Market Snapshot
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 12.21 Billion |
| Market Size (2029) | USD 18.05 Billion |
| CAGR (2024 - 2029) | 8.13 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Market Overview
The Asia Pacific Photography Service Market size is estimated at USD 12.21 billion in 2024, and is expected to reach USD 18.05 billion by 2029, growing at a CAGR of 8.13% during the forecast period (2024-2029).
With the recent boom in avenues such as advertising, media, and the fashion industry, photography surfaced as a lucrative and stimulating career option for many youngsters. Photography was classified as a hobby profession only, but now it grew in an unprecedented manner. These days, photography is quickly rising as a popular career choice among various age groups. It is a creative means of expression, with a camera replacing the purpose of a pen or a paintbrush.
The growth of the creator economy and the success of short video platforms during the pandemic gave a leg up to the digital photography industry that was under strain from smartphone cameras. Camera brands saw an almost doubling demand and sales of entry-level mirrorless cameras. We live in a world of instant photography, where devices like smartphones can freeze multiple cherishable moments at the click of a button. Now, tens of hundreds of digital images and videos can be captured, saved, processed, and printed within minutes.
The images captured with digital cameras could also be easily uploaded and shared across the internet. It is a feature that many businesses worldwide capitalized on. Though digital photography makes capturing and sharing images easier, it also led to the downfall of physical photographs. Photo prints and negatives were all but forgotten in favour of a more digital format.
The covid-19 pandemic severely affected the globe and almost brought all industries functioning in society to a standstill. The lockdown imposed due to the Covid outbreak had a large-scale impact on the photography industry with the cancellation of events, studio shutdowns, no work for freelancers, and delivery issues. Photographers faced much backlash on their business due to the lockdown and suffered financially as they had no work then. It also impacted the whole photography industry, including all the freelancers.
Key Market Trends
Impact of Social Media Users in Asia Pacific
The world relies on Social Media now more than ever. There are so many opportunities for photographers to broadcast their work. The visual realm of the online world is ideal for showcasing images and having complete control over publishing images. Chinese citizens displayed a strong online presence, with approximately 983.3 million active social media users in 2022. Other Asia-Pacific countries and regions appeared behind China regarding their social media activity. India and Indonesia are the second and third-ranking countries for social media. Facebook reigns worldwide and in Asia-Pacific as the most-used social media site, displaying increased daily active users.
Interestingly, almost half of the most popular social media platforms globally were Asian social networks. The impact of social media is huge due to sharing photos online and making videos for creating content on youtube. It also includes a major impact on the photography service industry.
China is Leading Revenue generating in Digital Camera Market
The Digital Cameras Market includes digital photo cameras. Excluded are special cameras for professional and semi-professional use (e.g., underwater and aerial cameras and drones). Some of the biggest brands in this segment are Canon, Nikon, Pentax, Olympus, and Sony. The Consumer Electronics market only includes retail sales. The Chinese digital camera market generated top revenue, making it the strongest market in the Asian-Pacific region. India and Japan generated the second and third-highest revenue in the region. Hong Kong, Singapore, and New Zealand created the smallest revenue in the region. Digital Cameras support sales of high-end products, including DSLR cameras. Besides, such gadgets are further rising due to improving internet infrastructure in Asian countries. Youth hold a significant share of the total population in APAC, which can be directly proportional to the adoption of technologically advanced and innovative devices.
Competitive Landscape
Asia Pacific Photography Service Market is highly competitive and fragmented as various international and regional vendors are providing new technology to various end-use industries to expand the market. The key players are emerging to improve their products and delivery through manufacturing techniques and enhancing their products to include a competitive edge over others. Also, the companies are involved in acquisitions and expansion to improve their product offerings and increase the production process. They undergo partnerships and collaborations with leading automotive manufacturers to address the demand and strengthen their presence across the Asia Pacific. The photography service across the Asia Pacific is offered by groups such as Educreate Films, Filmapia India, Vortic Designs, RedFern Digital, and Orange Studios.
