Photo Printing Market to Grow at a CAGR of 8.3 % to reach US$ 27,335.3 Million from 2020 to 2027

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
  • Category : Electronics and Semiconductor
  • Status : Published
  • No. of Pages : 186
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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

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

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.

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Photo Printing Market: Strategic Insights

photo-printing-market
Market Size Value inUS$ 14,769.9 Million in 2019
Market Size Value byUS$ 27,335.3 Million by 2027
Growth rateCAGR of 8.3% from 2020-2027
Forecast Period2020-2027
Base Year2020
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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
Report Coverage
Report Coverage

Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered
Segment Covered

Product Type ; Type ; Distribution Channel

Regional Scope
Regional Scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope
Country Scope

Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States

The List of companies - Photo Printing Market

  1. Fujifilm Corporation
  2. Adorama Camera, Inc.
  3. Bay Photo Lab
  4. Digitalab Ltd.
  5. Nations Photo Lab
  6. Walgreens Co.
  7. Snapfish
  8. mpix
  9. Shutterfly, Inc.
  10. Walmart Photo

The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

  1. Data Collection and Secondary Research:

As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.

Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

  1. Primary Research:

The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.

For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.

A typical research interview fulfils the following functions:

  • Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
  • Validates and strengthens in-house secondary research findings
  • Develops the analysis team’s expertise and market understanding

Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:

  • Industry participants: VPs, business development managers, market intelligence managers and national sales managers
  • Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.

Below is the breakup of our primary respondents by company, designation, and region:

Research Methodology

Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.

  1. Data Analysis:

Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.

  • 3.1 Macro-Economic Factor Analysis:

We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.

  • 3.2 Country Level Data:

Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.

  • 3.3 Company Profile:

The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.

  • 3.4 Developing Base Number:

Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.

  1. Data Triangulation and Final Review:

The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.

We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.

We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.

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