8.3% CAGR, Photo Printing Market Size Growth by 2027 – Driven by Leveraging Advanced Technologies – Exclusive Report by The Insight Partners

The global photo printing market share was valued USD 14.76 billion in 2019 and is expected to reach USD 27.33 billion by 2027; it is estimated to grow at a CAGR of 8.3% during 2020–2027.

New York, Dec. 16, 2022 (GLOBE NEWSWIRE) — According to The Insight Partners, “Photo Printing Market Size, Share, Growth, Trends and Forecasts to 2027 – COVID-19 Impact and Global Analysis by Product Type (Prints, Wall Art, Cards, Photo Gifts, Photo Books, Calendar, and Others); Type (Film and Offset Printing, and Digital Printing); Distribution Channel (Retail, Online, and Instant Kiosk)”; The global photo printing market growth is impelled by increasing penetration of smartphones and internet, rise in demand for kiosks around the world and booming e-commerce sector.

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Global Photo Printing Market – Report Scope:

Market Size Value in USD 14.76 Billion in 2019
Market Size Value by USD 27.33 Billion by 2027
Growth rate CAGR of 8.3% from 2020-2027
Forecast Period 2020-2027
Base Year 2020
No. of Pages 186
No. of Tables 88
No. of Charts & Figures 85
Historical data available Yes
Segments covered Product Type; Type; Distribution Channel
Regional scope North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country scope US, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina
Report coverage Revenue forecast, company ranking, competitive landscape, growth factors, and trends

Global Photo Printing Market: Competitive Landscape and Key Developments

The top five companies in the photo printing market are Fujifilm Corporation, Walgreens Co, Shutterfly, Snapfish, and Walmart Photo. The above listing of key players is derived by considering multiple factors such as overall revenue, current Photo printing solution portfolio, new product launches, market initiatives, investment in technology up gradation, mergers & acquisitions and other joint activities.

2019: FujiFilms announced its new instax mini 11 model, which offers simple operability, stylish design, as well as premium quality instant photo prints.

2019: Google Photos has partnered with CVS pharmacy and Walmart company to provide on-demand, in-store prints from the app.The 4×6 photo prints directly from Google Photos and will be present for same day pick up at the stores, which have a combined 11000 locations.

2018: Shutterfly Inc. the leading online retailer and manufacturer of high-quality personalized products and services, announced the inauguration of two new categories: Kids and Pets. kids, pets and their parents can show their personality with an excellent range of customizable products.

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APAC photo printing market to grow at highest CAGR during forecast period:

APAC includes various well-established economies such as China, India, Japan, South Korea, and Australia. Rapid developments pertaining to technologies, initiatives from governments, digitalization of economies, and rising disposable income of the middle-income class group are among the factors propelling the growth of the overall economy of the region, driving it from a developing to developed phase. APAC is projected to register the fastest CAGR in the market during the forecast period. The region has strong IT infrastructure, with companies showcasing strong software and services offerings; the players are also at the forefront the bringing technological developments in AI. Further, the e-commerce industry of the region is blooming with the rising population as well as increasing penetration of internet, and high adoption of smartphones and tablets. The overall growth of APAC is also ascribed to the presence and activities of SMEs. In Asian countries, SMEs are responsible for generating huge employment opportunities, thereby eradicating the issue of unemployment.

Similarly, in North America, the consumer electronics industry has been flourishing. There is a relatively high density of consumer electronic devices in the region, such as smartphones, which is expected to contribute to the growth of the North American photo printing market. The growth of the gifting culture also drives the market growth in North America. The evolution of the gifting culture has resulted in the rise in the photo printing merchandise sales in the region. There’s also a growing demand for family vacation cards across the region, which is adding to the demand for photo printing devices. photo cards, photo books, and calendars are among the most popular gift items in North America market. North America accounts for a prominent share of the global photo printing market, with the US and Canada being the key contributors. Market growth in this region during the forecast period would, however, be slower than market growth in Europe and APAC.

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Impact of COVID-19 Pandemic on Global Photo Printing Market Growth:

The ongoing COVID-19 is anticipated to cause huge disruptions in the growth of various industries. APAC is an also a global manufacturing hub with countries such as China, Japan, South Korea, and India leading the global manufacturing industry growth. China is the largest raw material supplier for various industries, and it is one of the worst-affected countries by COVID-19 outbreak. The lockdown of various plants and factories in China is affecting the global supply chains and negatively impacting manufacturing, delivery schedules, and sales of various products and services. China has recently emerged from a 2-month containment phase and moved into the mitigation stage; however, the economy growth is still declining due to uncertainty around COVID 19 outbreak. The ongoing COVID-19 is anticipated to cause huge disruptions in the growth of various industries in Asia Pacific.

The global photo printing market is segmented on the basis of product type, distribution channel, and type. Based on product type, the market is segmented as prints, wall art, cards, photo gifts, photo books, calendars, and others. Based on type, the market is segmented as film and offset printing, and digital printing. Based on distribution channel, the market is segmented as retail, online, and instant kiosk.

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Key findings of study:

The increasing population and rising disposable income levels, especially in developing regions, of have led to the increased demand for smartphones and cameras worldwide. The favorable government policies to increase investments in the implementation of smart technologies in the e-commerce and retail industries are further boosting the growth of aviation industry in regions such as APAC, the MEA, and SAM. The rising trend of content sharing across social media platforms is indirectly affecting the growth of the photo printing market in this region. Moreover, the US and Canada report high purchase rate of mobile/portable photo printers for individual usage. Asia-Pacific is expected to be the fastest-growing market for photo printing during the forecast period on the back of the innovation in digital cameras by companies such as Sony Corporation and Panasonic Corporation, enabling consumers to directly print their photos on albums, merchandise, wall decor, mugs, cards, and gifts. China and other developing Asian economies are expected to witness significant growth opportunities shortly, along with the Southeast Asian countries. This growth was attributed primarily to the thriving e-commerce sector. The growing popularity of smartphone applications to capture and share photos is identified as another key factor in boosting the growth of the market. Furthermore, the continuous improvement of broadband infrastructure and wireless connectivity networks will fuel the photo printing market growth in the next few years.

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