Global Photo Printing Market Insight
Global Photo
Printing Market 2020 is estimated
with a valuation of USD 26,113.0 Million by 2023 from USD 13,125.4 Million in
2017, according to the report found by Market Research Future. The report also
reveals that the market is set to grow at a rate of 12.3% during the assessment
period (2018–2023).
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.
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Top Market
Contenders
The significant
players of the global photo printing market are included as Snapfish (US),
Cimpress (Netherlands), Mpix (US), Digitalab (UK), Eastman Kodak Company
(Japan), Perion Network Ltd (Israel), Bay Photo Lab (US), Shutterfly, Inc.
(US), ProDPI (US) and AdorPix LLC (US)
Segmentation of
Market: Photo Printing
The global market
of photo printing has been segmented among the various segments of type,
printing device, and end-use application.
Based on the type
segment, the market has included digital printing and film printing.
By the segment of
the printing device, the market has included mobile type and desktop type.
By the segment of
end-use applications, the market has included online stores, instant kiosks,
retail, and over-the-counter.
Regional Outlook
Europe,
Asia-Pacific, North America, and the Rest of the World are the regions included
in the study of the global market of photo printing regional analysis.
The region of North
America acquired the largest market share back in the year 2017, owing to the
rising trend of content sharing on social media platforms. This has indirectly
impacted the growth of the photo printing market in this region.
In fact, the
purchase rate of mobile or portable photo printers for individual use in the US
and Canada is elevated, which leads to the augmentation of this market. In
fact, the region of Asia-Pacific is also likely to be the fastest-growing
region throughout the estimated period as the innovation in digital cameras by
companies such as Sony Corporation and Panasonic Corporation. These companies
have enabled the consumers to directly print their photos on merchandise,
albums, mugs, cards, wall decor, and gifts. The market in China is likely to
expand at an advanced rate than most of the countries around North America and
Europe at an average year on year growth of nearly 20%.
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