LONDON–(BUSINESS WIRE)–The global stock image market size is expected to grow by USD 1.82 billion during the period 2020-2024, according to Technavio’s latest market research report. Request a free sample report
Growing internet penetration and growing use of smart gadgets including smartphones and tablets has resulted in increased exposure to social and digital media platforms. The growing popularity of stock images on social media platforms such as Facebook, Instagram, Pinterest, Snapchat has increased the growth prospects of the global stock images market. Several market players are also implementing various tools to help their customers transform their images. Moreover, the demand for stock images has grown tremendously worldwide for advertising and promotional purposes.
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According to Technavio, the growing demand for moving images will positively impact the market and contribute 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 during the period 2020-2024.
Global Stock Image Market: Growing Demand for Moving Images
Increasing technological advancements have led to the development of new avenues for product promotion and advertising, which has led to an increase in the demand for interactive promotional products. Marketers and promoters use different platforms to reach their target audience. It also encouraged them to use interactive tools such as Graphic Interchange Format (GIF) stock images. Thus, the growing adoption of moving images will drive the growth of the global stock images market over the forecast period.
“Rapid growth in the e-commerce market, increasing evolution of business models and growing use of marketing intelligence will drive the demand for stock images during the forecast period,” says a senior analyst at Technavio. .
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Global Stock Image Market: Segmentation Analysis
This market report segments the global stock image market by application (editorial and commercial), image source (macrostock and microstock), licensing model (RM and RF), and geography (APAC, Europe, MEA, North America, and South America).
North America led the stock image market share in 2019, followed by Europe, APAC, MEA, and South America. The growth of the stock footage market in the region can be attributed to the introduction of innovative service delivery methods and an evolving business model that includes the offering of customized stock footage. Moreover, companies operating in North America view visual content as an essential part of effective marketing and promotion activities which will further drive the market during the forecast period.
Technavio’s sample reports are free and contain several sections of the report, such as market size and forecast, drivers, challenges, trends, etc. Request a free sample report
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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