Photo Printing Industry Applications, Outstanding Growth, Market status, Business Opportunities
Overview
The global photo printing market is expected to reach USD 26113.0 million by 2023 at a CAGR of 12.29% during the forecast period. Market Research Future (MRFR) in its report envelops segmentations and drivers to provide a better glimpse of the market in the coming years. Over the last decade, there have been rapid developments in the photo printing services, such as the transition from traditional to digital and further to smartphone photography. Photos can now be clicked by film cameras, digital cameras, smartphones, or even instant kiosks. Various printing techniques have led to the emergence of several photo developing applications and aided the growth of the photo printing market. Customers now have the privilege of either opting for store-bought frames or printing photos at their own convenience. Factors such as the growth of social media platforms, technological innovation, and the development of various printing methods to enhance customer experience are contributing to the growth of the photo printing market.
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Competitive Analysis
The key players of global photo printing market are Cimpress (Netherlands), Snapfish (US), Digitalab (UK), Mpix (US), Perion Network Ltd (Israel), Eastman Kodak Company (Japan), Shutterfly, Inc. (US), Bay Photo Lab (US), AdorPix LLC (US), and ProDPI (US) among others.
In April 2018, Shutterfly, Inc. acquired Lifetouch, one of the photography services providers, for USD 825 million. Through this acquisition, Lifetouch offers end-to-end services for capturing pictures, preserving, printing, and sharing them.
In September 2017, VistaPrint, a subsidiary of Cimpress, launched several new online resources, providing business owners with education, information, and inspiration for their marketing. The Ideas and Advice hub, a resource center on the Vistaprint website, provides business owners with marketing, branding, and design advice.
Segmental Analysis
The global Photo Printing Market has been segmented based on type, printing device type, end user application, and region.
Based on type, the market has been classified as digital printing and film printing. The digital printing segment accounted for the larger market share of 76.6% in 2017, with a market value of USD 10,060.1 million; it is expected to register the higher CAGR of 14.3% during the forecast period. The film printing segment was valued at USD 3,065.4 million; it is projected to exhibit a CAGR of 3.4%. Digital printing offers advantages such as variable data printing (VDP), fast turnarounds, cost-effective short runs, and print-on-demand. Due to its low production cost, digital printing technology has replaced lithography for most of the printing applications. Digital printing is expected to dominate the type segment during the forecast period. Film processing requires strict and rigid rules of temperature time, chemical concentration, and physical movement. A high degree of consistency and quality control is required to make films of superior quality, whether the processing is done by machine or by hand. Currently, film printing has been replaced by digital printing.
Based on printing device type, the market has been segmented into mobile type and desktop type. The mobile type segment accounted for the larger market share of 65.1% in 2017, with a market value of USD 8,551.2 million; it is expected to register the higher CAGR of 14.0% during the forecast period. The desktop type segment was valued at USD 4,574.3 million; it is projected to exhibit a CAGR of 8.6%. Mobile photo printers operate on wireless technologies such as Bluetooth, Wi-Fi, and NFC. These portable mobile photo printers offer the same hi-resolution picture quality with sharp colors as desktop type photo printers. FUJIFILM Holdings Corporation developed the INSTAX Share SP-2 portable mobile printer equipped with a rechargeable battery that can be charged via a micro USB port. In desktop type printing device, all printing commands are given from a desktop to the printers to print on various media substrates such as paper, photo paper, and fabric. Desktop printers are mostly used in manufacturing industries, enterprises, and media and entertainment industries. These desktops can function on both wired and wireless modes.
Based on end user applications, the market has been segmented into retail, online stores, instant kiosk, and over-the-counter. The retail segment accounted for the largest market share of 48.1% in 2017, with a market value of USD 6,310.7 million; it is expected to register a CAGR of 10.9% during the forecast period. The online stores segment was the second-largest market in 2017, valued at USD 3,341.6 million; it is projected to register the highest CAGR of 15.1%. Retail photo printing stores are one of the traditional and highly used channels for photo printing. These include physical stores with the complete photo studio setup, and photo kiosks put up at retail supermarkets. Online stores are used by amateurs as well as professional photographers. Online stores provide printing services to customers with the ability to share, store, and print their photos online. An instant kiosk enables users to process the documents themselves, thus helping in completing the printing process faster. Xerox Corporation provides the Instant Print Kiosk for copying, faxing, and scanning the documents in any format. This service also provides complete compatibility with common mobile phone printing applications.
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