(MENAFN- GlobeNewsWire - Nasdaq) Dublin, Nov. 13, 2024 (GLOBE NEWSWIRE) -- The "Stock Images & Videos market - Global Outlook & Forecast 2024-2029" report has been added to ResearchAndMarkets.com's offering.
The Stock Images & Videos Market was valued at USD 5.28 Billion in 2023, and is expected to reach USD 7.94 Billion by 2029, rising at a CAGR of 7.04%.
The demand for stock images and videos market is poised for significant growth during the forecast period, driven by the rising demand for high-quality visual content across several industries, including advertising, media, publishing, and e-commerce. Further factors such as animation production, blockchain technology, artificial intelligence (AI), and machine learning (MI) in stock content substantially contribute to market growth. The presence of a mix of well-established brands, emerging players, and niche producers highly consolidates the competitive landscape of the global stock images and videos market. Thus, companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product or service launches, to enhance their presence in the market.
Major vendors that dominate the global stock images and videos market are Adobe Stock, Getty Images, and Shutterstock. Several vendors in this market have a global presence, creating strong brand images for their products.
FUTURE MARKET TRENDS
Increasing Penetration of AI & MI in Stock Content
With the rising demand for high-quality images and videos, the development of AI and MI technologies has witnessed significant growth. These technologies can easily analyze and recognize stock content, which improves the search and discovery of relevant stock visuals based on specific themes, objects, or concepts. Further, a few significant players in the stock images and videos market had also launched or implemented proprietary AI systems, such as Dreamstime, to screen images shared by creators and altered their specifications to fit how the human editor classified images. Additionally, in 2023, Shutterstock expanded its partnership with OpenAI through a new six-year agreement to provide high-quality training data for OpenAI models, propelling transformative capabilities for brands, digital media, and marketing companies.
Rapid Shift to Vertical Formats
In the world of digital content creation, there's a seismic shift happening with the rise of vertical formats in recent years. Vertical format offers several benefits for businesses looking to improve their content marketing strategies. One of the most significant advantages is that it provides a better user experience on mobile devices, where most people consume video content. As a result, customers are increasingly expected to borrow from pre-existing images and videos from the vertical aesthetic. Getty Images, Dreamstime, Adobe Stock, Shutterstock, Alamy, and more are expanding the base of vertically styled photo and video offerings to leverage the demand in the stock images and video market. For instance, in 2021, Canva integration with Instagram stories allows users to create customized stories using Canva's design tools and directly publish them into Instagram.
SEGMENTATION INSIGHTS
INSIGHTS BY PRICING MODEL
The subscription pricing model segment dominated the global stock images and videos market share in 2023. This model is popular among frequent users such as large enterprises, media companies, and agencies that require a high volume of images. Customers pay a recurring fee for access to a certain number of monthly downloads or a set period. Additionally, it is a cost-effective solution for users who need daily content as subscribers pay a predictable fee, making budgeting easier than per-image licensing. For frequent users requiring multiple images, subscriptions are more economical than purchasing individual licenses.
INSIGHTS BY APPLICATION
The global stock images and videos market by application is segmented into commercial and editorial. The two applications typically differentiate how the content is permitted to be used. In 2023, the commercial sector will hold a significant share of the global stock images and videos market owing to the rising number of filmmakers, photographers, and drone operators. Stock images and videos are also extensively used in digital marketing campaigns across websites, social media platforms, email marketing, display ads, and digital banners. They help businesses attract attention, convey messages effectively, and enhance visual appeal to drive engagement and conversions. However, the editorial segment is anticipated to have an absolute growth rate of 56% because of the rising application of illustrated editorial content, such as news coverage, essays, and documentaries. Additionally, technological advances in digital photography and video production have improved the quality and variety of available editorial stock media, further stimulating market growth.
INSIGHTS BY END USERS
The global stock images and videos market by end users is segmented into marketers, film & tv producers, media & publishing companies, and business & individual creators. The marketers segment holds the most prominent global market share in 2023. Marketers drive demand by seeking high-quality visual content that aligns with their needs and campaigns. Marketers often require diverse and compelling imagery to effectively communicate brand messages, enhance advertising efforts, and engage their target audiences across various platforms.
Further, the growing demand for improving movie experience is expected to boost the market for stock images and videos from films and TV producers, growing at a CAGR of over 7% during the forecast period. Film and TV producers use stock images in various stages of production to enhance efficiency, reduce costs, and maintain high-quality visual standards. They use stock images to create detailed storyboards and previsualizations.
GEOGRAPHICAL ANALYSIS
North America dominated the global stock images and videos market, accounting for a share of over 40% in 2023. The presence of solid media and advertising companies in the U.S. and Canada has led to regional market growth. The region is also a major hub for advertising, particularly in Internet advertising, which commands the largest share of ad spend. Internet advertising is the fastest-growing medium in North America, while traditional newspapers are experiencing declining ad revenues.
Over the past few years, North American advertising has surged significantly, driven largely by cyclical events such as the Olympics and elections. Technological advancements have profoundly impacted the industry, prompting magazines and newspapers to adopt new strategies to adapt to the shift of advertising budgets towards platforms like Facebook and Google, which facilitate ad placements on websites and YouTube videos.
Furthermore, Europe's stock images and videos industry is driven by the rising expansion of small businesses (SMEs). For instance, in 2022, as per Eurostats, the value added of EU-27 SMEs increased by 6.7% in the non-financial business sector (NFBS). As a result, these businesses focus on branding and customization, which is anticipated to fuel market growth in the coming years.
VENDORS LANDSCAPE
Key Company Profiles
Adobe Stock Getty Images Shutterstock
Other Prominent Vendors
Agence France Presse (AFP) Alamy (PA Media Grop) AP Images Artlist Canva Coinaphoto Creative Market (Dribbble) Death To Stock Ltd Depositphotos (VistaPrint) Dissolve DreamstimeLtd East News Envato Elements Pty Ltd (Shutterstock) Freepik Inmagine Group ImagesBazaar (Mash Audio Visuals) Masterfile Newscom NHK Video Bank PantherMedia Photofolio Picfair PIXTA Redux Pictures STOCKLIB Storyblocks (Great Hill Partners) The Mega Agency Reuters Pictures (Thomson Reuters) WENN Westend61 ZUMA Press MorgueFile Stockvault picjumbo Rawpixel MotionElements PhotoShelter Nature Picture Library plainpicture Science Photo Library Limited Mambo Motion Studio The Noun Project (Toptal) Vecteezy Anadolu Images PIXERF Brust by Shopify Reshot (Zyro)
Key Attributes:
CONTACT: CONTACT:
Laura Wood,Senior Press Manager
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