Major Players
-
Educreate Films
-
Filmapia India
-
Vortic Designs
-
RedFern Digital
-
Orange Studios
*Disclaimer: Major Players sorted in no particular order
Recent Developments
- January 2023: Orange and the Canal+ Group had a memorandum of understanding for the acquisition of OCS pay TV unit and Orange Studio. The Canal+ Group will become the sole shareholder of the two companies after the transaction.
- December 2022: China Daily and Asia News Network co-organized a photography exhibition titled “Changing Asia – New Normal” in Hong Kong. It was held in Bangkok, coinciding with Bangkok's successful hosting of a key meeting of Asia-Pacific Economic Cooperation economies.
Asia Pacific Photography Service Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS AND INSIGHTS
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Insights on Impact of Technology in the Market
4.5 Industry Attractiveness - Porter's Five Forces Analysis
4.5.1 Bargaining Power of Suppliers
4.5.2 Bargaining Power of Buyers
4.5.3 Threat of New Entrants
4.5.4 Threat of Substitutes
4.5.5 Intensity of Competitive Rivalry
4.6 Impact of COVID-19 on the Market
5. MARKET SEGMENTATION
5.1 By Type Outlook
5.1.1 Shooting Service
5.1.2 After Sales Service
5.2 By Application
5.2.1 Consumer
5.2.2 Commercial
5.3 By Country
5.3.1 China
5.3.2 India
5.3.3 Japan
5.3.4 South Korea
5.3.5 Rest of Asia-Pacific
6. COMPETITIVE LANDSCAPE
6.1 Market Concetration Overview
6.2 Company Profiles
6.2.1 Educreate Films
6.2.2 Filmapia India
6.2.3 Vortic Designs
6.2.4 RedFern Digital
6.2.5 Orange Studios
6.2.6 First Light Films
6.2.7 Rimagine Graphic Design (Shanghai) Co., Ltd
6.2.8 Royal Creative Team
6.2.9 Ricoh Co Ltd
6.2.10 Panasonic Holdings Corp*
- *List Not Exhaustive
7. MARKET OPPORTUNTIES AND FUTURE TRENDS
8. DISCLAIMER AND ABOUT US
Scope of the Report
Photography service means an establishment engaged primarily in selling film and photographic equipment and limited film processing and developing, which may include developing and processing film, printing digital photographs, or repairing photographic equipment. The report covers a complete background analysis of the Asia Pacific Photography Service Market. It includes an assessment of the market overview, market size estimation for key segments, emerging trends in the market, market dynamics, and key company profiles. Asia Pacific Photography Service Market is segmented by type outlook (shooting service and after-sales service), application (consumer and commercial), and country (China, India, Japan, South Korea, and the rest of Asia-Pacific). The report offers market size and forecasts for the Asia Pacific Photography Service Market in value (USD) for all the above segments.
Asia Pacific Photography Service Market Research Faqs
How big is the Asia Pacific Photography Service Market?
The Asia Pacific Photography Service Market size is expected to reach USD 12.21 billion in 2024 and grow at a CAGR of 8.13% to reach USD 18.05 billion by 2029.
What is the current Asia Pacific Photography Service Market size?
In 2024, the Asia Pacific Photography Service Market size is expected to reach USD 12.21 billion.
Who are the key players in Asia Pacific Photography Service Market?
Educreate Films , Filmapia India , Vortic Designs, RedFern Digital and Orange Studios are the major companies operating in the Asia Pacific Photography Service Market.
What years does this Asia Pacific Photography Service Market cover, and what was the market size in 2023?
In 2023, the Asia Pacific Photography Service Market size was estimated at USD 11.29 billion. The report covers the Asia Pacific Photography Service Market historical market size for years: 2020, 2021, 2022 and 2023. The report also forecasts the Asia Pacific Photography Service Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Asia Pacific Photography Service Industry Report
Statistics for the 2024 Asia Pacific Photography Service market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Asia Pacific Photography Service analysis includes a market forecast outlook to for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
