Dublin, Nov. 17, 2023 (GLOBE NEWSWIRE) -- The "Global Photo Printing Market (by Type, Product, & Region): Insights and Forecast (2023-2028)" report has been added to ResearchAndMarkets.com's offering.
The report provides an extensive analysis of the burgeoning photo printing industry, driven by the increasing number of photos captured globally, especially with smartphones, and a growing inclination towards personalized gifting items.
The global photo printing market is on a rapid ascent, projected to reach a value of US$21.67 billion by 2023, with an impressive CAGR of 6.14% over the forecast period. This growth is primarily driven by the escalating number of photos taken and the shift towards mobile-to-print channels, complemented by an expanding personalized gift market and a rising demand for 3D images.
Segmentation Insights:
The report segments the market into two types: digital and film photo printing, with digital printing dominating due to its cost-effectiveness and rapid production capabilities. Furthermore, it analyzes the product-based segmentation, including photo books, prints, albums, mugs, calendars, and other photo gifts, highlighting the dominance of photo books and prints.
Challenges and Trends:
Despite the growth, the market faces challenges such as the high cost of dye-sublimation printing and the decline of the roll film market. However, trends like the proliferation of social media, the growing focus on photo printing kiosks, and the rising emphasis of e-commerce companies on online photo printing services, particularly AI-based photo books, are driving market expansion.
The proliferation of smartphones and other image-capturing devices like drones, tablets, and GoPros has significantly influenced the market. Special occasions like weddings and graduations often prompt people to print photos, further fueling the market growth.
Innovations and Key Players:
The report highlights innovations such as the introduction of photo printing kiosks with improved connectivity features, like Fujifilm's SmartPix kiosks with NFC capabilities.
Key players in the market include:
- Shutterfly, LLC
- Cimpress plc
- Walmart Inc. (Walmart Photo)
- Photobox (albelli-Photobox Group)
- Printique (Adorama)
- Digitalab
- Circle Graphics, Inc. (Bay Photo)
- Cewe
- Claranova S.E.
- Moonpig Group plc
- Picanova Group
- Fujifilm Corporation
For more information about this report visit https://www.researchandmarkets.com/r/4o12fv
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