Overview:
Memories locked in prints have a tempting appeal for many owing to which, at present, the global photo printing market is experiencing a resurgence. The market can reach up to USD 2693 million during the forecast period (2016-2022) with an inspiring 5% CAGR, asserts Market Research Future (MRFR) in its well-documented report. Developments in technology and various associated fields have given the much-needed thrust to the photo printing market by creating a tendency to gift personalized products which adds a dimension to the idea of savoring memories. Mobile phone applications, alongside wi-fi technology implementation, is pushing the market further forward. Increasing number of photo printing vendors are also contributing much in expanding the demographic portfolio of the market. Advents of the latest technologies such as 3D printing and high-definition (HD) printing have also taken the market by storm. Furthermore, photo printing setups incur a minimal cost which can trigger the market considerably.
However, printed pictures have a relatively low lifespan which can be a setback for the growing market. But this can never halt the growth for long as with evolving technologies, for sure, the photo printing market can come up with a perfect solution.
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Industry Trends:
Kodak, one of the leading market players, has recently launched a pocket-sized print camera that is their first film camera in years. Along with it, they have introduced Kodak Moments which is a photo-printing platform guided by e-commerce sites where people can print their images according to their preferences.
Hewlett-Packard (HP), in 2017, came up with a palm-sized printer, HP Sprocket, that one can connect via Bluetooth with mobile or tablet for instant photo prints.
Segmentation:
The global Photo Printing Market can be segmented by type, application, and end-users.
Based on type, the market can be segmented into film printing and digital printing. Staying in sync with the time, digital printing has gained considerable traction.
Application-wise segmentation of the market includes desktop and mobile. Desktops are more popular owing to the ease of handling pictures and getting them printed.
On the basis of end-users, the market comprises retail, online stores, instant kiosks and others. Online stores are getting momentum as they offer various templates and also, let the client customize the product.
Competitive Dashboard:
The competitive market has several big-league players, but new entrants with their innovations are making the market more engaging. For instance, WedPics is a software that allows customization in printing and has more than seven million users. However, the company has been recently acquired by Mix Book. District Photo has recently inaugurated their new commercial print operation District Print where Tharstern secured a deal to provide the company with valuable management insights.
The key players in the global photo printing market include Eastman Kodak Company (U.S.), Cimpress (Netherlands), Shutterfly, Inc. (U.S.), Snapfish (U.S.), Bay Photo Lab (U.S.). Digitalab (U.K.), AdorPix LLC (U.S.), Mpix (U.S.), ProDPI (U.S.), and others.
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Regional Analysis:
Region-specific segmentation of the global market encompasses North America, Europe, Asia Pacific (APAC), and Rest-of-the-World (RoW).
North America is currently dominating the market due to its advanced technologies and a huge demand for photo merchandise items such as photo books, cards, and canvas prints. The region has this tendency to adopt the latest technology and consequent business expansion which has led to gradual sipping in of 3D and HD prints.
The APAC is not lagging behind. With a giant market like China in the region, it is expecting substantial boost in the coming days. This growth can be attributed to expanding e-commerce sector and high rate of smart gadget adoption.
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