The global stock images market size has the potential to grow by USD 1.82 billion during 2020-2024, and the market’s growth momentum will accelerate throughout the forecast period.
Market Overview
Image Source: Technavio
The market is currently fragmented, and the degree of fragmentation will increase during the forecast period. Market vendors are focusing on partnerships and strategic alliances to increase their market share, achieve product feature improvisation, and expand their geographic reach and product portfolios. Adobe Inc., Depositphotos Inc., and Dreamstime.com LLC are some of the major market participants. Although the accelerating growth momentum will offer immense growth opportunities, the concerns related to data privacy and copyright issues will challenge the growth of the market participants.
To increase their stock images market share, companies should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments. Some of the leading stock image companies, are: Adobe Inc. Depositphotos Inc.Dreamstime.com LLCEnvato Pty Ltd.Getty Images Inc.Inmagine GroupPIXTA Inc.Pond5 Inc.Shutterstock Inc.Thomson Reuters Corp.
Stock Images Market: Segmentation by Region
Image Source: Technavio
North America was the largest market for stock images in 2019, and the region will offer several growth opportunities to market vendors during the forecast period. Factors such as the introduction of innovative service delivery methods and the growing e-commerce market are contributing to stock images market growth in this region. Over 43% of the market’s growth will originate from North America during the forecast period. The US is a key market for stock images in North America. Market growth in this region will be faster than the growth of the market in Europe.
Stock Images Market: Segmentation by Application
Stock images are widely used by publishing houses in their books, newspapers, and magazines to support their story content. The growing number of publishing houses and news publications and rising trends in blogging are expected to fuel the demand for stock images for editorial applications. However, market growth in this segment will be slower than the growth of the market in the commercial segment. This report provides an accurate prediction of the contribution of all the segments to the growth of the stock images market size.
Stock Images Market: Key Drivers and Trends
The increased popularity of stock images for digital and social media marketing will be a significant factor in driving the growth of the stock images market size. Companies are increasingly using social media platforms for marketing different products and services. The success of an advertisement or promotional campaign on social media platforms is measured by the number of views and responses it generates. Hence, the growing popularity of stock images on social media platforms will enhance the visibility of these images and create ample growth opportunities for stock image providers. The rising popularity of stock images on social media platforms has also encouraged market vendors to offer various tools that help end-users to easily transform their images for use on different social media platforms.
Marketers and promoters are increasingly using advanced and more interactive promotional products to make their advertisement and promotional campaign more effective and attract and connect well with the target audience. The use of moving images, such as images in the GIF, is increasing from marketers and promoters engaged in promotional activities of events, services, and products. Several players operating in the global stock images market are widening their product portfolios by including GIF images. As the subscriptions for GIF images are higher than for ordinary stock images, the rising demand for moving images, which is one of the critical stock images market trends, will positively influence the growth of the market during the forecast period. During 2020-2024, the stock images market size will grow at a CAGR of over 8%
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Source: Technavio