The global stock images and videos market is expected to grow at a CAGR of over 5% during the period 2018-2024
NEW YORK, Sept. 19, 2019 /PRNewswire/ --
The global stock images and videos market is expected to grow at a CAGR of over 5% during the period 2018-2024.
Read the full report: https://www.reportlinker.com/p05482345/?utm_source=PRN
As traditional advertising revenues that mandate the use of images are phasing out, digital storytelling tools such as videos, photography, drones, and interactive graphics are creating engaging communication. The magnetism toward emotive, experiential, and immersive content that offers consumers new experiences is the main driver for this new form of communication. This trend is driving the growth of global stock images and videos market.
The era of instant gratification has compelled brands and businesses to use bite-sized and short-form content. Made-for-social programming and video streaming have become popular due to the thrill of novelty they offer. This is opening new avenues for marketers to advertise. Therefore, for this form of content, stock visuals account for a big part. Moreover, as these platforms are rolling out tons of video content, graphics, and images, they are expected to drive the demand in the global stock images and videos market.
The following factors are likely to contribute to the growth of the stock images and videos market during the forecast period:
-- Growth of Content Automation and Personalization Evolving Art Appreciation
-- Blockchain Technology Making Inroads
-- Growth of Platform Integrations
-- Growing Proliferation and Popularity of Museums
-- Rapid Shift to Vertical Formats
Artificial Intelligence(AI) acts as a smart system for stock agencies to effectively monitor and accurately segregate, review images, recognize the content's value, and offer the right content to align with the consumer's requirement. AI tools can generate tags based on image recognition, allowing users to efficiently source keywords that validate the image. It offers intelligent keywording features that improve accuracy and save time. This helps increase satisfaction and proves beneficial to the growth of the stock images and videos market. .
This research report on the stock images and videos market covers market sizing and forecast, market share, industry trends, growth drivers, and vendor analysis. The market study includes insights on segmentation by products (still images and videos), license(rights-managed (RM) and royalty-free (RF)), application(commercial and editorial), source (macrostock and microstock), end-user (marketers, films and TV producers, media & publishing companies, and business and individual creators),and geography (APAC, Europe, Latin America, MEA, and North America).
The study considers the present scenario of the stock images and videos market and dynamics for the period 2018?2024. It covers a detailed overview of several market growth enablers, restraints, and trends. The report covers both the demand and supply aspect of the market. It profiles and examines leading companies and other prominent companies operating in the stock images and videos market.
Stock Images and Videos Market: Segmentation
This research report includes detailed market segmentation by product, application, license, source, end-user, and geography. With the growth of online purchases, strong visuals are becoming a prerequisite for the e-commerce industry. Nearly 80% of marketers are under pressure to demonstrate the effectiveness of visual content through ROIs. Thus, several e-commerce players depend on white background studio shots images, thereby increasing the requirement of adding context without heavy expenditure. Another instance, which has increased volume growth of stock images is the frequent use of a data-driven approach to better streamline efficiency. This has led to the use of images from a wider database. Brands are increasingly investing in short films or extended videos. They also seek videos for extra production value in a bid to captivate fickle online viewers. This has increased the demand for snackable content. The hybrid photography format is merging into stock video and is expected to become hugely popular during the forecast period. Businesses are investing in this market due to the growing demand for humanized, emotion-rich, substantial video content, making it easy for them to engage their customers on social media platforms.
While stock content agencies offer content to their consumers, licensing these images to protect the ownership rights becomes imperative. Driven by the growth of the microstock industry, RF license models have become widely popular. With a lot of SMEs finding this model more appealing and economical and with the arrival of a host of new businesses on the scene, the demand has blown up. While it seems like the days of Rights Managed(RM) images are over, stable economic growth will drive spends on quality imagery, intensified by the need to prevent brand dilution. Major companies and brands that usually conduct business and marketing on a global scale are the go-to with these licenses.
The commercial stock images market is witnessing disruptions. However, a few industry stakeholders realize how rapid the transformation needs to be to accommodate the change. Digitization is changing everything and driving conversations on mediums and platforms and creating an entirely new category for imagery. The editorial section has tremendous potential as off-site news consumption has grown rapidly. At present, online news is largely driven by platforms, technology, and publishers, instead of consumer demand. The push toward maintaining editorial video libraries is high due to automated processes, which make producing content easy.
Brands seek to maintain exclusivity in a market where social influence is widespread. With the emergence of a greater number of aspirational brands, macrostock seems more appealing than ever. However, macrostock agencies have firmly grounded their revenues, accounting for the largest share in the stock images and videos market, their growth has slowed comparatively. Microstock is more popular among value-conscious countries, which mostly fall under the developing umbrella, such as India. Given the rapid growth in its initial years, the underestimated microstock market received a seal of trust from macrostock agencies that began creating or acquiring microstock divisions to even out their range of customers. The trend of broadening the microstock repertoire is also gaining pace.
