Industry Analysis & Industry Trends
The Photography industry has experienced a number of changes as digital cameras and postproduction technologies have increasingly affected operators. While photographers are benefiting from the changes by increasing their efficiency and availability, consumers are now able to take professional-quality images without the need for a specialist. Still, revenue is expected to improve slightly in the next five years as operators focus on niche markets, such as events, sports and church directory photography, to sustain demand... purchase to read more
Industry Report - Industry Investment Chapter
The industry is labor intensive because photographers perform many service-oriented tasks, in addition to taking, editing and selecting photographs. The shift to digital technology has not reduced operators' labor requirement, but it has increased the volume of production by allowing photographers to capture and edit more photographs, producing higher-quality results and offering customers a wider range of products. For every dollar spent on wages the industry spends about $0.04 on equipment.
During the five years to 2013, IBISWorld expects that wage costs will increase at an annualized rate of 0.4% as revenue falls at a 1.9% annualized rate. This effectively boosted wages to 48.3% of revenue, up from 43.1% in 2008... purchase to read more