Stock Images & Videos Market - Global Outlook & Forecast 2024-2029

INDUSTRY OUTLOOK

The global stock images and videos market size was valued at USD 5.28 billion in 2023 and is expected to reach USD 7.94 billion by 2029, growing at a CAGR of 7.05% during the forecast period. Stock images and videos encompass the licensing and distribution of digital photographs, illustrations, vectors, and videos through online platforms and stock agencies. Stock images are available under different licensing models, including royalty-free and rights-managed, catering to the varying needs of businesses and individuals seeking visual content for commercial and non-commercial use. The demand for stock images and videos market is poised for significant growth during the forecast period, driven by the rising demand for high-quality visual content across several industries, including advertising, media, publishing, and e-commerce. Further factors such as animation production, blockchain technology, artificial intelligence (AI), and machine learning (MI) in stock content substantially contribute to market growth. Professionals and amateurs utilize stock images and videos for marketing materials, presentations, blogs, social media posts, and creative projects. Thus, the stock images and videos market serves a broad spectrum of customers, including marketers, advertisers, designers, publishers, bloggers, filmmakers, and content creators, offering a vast library of visual assets to meet diverse creative needs.

The use of stock images and videos is rising owing to the availability of a vast selection of quality images and videos. Further, they are increasingly used in creative projects such as videos and film production. For instance, movies in 2022, such as Nope, directed by Jordan Peele, and The Adam Project, a Netflix film starring Ryan Reynolds, utilize stock images and videos for establishing scenes, background shots, and futuristic cityscapes. However, issues such as copyright infringement and quality are significant challenges to the growth of the global stock images and videos market. Also, consumers increasingly seek visual content that can be modified per needs and preferences. Several companies have also focused on creating more personalized products and services. For instance, Adobe Stock is integrated with Adobe Creative Cloud, which offers customizable templates and editorial content, allowing users to create personalized content efficiently. Further, its Adobe Sensei AI technology also helps users find and adapt stock content to fit their specific needs. Hence, such factors drive the demand for editorial stock images and videos.

FUTURE MARKET TRENDS

Increasing Penetration of AI & MI in Stock Content

With the rising demand for high-quality images and videos, the development of AI and MI technologies has witnessed significant growth. These technologies can easily analyze and recognize stock content, which improves the search and discovery of relevant stock visuals based on specific themes, objects, or concepts. Further, a few significant players in the stock images and videos market had also launched or implemented proprietary AI systems, such as Dreamstime, to screen images shared by creators and altered their specifications to fit how the human editor classified images. Additionally, in 2023, Shutterstock expanded its partnership with OpenAI through a new six-year agreement to provide high-quality training data for OpenAI models, propelling transformative capabilities for brands, digital media, and marketing companies.

Rapid Shift to Vertical Formats

In the world of digital content creation, there's a seismic shift happening with the rise of vertical formats in recent years. Vertical format offers several benefits for businesses looking to improve their content marketing strategies. One of the most significant advantages is that it provides a better user experience on mobile devices, where most people consume video content. As a result, customers are increasingly expected to borrow from pre-existing images and videos from the vertical aesthetic. Getty Images, Dreamstime, Adobe Stock, Shutterstock, Alamy, and more are expanding the base of vertically styled photo and video offerings to leverage the demand in the stock images and videos market. For instance, in 2021, Canva integration with Instagram stories allows users to create customized stories using Canva's design tools and directly publish them into Instagram.

SEGMENTATION INSIGHTS

INSIGHTS BY PRODUCT

Based on product type, the global stock images and videos market segments into stock images and stock videos. In 2023, the stock images market dominated the global market. The rising wide range of applications, including web design, print media, social media posts, presentations, and more, are boosting the demand for stock images. Also, the increasing visual literacy of the global audience is driving up the demand for stock images. Businesses are shifting towards more flexible and cost-effective channels like programmatic advertising, where the availability of impressions and consumer engagement is on the rise. B2B brands are increasing their digital advertising expenditures to compensate for leads lost during events, while streaming services, online news platforms, and other services, such as online food delivery, are experiencing higher advertising investments. As consumers spend more time on news and media content, these channels have seen a surge in advertising purchases.

INSIGHTS BY SOURCE

The global stock images and videos market by source is segmented into macrostock and microstock. In 2023, the microstock segment will dominate the global market and is expected to add more than USD 1.3 billion in revenue by the end of 2029. For brands that seek to maintain uniqueness in a market where social influence is widespread and aspirational brands appear, the macro stock seems more appealing. However, microstock is anticipated to grow rapidly during the forecast period. The demand for royalty-free stock footage licenses and unlimited downloads makes it ideal for users looking for quality stock content.

