Market Research Future (MRFR) has announced a new release on the global photo printing market. The report provides a comprehensive look at the growth prospects of the global photo printing market over the forecast period on the basis of a detailed analysis of the market’s historical growth trajectory and key drivers and restraints over the historical study period. The report projects the global photo printing market to reach a value of USD 2,693 million by 2022, rising at a steady 5% CAGR over the forecast period from 2017 to 2022.
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Photo printing is the technology used to produce physical or digital prints of photos taken via cameras or, increasingly in the modern age, smartphones. The technology has evolved massively over the last few decades, in line with the technological developments in camera design. The global photo printing market has established a solid position over the last few decades but increasing preference for smartphone photography and digital sharing of photographs is likely to eat into the profit margins of the market over the forecast period. Due to the convenience of digitally sharing photos over social media networks such as Facebook and Instagram, many users now forego the process of producing physical photo prints altogether. This has been a major setback for the photo printing industry in recent years, however, the industry is likely to post stable growth figures nevertheless in the coming years.
In order to remain relevant and profitable in the smartphone age, many photo printing manufacturers have produced instant print kiosks that allow physical printing of photos directly from smartphones. This marketing strategy, and the overall development of photo printers enabled with wireless connectivity, is likely to remain vital for players in the global photo printing market over the forecast period.
The global photo printing market is segmented on the basis of type, application, end use, and region in the report.
On the basis of type, the global photo printing market is segmented into film printing and digital printing.
By application, the global photo printing market is segmented into desktop and mobile phones.
By end use, the photo printing market is segmented into online stores, the retail sector, instant kiosks, and others.
Photo Printing Market Size is segmented into North America, Europe, Asia Pacific, and rest of the world on the basis of region.
North America is likely to remain the top revenue generator for the global photo printing market over the forecast period due to the increasing sales volume of photo merchandise such as albums, photo cards, and canvas prints. The increasing popularity of tourism among American citizens could play a vital role in the development of the photo printing market in the coming years, as the high disposable income of U.S. citizens – mainly older and middle-aged U.S. citizens – has allowed them to travel all over the world, leading to prodigious amounts of photos. This is likely to remain a key driver for the photo printing market in North America over the coming years, as even younger citizens in North American countries, and especially the U.S., have emerged as prolific travelers over the last few decades.
Asia Pacific could exhibit robust growth in the photo printing market over the forecast period due to the growing availability of high-speed internet and high-end smartphone cameras in the region. The growing disposable income of consumers in Asia Pacific has allowed them to purchase higher-end smartphones with advanced camera capabilities, which has led to growing demand for photo printing. The strong presence of camera industry giants such as Canon, Nikon, Sony, Epson, Panasonic, Sigma, Fujifilm, Samsung, and Olympus in Asia Pacific countries is also conducive to strong growth of the photo printing market in the region over the forecast period.
Leading players in the global photo printing market include Eastman Kodak Company, Shutterfly Inc., Bay Photo Lab, AdorPix LLC, ProDPI, Mpix, Digitalab, Snapfish, and Cimpress.
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