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Report Overview
The photo market size reached around USD 5.04 Billion in 2023. The market is projected to grow at a CAGR of 6.80% between 2024 and 2032 to reach nearly USD 9.11 Billion by 2032.
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
- As per industry report, in the year 2023, Google Image Search was anticipated to contain nearly 136 billion indexed images.
- Hiring a photographer is viewed as crucial by almost 94% couples across the world, contributing to photo market revenue.
- Social media users generally share nearly 14 billion images per day through social media platforms.
Global Photo Market Growth
Nearly 90% of mobile phones in use around the globe are classified as smartphones. By the end of 2024, it is expected that smartphones will represent 94% of all photographs taken. The total number of smartphones in circulation has surpassed 7.2 billion, with projections indicating ongoing growth in the coming years. Over the last five years, the number of smartphone users worldwide has risen by at least 5% annually, consequently driving up the photo market share. Recent advancements in smartphone photography have been significant, leading to the development of powerful devices now available on the market. The widespread adoption of smartphones has heightened the significance of photography, enabling users to easily capture high-quality images. Professional photographers are increasingly utilising smartphones to achieve remarkable shots, leveraging their capabilities in various lighting conditions.
As per the photo market analysis, the expanding e-commerce sector significantly contributes to market growth by increasing the demand for visually attractive product displays. Online sellers will thus use stock images as some of the tools in conducting their marketing and promotional advertising, which consequently increases visual appeal for their products. With online shopping becoming increasingly popular, the demand for high-quality and professionally curated images is increasing, and photographs have become essential assets for e-commerce platforms that aim to deliver engaging and memorable visual experiences to their consumers.
Compound Annual Growth Rate
Value in USD Billion
6.8%
2024-2032
Photo Market Outlook
*this image is indicative*
Key Trends and Developments
The global photo market growth can be attributed to the rising popularity of smartphones, the expansion of social media platforms, and the incorporation of artificial intelligence and editing software.
Rising Penetration of Smart Phones
The increasing use of smartphones, especially those with high-quality cameras, improves both casual and professional photography, making images more accessible and shareable worldwide.
Expansion of Social Media
Platforms like Instagram, Snapchat and Facebook significantly drive the demand for photo-sharing, influencing trends in creative photography and visual storytelling, thereby leading to the photo market expansion.
Rising Application of Editing Software and Artificial Intelligence
The emergence of AI-driven editing tools streamlines photo enhancement, encouraging users to improve and share their images for both personal and professional use, thereby driving market growth.
Rise in Content Creation Platforms
One of the notable photo market trends is the rise of content creation platforms has led to influencers and brands generating a substantial amount of visual content. This increase has amplified the demand for high-resolution images, which are essential for successful engagement, marketing tactics, and storytelling.
Global Photo Market Trends
The growing trend of digital content creation, fueled by the increasing online presence of both businesses and individuals, plays a significant role in the expansion of the photo market. Expansion in the establishment of various digital platforms creates continuously growing demand for a diverse range of high-quality visuals for marketing, advertising, social media, and other online content, thus creating stimuli for the development of the photo market. Thus, easy access to stock images is required for filling this high demand; thus, stock images form an important and essential input toward enriching digital communications and participation by diverse stakeholders in any organization. Technical development supports further development by developing processes to improve the creation, modification, and distribution of pictures. Technical development regarding photography, with AI integration and image recognition, provides a quality, accuracy, and productivity improvement in pictures produced.
Global Photo Industry Segmentation
The EMR’s report titled “Global Photo Market Report and Forecast 2024-2032” offers a detailed analysis of the market based on the following segments:
Breakup by Type
- Sports
- Conferences
- Events and Weddings
- Stock Photography
- Theme Park and Cruise Line
- Schools and Colleges
Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Global Photo Market Share
Based on type, the market is segmented into sports, conferences, events and weddings, stock photography, theme park and cruise line, and schools and colleges. The segment of stock photography is expected to account for the highest market share with a CAGR of 7.6%, which will contribute to the growth of the photo market. Stock photography is defined as a collection of images that are licensed for commercial use. These photos are usually taken by photo professionals, and copies can be obtained or licensed from stock photo firms.
Leading Companies in the Global Photo Market
Major players are focusing on the adoption of technological advancements to gain a competitive edge in the market and improve photo market outlook.
Alamy Ltd.
Alamy Ltd. was founded in 1999 and is headquartered in Abingdon, Oxfordshire, United Kingdom. It serves as a digital provider of stock photographs, videos, and various other visual content.
Canva Germany GmbH
Canva Germany GmbH was founded in 2013 and is headquartered in Sydney, Australia. It serves as a digital platf...
Getty Images, Inc.
Getty Images, Inc. was founded in 1995 and is headquartered in Seattle, Washington, United States. The organis...
Inmagine Group
Inmagine Group was founded in 2000 and is headquarterd in Chicago, Illinois, United States. Inmagine transform...
*Please note that this is only a partial list; the complete list of key players is available in the full report. Additionally, the list of key players can be customized to better suit your needs.*
Other major players in the market are Alamy Ltd., Canva Germany GmbH, Getty Images, Inc., Inmagine Group, Eezy LLC, Freepik Company, S.L., Shutterstock, Inc., Envato Pty Ltd., Dreamstime.com, LLC, and iStockphoto LP.
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
In 2023, the market attained a value of nearly USD 5.04 Billion.
The market is assessed to grow at a CAGR of 6.80% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024 -2032 to reach about USD 9.11 Billion by 2032.
The major drivers of the market are rising penetration of smart phones, expansion of social media, and adoption of artificial intelligence and editing software.
As per the EMR report, the different types of photos in the market are sports, conferences, events and weddings, stock photography, theme park and cruise line, and schools and colleges.
Regions considered in the market are North America, Europe, Asia Pacific, Latin America, and Middle East and Africa.
The major players in the market are Alamy Ltd., Canva Germany GmbH, Getty Images, Inc., Inmagine Group, Eezy LLC, Freepik Company, S.L., Shutterstock, Inc., Envato Pty Ltd., Dreamstime.com, LLC, and iStockphoto LP.
Report Summary
Explore our key highlights of the report and gain a concise overview of key findings, trends, and actionable insights that will empower your strategic decisions.
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
|
| Breakup by Type |
|
| Breakup by Region |
|
| Market Dynamics |
|
| Competitive Landscape |
|
| Companies Covered |
|
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