The leading vendors in the global stock images market are Getty Images, Visual China Group, Shutterstock, and Adobe.
Arizton’s recent market research report on the stock images and videos market provides comprehensive industry analysis, trend forecasts, and competitive analysis. The research study segments the market by image source (macrostock and microstock), by application (commercial and editorial), by product (still image and footage), by license model (RM and RF), by geography (North America, Europe, APAC, and ROW), and offers detailed competitive analysis.
The stock images market is estimated to reach values of more than $4 billion by 2023, growing at a CAGR of around 5% during 2018-2023.
The growing popularity of digital cameras is driving the demand for stock photography in the global market. Engaging across broader touchpoints is becoming another trend in the global stock images market.
The top 3 drivers and trends are augmenting the development of the global stock images market are discussed below:
Growth of Digital Communities in a Hyper-connected Ecosystem
The establishment of the new digital economy is boosting the demand for visual content, thereby, propelling the development of the global stock images market. The connected ecosystem is driven by the use of carousel, video, GDN ads, geofilters, news feeds, sponsored posts, stories, and lenses in the global market. The launch of the visual-based platform such as Vine, Instagram, Snapchat, Pinterest, Facebook, LinkedIn, and Twitter is helping in the development of visual media in the market. Sight is the strongest sense and is sensitive to everything from prompting action, stirring emotion, and driving memory retention. This is driving businesses and brands to adopt bite-sized content to increase consumer satisfaction in the global stock images market. Digital platforms are implementing new tactics that marginalized text and ranked content that carries images higher, incentivizing the use of visuals to create highly interactive and engaging user experiences in the market.
The hyperconnected system is estimated to grow to $340 billion by 2025.
With the visuals becoming a norm, irrespective of size, budgets, areas of business, and the nature of need, the attention being commanded by visual content is undeniable in the market. The shift from word-studded communication to visual-gracing messages will augment the growth of the global stock images market.
Global Visual Content Statistics 2017
Blockchain Technology Makes Inroads
The introduction of explosive technology such as blockchain is addressed various crop of issues and is contributing to the revenues in the global stock images market. The use of these techniques enables the ability to create and spread content, accountability, protection, data sharing, and cost-saving in the market. The blockchain is enabling photographers to sign their rights on their content, something along the lines of a digital fingerprint, and visual content in the global market. This system also aids in licensing images directly, circumventing the traditional method and providing total control over the photos while making them more economical and profitable creating employment in the global stock images market. Furthermore, the adoption of licenses helps drive down the participation of intermediaries, enhance photographers’ profits, and reduce consumers expenses, while providing a larger range of product opportunities in the market. Companies such as IPStock, WeMark, Photochain, and Pibble are using blockchain technology to eliminate middlemen and facilitate the P2P transfer of value in the global market. Additionally, Kodak, Binded, ImageRights, and Ascribe are aiming to provide copyright protection using image hashes written to a distributed ledger that will give an incontrovertible record of IP in the global stock images market.
Artificial Intelligence and Machine Learning in Stock
The growing requirement for a ‘perfect’ image for use in their content, strategy, campaign, and advertisement is enabling the use of AI and machine learning in the global stock images market. The introduction of this algorithmic system in which consumers scour valuable content while simultaneously supporting the creator in the market. AIs are a smart system for stock agencies that assist to effectively monitor, accurately segregate, review images, recognize the content’s value, and offer the right content to keep up to the consumer’s requirement in the global stock images market. AI and machine learning increases satisfaction and proves beneficial to the growth of the market. It also helps bump up underperforming content by giving it a better exposure through advanced tagging. These systems are designed to boost the image quality to attract a maximum number of consumers in the global stock images market.
The complete overview of the latest market research report on global stock images and videos market by Arizton is now available.
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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