by Stock photography refers to images and footage taken by photographers and made available for licensing or use by businesses and individuals. It provides an alternative to hiring a professional photographer or purchasing rights to an image for each individual use.
The global Stock Photography Market is estimated to be valued at US$ 3.84 Bn in 2024 and is expected to exhibit a CAGR of 7.1% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Stock Photography provides an array of images covering different topics including lifestyle, nature, objects, events etc. for various uses such as websites, advertisements, presentations and publications. It allows businesses easy access to high quality images without incurring extra costs. With growing preference for visual content in marketing, stock photography has emerged as a cost effective solution for companies of all sizes.
Market key trends:
One of the major trends boosting the stock photography market growth is increasing demand for online visual content. Rising internet penetration and emergence of various digital platforms has increased the need for high quality images and footage. As per reports, around 80% of information transmitted to the brain is visual. This has prompted businesses to focus more on visual marketing strategies using stock images. This growing emphasis on visual content is expected to continue driving the demand for stock photographs over the coming years.
SWOT Analysis
Strength: Stock photography offers wide collection of imagery that can be easily searched and licensed online for various uses. This makes it very convenient for businesses and individuals to find suitable visual content.
Weakness: The images available in stock photography are generic and may not always suit specific needs of businesses. Due to huge selection available, it also becomes difficult to find most relevant images.
Opportunity: With increasing focus on visual content marketing, demand for stock images is growing across industries. This provides an opportunity for stock photography providers to expand their collections as well as client base.
Threats: Free stock image sites pose a threat as they provide basic images for free. Additionally, advanced imaging technologies like AI image generation also threaten the stock photography market.
Key Takeaways
The global stock photography market is expected to witness high growth over the forecast period of 2023 to 2030. Global Stock Photography Market Demand is estimated to be valued at US$ 3.84 Bn in 2024 and is expected to exhibit a CAGR of 7.1% over the forecast period 2023 to 2030.
The North America region currently dominates the stock photography market owing to extensive use of visual content in marketing, media and entertainment sectors in countries like US and Canada. Europe is another major regional market led by UK, Germany and France.
Key players
Key players operating in the stock photography market are Shutterstock, Getty Images, Adobe, Stocksy United, Masterfile, Image Source, Pixelquid, Depositphotos, Fotosearch, Photofolio.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
