The global stock images market size is anticipated to grow from USD 4 billion to USD 7.16 billion in 10 years. The market will experience rapid growth of e-commerce during the forecast period.
Newark, July 31, 2024 (GLOBE NEWSWIRE) — The Brainy Insights estimates that the USD 4 billion in 2023 global stock images market will reach USD 7.16 billion in 2033. Stock images are a type of professionally taken or clicked photographs that are then marketed for use under specific licencing terms. They can be paid for or used for personal purposes, and they can also be used to advertise products. Stock images are a readily available source of photographs that offer a wide variety of images to meet the needs of users without requiring them to hire or click professional pictures for their projects. This saves users time and money and generates revenue for stock image agencies. They are very good quality, have a large selection, are simple to use, and can be tailored to the user’s specifications. It makes it possible to get top-notch photos taken by top-notch professionals regardless of location. They are employed for profit in social media, e-commerce listings, content production, brand promotions, and advertising and marketing initiatives. Additionally, they are utilised in educational publications, editorials, editorial pages, and newspapers.
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Key Insight of the Global Stock images Market
North America will dominate the market during the forecast period.
The dominance of the market will be strengthened by the growing field of digital marketing. The market will rise as a result of the expanding influence of social media and the growing dominance of digital content generation, which is primarily dependent on photos and videos to reach new audiences. The region’s varied content production contributes to the market’s expansion. The expansion of the industry is further facilitated by the availability of experts to curate these stock photos. Additionally, the market will expand and flourish as a result of growing marketing budgets, particularly in the digital media sector given the expanding consumption of digital content. The presence of significant stock image agencies in the area contributes to the market’s expansion.
In 2023, the free segment dominated the market with the largest market share of 57% and revenue of 2.28 billion.
The type segment is divided into free and paid. In 2023, the free segment dominated the market with the largest market share of 57% and revenue of 2.28 billion.
In 2023, the commercial segment dominated the market with the largest market share of 56% and revenue of 2.24 billion.
The application segment is divided into commercial and editorial. In 2023, the commercial segment dominated the market with the largest market share of 56% and revenue of 2.24 billion.
Advancement in market
Generative AI by iStock, a text-to-image platform, was introduced by Getty Images and Nvidia. This cutting-edge tool will revolutionize the way small and medium-sized enterprises obtain and use stock pictures by providing a more accurate and effective answer for their demands in visual material. Unlike Getty Images’ multiuser enterprise solution, iStock’s generative AI is specifically tailored to individual or single-seat users and is trained on Nvidia’s Picasso model. This platform uses just the creative library of Getty and the stock photo library of iStock; it purposefully does not use the editorial image library of Getty in order to prevent creating trademarks or well-known individuals.
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Market Dynamics
Driver: The market for digital media is growing.
More people are becoming owners of smart, connected gadgets, which has expanded access to digital media. Additionally, this has increased demand for digital content, which in turn has led to the rise of the digital media business and helped it to proliferate. The expansion of high-speed internet connection contributes to the market’s expansion as well. The content landscape is shifting in favour of visuals, with videos and photographs being favoured over other formats. This has increased demand for stock photos, which provide a professional and high-quality collection of images. High-speed internet access has made it possible for a larger worldwide audience to consume digital information, which means that there is always a demand for interesting and new images. The highly visual nature of social media platforms like Facebook, Instagram, and TikTok encourages users and marketers to constantly search for fresh content. In order to draw in and hold the attention of audiences, the move in marketing and advertising to the internet also significantly depends on captivating visuals. Thus, the expansion of the global stock picture market will be propelled by the rising digital media sector.
Restraints: The erratic calibre of stock photos.
Stock image quality varies greatly because of factors including the cameras and lenses used, the photographers’ abilities, lighting, setup, and editing capabilities of the software used to facilitate editing. These anomalies may result in the production of low-quality images or high-quality ones. After printing these photos or distributing them across platforms, the quality could change. The audience may get detached from the inauthenticity or almost flawless setups and visuals, which could be harmful to the businesses because the audience may find it difficult to relate to. Therefore, the growth of the market will be hampered by the inconsistency and inauthenticity.
Opportunities: The growing demand for e-commerce.
E-commerce has expanded as a result of the growing popularity of online shopping for consumer products, apparel, food, furniture, electronics, footwear, utilities, and other items due to its ease. The proliferation of smart, connected devices contributes to the growth of e-commerce. For e-commerce to succeed, it needs only provide products in high-quality photos and videos to draw in customers. To earn customers’ trust and provide authentic items to safeguard brand reputation, it must be as near to the original as possible, if not an exact replica. Since they are the only sources of visual information, images and videos play a crucial role in the decision-making process of consumers. Consequently, over the course of the projected period, the growing e-commerce sector will propel the expansion of the worldwide stock picture market.
Challenges: Licensing restrictions.
Creating high-quality stock images entails substantial capital investment. These images are products with a value and licensing protects the ownership of these valuable products. licensing and copyrighting is how stock images make money for their curator. There are different terms under licensing agreements which indicate where or how many times they can be used among other things. The non-compliance of these terms leads to legal action which can lead to financial losses for users violating the terms. Licensing restriction promote limited accessibility and therefore challenge the market’s growth.
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Some of the major players operating in the global stock images market are:
• Adobe Inc.
• Canva Inc.
• Depositphotos Inc.
• Dreamstime
• Getty Images Holdings, Inc.
• Inmagine Lab Pte. Ltd.
• Shutterstock Inc.
• Stocksy United
• The Associated Press
• Unsplash
Key Segments covered in the market:
By Type
• Free
• Paid
By Application
• Commercial
• Editorial
By Region
• North America (U.S., Canada, Mexico)
• Europe (Germany, France, the UK, Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America)
• The Middle East and Africa (UAE, South Africa, Rest of MEA)
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About the report:
The market is analyzed based on value (USD Billion). All the segments have been analyzed on a worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report analyses driving factors, opportunities, restraints, and challenges to gain critical market insight. The study includes Porter’s five forces model, attractiveness analysis, Product analysis, supply and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
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