Connect with us

News

Study Finds Commercial Photography Market is Strong and Growing

Published

on

photo studio

A market research study has concluded that the commercial photography business is growing, largely thanks to a surging e-commerce industry.

Fact.MR, a market research company, estimated that the global commercial photography market size is an estimated $5.2 billion in 2022 and is projected to evolve a further 2.2% in the next decade until 2032.

The Dublin-based firm puts the impressive numbers down to the boom in e-commerce which drives demand for commercial, and more specifically, product photography.

“It plays an essential role for the sales of products and is projected to gain more popularity with increasing smartphone and Internet penetration,” the company writes.

Key Facts

In 2021, the global market size of commercial photography was around 31% of the total photography services market. It has grown at 1.7% compound annual growth rate (CAGR) since 2017.

“Since it is a modern tool that enhances the business image and makes enterprises stand out differently from competitors, commercial photography is here to stay,” Fact.MR writes.

The global commercial photography market is projected to expand at a moderate CAGR of 2.2% and reach $6.5 billion by 2032.

Product photography is the dominant discipline within the commercial photography space with a market share of 45%.

In 2021, North America had a 41% share of the global market, but the researchers expect that the industry will grow more in Europe and East Asia in the coming years.

“Product photography to become an opportunistic factor for the demand for commercial photography,” says a Fact.MR analyst.

The U.S. Market

The United States commercial photography market is estimated to expand at a CAGR of 1.9% during the forecast period (2022-2032).

The U.S. commercial photography market is projected to grow with the increasing demand for professionally clicked photographs for media communication, public relation, and other professional services.

The growing popularity of e-commerce among enterprises to expand their business online is another major factor attributed to market growth. To sell products or services online, corporates require value-added content and high-quality imagery to gain greater consumer attention.

Why is Product Photography High in Demand?

Product photography is important for advertising a product or service. With the increase in online shopping and food delivery culture, product photography has gained tremendous popularity to attract greater customer attention and build a brand reputation.

According to Justuno, an advertising firm, around 93% of consumers examined visual content as a key deciding factor in their purchasing decision. Whereas, around 78% of online shoppers want high-quality photography of products to display in stores.

Across social media channels, photos and imagery posts are among the most effective and used content types to enhance audience engagement. Around 70% of enterprises invest in content marketing, including visual marketing tactics, which demand professional product photography.


Image credits: Header photo licensed via Depositphotos.

Continue Reading

Recent News

Lana Del Rey and Evan Winiker Relationship Lana Del Rey and Evan Winiker Relationship
Celebrity6 hours ago

Who Is Evan Winiker? All About Lana Del Rey’s Rumored Ex

Evan Winiker and the hit pop artist Lana del Rey had something special. Something that almost resulted in a beautiful...

Jack Martin and Lili Reinhart Jack Martin and Lili Reinhart
Celebrity6 hours ago

Who Is Jack Martin? All About Lili Reinhart’s Boyfriend

Lili Reinhart has been our beloved since starring in the famous show ‘Riverdale’. The end of the show marks an...

Cynthia Daniel & Cole Hauser Relationship Cynthia Daniel & Cole Hauser Relationship
Celebrity6 hours ago

Who Is Cole Hauser’s Wife? Everything About Cynthia Daniel

Cole Hauser’s wife Cynthia Daniel is a curiosity for his followers. Cole Hauser is famous for his role in classic...

Dana White Controversies Dana White Controversies
Celebrity6 hours ago

Who Is UFC President Dana White’s Wife? All About Anne White

As president of the UFC, Dana White is known for running a successful business and being a strong leader in...

Is Pete Davidson Single Is Pete Davidson Single
Celebrity6 hours ago

Is Pete Davidson Single? Everything About His Love Life Revealed

Pete Davidson’s popularity is increasing day by day because of his talent. Pete Davidson is a comedian on Saturday Night...

George Foreman George Foreman
Celebrity6 hours ago

All You Need To Know About Choice Home Warranty George Foreman 

With increasing demand for warranty homes as ownership transfers to the invested owners of any house, it’s essential that you...

Aaron Wohl Arrested Aaron Wohl Arrested
Celebrity6 hours ago

Details You Should Know About Dr Aaron Wohl’s Arrested (Updates) 

Suppose you are living in Florida or any state in the United States of America. In that case, you must...

What Is The Real Story Behind Selena Gomez's 'Lose You To Love Me' Song What Is The Real Story Behind Selena Gomez's 'Lose You To Love Me' Song
Celebrity6 hours ago

What Is The Real Story Behind Selena Gomez’s ‘Lose You To Love Me’ Song?

Selena Gomez is an artist who has touched the hearts of millions with her soulful voice and meaningful lyrics. Her...

Social Media Girl Forums Social Media Girl Forums
Fashion6 hours ago

The Digital Sisterhood: Exploring Social Media Girls Forums 

An online community where females may exchange ideas and experiences while discussing a range of social media-related topics is known...

McDonald's Japan's McDonald's Japan's
News8 hours ago

How World Reacted to McDonald’s Japan’s Viral Ad

McDonald’s is a well-known fast-food chain in the world. Its fast food offerings, including fries and burgers, are well-known. There...