photos and promotes market growth,” says a senior analyst at Technavio for research on retail goods and services.
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Global still images market segmentation
This market research report segments the global still images market by license model (RM still images and RF still images), by image type (photos and others), and key regions (the Americas, APAC, and EMEA).
The Americas held the largest share of the global still images market in 2017, accounting for a market share of around 51%. It was followed by EMEA and APAC respectively. The APAC region is expected to witness the fastest growth during the forecast period.
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