PUBLISHER: Allied Market Research | PRODUCT CODE: 1472262
PUBLISHER: Allied Market Research | PRODUCT CODE: 1472262
The global photo as a service market was valued at $48.2 billion in 2022, and is projected to reach $74.2 billion by 2032, growing at a CAGR of 4.5% from 2023 to 2032.
The photo as a service market includes professional services offered by photographers and photography studios to meet various visual content needs. This includes school photography, portrait photography, event coverage, commercial photography for businesses, product photography, weeding photography, theme park and cruise line photography, and photo restoration.
Rise in demand for high-quality visual content has fueled the growth of the photo as a service market. In today's digital age, businesses, brands, and individuals rely heavily on visually engaging content to captivate their audience and stand out in crowded online spaces. Professional photography services play a crucial role in meeting this demand by providing expertly crafted images and videos tailored to clients' specific needs and preferences. Whether it is product photography for e-commerce, corporate headshots for professional branding, or event coverage for special occasions, photographers offer valuable expertise and creativity to enhance visual storytelling.
According to the U.S. Census Bureau projections indicating a 4 % increase in photographer employment between 2022 and 2032, align with the average growth rate across all occupations. With 148,900 photographers employed in 2022 and projections foreseeing a consistent rise to 155,000 annually, such factors significantly surged market demand for photo-as-a-service offerings. These professionals offer a flexible and diverse range of services, catering to various client needs and preferences. Their presence in the market increases accessibility to photography services for individuals, small businesses, and organizations.
Popularity of drone photography has significantly surged the market demand for the photo-as-a-services. Drones offer unique perspectives and aerial views that were previously inaccessible, making them increasingly sought after for various applications such as events, weddings, real estate, construction, and cinematography. Clients expect drone footage to enhance their projects, events, or marketing materials. This surge in demand has opened new avenues for photographers specializing in drone photography, leading to increased revenue streams and market opportunities. In addition, the versatility and creativity offered by drone technology have attracted a broader range of clients, further driving the growth of the photo as a service market.
The statistics from the Federal Aviation Administration (FAA) indicate a significant number of drones registered as of December 31, 2023. Specifically, there were 790,918 drones registered, out of which 369,528 were designated for commercial purposes, and 416,095 were for recreational use. The widespread adoption of drones across various sectors, including weeding, events and recreational activities further contributes to surge in demand for drone photography services in the photo as a service market.
The photo market is segmented into type and region. On the basis of type, the market is segmented into school photography, events photography, wedding photography, theme park & cruise line photography, photo restoration, and others. Region-wise, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, UK, France, Italy, Spain, and rest of Europe). Asia-Pacific (China, Japan, India, South Korea, Australia, and rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Saudi Arabia, UAE, Argentina, and rest of LAMEA).
The major players operating in the global photo as a service market are Lifetouch Inc., Cherry Hill Programs, Inc., George Street Photo and Video, LLC, Strawbridge Studios, Inc., Studio Alice Co. Ltd., HR Imaging Partners Inc., Bella Baby Photography, LLC, Fisher Studios Ltd., MSP Photography Pty Ltd, and Carma Media Productions LLC.
Additional benefits you will get with this purchase are:
Possible Customization with this report (with additional cost and timeline, please talk to the sales executive to know more)