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STOCK IMAGES AND VIDEOS MARKET SIZE IS TO REACH $4 BILLION BY 2023, GROWING AT A CAGR OF OVER 5% DURING THE FORECAST PERIOD
Stock Images and Videos Market Size, Share, & Trends Analysis Report By Image Source (Macrostock, Microstock), By Application (Commercial, Editorial), By Product (Still Images, Footage), By License Model (RM, RF), By Geography (North America, Europe, APAC, Rest of the World) Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2018 – 2023
The exponential use of imagery for various enclaves in traditional marketing and on mainstream channels is propelling the growth of the global stock images and videos market. The visual content industry is supported by the dynamism and changing demands, stubbornly applying the same style of functioning, and imagery to evolve the marketing landscape. The growing trend of visual-centric marketing and content delivery is paving the evolution of the global market.
The advent of digital cameras is driving the photography craze among amateurs looking to make quick cash in the market. The demand for stock photos, high-resolution images, is augmenting the development of the market. With the growing popularity of RF licenses and subscription services will boost the demand in the global market. The use of visual plays to engage consumers in commerce and communication will drive the growth of the market over the next few years. Smartphones are considered as one of the prominent tools of modern photography in this digital media age in the market. Top companies such as Scoopshot and EyeEm are driving a trend for on-demand, crowd-sourced images that allows the photographers to deliver for assignments and earn from these images that are licensed. Furthermore, vendors are offering personalized content by the recording of purchase history, analyzing data of users, and using smart technology to display the visual content as per their requirements in the market. Such initiatives will drive the transformation of the market.
The global stock images and videos market size is estimated to generate revenues of more than $4 billion by 2023, growing at a CAGR of around 5% during 2018-2023.
The increasing growth of platform integrations is contributing to the revenues in the global stock images market over the next few years. The increasing focus on interfaces and interactions between multiple systems in the landscape that can help with streamlining projects considerably is one of the primary factors augmenting the growth of the market. The platform integrations provide an intuitive search experience, facilitating easier and faster utilization of imagery through the integration of image libraries across applications in the market. The use of these innovative platforms is enabling end-users to generate products through seamless utilization of their resources in the global market. Unified locations put all the control in the hands of the creators, helping reduce costs of having to source content from outside, and ridding users of the trouble with work coming to a grinding halt caused by dependency and delays. The top players are offering APIs to introduce their libraries to an extensive and relevant user base in the global stock images and videos market.
Market - Segmentation
This market research report includes a detailed segmentation of the market by the image source, application, product, license model, and geography.
By Image Source
Macrostock to promote arts and technicalities in the market during the forecast period
Macrostock dominated more than half of the market share in 2017, growing at a CAGR of over 4% during the forecast period. The extensive use of macrostock images by mainstream businesses such as magazines, newspapers, advertising agencies, and the entertainment industry is propelling the demand in this segment. The trend towards promoting personalized content and establishing brand-specific USPs is encouraging companies to invest in the development of macrostock images. These sources will allow vendors to increasingly auditing their content and aiming to serve tailored imagery to their customers in the market. The players are offering creators easy access to stock through customer-facing dashboards and are adopting innovative technologies to provide improved visual searches.
Digitalization to drive demand for commercial applications in the global stock images and videos market
The commercial segment occupied more than 75% of the stock images market share in 2017, growing at a CAGR of approximately 5% during the forecast period. Commercial content is used for promoting, marketing, and advertising products and services on traditional ad mediums such as billboards and magazines, digital mediums such as blogs, websites, and collateral such as brochures in the global market. Digitalization is improving the interactivity of various platforms through the use of still and moving images. The boom of the streaming services such as Hulu, Amazon Prime, and Netflix will drive the demand for footage and pictures. The growth of the retail sector will also have a positive impact on the global stock images market during the forecast period.
E-commerce business uses the largest amount of still photos
Still image segment dominated the largest market share in 2017, growing at a CAGR of around 5% during the forecast period. The growing use of white background studio shots images for various e-commerce websites is driving the growth of this segment. The adoption of new business models and advanced technologies to offer personalized emails and other marketing materials to consumers will drive the demand for still images in the global market. The introduction of cross-agency platforms that integrate both macro and microstock through the use of neural networking is just making the whole job of having to decide between different sites hassle-free will revolutionize the global market. Moreover, the trend of embedding images with audio, video, and interactivity in still photos will transform the global stock images and videos market.
By License Model
Growing awareness about cost-effective RM licenses to drive sales in the global stock images and videos market
RM occupied the majority of the market share in 2017, growing at a CAGR of more than 4% during the forecast period. The improvements in the quality of imagery, intensified by the need to prevent brand dilution, are one of the major factors promoting the demand in this segment. The trend of creating unique Pinterest boards or Instagram feeds to deliver the essence of the brands and increasing consumer awareness is driving this license model. Various macrostock agencies are increasingly sourcing RM images from partner agencies in the US, the UK, and the German market for their advertising and marketing needs in the market.
Multimedia content to promote the development of North America in the global stock images and videos market
North America dominated the largest market share in 2017, growing at a CAGR of around 5% during the forecast period. The new digital advertising medium Facebook and Google, is one of the major contributors to the North American market. The increasing focus on creating better user experiences to prevent the eroding viewership through the creation of multimedia content will propel the growth of this region. The increasing dependency on visual, interactive storytelling creating opportunities for data visualizations, video, quizzes, slideshows, and polls will help in the development of the North American market during the forecast period. Large companies such as AAA Auto Insurance, Dell, US Bank, Gateway, Microsoft, H&R Block, Samsung, Grayhound use stock photos for a car stereo store, a chat line for teens, a series of books, and an actuary site in the North American market.
Key Vendor Analysis
The global stock images and videos market are very concentrated, and the top four players dominate the market share. The specialist agencies are offering exclusive content and leveraging advanced technologies to intensify the competition in the global market. The vendors are altering the stock photography business by new approaches and models, such as making mobile a platform to sustain the competition. The rapid advances in technology and frequent changes in end-user preferences will encourage players to develop innovative business models in the global market. The increasing number of consolidations and mergers and acquisitions will transform the global stock images and videos market during the forecast period.
The major vendors identified are
- Getty Images
- Visual China Group
The stock images market research report includes in-depth coverage of the industry with growth rates, revenues & forecasts for the following segments:
- Still Images
- North America
- The UK
- South Korea
- South Africa
- Saudi Arabia
KEY QUESTIONS ANSWERED
- What is the global stock images market size and growth forecast?
- What is global stock videos market size and growth forecast?
- What are the key segments of the stock images market research report?
- Which companies demand the stock images and videos
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