Adobe, Getty Images, Shutterstock, and Visual China Group (VCG) are identified as prominent vendors in the global royalty free images and videos market.
Arizton’s recent market research report on the global Stock Images and Videos Market provides comprehensive industry analysis, trend forecasts, and competitive analysis. The market study includes insights on segmentation by products (still images and videos), license(rights-managed (RM) and royalty-free (RF)), application(commercial and editorial), source (macrostock and microstock), end-user (marketers, films and TV producers, media & publishing companies, and business and individual creators),and geography (APAC, Europe, Latin America, MEA, and North America).
The global stock images and videos market insurance market is expected to grow at a CAGR of over 5% during the period 2018−2024.
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Royalty free images and videos are licensed pre-shot photographs and videos for commercial and editorial use, including publications. This visual content is available for quick digital downloads when the budget is limited and timelines are short, thereby making it impractical to hire photographers for custom shoots. Royalty free images and videos are offered under licenses. Artificial Intelligence (AI) acts as a smart system for stock agencies to effectively monitor and accurately segregate, review images, recognize the content’s value, and offer the right content to align with the consumer’s requirement. AI tools can generate tags based on image recognition, thereby allowing users to efficiently source keywords that validate images. They offer intelligent keywording features that improve accuracy and save time.
The leading drivers and trends driving the growth of the global royalty free images and videos market are discussed below:
High Popularity of AI Tools
Artificial intelligence acts as a smart system for stock agencies to effectively monitor and accurately segregate, review images, recognize the content’s value, and offer the right content to align with the consumer’s requirement. AI tools can generate tags based on image recognition, allowing the user to efficiently source keywords that validate the image. For instance, Qhero offers intelligent keywording features that improve accuracy and save time. This helps to increase satisfaction and proves beneficial to the growth of the market. It also helps bump up underperforming content by giving it better exposure through advanced tagging.
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Rise of Digital Communities
In an attempt to develop highly interactive and engaging user experiences web giants, such as Google, Facebook, and the likes, have rolled out new tactics that have marginalized text and ranked content carrying images higher. This has incentivized the use of visuals. About 62% of all digital impressions are stimulated by images and thus content marketing is being re-aligned to fit the popular template of minimal text and maximum imagery.
The use of smartphones, the emergence of wireless networks and high-speed internet, the growth of social media networks have laid the groundwork for the explosion of visual content. Primarily, visual-based platforms such as Vine, Instagram, Snapchat, Pinterest, etc. have only upped the ante. The other platforms, such as include Reddit, LinkedIn, and Twitter, which had not started out with their base in visual content are also giving precedence to digital countries. Artists, and common people are using YouTube, Instagram, and Facebook as a springboard to success on small budgets. These social media platforms are empowering them to showcase their talents and narrate their stories by reducing entry barriers and eliminating gatekeepers.
Growth of Content Automation and Personalization
With brands increasingly using AI-based personalized content, the dependence on a library of available images that can boost mileage without requiring much investments on new content is likely to high during the forecast period. Some businesses help to create individualized videos from applications and structured data in a short time. This has bolstered the demand for content that is hinged on unique details about users.
Marketers are also increasingly using in-depth frameworks for personalized advertising programs by linking the customer’s data points with imagery and videos. Hence, these formats are expected to hold high business value, which will help achieve behavior changes and facilitate action among customers. This is expected to expand the use of images and videos required.
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Adobe, Getty Images, Shutterstock, and Visual China Group (VCG) are identified as prominent vendors in the global royalty-free images and videos market.
The complete overview of the latest market research report on the global stock images and videos market by Arizton is now available.
The report offers a detailed study of major trends, drivers, and challenges and provides market sizing and forecast for major geographical regions and key countries.
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