Global Stock Images & Videos Market Research Report 2020-2029

INDUSTRY INSIGHTS

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. The 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. Furthermore, factors such as animation production, blockchain technology, artificial intelligence (AI), and machine learning (MI) in stock content substantially contribute to stock images and videos market growth. Both professionals and amateurs utilize stock images and videos for marketing materials, presentations, blogs, social media posts, and creative projects.

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. Also, the use of stock images and videos is rising due 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.

Consumers 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. Moreover, 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.

KEY TAKEAWAYS

1. The global stock images and videos market 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.
2. Based on product type, in 2023, the stock images market dominated the stock images and videos market. The rising wide range of applications, including web design, print media, social media posts, presentations, and more, are growing the demand for stock images.
3. Based on the source the macrostock segment dominated the global market. Macrostock agencies offer premium, high-resolution images and videos produced by professional photographers and videographers.
4. Based on license, the RM (Rights Managed) segment dominates the stock images and videos market. It grants exclusive and specific usage rights to the buyer, with the licensing fee typically determined by factors such as media size, resolution, duration, intended use, and distribution.
5. Based on the pricing model, the subscription segment dominates the market. This model is popular among frequent users such as large enterprises, media companies, and agencies that require a high volume of images.
6. By application, the commercial segment dominates the global stock images and videos market. The commercial market is witnessing a shift from billboards to digital media and TV, as consumers spend more time at home translating to screen-based opportunities.
7. By end-user, the marketer's segment dominates the industry share. Marketers drive demand by actively seeking high-quality visual content that aligns with their specific needs and campaigns.
8. North America holds a dominant position in the global stock images and videos market. 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.

MARKET TRENDS

1. The animation industry has experienced tremendous demand for 3D computer animation in recent years. Various causes have fueled this tendency, including technological developments, the rising popularity of animated films and series, and the rise of the gaming industry.
2. With the rise of OTT platforms, there has been an increasing demand for high-quality and diverse video content, including stock footage that contributes to the growth of the stock images and videos market. Owing to the growing demand for binge-watch content such as web series, films, and documentaries from audiences, coupled with shooting constraints in the filmmaking industry, there has been a massive demand for stock footage from the OTT industry.
3. AI is being utilized to improve stock photography, including AI-powered picture search and organizing. AI is impacting stock photography through picture augmentation and editing. AI systems can now fix photos, remove blemishes, change exposure, and other modifications automatically.
4. The growth of digital platform integration is a major driving force behind the expansion of the stock images and videos market. As digital platforms and services grow and diversify, the need for high-quality visual content is becoming increasingly important.

MARKET DRIVERS

1. Traditional advertising revenues that mandate the use of images are phasing out and being replaced by digital storytelling tools such as videos, photography, drones, and interactive graphics, creating more engaging communication.
2. The rise of social media and digital platforms has significantly boosted the popularity of photojournalism. Platforms such as Instagram, Facebook, and Twitter are ideal for sharing powerful images that can go viral and reach a global audience.
3. The use of smartphones and tablets, the spread of wireless networks, high internet speed, and the emergence and growth of social media networks have laid the groundwork for the explosion of visual content.

INDUSTRY RESTRAINTS

With the increasing availability and ease of use of smartphones and other digital devices, people are creating and sharing their content on social media platforms and other websites. This has led to a decrease in the need for stock images and videos, as businesses and individuals can access a wide range of user-generated content that is often more authentic and relevant to their specific needs. Also, the use of images outside legal boundaries has been an issue in the stock images and videos market, which has only intensified with the advent of digital technology. The opportunities to infringe copyrights are ubiquitous and a good chunk of these are unintentional.

The number of images uploaded has far exceeded the demand, thereby creating a fierce battle between photographers and reducing the frequency with which revenue is generated from their images. Moreover, visuals have been known to have a limitless future. However, with the consumption generation growing and flitting from screen to screen, and the use of multiple devices within a short time becoming more commonplace, the visual space has evolved to become hyper-busy.

SEGMENTATION INSIGHTS

INSIGHTS BY PRODUCT TYPE

The global stock images and videos market by product type is segmented into stock images and stock videos. With the widespread adoption of digital platforms and increasing internet penetration, there is a growing need for visual content across various online channels. Businesses, marketers, and content creators rely on stock images to enhance their online presence, engage audiences, and deliver impactful messages effectively. In 2023, the global stock images market dominated the global industry. This is due to the rising range of applications, including web design, print media, social media posts, presentations, and more. Furthermore, social media platforms continue to prioritize video content, leading businesses to invest in stock videos for impactful social media campaigns. Videos are effective in capturing attention, driving shares, and increasing user engagement across platforms such as Facebook, Instagram, TikTok, and YouTube.

