The global Stock Photography Market is estimated to be valued at US$ 3.84 Bn in 2023 and is expected to exhibit a CAGR of 5.2% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:-
Stock photography refers to images and footage that has been licensed for subsequent commercial use. Advantages of stock photography include ready availability, cost effectiveness, diversity of content and worldwide licensing. It is frequently used for various visual marketing materials such as website images, social media posts, brochures, presentations etc.
Market key trends:-
Increasing demand from e-commerce and online retail industries is one of the major trends fueling the growth of global stock photography market. E-commerce retailers are extensively using stock images on their platforms to showcase products and services. Surging popularity of virtual and augmented reality technology is another key trend. Content creators are extensively using stock VR and AR assets to develop immersive experiences for various industries like education, healthcare, architecture etc. Growing micro stock photography model is also gaining traction where large volumes of royalty-free images are available at very low prices. This trend is making stock content more affordable and accessible to smaller businesses and individual customers.
Segment Analysis:-
The global stock photography market is segmented by Content type (Images and Video), Image orientation (vertical and horizontal), Resolution (4K and 8K, 2K and 1080P, Others), Application (Commercial use and editorial use), and License model (Rights managed, Royalty free). Among these, Images segment dominates the market with maximum share. It holds majority share due to high demand of images over video for commercial and editorial use in various sectors. In terms of Image orientation, horizontal images are majorly preferred as they perfectly fit in majority designs and layout of webpages, magazines, books and newspapers.
Key Takeaways:-
The Global Stock Photography Market Size is expected to witness high growth, exhibiting CAGR of 5.2% over the forecast period, due to increasing demand for creative and cost-effective visual content across industries.
Regional analysis:-
Asia Pacific region is expected to witness fastest growth in the stock photography market during forecast period. Increasing digitalization and growing brands and businesses are majorly driving the regional market. China dominates the Asia Pacific market owing to presence of large number of stock photography agencies and growing demand from e-commerce platforms in the country.
Key players:-
Key players operating in the stock photography market are Adobe Stock, Getty Images, Visual China Group (VCG), Shutterstock, 123RF,Agence France Presse (AFP), Agefotostock, Alamy, AP Images, Artlist, Coinaphoto, Depositphotos, Dissolve, Dreamstime, East News, Envato, Fotosearch, ImagineChina, Masterfile, The Mega Agency, Newscom, Photofolio, Pixta, Pond5, PR Photos, Redux Pictures, Reuters Images, SilverHub Media, Stocksy, SuStock Videotock, Imagesbazaar, Videvo, PEXELS, NHK Video Bank, Nippon News, Motion Array, Storyblocks, WENN, and ZUMA Press. Major players like Shutterstock, Getty Images, Adobe stock and VCG holds majority share in global market.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it