Stock photography provides high resolution visual content that can be broadly used for commercial and non-commercial purposes including online and print media like blogs, articles, advertisements, brochures websites etc. The abundant availability and cost effectiveness of stock photos have aided their adoption across industries.
The global Stock Photography Market is estimated to be valued at US$ 3.84 Billion in 2024 and is expected to exhibit a CAGR of 7.1% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The evolving creative needs of end users in varied sectors has been a key growth driver for the stock photography market. With technology advancements content creators are able to incorporate high resolution stock photos to enhance visual appeal of their products and services. Moreover, the rising importance of visual presentation for improved communication has boosted the demand for copyright free photos. Stock agencies have responded by enriching their collections with innovative angles and aesthetically varied photos. This allows designers, marketers and content developers access to extensive yet targeted collections. The trend is expected to continue aiding market expansion over the forecast period.
Segment Analysis
The global stock photography market is dominated by the macrostock segment. Within macrostock, royalty-free images account for the largest share as they allow permanent usage of images without stringent licensing restrictions. Macrostock photos are suitable for a variety of uses as they contain images for editorial, commercial and personal uses. Being cost-effective and easily accessible, macrostock photos see higher demand from various end-use industries.
Key Takeaways
Global Stock Photography Market Demand is estimated to be valued at US$ 3.84 Billion in 2024 and is expected to exhibit a CAGR of 7.1% over the forecast period 2023 to 2030.
Regional analysis
The North America stock photography market holds the major share currently and is expected to maintain dominance over the forecast period. High awareness regarding intellectual property rights and strict implementation of copyright laws drive the market in the region. The Asia Pacific market is projected to witness the highest growth fueled by rapid digitalization and increasing need for visual content across countries.
Key players
Key players operating in the stock photography market are Shutterstock, Getty Images, Adobe, PIXTA, Dreamstime, Fotolia, Depositphotos, Photofolio, 123RF, iStockphoto. Shutterstock and Getty Images have established themselves as the leaders by virtue of their extensive libraries of high quality images and global presence. They are focusing on expanding their offerings through acquisition of smaller players as well as leveraging latest technologies like artificial intelligence.
Get More Insights on this Topic- https://www.dailyprbulletin.com/stock-photography-market-size-share-and-demand-analysis/
Comments
0 comment