INSIGHTS BY LICENSE

The RM (Rights Managed) license segment holds the most significant share of the global stock images and videos market in 2023. RM grants exclusive and specific usage rights to the buyer, with the licensing fee typically determined by factors like media size, resolution, duration, intended use, and distribution. RM licenses provide advantages such as exclusivity and precise control over media use, making them ideal for critical or sensitive projects. Further, with the convergence of digital and linear capabilities, premium video is increasingly finding its footing in marketing. The shift towards offering premium video is gradually gathering pace to engage users who seek extremely distinctive content, and this is expected to drive the growth of the RM license faster than the image segment.

INSIGHTS BY PRICING MODEL

The subscription pricing model segment dominated the global stock images and videos market share in 2023. This model is popular among frequent users such as large enterprises, media companies, and agencies that require a high volume of images. Customers pay a recurring fee (monthly or annually) for access to a certain number of monthly downloads or a set period. Additionally, it is a cost-effective solution for users who need daily content as subscribers pay a predictable fee, making budgeting easier than per-image licensing. For frequent users requiring multiple images, subscriptions are more economical than purchasing individual licenses.

INSIGHTS BY APPLICATION

The global stock images and videos market by application is segmented into commercial and editorial. The two applications typically differentiate how the content is permitted to be used. In 2023, the commercial sector will hold a significant share of the global stock images and videos market owing to the rising number of filmmakers, photographers, and drone operators. Stock images and videos are also extensively used in digital marketing campaigns across websites, social media platforms (such as Facebook, Instagram, Twitter, and LinkedIn), email marketing, display ads, and digital banners. They help businesses attract attention, convey messages effectively, and enhance visual appeal to drive engagement and conversions. However, the editorial segment is anticipated to have an absolute growth rate of 56.02% because of the rising application of illustrated editorial content, such as news coverage, essays, and documentaries. Additionally, technological advances in digital photography and video production have improved the quality and variety of available editorial stock media, further stimulating market growth.

INSIGHTS BY END USERS

The global stock images and videos market by end users is segmented into marketers, film & tv producers, media & publishing companies, and business & individual creators. The marketers segment holds the most prominent global market share in 2023. Marketers drive demand by seeking high-quality visual content that aligns with their needs and campaigns. Marketers often require diverse and compelling imagery to effectively communicate brand messages, enhance advertising efforts, and engage their target audiences across various platforms. Further, the growing demand for improving movie experience is expected to boost the market for stock images and videos from films and TV producers, growing at a CAGR of over 7% during the forecast period. Film and TV producers use stock images in various stages of production to enhance efficiency, reduce costs, and maintain high-quality visual standards. They use stock images to create detailed storyboards and previsualizations.

GEOGRAPHICAL ANALYSIS

North America dominated the global stock images and videos market, accounting for a share of over 40% in 2023. The presence of solid media and advertising companies in the U.S. and Canada has led to regional market growth. The region is also a major hub for advertising, particularly in Internet advertising, which commands the largest share of ad spend. Internet advertising is the fastest-growing medium in North America, while traditional newspapers are experiencing declining ad revenues. Over the past few years, North American advertising has surged significantly, driven largely by cyclical events such as the Olympics and elections. Technological advancements have profoundly impacted the industry, prompting magazines and newspapers to adopt new strategies to adapt to the shift of advertising budgets towards platforms like Facebook and Google, which facilitate ad placements on websites and YouTube videos. Furthermore, Europe's stock images and videos industry is driven by the rising expansion of small businesses (SMEs). For instance, in 2022, as per Eurostats, the value added of EU-27 SMEs increased by 6.7% in the non-financial business sector (NFBS). As a result, these businesses focus on branding and customization, which is anticipated to fuel market growth in the coming years.

APAC is expected to witness the highest growth rate in the global stock images and videos market, driven by the rapid expansion of the creator economy in China and India. Additionally, an increase in industrialization and growth in SMEs are expected to provide enormous possibilities for new entrants inside the region during the forecast period. Further, the MEA and Latin America region are experiencing growth in the stock images and videos market, with countries like the UAE, Saudi Arabia, South Africa, Brazil, and Mexico being the prominent markets. Various industries drive visual content demand, including advertising, marketing media, and web design. As internet penetration increases and societies shift towards knowledge-based economies, these regions invest significantly in digital marketing. Innovative tools such as theming are being employed to promote services and products, thereby increasing advertising expenditures and mitigating some of the declines in demand for traditional visual content.

VENDORS LANDSCAPE

The presence of a mix of well-established brands, emerging players, and niche producers highly consolidates the competitive landscape of the global stock images and videos market. Thus, companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product or service launches, to enhance their presence in the market. For instance, In 2022, Shutterstock acquired Pond5, the largest video-first content marketplace. This acquisition allows Shutterstock to benefit from critical trends fueling demand for video content. Furthermore, the major vendors that dominate the global stock images and videos market are Adobe Stock, Getty Images, and Shutterstock. Several vendors in this market have a global presence, creating strong brand images for their products.