Photo printing is the procedure of creating a final image on paper for observing chemically induced paper. The paper is visible to a photographic negative, a positive transparency or a digital image file. The printing is either done on black and white paper or on colored paper.
Over the past few years, the global photo printing market has grown at a rapid pace and is anticipated to witness steady growth in the future as well. The popularity of digital photo printing has led to rapid uptake in the end-use segments.
Though digital printing has a higher cost per page as compared to traditional printing, the cost is counterbalanced by not having it necessary to have all the technical procedures in place that are vital to frame printing plates.
While rising smartphone ownership has got more people clicking photos, it has also led to a decline in the number of people actually printing their photos. As people carry their smartphones with them all the time, they hardly feel the need to print their photos. This is a major factor that has curbed the growth of the market in the recent years, and it’s expected that in the future, this factor will continue to pose challenges to growth.
Global Photo Printing: Market Segmentation
The global photo printing market is segmented on the basis of film printing and digital printing, of which the latter is expected to gain majority share in the global photo printing market during the forecast period.
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On the basis of distribution channels, the global photo printing market is also sub-divided into instant kiosk, retail, over-the-counter, online stores, and mail order.
Global Photo Printing Market: Growth Drivers
Higher business growth and enhanced focus on customer satisfaction will promote growth of the photo printing market during the forecast period. In addition to this, the paradigm shift towards online photo sharing has bolstered the growth for online photo printers.
In the next few years, innovation in technology is anticipated to provide customisation options for consumers and professional photographers. Thus, the revenue of the global photo printing market is forecasted to witness an increase in the future.
Global Photo Printing Market: Regional Outlook
The global photo printing market is studied for the major regions which include North America, Latin America, Western Europe, Eastern Europe, Asia-Pacific, Japan, Middle East and Africa. The U.S. is the dominant player in the global photo printing market, and is expected to maintain its dominance of the global market during the forecast period as well. Asia Pacific, with a burgeoning middle class population, will continue to offer growth opportunities to manufacturers in the global photo printing market.
Global Photo Printing Market: Players
Some of the major players identified across the value chain in the global photo printing market include Snapfish, Prodpi, Bay photo, Adoramapix, and Digitalab. The companies are focusing on expanding their offerings in order to expand their market share in the overall global photo printing market in the future.
Shutterfly has captured the highest market share in the global online photo printing market in 2015. This has been majorly due to various acquisitions done by the company over the past few years. The global photo printing market is anticipated to stay competitive, owing to which a number of new entrants are expected to foray into the market.
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