Press release
Photo Printing and Merchandise Market to Grow at a CAGR of 2.6% by 2026
Advent of digital imaging technology can be identified as the point from where roll films were ordained to go out of business.
The declining demand for cameras with film rolls is directly associated with growing adoption of digital cameras. Consumers grew more inclined towards digital cameras, thereby making photo printing and merchandise obsolete.
Furthermore, time consumed by dye sublimation photo printers added to this shift towards instantaneously-rendered digital images. Poor image quality and expensive costs of conventional inkjet printers further deterred consumers from photo printing & merchandise.
Future Market Insights’ recent report predicts a very unavailing future for the global photo printing & merchandise market. Above factors have been compiled in the report to define the dynamics of global market for photo printing & merchandise. Based on these, the US$ 16.8 Bn market for photo printing & merchandise will see a decelerated revenue growth at 2.6% CAGR, bringing in just over US$ 21.7 Bn by the end of 2026. Future Market Insights projects that in the ten-year forecast period, photo printing & merchandise worth a little less than US$ 5 Bn will be sold across the globe. The report also highlights trends which will, in one way or another, boost the sluggish adoption of photo printing among digital age consumers.
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Firstly, manufacturers of photo printing merchandise are expected to maintain more focus on introducing kiosks for increasing marketing exposure. Companies like Fujifilm Group have already deployed their SmartPix photo kiosks across various commercial settings such as supermarkets, malls and camera shops, and have also augmented them with enhanced connectivity features. Instating NFC capabilities in photo printing kiosks can be also observed as another promising opportunity for manufacturers to generate interest among customers towards conventional photo printing.
Although, almost half of global photo printing & merchandise revenues are likely to be coming from online sales. While instant kiosks account for less than 10% of the market value, online distribution of photo printing & merchandise will bringing more than US$ 12.2 Bn revenues through 2026. Meanwhile, distribution of photo printing & merchandise through retail channels will be scaling down rigorously, exhibiting a negative 1.6% CAGR during the forecast period.
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The report has analysed that in 2016, an estimated one-third of global photo printing & merchandise revenues emanated from sales of film printing. This indicates that a majority of consumers are preferring digital printing merchandise. Also, over the forecast period, the report projects an impressive growth in demand for mobile application-based photo printing. Desktop applications are expected to lose out to mobile applications as this mode of printing is projected to register a comparatively faster revenue growth at 4.9% CAGR.
The report also predicts fastest revenue growth in the Asia-Pacific excluding Japan region – 3.9% CAGR. North America is also expected to dominate with nearly one-fourth stake in global revenues, although the region is likely to lose out its presence beyond 2020. Leading manufacturers of photo printing & merchandise, profiled in the report, include Sanpfish, Eastman Kodak Company, Cimpress NV, Bay Photo Inc., Digitalab, AdoramaPix LCC, Shutterfly, Inc., and Mpix.
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