Global Still Images Market 2019-2023 | Rising Demand for Microstock Images to Boost Growth | Technavio
LONDON--(BUSINESS WIRE)--Oct 30, 2019--
The global still images market is expected to post a CAGR of nearly 8% during the period 2019-2023, according to the latest market research report by Technavio. Request a free sample report
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Technavio has announced its latest market research report titled global still images market 2019-2023. (Graphic: Business Wire)
Several players in the market are offering unlimited downloads of stock illustrations, still images, clip arts, and many others at a fixed price. They are also allowing customers to cancel the subscription as per their convenience. Certain vendors are adopting new business models that allow customers to connect with photographers and submit a request. The rising adoption of such business models by market players is one of the key factors driving the growth of the global still images market.
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As per Technavio, the rising demand for microstock images will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Global Still Images Market: Rising Demand for Microstock Images
The presence of enormous amounts of still images is prompting vendors to offer low-priced still images in the market. The availability of low-cost microstock images is attracting price-sensitive customers and driving revenues for vendors. With improvements in quality, the demand for microstock images is expected to increase during the forecast period. These factors will have a positive impact on the growth of the global still images market.
“Apart from the rising demand for microstock images, the growing concern for authenticity and rise in the adoption of acquisition strategy are some other major factors that will boost market growth during the forecast period,” says a senior analyst at Technavio.
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Global Still Images Market: Segmentation Analysis
This market report segments the global still images market by geography (APAC, Europe, MEA, North America, and South America), image type (photos and others) and license model (RM and RF).
The North American region led the market in 2018, followed by Europe, South America, APAC, and MEA respectively. During the forecast period, the North American region is expected to maintain its dominance over the global market. This is due to the increasing use of still images for advertisements on digital media platforms, such as social media.
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Some of the key topics covered in the report include:
Five Forces Analysis
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INDUSTRY KEYWORD: TECHNOLOGY PHOTOGRAPHY
SOURCE: Technavio Research
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PUB: 10/30/2019 01:30 PM/DISC: 10/30/2019 01:30 PM