The Business Research Company’s Photographic Services Global Market Report 2021: COVID-19 Impact And Recovery To 2030
LONDON, GREATER LONDON, UK, August 23, 2021 /EINPresswire.com/ — According to the new market research report ‘Photographic Services Global Market Report 2021 – COVID-19 Impact And Recovery’ published by The Business Research Company, the photographic services market is expected to grow from $32.2 billion in 2020 to $36.2 billion in 2021 at a compound annual growth rate (CAGR) of 10%.The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $44.7 billion in 2025 at a CAGR of 5%. Widespread sharing of pictures on websites and social networking platforms is expected to contribute to the growth of the photographic services market during the forecast period.
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The photographic services market consists of the sales of photographic services and related goods by entities (organizations, sole traders and partnerships) that offer services for planning, developing, creating and managing the processes for creating durable images by recording light or through electromagnetic radiation by means of an image sensor or chemically by means of a light sensitive photographic film. It includes editing, processing and presenting pictures. Photographic services include school portraits, wedding photography, special occasions and event photography. Photographic services establishments undertake processes where human capital is the major input. They make available the knowledge and skills of their employees, often on an assignment basis, where an individual or team is responsible for the delivery of services to the client.
Trends In The Global Photographic Services Market
Photographers and service providers are increasingly exploring opportunities in niche markets to increase market value and customer base. Expertise and specialization in fields of sports, events, landscapes, wildlife and street photography, are significantly gaining popularity. Companies and individuals are focusing on aerial photography, babies, pets, fashion, travel, and photo journalism. This trend is also helping companies market their services to targeted audiences and reducing operating costs. Working in niche markets enable photographers to command comparatively high prices for their services and specialization, thereby increasing profitability.
Global Photographic Services Market Segments:
The global photographic services market is further segmented based on type, application and geography.
By Type: Portrait Studios Services, Commercial Studios
By Application: Children, Youth, Adult
By Geography: The global photographic services market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, the North America photographic services market accounts for the largest share in the global photographic services market.
Subsegments Covered: School Photography Services, Personal Photography Services, Wedding Photography Services, Other Photography Services
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Photographic Services Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides photographic services market overviews, analyzes and forecasts market size and growth for the global photographic services market, photographic services market share, photographic services market players, photographic services market segments and geographies, photographic services market’s leading competitors’ revenues, profiles and market shares. The photographic services market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
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Data Segmentations: Market Size, Global, By Region And By Country; Historic And Forecast Size, And Growth Rates For The World, 7 Regions And 12 Countries
Photographic Services Market Organizations Covered: Lifetouch Inc; Studio Alice Co Ltd; Getty Images Inc; Portrait Innovations Inc; Cherry Hill Photo Enterprises.
Regions: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
Countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
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