LONDON--(BUSINESS WIRE)--The global photography services market is expected to post a CAGR of close to 5% during the period 2019-2023, according to the latest market research report by Technavio.
A key factor driving the growth of the global photography services market size is the growing global still images market. The demand for still images is increasing significantly across the world owing to the rising Internet penetration, and the growing popularity of social media platforms. This is resulting in the increased demand for photography services, as the shooting of still images requires expertise which can be offered by photography service providers. Therefore, the growing demand for still images will stimulate the photography services market growth during the forecast period.
As per Technavio, the growing use of technologically advanced services in photography will have a positive impact on the market and contribute to its growth significantly over the forecast period. This global photography services market 2019-2023 research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Global photography services market: Growing use of technologically advanced services in photography
The photography landscape has witnessed several technological developments over the past few years and it continues to experience constant innovations and advancements. The use of technologically advanced photography equipment in photography services ensures the production of highly defined and featured photographs. Thus, the use of advanced technology photography equipment will improve the quality of service, which will drive the adoption of photography services across the globe. This will spur the growth of the global photography services market during the forecast period.
“Apart from the growing use of technologically advanced services in photography, factors such as the increasing demand for special occasion photography, and the growing popularity of photography on digital media platforms will have a significant impact on the growth of the photography services market size during the forecast period,” says a senior analyst at Technavio.
Global photography services market: Segmentation analysis
This market research report segments the global photography services market by application (consumer and commercial) and geographic regions (APAC, Europe, MEA, North America, and South America).
The North American region led the market in 2018, followed by APAC, Europe, MEA, and South America respectively. The photography services market growth can be attributed to the introduction of technologically advanced photography services and the growing use of online platforms to share, deliver, and retain photographs as part of a person’s or an organization’s memorabilia. In addition, the growing demand for personalized and customized photography services is fueling the growth of the photography services market in North America.
Looking for more information on this market? Request a free sample report
Technavio’s sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.
Some of the key topics covered in the report include:
Market Landscape
- Market ecosystem
- Market characteristics
- Market segmentation analysis
Market Sizing
- Market definition
- Market size and forecast
Five Forces Analysis
Market Segmentation
Geographical Segmentation
- Regional comparison
- Key leading countries
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
If you are interested in more information, please contact our media team at media@technavio.com.
