LONDON--(BUSINESS WIRE)--The photo printing and merchandise market size is expected to post a CAGR of over 6% during the period 2019-2023, according to the latest market research report by Technavio. Request a free sample report
The rise in gifting culture is one of the major reasons for photo printing and merchandise market growth. The gifting landscape has evolved over the years. The concept of personalized gifting has gradually evolved, with an increase in the number of millennials being inclined toward personalized gifting. The ongoing digitalization trend across the world and the growing number of online users that are actively consuming the Internet are important factors shaping the gifting landscape globally. Thus, the evolution of the gifting culture has led to a rise in the sale of photo printing and merchandise.
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As per Technavio, the growing prominence of print-on-demand services 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.
Photo Printing and Merchandise Market: Growing Prominence of Print-On-Demand Services
Traditionally, there have been problems related to merchandise, such as the presence of unsold stock, logistical issues, and other inventory issues. However, the introduction of print-on-demand services has reduced the issues of various vendors. In the case of print-on-demand services, products are printed as and when they are ordered by customers, and they are dispatched and delivered by a third party. In addition, there are no up-front costs as well as inventory or stocks to manage in the case of print-on-demand services. Thus, print-on-demand services are gaining prominence, which will drive the growth of the market during the forecast period.
“Apart from the growing prominence of print-on-demand services, other factors such as innovations in photo printing and merchandise, and the increase in the number of M&A will have a positive impact on the photo printing and merchandise market growth during the forecast period,” says a senior analyst at Technavio.
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Photo Printing and Merchandise Market: Segmentation Analysis
This market research report segments the photo printing and merchandise market by geography (APAC, Europe, MEA, North America, and South America), device (desktop and mobile), product (photo only, wall décor, photo cards, photo gifts, and calendars) and distribution channel (online, retail, and kiosk).
The North American region led the market in 2018, followed by Europe, APAC, South America, and MEA respectively. The growth of the photo printing and merchandise market share in North America can be attributed to factors such as the growth of the gifting culture, rising demand for online photo printing services, and strategic expansion of leading vendors.
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 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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