According to Technavio Research Report,” Stock Video Market by application (editorial and commercial) and geographic regions (North America, Europe, APAC, MEA, and South America) is witnessed to grow USD 217.52 million, at a CAGR of 7% from 2019 to 2023.”
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Technavio has published a new market research report on the global stock video market from 2019-2023. (Graphic: Business Wire)
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Global Stock Video Market: Growing demand for stock videos captured by drones
The introduction of drone technology has had a significant impact on the shooting of aerial videos and have not only lowered the costs but have also made it possible to produce shots that were previously nearly impossible. Unmanned aerial vehicles (UAVs) or drones are considered to be relatively inexpensive and produce high-quality videos. Stock videos captured through drones are extensively used in filmmaking by creating a new era in visual content creation. Some vendors such as Getty Images, Shutterstock, and Footage Firm offer stock footage captured by drones. For instance, in June 2018, Shutterstock announced a new distribution partnership with Dronebase Inc., which will add a large volume of professional-quality, 4K aerial stock footage to Shutterstock’s video collection. The rise in the availability of such stock videos captured by drones is likely to increase the demand for stock videos among end-users.
“Currently, many video content creators are eagerly exploring the use of 360′ and virtual reality stock videos. 360′ Immersive videos offer various possibilities in terms of audiovisual content, not just for film and television production, but also for advertising and branding. Furthermore, nowadays, cameras are capable of recording incredibly realistic footage in very high definition. The use of new technologies to capture stock videos is likely to increase their demand during the forecast period,” says a senior analyst at Technavio.
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Global Stock Video Market: Segmentation analysis
This market research report segments the global stock video market by application (editorial and commercial) and geographic regions (North America, Europe, APAC, MEA, and South America).
The North American region led the market in 2018, followed by APAC, Europe, MEA, and South America, respectively. During the forecast period, the North American region is expected to maintain its dominance in the global market and register the highest incremental growth due to the presence of a large number of vendors.
Global Stock Video Market: Growing use of social media platforms
The increase in the use of mobile devices and smartphones has also led to a rise in the use of social media among users. As a result, it has also encouraged advertisers to shift and create awareness about their products and services over social media platforms. For instance, stock media agencies are investing in expanding and enhancing their libraries, as there is a constant need for fresh video content for use in social media. Many advertisers also offer personalized content by recording the purchase history, analyzing the data of users, and using smart technology to display the visual content as per the requirement in the market. The rise in the use of direct-to-consumer marketing through social media platforms will increase the need for various stock videos, thereby helping marketers reach a higher number of consumers worldwide as well as driving the growth of the global market.
Few Major Vendors in the Stock Video Market are:
- Adobe Inc.
- Footage Firm Inc.
- Getty Images Inc.
- Pond5 Inc.
- Shutterstock Inc.
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