Summary
The global Microstock Photography Agency Market is expected to witness a CAGR of xx% over the forecast period 2020-2026 and is expected to reach US$ xx million in 2026, from US$ xx million in 2019.
Overview
Microstock photography, also called microstock photography, is part of the digital stock photography business. It is the photography that has been taken for a cost less than six hundred dollars or any amount lower than this. It can be used for commercial or personal purposes. People who take these types of photos are mostly freelancers and non-professionals. Microstock photography can also be great for students who are taking pictures as a hobby. They can get access to professional photography that is often times very expensive for them to buy. The global microstock photography agency market focuses on six regions namely North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. The global microstock photography agency market is expected to witness significant growth during the forecast period, owing to rising demand for animation production and animated stock images.
Market Drivers
Growing adoption of AI and ML in stock content for image recognition is expected to drive growth of the global microstock photography agency market during the forecast period. Artificial intelligence and machine learning are increasingly becoming prevalent in stock photography where neural processing unit (NPU) is used to enhance AI capabilities. It can be used for image adjustments, image recognition, and other applications. For instance, in July 2021, Shutterstock, Inc. launched Shutterstock.AI, a new subsidiary along with the acquisition of key AI firms Pattern89, Datasine, and Stortz. Hence, such factors are expected to drive growth of the global microstock photography agency market during the forecast period. Furthermore, rising demand for animation production and animated stock images is expected to propel the global microstock photography agency market growth over the forecast period.
Market Restraint
Illegal downloads and availability of free images are expected to restrain growth of the global microstock photography agency market during the forecast period.
Regional Insights
Among regions, Asia Pacific is expected to witness significant growth in the global microstock photography agency market during the forecast period. This is owing to rising demand for stock images for commercial applications in the region. Furthermore, North America is expected to register a robust growth rate, owing to rising demand for animated stock images in the region.
Competitive Section
Major companies involved in the global microstock photography agency market are Shutterstock Inc., Veer, Tuchong, Huitu, Adobe, 123RF Limited, Meisu Pic, and Paixin.
For instance, in January 2021, Shutterstock Inc. acquired TurboSquid, a 3D modeling company, for US$ 75 million.
The Microstock Photography Agency Market report highlights product development and growth strategies such as mergers and acquisitions adopted by market players along with SWOT Analysis, PEST and Porter’s Five Forces analyses of the Microstock Photography Agency Market, which highlight the strengths, weaknesses, opportunities, and commination of key companies. Moreover, the report offers two distinct market forecasts, one from the perspective of the producer and another from that of the consumer.
The various contributors involved in the value chain of the product include manufacturers, suppliers, distributors, intermediaries, and customers.
The Key Manufacturers covered in this Report:-
- 123RF Limited
- Adobe
- Depositphotos, Inc
- HelloRF
- Huitu
- iStockphoto
- Meisu Pic
- Microfotos Inc.
- OriginooStock
- Paixin
- Shutterstock, Inc.
- Tuchong
- Veer
By the Product Type, the market is primarily segmented into:
- Professional Photographers Only
- Amateur Photographers Only
- Both Professional and Amateur Photographers
By Applications, the market is segmented into:
- Personal User
- Enterprise User
- Other User
The Report covers the following Regions:
- North America
- United States
- Canada
- Mexico
- Asia Pacific
- China
- Japan
- South Korea
- India
- Australia
- Indonesia
- Thailand
- Malaysia
- Philippines
- Vietnam
- Europe
- Germany
- France
- UK
- Italy
- Russia
- Central & South America
- Middle East & Africa
- Turkey
- GCC Countries
- Egypt
- South Africa
Objective of the Microstock Photography Agency Market Report:
- To assess the size of the market by value and volume
- Analyze the Microstock Photography Agency Market in terms of regions and major countries
- Highlight recent developments and trends in the market
- Offer perceptive data regarding major market players in terms of key developments, strategies, and product portfolio
- Determine share of the Microstock Photography Agency Market in terms of various segments such as by product type, application, and end-user
- Offer accurate projection of the market for the forecast period using state-of –the-art tools and the current primary and secondary research approaches
- Discuss major factors that impact growth of the Microstock Photography Agency Market
The Microstock Photography Agency Market engages the readers with all pivotal approaches to understand their position in the industry based on revenue or sales growth. The report efficiently evaluates the Microstock Photography Agency Market from various dimensions to deliver an end-product that is informative, elaborate, and accurate and includes detailed market segmentation, regional analysis, and competition in the market. The information in the report is backed by annual company reports, financial reports, press releases, regulatory databases, government documents, and statistical databases.
For the data information by region, company, type and application, 2019 is considered as the base year. Whenever data information was unavailable for the base year, the prior year has been considered.
Key Stakeholders:
- Material suppliers/wholesalers
- Market Distributors/traders
- Regulatory bodies
- Research organizations, and consulting firms
- Commercial research & developments (R&D)
- Trade associations and industry bodies
- Importers and exporters
- End-use industries
Available Customizations:
Custom research is one of the most crucial components of the business strategy that helps an organization gain insight into specific business sector, aligned with its specific area of interest. Thus, SMI offers more accurate, pragmatic, and actionable information specifically tailored to suit your business needs.
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