Selbyville, Delaware, Feb. 18, 2021 (GLOBE NEWSWIRE) --
Global Market Insights, Inc. has recently added a new report on the photo booth market which estimates the market valuation for photo booth will cross US$ 1 billion by 2027. The rapid digitization of retail outlets will surge the demand for interactive photo booths to enhance customers’ store visiting experience.
The availability of compact & lightweight photo booths incorporated with advanced imaging technology is driving the photo booth market growth. Market players are offering photo booths with several beneficial features such as green screen support, touch screen navigation, innovative printing system, customize borders & backgrounds, and customer logos on products. For instance, Face Place offers Photo Studio Prism photo booth integrated with dye-sublimation printing technology provided by Mitsubishi Electric Corporation. The printing technology easily recognizes images due to their quality and intense brightness of colors.
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Photo booths help in boosting the guests’ satisfaction and experience by offering a hassle-free solution while taking and printing branded pictures. Some of the photo booths are equipped with 4G mobile hotspots that enable guests to share their photos on major social media sites. The availability of photo booths with a wide range of props and customized backgrounds encourages guests to spend more time in the booth. These machines are widely deployed at corporate events to enhance fun & entertainment for employees and guests. For instance, Toyota Motor Corporation installed a photo booth at its Charlesglen Toyota Christmas Party in 2019. It helped the company in keeping guests engaged, providing them fun and creating a memorable event.
The North America photo booth market revenue is poised to witness significant growth during the forecast period. Growth can be attributed to the high adoption of photo booths in several shopping centers and retail outlets. These retail outlets are majorly concerned with the adoption of effective customer engagement techniques to manage the increasing crowd. This interactive system allows retailers to strengthen their brand awareness & loyalty and provide a pleasing shopping experience to customers.
An in-store photo booth also allows retailers to expand their business presence on popular messengers such as Facebook and Line. Several retail stores in the U.S., such as Warby Parker and Reformation, have incorporated photo booths into their stores to enhance customer services.
Some major findings of the photo booth market report are:
- Photo booths are increasingly gaining popularity at weddings and parties due to their features of customized backdrop, theme-based text printed on the photos, and sleek design.
- Open air photo booths are widely adopted at events with limited space such as weddings, corporate functions, parties, festivals, and school formals. These portable studios offer more fun and engaging experience to customers compared to traditional closed booths.
- Government organizations are launching initiatives to boost international tourism, which will also fuel the demand for affordable photo booths in tourist shops. Several shop owners use photo booths to differentiate themselves from other tourist shops in their areas.
- Customized features of a photo booth allow customers to capture memorable images that can be shared on social media sites will drive the photo booth market growth.
- The entertainment sector is increasingly investing in photo booths to enhance customers’ fun and gaming experience. For instance, Purikura, a Japanese photo booth, is mainly located on the basement floor of several arcades centers in Japan.
- Some of the key players operating in the photo booth market include Airbooth, LLC, FotoMaster, Foto Fantasy, Inc., EZ Photobooths, Face Place, Photo-Me International PLC, Photobooth Supply Co., Kingdom Photo Booth LLC, Digital Centre, Photo Booth Emporium, Photo Booth International, RBA Photobooths, Snapcom Engineering, Team Play, Inc., and The SnapBar LLC.
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Partial chapter from the table of contents:
Chapter 2 Executive Summary
2.1 Photo booth industry 360º synopsis, 2017 - 2027
2.1.1 Business trends
2.1.2 Regional trends
2.1.3 Component trends
2.1.4 Type trends
2.1.5 Application trends
Chapter 3 Photo Booth Industry Insights
3.1 Industry segmentation
3.2 Impact of coronavirus (COVID-19) pandemic
3.2.1 Global outlook
3.2.2 Regional outlook
3.2.2.1 North America
3.2.2.2 Europe
3.2.2.3 Asia Pacific
3.2.2.4 Latin America
3.2.2.5 MEA
3.2.3 Industry value chain
3.2.3.1 Raw material & component suppliers
3.2.3.2 Manufacturers
3.2.3.3 Technology provider
3.2.4 Competitive landscape
3.2.4.1 Marketing & strategy
3.2.4.2 Business growth
3.3 Industry ecosystem analysis
3.3.1 Evolution of photo booths
3.3.2 Raw material & component suppliers
3.3.3 Manufacturers
3.3.4 Technology providers
3.3.5 Third party payment issuers/providers
3.3.6 Telecom operators
3.3.7 System integrators
3.3.8 Service providers
3.3.9 Distributors
3.3.10 Vendor matrix
3.4 Technological & innovation landscape
3.4.1 Augmented Reality (AR) & Virtual Reality (VR)
3.4.2 Impact of Artificial Intelligence (AI) and Machine Learning (ML)
3.4.3 NFC & RFID enabled photo booths
3.4.4 Virtual photo booth
3.4.5 3D technology
3.4.6 Green-screen technology
3.5 Regulatory landscape
3.6 Industry impact forces
3.6.1 Growth drivers
3.6.1.1 Integration of advanced technologies in photo booths
3.6.1.2 Rising adoption of photo booths in entertainment industry in North America
3.6.1.3 Increasing investments by market players to enhance image quality in Europe
3.6.1.4 Adoption of social networking sites among young demographic in Asia Pacific
3.6.1.5 Growing internet penetration and digitalization in Latin America
3.6.1.6 Flourishing travel & tourism industry in the MEA
3.6.2 Industry pitfalls & challenges
3.6.2.1 High cost of the machine
3.6.2.2 Poor quality photos leading to security risks
3.6.2.3 Growth of rental photo booth market
3.7 Growth potential analysis
3.8 Porter’s analysis
3.8.1 Supplier power
3.8.2 Buyer power
3.8.3 Threat of new entrants
3.8.4 Threat of substitutes
3.8.5 Internal rivalry
3.9 PESTEL analysis
About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.