Jersey City, New Jersey, Oct. 12, 2021 (GLOBE NEWSWIRE) — Verified Market Research recently released a report, “online photo printing market» By type (film printing and digital printing), by application (personal and commercial use) and by geography. According to Verified Market Research, the global online photo printing market size was valued at USD 13,074.70 Million in 2020 and is projected to reach USD 21,082.23 Million by 2028, growing at a CAGR of 6 .47% from 2021 to 2028.
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202 – Pages
126 – Tables
37 – Numbers
Overview of the global online photo printing market
Rising adoption of smartphones at a substantial rate owing to the great convenience associated with them is driving the growth of the market. An increase in disposable income with a higher tendency to spend on luxury gifts is another important factor promoting the growth of this market. For example, according to Oberlo statistics, the total number of smartphone users worldwide in 2020 was 3.6 billion, up from 3.4 billion in 2019, representing an annual growth of 5.9%.
Smartphones are now the most popular devices for taking photos. Tremendous advances in smartphone camera capabilities, along with the culture of quick feedback promoted by social media apps like Instagram, make it more likely that users will be pressured into taking and sharing images, no matter what. their profession or not. According to research firm InfoTrends, camera sales have dropped dramatically, but the number of photos taken has increased dramatically, with an estimated 1 trillion images taken in 2017. These statistics clearly show that consumer preference is shifting towards digital devices, which is expected to propel the growth of the global online photo printing market. In addition to this, the continuous development of new products, the growing culture of gifts and the growing demand for personalized 3D printed photo gifts are the major factors driving the growth of the online photo printing market. Additionally, rising popularity of adventure tourism, rising culture of personalized photo frame gifts, and rising per capita income are some of the factors that have triggered the growth of the photography market, ultimately supporting the growth of the online photo printing market.
Main developments in online photo printing market
- Printful partners with local manufacturers in two major Brazilian cities, Rio de Janeiro and São Paulo, to provide its services in Brazil. One of the partners will print apparel products, while the other will focus on interior, home and living items.
- PhotoBox has acquired Greetz, a Netherlands-based online greeting site that delivers and ships e-cards and gifts to local customers.
The major market players are Market Cewe, Printful, Mixbook, Vistaprint, Amazon Prints, Walmart and others.
Verified Market Research has segmented the global online photo printing market on the basis of type, application, and geography.
- Online Photo Printing Market, By Type
- Film printing
- Digital printing
- Online Photo Printing Market, By Application
- Personal use
- commercial use
- Online Photo Printing Market by Geography
- North America
- The rest of Europe
- Asia Pacific
- Rest of Asia-Pacific
- Middle East and Africa
- Latin America
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