The global stock images market is expected to post a CAGR close to 8% during the period 2019-2023, according to the latest market research report by Technavio.
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Technavio has published a new market research report on the global stock images market from 2019-2023. (Graphic: Business Wire)
A key factor driving the growth of the market is the increased popularity of stock images for digital and social media marketing. Rising Internet penetration and the growing use of smart gadgets such as smartphones and tablets have resulted in growing exposure to social and digital media platforms. Moreover, the popularity of stock images on social media platforms has been increasing. This has increased the visibility of images and enhanced the growth prospects for stock image providers. Social media has become one of the biggest platforms for advertisements, marketing, and customer acquisitions. This has further encouraged different marketing agencies to leverage these platforms for the advertisement of any product or service. These developments also increase the demand for stock images across the globe for ads and promotions.
As per Technavio, the growing use of technologically advanced devices for photography will have a positive impact on the market and contribute to its growth significantly over the forecast period. This global stock images market 2019-2023 research report also analyzes other significant trends and market drivers that will affect market growth over 2019-2023.
Global stock images market: Growing use of technologically advanced devices for photography
Currently, many photographers, as well as stock image service providers, are using technologically advanced photography equipment, as it offers high defined and featured images. Earlier, photographers used to face several environmental issues, which encouraged photographic equipment manufacturers to introduce distinct and advanced equipment. Advanced photography equipment not only improves the image quality but also enables photographers to add effects to their images. The advent of advanced photography equipment has made it easy and convenient for photographers to shoot different images of their choice without any external obstacles, thereby driving market growth for the next few years.
“In the e-commerce market, stock images are used to display the visual picture of products or services offered on a particular platform. The e-commerce players look forward to showcasing their products or services with bright and lucrative effects for which technologically advanced devices of photography are used. It is expected that the growth of the global e-commerce market will consecutively drive the growth of the global stock images market during the forecast period,” says a senior analyst at Technavio.
Global stock images market: Segmentation analysis
This market research report segments the global stock images market by application (editorial and commercial), by license model (RM and RF), by image source (macrostock and microstock) and geographical regions (North America, Europe, APAC, MEA, and South America).
The North American region led the market in 2018, followed by Europe, APAC, MEA, and South America, respectively. However, during the forecast period, the APAC region is expected to register the highest incremental growth due to the sprawling demand for stock images for commercial applications.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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