INSIGHTS BY SOURCE

In 2023, the macrostock segment accounted for the highest share in the global stock images and videos market. The macrostock is a fragment of traditional agencies, which have either been bought out or fused under one name. Macrostock agencies offer premium, high-resolution images and videos produced by professional photographers and videographers. Many macrostock images are available under exclusive or rights-managed licenses, ensuring that the content is not widely distributed and maintains its uniqueness. 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. Microstock agencies rely on contributions from a large pool of photographers and videographers. This model not only provides a diverse range of content but also offers opportunities for creatives to earn money from their work.

INSIGHTS BY LICENSE

RM licenses provide advantages such as exclusivity and precise control over media use, making them ideal for critical or sensitive projects. However, they tend to be pricier compared to Royalty-Free licenses, which offer greater flexibility for multiple projects without extra costs. RF licenses provide flexibility and cost-effectiveness compared to rights-managed (RM) licenses, making them popular for a wide range of uses, including advertising, websites, blogs, presentations, and more.

Vendors are increasingly classifying various bodies of work based on their quality and pricing images accordingly. Many platforms pay artists royalties ranging from 30% to 50%, while traditional players offer lower rates around 15% to 30%. 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 model is a cost-effective solution for users who need daily content as subscribers pay a predictable fee, making budgeting easier compared to per-image licensing. For frequent users requiring multiple images, subscriptions often prove more economical than purchasing individual licenses. Also, the subscription 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 downloads per month or a set period. In 2023, the subscription pricing model held the largest market share. Vendors are expanding their collections to include diverse content types beyond photos, such as illustrations, vectors, videos, and even 3D assets. This broadens the appeal of subscription plans to a wider audience of creatives. However, the pay-per-download segment is expected to grow at a high CAGR rate of 7.97% during the forecast period, as pay-per-download allows users to pay only for the images they need, making it cost-effective for occasional users or those with unpredictable image needs.

INSIGHTS BY APPLICATION

In 2023, the commercial application was a high revenue generator in the stock images and videos market. Stock images and videos are 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. It helps businesses attract attention, convey messages effectively, and enhance visual appeal to drive engagement and conversions. In today's digital age, businesses are increasingly relying on online platforms for marketing and communication. This shift has fueled a growing need for high-quality visuals that can effectively capture audience attention and convey brand messages. Furthermore, the editorial application segment of stock images and videos is experiencing rapid growth in the industry. The growth is attributed to the rise of online news platforms, blogs, and digital publications, which drive the demand for high-quality visual content to accompany articles and stories.

INSIGHTS BY END-USER

The global stock images and videos market by end-user is segmented into marketers, film & tv producers, media & publishing companies, and business & individual creators. In 2023, marketers accounted for the largest revenue share. Marketers drive demand by actively seeking high-quality visual content that aligns with their specific needs and campaigns. Marketers play a crucial role in driving business growth by understanding consumer behavior, identifying market opportunities, and crafting compelling messages that resonate with potential customers. Furthermore, the growing demand for improving movie experience is expected to boost the market for stock images and videos from films and TV producers during the forecast period. Also, the online publishing industry's evolving demands, from investing in VR and AR technologies, like Ask the Expert, to refocusing on text-based content, present both challenges and opportunities for the market.

GEOGRAPHICAL ANALYSIS

North America holds a dominant position in the global stock images and videos market. The increasing digitalization in the region supports the demand for stock images and videos, accounting for 40% of the global market share. Furthermore, Europe is projected to grow at a CAGR of 6.56% in the global stock images and videos market during the forecast period. Influencers are gaining traction in Spain and Italy, while media companies are expanding their audiences in the UK, Germany, and France. This factor reflects diverse preferences in sourcing images across respective countries.

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. Furthermore, the MEA and Latin America region are experiencing sluggish growth, 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.

VENDOR LANDSCAPE

The global stock images and videos market remains highly consolidated, largely shaped by the consumer-facing business model introduced by Getty Images and Shutterstock, emphasizing low prices and high volume. Larger agencies like Getty Images often represent smaller agencies, leveraging their exclusive content and expanding their market reach. Furthermore, to gain a competitive edge, vendors must focus on developing cutting-edge technologies and staying updated with the upcoming innovations in the industry. Thus, vendors invest in R&D to develop new technologies, improve functionality, and enhance user experience.

The major vendors that dominate the global stock images and videos market are Getty Images, Shutterstock, and Adobe Stock. Several vendors in this market have a global presence and have therefore created strong brand images for their products. Vendors are increasingly utilizing AI and machine learning to enhance content curation, categorization, and search functions by analyzing images and videos for more accurate tagging and metadata generation.