DUBLIN--(BUSINESS WIRE)--The "Stock Images and Videos Market - Global Outlook and Forecast 2019-2024" report has been added to ResearchAndMarkets.com's offering.
The global stock images and videos market is expected to grow at a CAGR of over 5% during the period 2018-2024.
As traditional advertising revenues that mandate the use of images are phasing out, digital storytelling tools such as videos, photography, drones, and interactive graphics are creating engaging communication. The magnetism toward emotive, experiential, and immersive content that offers consumers new experiences is the main driver for this new form of communication. This trend is driving the growth of global stock images and videos market.
The era of instant gratification has compelled brands and businesses to use bite-sized and short-form content. Made-for-social programming and video streaming have become popular due to the thrill of novelty they offer. This is opening new avenues for marketers to advertise. Therefore, for this form of content, stock visuals account for a big part. Moreover, as these platforms are rolling out tons of video content, graphics, and images, they are expected to drive the demand in the global stock images and videos market.
Artificial Intelligence (AI) acts as a smart system for stock agencies to effectively monitor and accurately segregate, review images, recognize the content's value, and offer the right content to align with the consumer's requirement. AI tools can generate tags based on image recognition, allowing users to efficiently source keywords that validate the image. It offers intelligent keywording features that improve accuracy and save time. This helps increase satisfaction and proves beneficial to the growth of the stock images and videos market.
Key Vendor Analysis
The global stock images and videos market is highly consolidated. Since Getty Images and Corbis imposed a consumer-facing business model (i.e., low price, high volume), the industry has not changed much. While there are several specialist agencies and mom- and- pop shops, the latter's growth seems hazy. Specialist agencies, however, can survive provided as they keep up with technology and demand developments. Major agencies, such as Getty Images, often represent smaller ones, benefitting from their exclusive content and giving them an opening. There are also several platforms that have also come up to cater to amateurs.
Getty Images, Visual China Group, Shutterstock, and Adobe Stock are the four major vendors that dominate the stock images and videos market. Several small and large vendors are altering the stock photography business by new approaches and business models. With a lot of vendors trying to cut costs due to shrinking revenues, offering any kind of service apart from the basic is limiting their growth. Several larger players have witnessed a decline in revenues over the last couple of years due to consolidation that devalued the stock images and videos market.
Market Growth Enablers
- Growth of Digital Communities in Hyper-Connected Ecosystem
- Authenticity Breathes New Life
- Reinvention of Storytelling
- Social Shows Sustain Buzz in Stock Content
- The Growth of Content Automation and Personalization
Market Growth Restraints
- Copyright Infringement and Breach of Licenses
- Glut of Images
- Unsustainable Business Models
- UGC Eating into the Market
- Audio Eclipsing Video
Market Opportunities & Trends
- Blockchain Technology Making Inroads
- AI and ML in Stock Content
- Powering up via Distribution Deals
- Growth of Platform Integrations
- Mobile Stock Losing its Sheen
- Rapid Shift to Vertical Formats
Key Company Profiles
- Getty Images
- Visual China Group
Other Prominent Vendors
- AP Images
- Can Stock Photo
- Death to Stock
- Reuters Images
- NHK Video Bank
- Motion Array
For more information about this report visit https://www.researchandmarkets.com/r/9c2dhl