Due to the rising demand for high-quality photos, the worldwide stock photography market is anticipated to have considerable growth during the projected period (2021-2028). During the forecast period, factors including the development of animated content, blockchain technology, AI (Artificial Intelligence), and ML (Machine Learning) in stock content are projected to support the growth of the stock photography market. Growing use of smart devices like smartphones and tablets and increasing internet usage have increased people's exposure to social and digital media platforms. Furthermore, as digital media platforms become more widely used for advertising, marketing, and customer acquisition, the use of stock photographs on social media platforms has been rising. It helps marketing companies to use visuals in their advertising of goods and services to increase client views and replies. As a result, photographs are now more visible and stock photography companies have better growth chances. One of the most important venues for marketing, advertising, and client acquisition is social media. This has further prompted different marketing firms to use these platforms for the promotion of any goods or services.
According to Coherent Market Insights, The market for Stock Photography worldwide has a value of US$ 3.3 billion in 2020 and is projected to grow at a CAGR of 5.2% from 2021 to 2028 to reach US$ 4.8 billion.
Prominent Companiesin the Stock Photography Industry:
1. Adobe Stock,
The company was started in 1982 and is based in San Jose, California, United States. It has developed software specifically for the development and distribution of a variety of content. Adobe declared in September 2022 that it has reached an agreement to pay $20 billion for the software design startup Figma. On August 19, 2021, Adobe declared it has finalised a deal to buy Frame.io, a prominent cloud-based video collaboration tool.
2. Getty Images
The business was founded in 1995 and is based in Seattle, Washington, United States. The company Getty Images, Inc. offers digital and visual media material. Unsplash, a website with free access to stock photos, was purchased by Getty Images in March 2021 for an undisclosed fee. Getty Images made the decision to combine with CC Neuberger Principal Holdings II in December 2021, announcing its intention to reenter the public markets.
3. Shutterstock
The firm was founded in 2003 and is located in New York, United States. Stock music, film, stills, and editing software are all available at Shutterstock. A network of entertainment news for newsrooms and media firms, Splash News, was purchased by the corporation in May 2022. The business stated that it would switch from a minimum flat-rate to a percentage-based contributor earnings structure as of June 1 in May 2020.
4. Agefotostock
The company was started in 1973 and is based in Barcelona, Spain. The stock photography company Agefotostock encourages and promotes the growth of creativity. The business oversees licencing agreements for the use of photographic pictures and video clips in the corporate, journalistic, advertising, and design sectors.
5. Pixta
The business was founded in 2005 and is based in Japan. Digital photography, graphics, and movie-related goods are bought and sold online by PIXTA Inc. The business runs the online marketplace for digital image resources known as PIXTA. One of the biggest stock picture marketplaces, Pixtastock caters to both amateur and professional photographers.
6. Nippon News
The company was started in 1966 and is located in Tokyo, Japan. The network is in charge of distributing national television newscasts to its local affiliates and coordinating news between the stations. In addition, NNN runs NTV News24, a 24-hour news station that is accessible via pay television services and is broadcast on a few NNN affiliates overnights.
7. ZUMA Press
The company was founded in 1995 and is based in San Clemente, California, United States. Zuma Press, Inc. offers paid services. The business provides consultancy services in addition to providing national wire services, magazines, newspapers, and image agencies for news, sports, and entertainment.
*Definition: The supply of images that are frequently granted a licence for a particular purpose is known as stock photography. Stock photos are images that have a commercial use licence.
