According to our latest market study on “Photo Printing Market 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); and Geography,” the market was valued at US$ 14,769.9million in 2019 and is projected to reach US$ 27,335.3million by 2027; it is expected to grow at a CAGR of 8.3% from 2020 to 2027.
Photo printing involves the use of paper, cards, cardboards, and articles. The growing use of smartphones, tablets, and digital cameras is leading to high-quality photo-capturing capabilities, which drives the growth of the photo printing market. Increasing demand for photo printing for decorative purposes is also influencing the growth of the market. Factors such as the growing adoption of photo printing products and services, and increasing inclination toward variable data printing and customization are fuelling the growth of the photo printing market. The development of advanced technologies in photo printing and the availability of instant printing technologies are also fueling the photo printing market growth.
North America and Europe are currently dominating the photo printing market, together accounting for ~70% of the global market. The rising trend of `content sharing across social media platforms is indirectly affecting 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.
In Europe, the photographic printing industry has a long tradition. Increasing numbers of startups offering graphic printing services are expected to drive market growth in this region during the forecast period. LALALAB, a Paris-based startup, aims at making photos stored on telephones easy to print. The app is available to iPhone and Android users, and its straightforward interface allows the user to order premium shots from phone, which will then be printed and shipped to the user's home. It's one of the most popular and a top-rated photo-printing applications in Europe, with over 7 Million downloads. Further, the availability of POD services is also likely to drive the market growth, as it improves the printing quality and provides the number of print copies required in a short time. This increasing preference for POD services will support the growth of the European Union photographic printing market during the forecast period.
Impact of COVID-19 on Photo Printing market
The US is an early adopter of the photo printing technology, and thus, is one of the largest users of it. The growing market for tablets and smartphones is expected to drive the US photo printing market in the coming years. The launch of smartphones from companies such as Samsung and Sony, among others, has fueled this market. However, the recent COID-19 pandemic has worst affected the US with >1,527,664 confirmed cases and >90,978 deaths as per Worldometer. The COVID-19 crisis is affecting the industries worldwide and the global economy is anticipated to take a worst hit during 2020, with impact lasting in 2021 as well. The outbreak has created significant disruptions in primary industries such as electronics & semiconductor, and retail and ecommerce. The sharp decline in digital camera manufacturing industry is impacting the growth of global photo printing market. The factory shutdowns, travel bans, trade bans, and border lockdowns to combat and contain the disease transmission have impacted both smartphone and camera manufacturing.
Photo Printing Market - Geographic Breakdown, 2019
Photo Printing Market to Grow at a CAGR of 8.3 % to reach US$ 27,335.3 Million from 2020 to 2027
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The report segments the global photo printing market as follows:
Global Photo Printing Market – By Product Type
- Prints
- Wall Art
- Cards
- Photo Gifts
- Photo Books
- Calendars
- Others
Global Photo Printing Market – By Type
- Film and Offset Printing
- Digital Printing
Global Photo Printing Market – By Distribution Channel
- Retail
- Online
- Instant Kiosk
By Geography
- North America
- US
- Canada
- Mexico
- Europe
- France
- Germany
- Italy
- UK
- Russia
- Rest of Europe
- Asia Pacific (APAC)
- China
- India
- South Korea
- Japan
- Australia
- Rest of APAC
- Middle East and Africa (MEA)
- Saudi Arabia
- UAE
- South Africa
- Rest of MEA
- South America (SAM)
- Brazil
- Argentina
- Rest of SAM