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Report
Asia Pacific Photography Service - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2020 - 2029
Market Report I 2024-02-17 I 140 Pages I Mordor Intelligence
The Asia Pacific Photography Service Market size is estimated at USD 12.21 billion in 2024, and is expected to reach USD 18.05 billion by 2029, growing at a CAGR of 8.13% during the forecast period (2024-2029).
With the recent boom in avenues such as advertising, media, and the fashion industry, photography surfaced as a lucrative and stimulating career option for many youngsters. Photography was classified as a hobby profession only, but now it grew in an unprecedented manner. These days, photography is quickly rising as a popular career choice among various age groups. It is a creative means of expression, with a camera replacing the purpose of a pen or a paintbrush.
The growth of the creator economy and the success of short video platforms during the pandemic gave a leg up to the digital photography industry that was under strain from smartphone cameras. Camera brands saw an almost doubling demand and sales of entry-level mirrorless cameras. We live in a world of instant photography, where devices like smartphones can freeze multiple cherishable moments at the click of a button. Now, tens of hundreds of digital images and videos can be captured, saved, processed, and printed within minutes.
The images captured with digital cameras could also be easily uploaded and shared across the internet. It is a feature that many businesses worldwide capitalized on. Though digital photography makes capturing and sharing images easier, it also led to the downfall of physical photographs. Photo prints and negatives were all but forgotten in favour of a more digital format.
The covid-19 pandemic severely affected the globe and almost brought all industries functioning in society to a standstill. The lockdown imposed due to the Covid outbreak had a large-scale impact on the photography industry with the cancellation of events, studio shutdowns, no work for freelancers, and delivery issues. Photographers faced much backlash on their business due to the lockdown and suffered financially as they had no work then. It also impacted the whole photography industry, including all the freelancers.
Key Market Trends
Impact of Social Media Users in Asia Pacific
The world relies on Social Media now more than ever. There are so many opportunities for photographers to broadcast their work. The visual realm of the online world is ideal for showcasing images and having complete control over publishing images. Chinese citizens displayed a strong online presence, with approximately 983.3 million active social media users in 2022. Other Asia-Pacific countries and regions appeared behind China regarding their social media activity. India and Indonesia are the second and third-ranking countries for social media. Facebook reigns worldwide and in Asia-Pacific as the most-used social media site, displaying increased daily active users.
Interestingly, almost half of the most popular social media platforms globally were Asian social networks. The impact of social media is huge due to sharing photos online and making videos for creating content on youtube. It also includes a major impact on the photography service industry.
China is Leading Revenue generating in Digital Camera Market
The Digital Cameras Market includes digital photo cameras. Excluded are special cameras for professional and semi-professional use (e.g., underwater and aerial cameras and drones). Some of the biggest brands in this segment are Canon, Nikon, Pentax, Olympus, and Sony. The Consumer Electronics market only includes retail sales. The Chinese digital camera market generated top revenue, making it the strongest market in the Asian-Pacific region. India and Japan generated the second and third-highest revenue in the region. Hong Kong, Singapore, and New Zealand created the smallest revenue in the region. Digital Cameras support sales of high-end products, including DSLR cameras. Besides, such gadgets are further rising due to improving internet infrastructure in Asian countries. Youth hold a significant share of the total population in APAC, which can be directly proportional to the adoption of technologically advanced and innovative devices.
Competitive Landscape
Asia Pacific Photography Service Market is highly competitive and fragmented as various international and regional vendors are providing new technology to various end-use industries to expand the market. The key players are emerging to improve their products and delivery through manufacturing techniques and enhancing their products to include a competitive edge over others. Also, the companies are involved in acquisitions and expansion to improve their product offerings and increase the production process. They undergo partnerships and collaborations with leading automotive manufacturers to address the demand and strengthen their presence across the Asia Pacific. The photography service across the Asia Pacific is offered by groups such as Educreate Films, Filmapia India, Vortic Designs, RedFern Digital, and Orange Studios.
Additional Benefits:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support
1 INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS AND INSIGHTS
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Insights on Impact of Technology in the Market
4.5 Industry Attractiveness - Porter's Five Forces Analysis
4.5.1 Bargaining Power of Suppliers
4.5.2 Bargaining Power of Buyers
4.5.3 Threat of New Entrants
4.5.4 Threat of Substitutes
4.5.5 Intensity of Competitive Rivalry
4.6 Impact of COVID-19 on the Market
5 MARKET SEGMENTATION
5.1 By Type Outlook
5.1.1 Shooting Service
5.1.2 After Sales Service
5.2 By Application
5.2.1 Consumer
5.2.2 Commercial
5.3 By Country
5.3.1 China
5.3.2 India
5.3.3 Japan
5.3.4 South Korea
5.3.5 Rest of Asia-Pacific
6 COMPETITIVE LANDSCAPE
6.1 Market Concetration Overview
6.2 Company Profiles
6.2.1 Educreate Films
6.2.2 Filmapia India
6.2.3 Vortic Designs
6.2.4 RedFern Digital
6.2.5 Orange Studios
6.2.6 First Light Films
6.2.7 Rimagine Graphic Design (Shanghai) Co., Ltd
6.2.8 Royal Creative Team
6.2.9 Ricoh Co Ltd
6.2.10 Panasonic Holdings Corp*
7 MARKET OPPORTUNTIES AND FUTURE TRENDS
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