Photo Printing Market Forecast to 2027 - COVID-19 Impact and Global Analysis by Product Type (Prints, Wall Art, Cards, Photo Gifts, Photo Books, Calendar, and Others); Type (Film and Offset Printing, and Digital Printing); Distribution Channel (Retail, Online, and Instant Kiosk)
Publication Month: May 2020 | Report Code: TIPTE100000362 | No. of Pages: 186 | Category: Electronics and Semiconductor | Status: Published
The photo printing market was valued US$ 14,769.9 million in 2019 and is expected to reach US$ 27,335.3 million by 2027; it is estimated to grow at a CAGR of 8.3% during 2020–2027.
North America accounted for the largest market share in 2019 due to the rising trend of content sharing across social media platforms, which indirectly affects the growth of the photo printing market in this region. Moreover, the US and Canada report high purchase rate of mobile/portable photo printers for individual usage. Asia-Pacific is expected to be the fastest-growing market for photo printing during the forecast period on the back of the innovation in digital cameras by companies such as Sony Corporation and Panasonic Corporation, enabling consumers to directly print their photos on albums, merchandise, wall decor, mugs, cards, and gifts. China and other developing Asian economies are expected to witness significant growth opportunities shortly, along with the Southeast Asian countries. This growth is primarily attributed to the thriving e-commerce sector. The growing popularity of smartphone applications to capture and share photos is identified as another key factor in boosting the growth of the market. Furthermore, the continuous improvement of broadband infrastructure and wireless connectivity networks would fuel market growth in the next few years. Further, Asia Pacific is followed by the Middle East and Africa, and South America.
Impact of COVID-19 Pandemic on Photo Printing Market
In US, the huge increase in the number of confirmed cases and rising reported deaths in the country are affecting both manufacturing and sales of smartphones and digital cameras. The factory and business shutdowns across the US, Canada and Mexico are impacting the adoption of photo printing equipment. North America is home to a large number of manufacturing and technology companies, and thus, the country is likely to witness severe impact of the COVID-19 outbreak in 2020, which is estimated to last in 2021as well. Moreover, the critical situation in the US is expected to hamper the photo printing market growth in North America in the next few quarters.
Lucrative Regional Photo Printing Market
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Market Insights- Photo Printing Market
Booming E-commerce Sector Fueling Photo Printing Market Growth
E-Commerce is a giant platform that is proliferating at an unprecedented rate globally. Irrespective of their age, consumers prefer to shop from various e-stores and are inclined toward customized products and solutions. Online shopping is far more convenient than the physical shopping at brick and mortar stores. Further, there are a lot of websites offering photo printing solutions globally. It has incrementally become convenient and simple finding anything on an e-store that a consumer wishes to buy immediately. In the coming years, the e-commerce industry is likely to grow at a most significant pace of all time on the back of major current and upcoming technologies. The rate of online shopping has been increasing at an exponential rate, and this is driving the e-commerce industry at a prominent extent. The websites providing photo printing services are increasingly involved into entirely customizing the articles, and these websites also offer a pictorial representation of the final product. This has created interest among the target audience as they get to know the illustration of the end product and can further modify the requirements. Thus, booming e-commerce sector is massively propelling the market for photo printing worldwide.
Product Type-BasedInsights- Photo Printing Market
Based on product type, the photo printing market is segmented into Prints, Wall Art, Cards, Photo Gifts, Photo Books, Calendars, and Others. The prints segment led the market in 2019, due to increasing number of apps offering innovative printing ideas and designs.
Photo Printing Market, by Product Type– 2019 and 2027
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Type-BasedInsights- Photo Printing Market
Based on type, the photo printing market is segmented intofilm and offset Printing, and Digital Printing. In 2019, digital printing segment led the photo printing market, and the segment would continue to grow as it allows a greater variety of printing services tailored to the recipient demand to be produced economically. Moreover, the content can be determined substantially more closely to the end-user.
Distribution Channel-Based Insights- Photo Printing Market
Based on distribution channel, the photo printing market is segmented intoretail, online, instant kiosk, and others. The online segment led the photo printing market in 2019. Online distribution channel includes the sale of photo products or printing using company websites or mobile applications via an online medium. Snapfish, Cimpress N.V., Bay Photo Inc., and Shutterfly, Inc. are a few companies leading the online photo printing and merchandise sector.
Strategic Insights
The market players focus on new product innovations and developments by integrating advanced technologies and features in their products to compete with the competitors.
- In 2020, FujiFilms announced its new instax mini 11 model, which offers simple operability, stylish design, and premium-quality instant photo prints.
- In 2019, FujiFilms introduced Smartphone printer “instax mini Link” that generates high-quality instax prints of pictures saved in smartphones, with the help of dedicated app using Bluetooth.
Photo Printing Market – By Product Type
- Prints
- Wall Art
- Cards
- Photo Gifts
- Photo Books
- Calendar
- Others
Photo Printing Market – ByType
- Film & Offset Printing
- Digital Printing
Photo Printing Market – By Distribution Channel
- Retail
- Online
- Instant Kiosk
Photo Printing Market- Companies Profiles
- Fujifilm Corporation
- Adorama Camera, Inc.
- Bay Photo Lab
- Digitalab Ltd.
- Nations Photo Lab
- Walgreens Co.
- Snapfish
- Mpix
- Shutterfly, Inc.
- Walmart Photo
The List of companies - Photo Printing Market
- Fujifilm Corporation
- Adorama Camera, Inc.
- Bay Photo Lab
- Digitalab Ltd.
- Nations Photo Lab
- Walgreens Co.
- Snapfish
- mpix
- Shutterfly, Inc.
- Walmart Photo
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the globalphoto printing market.
- Highlights key business priorities in order to assist companies to realign their business strategies.
- The key findings and recommendations highlight crucial progressive industry trends in the globalphoto printing market, thereby allowing players across the value chain to develop effective long-term strategies.
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
- Scrutinize in-depth globalmarket trends and outlook coupled with the factors driving the market, as well as those hindering it
- Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution
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