LONDON--(BUSINESS WIRE)--The global photography services market is expected to post a CAGR almost 5% during the period 2019-2023, according to the latest market research report by Technavio. Request a free sample report
Factors such as the rise in Internet penetration and the growing popularity of social media platforms are driving the demand for still images across the world. The shooting of still images requires expertise which is delivered by photography service providers. The still images services undertake the licensing of pre-produced images and videos, which are utilized for different purposes. This is increasing the prominence of photography services among end-users. Thus, growth in the global still images market will boost the growth of the photography services market during the forecast period.
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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 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 use of technologically advanced photography equipment in photography services ensures the production of highly defined photographs. The photography landscape has witnessed several technological developments over the past few years and it continues to experience constant innovations and advancements. This will improve the quality of service and encourage people and business end-users to avail photography services. Thus, with the growing use of technologically advanced devices, the market for photography services is expected to showcase a positive outlook during the forecast period.
“Apart from the growing use of technologically advanced services in photography, the increasing demand for special occasion photography and the growing popularity of photography on digital media platforms are some other major factors that will boost market growth during the forecast period,” says a senior analyst at Technavio.
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Global Photography Services Market: Segmentation Analysis
This market research report segments the global photography services market by application (consumer and commercial) and geography (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. During the forecast period, the North American region is expected to maintain its dominance over the global market. This is due to the presence of a well-established photography community and introduction of technologically advanced photography services in the region.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- 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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