LONDON--(BUSINESS WIRE)--Technavio analysts forecast the global photo printing and merchandise market to register a CAGR of more than 7% over the forecast period, according to their latest market research report. However, the growth momentum of the market is decelerating as the year-over-year growth is declining.
The growing demand for personalized mobile device covers is one of the major trends being witnessed in the global photo printing and merchandise market 2018-2022. Increased demand for smartphones will drive the demand for mobile cases. Also, with the growth of smartphones, the number of pictures being uploaded through digital media is also increasing. The rise in the number of pictures is leading to an increasing number of printouts for posters, gift cards, photo mugs, and photo mobile cases.
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According to Technavio analysts, one of the key factors contributing to the growth of the global photo printing and merchandise market is the growing demand for personalized photo products:
Global photo printing and merchandise market: Growing demand for personalized photo products
There is a global increase in the gifting culture which is resulting in an increase in the sale of photo merchandise especially during holidays such as New Year, Christmas, Halloween, Easter, and Hanukkah. In addition, festivals along with events such as Father’s Day or Mother’s Day are providing opportunities for retailers to increase their sales. Customizing gifts through personalization, or on-demand printing enable value addition for ordinary items making them unique and special.
According to a senior analyst at Technavio for research on publishing and advertising, “The growing number of personalized gift outlets in shopping malls and hypermarkets is also enhancing the sale of photo products. Moreover, economic growth and increasing disposable income has led to an increase in the spending power of consumers leading to an increase in spending on discretionary product.”
Global photo printing and merchandise market: Segmentation analysis
The global photo printing and merchandise market research report provides market segmentation by product (photos only, wall décor, photo cards, calendars, and photo gifts), and by region (North America, Western Europe, APAC, South and Central America, Eastern Europe, and ROW). It provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
The photos only product segment accounted for close to 58% of the market share in 2017, followed by the remaining four segments with relatively equal shares of the market.
According to Technavio, over 44% of the market share was contributed by the Americas in 2017, followed by Western Europe and APAC. The APAC region is expected to witness a significant increase in its market share over the forecast period to displace Western Europe as the second largest market by 2022.
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- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market sizing
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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