Photographic Services Industry Profile

Report Page Length: 10-12
Last Quarterly Update: 1/3/2023
SIC Codes: 7221, 7335
NAICS Codes: 54192
Chapters Include:
Industry Overview Trends & Challenges Industry Forecast
Quarterly Industry Update Call Prep Questions Website & Media Links
Business Challenges Financial Information Glossary & Acronyms
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Excerpt from Photographic Services Industry Profile

Companies in this industry provide still, video, or digital photography services, such as commercial and industrial photography, portrait photography, and special events photography. Major US companies include portrait studios Cherry Hill Programs, Lifetouch, and Picture People, as well as commercial photo service Getty Images. Outside the US, major companies include H Tempest (UK), Studio Alice (Japan), and Visual China Group.

The global photographic services market is valued at over $40 billion in 2022 and may reach about %60 billion in 2026 at a compound annual growth rate (CAGR) of 8.5%, according to the Business Research Company. Asia-Pacific is a major market, just after North America.

The US photographic services industry includes about 15,000 establishments (single-location companies and units of multi-location companies) with combined annual revenue of about $6 billion. There are about 1,700 individual proprietorships, making up about 10% of the industry.

COMPETITIVE LANDSCAPE

Demand is closely tied to consumer income and corporate marketing activity. The profitability of individual companies depends heavily on effective marketing. Large companies have economies of scale in marketing and production. Small companies can compete effectively by offering specialized services or holding favorable locations. The US photographic services industry is fragmented: the 50 largest companies generate about 40% of revenue.

Providers of photographic services compete with consumers who have adopted a do-it-yourself mentality when it comes to photography, thanks in part to digital cameras embedded in smartphones. A growing ...

 
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