APAC to Grow Fastest in the Global Stock Images and Videos Market
Arizton’s recent market research report on the global stock images and videos market identifies Getty Images, Visual China Group, Shutterstock, and Adobe as the leading vendors that are likely to dominate the market during the forecast period. This research report provides a detailed analysis of market segmentation by image source (macrostock and microstock), by application (commercial and editorial), by product (still image and footage), by license model (RM and RF), and by geography (North America, Europe, APAC, and ROW).
The global stock images and videos market are anticipated to reach revenues of around $4 billion by 2023, growing at a CAGR of about 5% during 2018-2023.
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The global stock images and videos market are divided into five major segments that consist of the image source, application, product, license model, and geography.
APAC to grow at the fastest CAGR in the global stock images and videos market during the forecast period
The global stock images and videos market by geography is segmented into North America, Europe, APAC, and ROW. APAC occupied a significant portion of the market share in 2017, growing at a CAGR of around 6% during the forecast period. Digital marketing is gaining immense popularity in India and China, thereby, augmenting the growth of the APAC market. The extensive use of visual content across newsletters, blogs, and deployment of in-store activations and digital media will enable vendors to offer maximum consumer satisfaction and increasing interactions in the APAC market. Multi-million dollar investments in China, South Korea, and India will create the need for new business models in the region. The rising number of partnerships with personalized visual content production companies with a digital-first, omnichannel strategy will transform the APAC region in the global stock images and videos market. Top players are offering benefits to local companies at affordable rates with higher value addition to attract a maximum number of consumers in the global stock images and videos market.
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Footage segment to grow at a considerable CAGR in the global stock images and videos market during the forecast period
The product segment in the global stock images and videos market is classified into still images and footage. Footage segmented dominated a section of the market share in 2017, growing at a CAGR of more than 5% during the forecast period. The rising demand for humanized, emotion-rich, substantial video content making it easy for businesses to engage their customers on social media platforms such as Facebook, Twitter, Instagram, Snapchat, and YouTube are propelling the growth of this segment in the global market.
The trend of hybrid photography format that merges into stock footage is expected to gain immense popularity in the global market over the next few years.
The growing popularity of bite-sized content is encouraging companies to launch new applications that support these images and videos in the global stock images and videos market. For instance, Shutterstock included cinemagraphs in its library through a distribution deal with Flixel which produces these living images. The launch of video formats such as 360-degree videos in AR and VR, 4K videos, drone videos, and others will revolutionize the global stock images and videos market during the forecast period.
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License model segment to grow at a significant CAGR in the global stock images and videos market during the forecast period
The global stock images and videos market by license model is divided into RM and RF. RF license model occupied around 1/3rd of the market share in 2017, growing at a CAGR of approximately 6% during the forecast period. The growing trend towards the offering of subscriptions or credits on demand for these images in a bid to capitalize on volume demand is one of the primary factors contributing to the growth of this segment in the global market. The vendors in this segment are increasingly classifying various bodies of work basis their quality and thus pricing the images accordingly to gain a higher number of consumers. The growing demand for RF licenses in India and Africa will attribute to the revenues in the global stock images and videos market.
The other prominent players in the global stock images and videos market are 123RF, Alamy, AP Images, Can Stock Photo, Coinaphoto, Death to Stock, DepositPhotos, Dissolve, Dreamstime, Fotosearch, Masterfile, Photofolio, Pixta, Pond5, Reuters Images, Stocksy, SuperStock, VideoBlocks, ImagesBazaar, Videvo, Pexels, and NHK Video Bank.
The report also offers a detailed study of major trends, drivers, challenges, and also provides the market size and forecast for major geographical regions and key countries.
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