Picture perfect: Stable economic conditions are expected to further drive industry revenue growth

In a snapshot, growing per capita disposable income and rising advertising expenditure have driven growth for the Photography industry over the five years to 2018, as both commercial photographers and portrait photographers have benefited from increased demand for their services. Over the last decade, the improvement in digital technology and its increasing affordability have lowered barriers to entry and made it possible for individuals to start their own photography businesses. Meanwhile, the decline in newspaper and magazine publishing has created a decrease in employer photography enterprises. Over the next five years to 2023, stable economic conditions are expected to further drive industry revenue growth...purchase to read more.

Industry Statistics & Market Size
Revenue
$11bn
Annual Growth 13-18
1.9%
Forecast Growth 18-23
Profit
Employment
226,533
Businesses
202,891
Market Share of Companies

Industry Threats & Opportunities

  • The decline in newspaper and magazine publishing has created a decrease in employer photography enterprises
  • The number of mobile internet connections and the rapid improvement in quality of digital cellphone cameras has increased external competition
  • Demand for commercial photography services are expective to drive industry demand
  • 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. Due to the service nature of the industry, capital intensity is low; for every dollar spent on wages, the industry spends an estimated $0.11 on specialized equipment and other capital investments. Capital investment for the industry is in the form of printing equipment, high-end cameras and computer technology, all of which lose value over time. Photo-lighting equipment for example, usually has an effective lifespan of less than two years. Electronic equipment such as cameras, memory cards and photo-finishing software is also replaced or upgraded regularly...purchase to read more.

    Additional Insights for the Photography Industry

    IBISWorld identifies 250 Key Success Factors for a business.The most important for the Photography Industry are

  • Effective quality control
  • Good project management skills
  • Ability to provide goods/services in diverse locations
  • IBISWorld analysts also discuss how external factors such as Per capita disposable income and Total advertising expenditure in the Photography industry impact industry performance..

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    What's in this report

    What is the Photography Industry?

    The Photography industry encompasses companies and individuals that offer a range of photographic services, including still photography and videography for private events. Commercial and portrait photography studios are also included in this industry. This industry excludes all photography related to movie, TV and video production (see IBISWorld reports 51211a and 51211b).

    Industry Products
  • Portrait Services
  • Wedding photography
  • Commercial or industrial photography services
  • All other services
  • Industry Activities
  • Individual or group portrait photography
  • School portrait services
  • Commercial or industrial photography
  • Wedding and other special occasions photography
  • Sports photography
  • Table of Contents

    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources
    Industry Statistics Snapshot
    Industry Structure
    Executive Summary
    Executive Summary
    Key External Drivers
  • Per capita disposable income
  • Total advertising expenditure
  • Corporate profit
  • Marriage rate
  • Number of K-12 students
  • Number of mobile internet connections

  • Current Performance
  • A snapshot of consumer demand
  • Industry dominated by non-employers
  • Industry trends
  • Chart: Revenue Growth

  • Industry Outlook
  • Ongoing demand
  • CASE Act of 2017
  • Industry structure
  • Table: Photography Industry Revenue Outlook

  • Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Photography Industry Lifecycle vs The Economy

  • Supply Chains
    Key Buying Industries
  • Advertising Agencies
  • Public Relations Firms
  • Educational Services
  • Religious Organizations
  • Civic, Social & Youth Organizations
  • Consumers

  • Key Selling Industries
  • Camera & Film Wholesaling
  • Camera Stores
  • Department Stores
  • Retail Trade

  • Products & Services
  • Portrait Services
  • Commercial or industrial photography services
  • All other services
  • Wedding photography
  • Chart: Photography Industry Products and Services Segmentation

  • Demand Determinants
  • Consumer Demand
  • Demand from Businesses

  • Major Markets
  • Households and individual consumers
  • Businesses
  • All other customers
  • Chart: Major Market Segmentation for the Photography Industry

  • International Trade
    Business Locations
    Chart: Business Locations by State
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
    ProfitWagesPurchasesDepreciationRent and utilitiesOther costs
  • Chart: Cost Structure Benchmarking – Sector vs Photography

  • Basis of Competition
    Internal competitionExternal competition
    Barriers to Entry
  • Table: Barrier to Entry Checklist for the Photography Industry

  • Industry Globalization
    Shutterfly Inc.,
  • Table: Shutterfly Inc. - financial performance

  • Capital Intensity
  • Chart: Level of Capital Intensity for the Photography Industry
  • Chart: Tools of the Trade: Growth Strategies for Success

  • Technology & Systems
    Revenue Volatility
  • Chart: Volatility vs Industry Growth

  • Regulation & Policy
    Industry Assistance
    Table: Industry Data for the Photography Industry
    Includes:
  • Industry Revenue (2009-2023)
  • Industry Gross Product (2009-2023)
  • Establishments (2009-2023)
  • Businesses (2009-2023)
  • Employment (2009-2023)
  • Wages (2009-2023)
  • Per capita disposable income (2009-2023)

  • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
    Table: Industry Financial Ratios
    Digital Camera
  • A camera that records images as digital data, usually onto a memory card, instead of on film.
  • Photofinishing Software
  • A computer software packaged that enables users to edit digital photographs
  • Point-And-Shoot Camera
  • The most popular type of camera used by consumers. Point-and-shoot cameras are not used by professional photographers because of their simple design and lack of advanced features.
  • Portraiture
  • Individual or group photography usually focused on an accurate representation of people's faces.
  • Postproduction
  • The period after filming, when a show or film is readied for public presentation.
  • Single Lens Reflex (Slr) Camera
  • The digital SLR camera has become the industry standard for most professional photographers because of its versatility, higher image quality and greater selection of available accessories.
  • What Our Customers Say

    Why buy this report?

    IBISWorld’s Photography Industry Research Report offers insight into the market at the national level. Our analysis highlights macro trends in the overall sector and the micro trends faced by companies that do business in the Photography industry. Our five-year outlook forecasts explain how the market is set to change and the product segments that will drive growth.

    IBISWorld industry market research reports enable you to:
    • Find out about key industry trends
    • Identify threats and opportunities
    • Inform your decisions for marketing, strategy and planning
    • Quickly build competitive intelligence
    This report on Photography:
    • Provides Market Size information to assist with planning and strategic decisions.
    • Includes the necessary information to perform SWOT, PEST and STEER analysis.
    • Helps you understand market dynamics to give you a deeper understanding of industry competition and the supply chain.
    • Analyses key performance and operational metrics so that you can benchmark against your own business, that of your customers’ businesses, or your competitors’ businesses.
    The Photography market research report includes:
    • Historical data and analysis for the key drivers of this industry
    • A five-year forecast of the market and noted trends
    • Detailed research and segmentation for the main products and markets
    • An assessment of the competitive landscape and market shares for major companies
    • And of course, much more

    IBISWorld reports on thousands of industries around the world. Our clients rely on our information and data to stay up-to-date on industry trends across all industries. With this IBISWorld Industry Research Report on Photography, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

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