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).
The restraining factors such as high costs of industrial photo printers can lead to slow down the market growth. Also, the impact of coronavirus had largely affected the Photo Printing Market in the initial years. However, with the various positive factors, the market will regain its growth in the forthcoming years. Hence, the report covers necessary information about the market in the upcoming period that will benefit the stakeholders and the market players.
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.
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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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