LONDON–(BUSINESS WIRE)–The photo printing and merchandise market size is expected to grow at a CAGR of over 6% during 2019-2023, according to Technavio’s latest market research report. Request a free sample report
The rise of the gift culture is one of the major reasons for the growth of the photo printing and merchandise market. The giving landscape has evolved over the years. The concept of personalized gifts has gradually evolved, with an increase in the number of millennials inclined towards personalized gifts. The current trend of digitization in the world and the growing number of online users actively using the Internet are significant factors shaping the global landscape of gifts. Thus, the changing culture of giving has led to an increase in the sale of photo prints and merchandise.
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According to Technavio, the growing importance of print-on-demand services will have a positive impact on the market and contribute significantly to its growth over the forecast period. This research report also analyzes other important trends and market drivers that will affect the growth of the market over the period 2019-2023.
Photo Printing and Merchandise Market: Growing Importance of Print-on-Demand Services
Traditionally, there have been merchandise-related issues, such as the presence of unsold inventory, logistical issues, and other inventory issues. However, the introduction of print-on-demand services has reduced the problems of various vendors. In the case of print-on-demand services, products are printed as they are ordered by customers, and they are shipped and delivered by a third party. Also, there are no upfront costs or inventory or stock to manage in the case of print-on-demand services. Thus, print on demand services are gaining importance which will drive the growth of the market over the forecast period.
“Besides the growing importance of print-on-demand services, other factors such as innovations in photo printing and merchandise, and the increase in the number of mergers and acquisitions will have a positive impact on the growth of the photo printing and merchandise market over the forecast period.” says a senior analyst at Technavio.
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Photo Printing and Merchandise Market: Segmentation Analysis
This market research report segments the photo printing and merchandise market by geography (APAC, Europe, MEA, North and South America), device (desktop and mobile), product (photo only, wall decor, photo cards, photo gifts and calendars) and distribution channel (by online, retail and kiosk).
The North American region dominated the market in 2018, followed by Europe, APAC, South America and MEA respectively. The growth in North America photo printing and merchandise market share can be attributed to factors such as growing gift culture, growing demand for online photo printing services and expanding strategy of the main suppliers.
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Some of the main topics covered in the report include:
Market Segmentation Analysis
Market size and forecast
Five forces analysis
Main leading countries
Ranking of suppliers
Positioning on the supplier market
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