Global Stock Images Market and Stock Videos Market
Arizton Advisory and Intelligence
Top Segments of Global Stock images and Videos Market 2023
The leading vendors in the global stock images market are Getty Images, Visual China Group, Shutterstock, and Adobe.
North America dominated the market share in 2017, growing at a CAGR of 5% by 2023.
— Adie, Sr. Analyst
CHICAGO, IL, UNITED STATES, August 1, 2018 /EINPresswire.com/ — Arizton’s recent market research report on the stock images market and stock videos market provides comprehensive industry analysis, trend forecasts, and competitive analysis. The research study segments the market by image source (macrostock and microstock), by application (commercial and editorial), by product (still image and footage), by license model (RM and RF), by geography (North America, Europe, APAC, and ROW), and offers detailed competitive analysis.
The stock images market is estimated to reach values of more than $4 billion by 2023, growing at a CAGR of around 5% during 2018-2023.
The growing popularity of digital cameras is driving the demand for stock photography in the global market. Engaging across broader touch points is becoming another trend in the global stock images market.
The players are using innovative technology for the recording of purchase history, analyzing data of users, and using smart technology to display the visual content is propelling the growing global market.
Read the global stock images and videos market report details.
The top 3 drivers and trends are augmenting the development of the global stock images market are discussed below:
Growth of Digital Communities in a Hyper-connected Ecosystem
The establishment of the new digital economy is boosting the demand for visual content, thereby, propelling the development of the global stock images market. The connected ecosystem is driven by the use of carousel, video, GDN ads, geofilters, news feeds, sponsored posts, stories, and lenses in the global market. The launch of the visual-based platform such as Vine, Instagram, Snapchat, Pinterest, Facebook, LinkedIn, and Twitter is helping in the development of visual media in the market. Sight is the strongest sense and is sensitive to everything from prompting action, stirring emotion, and driving memory retention. This is driving businesses and brands to adopt bite-sized content to increase consumer satisfaction in the global stock images market. Digital platforms are implementing new tactics that marginalized text and ranked content that carries images higher, incentivizing the use of visuals to create highly interactive and engaging user experiences in the market.
The hyperconnected system is estimated to grow to $340 billion by 2025.
With the visuals becoming a norm, irrespective of size, budgets, areas of business, and the nature of need, the attention being commanded by visual content is undeniable in the market. The shift from word-studded communication to visual-gracing messages will augment the growth of the global stock images market.
Blockchain Technology Makes Inroads
The introduction of explosive technology such as blockchain is addressed various crop of issues and is contributing to the revenues in the global stock images market. The use of these techniques enables the ability to create and spread content, accountability, protection, data sharing, and cost saving in the market. The blockchain is enabling photographers to sign their rights on their content, something along the lines of a digital fingerprint, and visual content in the global market. This system also aids in licensing images directly, circumventing the traditional method and providing total control over the photos while making them more economical and profitable creating employment in the global stock images market. Furthermore, adoption of licenses helps drive down the participation of intermediaries, enhance photographers’ profits, and reduce consumers expenses, while providing a larger range of product opportunities in the market. Companies such as IPStock, WeMark, Photochain, and Pibble are using blockchain technology to eliminate middlemen and facilitate the P2P transfer of value in the global market. Additionally, Kodak, Binded, ImageRights, and Ascribe are aiming to provide copyright protection using image hashes written to a distributed ledger that will give an incontrovertible record of IP in the global stock images market.
Artificial Intelligence and Machine Learning in Stock
The growing requirement for a ‘perfect’ image for use in their content, strategy, campaign, and advertisement is enabling the use of AI and machine learning in the global stock images market. The introduction of this algorithmic system in which consumers scour valuable content while simultaneously supporting the creator in the market. AIs are a smart system for stock agencies that assist to effectively monitor, accurately segregate, review images, recognize the content’s value, and offer the right content to keep up to the consumer’s requirement in the global stock images market. AI and machine learning increases the satisfaction and proves beneficial to the growth of the market. It also helps bump up underperforming content by giving it a better exposure through advanced tagging. These systems are designed to boost the image quality attract a maximum number of consumers in the global stock images market.
The global stock images and videos market are divided into five major segments that consist of the image source, application, product, license model, and geography.
APAC to grow at the fastest CAGR in the global stock images and videos market
The global stock images and videos market by geography is segmented into North America, Europe, APAC, and ROW. APAC occupied a significant portion of the market share in 2017, growing at a CAGR of around 6% during the forecast period. Digital marketing is gaining immense popularity in India and China, thereby, augmenting the growth of the APAC market. The extensive use of visual content across newsletters, blogs, and deployment of in-store activations and digital media will enable vendors to offer maximum consumer satisfaction and increasing interactions in the APAC market. Multi-million dollar investments in China, South Korea, and India will create the need for new business models in the region. The rising number of partnerships with personalized visual content production companies with a digital-first, omnichannel strategy will transform the APAC region in the global stock images and videos market. Top players are offering benefits to local companies at affordable rates with higher value addition to attract a maximum number of consumers in the global stock images and videos market.
Footage segment to grow at a considerable CAGR in the global stock images and videos market
The product segment in the global stock images and videos market is classified into still images and footage. Footage segmented dominated a section of the market share in 2017, growing at a CAGR of more than 5% during the forecast period. The rising demand for humanized, emotion-rich, substantial video content making it easy for businesses to engage their customers on social media platforms such as Facebook, Twitter, Instagram, Snapchat, and YouTube are propelling the growth of this segment in the global market.
The trend of hybrid photography format that merges into stock footage is expected to gain immense popularity in the global market over the next few years.
The growing popularity of bite-sized content is encouraging companies to launch new applications that support these images and videos in the global stock images and videos market. For instance, Shutterstock included cinemagraphs in its library through a distribution deal with Flixel which produces these living images. The launch of video formats such as 360-degree videos in AR and VR, 4K videos, drone videos, and others will revolutionize the global stock images and videos market during the forecast period.
License model segment to grow at a significant CAGR in the global stock images and videos market during forecast period
The global stock images and videos market by license model is divided into RM and RF. RF license model occupied around 1/3rd of the market share in 2017, growing at a CAGR of approximately 6% during the forecast period. The growing trend towards the offering of subscriptions or credits on demand for these images in a bid to capitalize on volume demand is one of the primary factors contributing to the growth of this segment in the global market. The vendors in this segment are increasingly classifying various bodies of work basis their quality and thus pricing the images accordingly to gain a higher number of consumers. The growing demand for RF licenses in India and Africa will attribute to the revenues in the global stock images and videos market.
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The key countries profiled in the report are:
Key Vendor Analysis
The global stock images and videos market are very concentrated and the top four players dominate the majority of the share. The specialist agencies are offering exclusive content and leveraging advanced technologies to intensify the competition in the global market. The vendors are altering the stock photography business by new approaches and models such as making mobile a platform to sustain the competition in the global market. The rapid advances in technology and frequent changes in end-user preferences will encourage players to develop innovative business models in the global market. The increasing number of consolidations and mergers and acquisitions will transform the global stock images and videos market during the forecast period.
The major vendors in the global market are:
Visual China Group
Other prominent vendors include 123RF, Alamy, AP Images, Can Stock Photo, Coinaphoto, Death to Stock, DepositPhotos, Dissolve, Dreamstime, Fotosearch, Masterfile, Photofolio, Pixta, Pond5, Reuters Images, Stocksy, SuperStock, VideoBlocks, ImagesBazaar, Videvo, Pexels, and NHK Video Bank.
Read full report here: https://www.arizton.com/market-reports/stock-images-and-stock-videos-market
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Source: EIN Presswire