Neuromarketing is gaining prominence, specifically among digital marketers that have traditionally used views, scroll depth, leads, subscriptions, and social shares to measure campaign performance. However, digital marketers are now focusing on emotional resonance. With smartphone consumption rising, the second screen concept is booming. This is due to frequent participation in online conversations and scrolling through social feeds while watching live events or TV programs. Currently, a high share of television content is accessed via the internet. This allows for a higher addressable TV, where marketers can streamline and divide audiences based on their characteristics such as behavior, using technology. This is a major divergence from the way TV audiences are targeted. Furthermore, programmatic TV is also on the rise. The demand for interactive and immersive experiences is growing, with 42% of consumers wanting to watch movies in the 360-degree format and 29% wanting the same experience for television shows. The use of stock videos cinematographers to pre-visualize scenes from scripted content is a trend that is surfacing in the stock images and videos market.
Market Segmentation by Products
-- Still Images
-- Videos
Market Segmentation by License
-- Rights-Managed (RM)
-- Royalty-Free (RF)
Market Segmentation by Application
-- Commercial
-- Editorial
Market Segmentation by Source
-- Macrostock
-- Microstock
Market Segmentation by End-user
-- Marketers
-- Films and TV Producers
-- Media &Publishing Companies,
-- Business and Individual Creators
Stock Images and Videos Market: Geography
About 45 of the world's 100 largest advertisers have a strong presence in North America, which accounts for more than $130 billion of advertising spends. This makes the region among the most lucrative markets for stock images and videos. Further, cyclic events such as the Olympics and US presidential elections have affected the advertising space in North America. Retail, automotive, telecom, financial services, and restaurants are the leading advertising spends, dictating the demand for relevant stock visual content. The region is also witnessing high investments in other revenue streams to live on, moving into spaces such as events and videos. These trends are witnessing an increased focus on developing better user experiences to prevent the erosion of viewership through the creation of multimedia content. The dependency on visual and interactive storytelling is also high, creating opportunities for dynamic data visualizations, videos, and more. Improved corporate profits and the growth of individual content creators will create a massive playground for stock images from VR to videos in the US. The increasing popularity of paid search, social, and e-mail campaigns is creating high demand for visual components. The growth of the European stock images market has picked up and is stimulated by attractive financing conditions and growing corporate profitability. The online advertising spending of the country from mobile and video is expected to increase with growth in population and 50% of online advertising revenue coming from mobiles.
Middle-East and Africa is witnessing spotty growth. With the increasing penetration of the internet and shift in focus on a more knowledge-based society, the region is investing heavily in digital marketing using innovative tools such as theming to promote their services and products. The demand for content is thus expected to be diverse and depend on image packages.
Market Segmentation Geography
-- APAC
o China
o Japan
o Australia
o South Korea
o India
o Indonesia
o Malaysia
-- Europe
o Germany
o France
o UK
o Spain
o Italy
o Sweden
o Poland
o Turkey
-- North America
o US
o Canada
-- Latin America
o Brazil
o Mexico
o Argentina
-- Middle-East & Africa
o UAE
o South Africa
o Saudi Arabia
Key Vendor Analysis
The global stock images and videos market is highly consolidated. Since Getty Images and Corbis imposed a consumer-facing business model (i.e., low price, high volume), the industry has not changed much. While there are several specialist agencies and mom- and- pop shops, the latter's growth seems hazy. Specialist agencies, however, can survive provided as they keep up with technology and demand developments. Major agencies, such as Getty Images, often represent smaller ones, benefitting from their exclusive content and giving them an opening. There are also several platforms that have also come up to cater to amateurs.
Getty Images, Visual China Group, Shutterstock, and Adobe Stock are the four major vendors that dominate the stock images and videos market. Several small and large vendors are altering the stock photography business by new approaches and business models. With a lot of vendors trying to cut costs due to shrinking revenues, offering any kind of service apart from the basic is limiting their growth. Several larger players have witnessed a decline in revenues over the last couple of years due to consolidation that devalued the stock images and videos market.
Key Vendors
-- Adobe
-- Getty Images
-- Shutterstock
-- Visual China Group (VCG)
Other Prominent Vendors
-- 123RF
-- Alamy
-- AP Images
-- Art-list
-- Can Stock Photo
-- Coinaphoto
-- Death to Stock
-- Depositphotos
-- Dissolve
-- Dreamstime
-- Envato
-- Fotosearch
-- ImagesBazaar
-- Masterfile
-- Motion Array
-- NHK Video Bank
-- Pexels
-- Photofolio
-- Pixta
-- Pond5
-- Reuters Pictures
-- Stocksy
-- Storyblocks
-- SuperStock
-- Videvo
Key Market Insights
The analysis of the stock images and videos market provides market sizing and growth opportunities for the forecast period 2019-2024.
-- Offers market sizing and growth prospects of the stock images and videos market for the forecast period 2019-2024.
-- Provides comprehensive insights on the latest industry trends, market forecast, and growth drivers in the stock images and videos market.
-- Includes a detailed analysis of market growth drivers, challenges, and investment opportunities.
-- Delivers a complete overview of market segments and the regional outlook of the stock images and videos market.
-- Offers an exhaustive summary of the vendor landscape, competitive analysis, and key market strategies to gain a competitive advantage in the stock images and videos market.
Read the full report: https://www.reportlinker.com/p05482345/?utm_source=PRN
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