Global Commercial Photography Market to Reach US$10.7 Billion by 2015, According to New Report by Global Industry Analysts, Inc.

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Image by Bree Bailey

San Jose, CA (Vocus) July 7, 2010

Commercial photography is a fragmented and promotion-driven industry focused on innovation and technology. Commercial photography is indispensable in almost every businesses marketing and ad campaign be it high-rise buildings, realtors, schools, golf courses, hotels and restaurants, wineries, public events, government organizations, conservation work or even website photography. The multi-billion commercial photography industry dramatically differs across the globe with shift to digital photography throwing up a rich mixture of challenges and opportunities to market participants. While many perceive photography as a leisure pursuit, an increasing number of individuals and corporations see commercial photography as a requisite tool for effective business development and social networking. Only in an over-developed market economy like the US, could marketers continue to develop new applications for a staple like commercial photography in the form of glamour photography or aerial photography. In developing nations, commercial photography is still considered a nascent industry with lucrative potential for future growth, given the levels of economic growth and tourism development.

The present economic slowdown has resulted in shrinking discretionary spends softening tourism photography and corporate money spent on ad campaigns. Revenues derived from traditional photography such as family and individual photography are faltering with decrease in number of sittings. Together with the recent drop in advertising revenues, industry pandits have become cynical about the future prospects of print publishing.

Once market conditions start showing some recovery, ad spending will be disproportionately skewed towards web, mobile, and product placement. Also, a sizeable proportion of ad campaign costs, which were mostly pocketed by photographers, will be allocated to 3-D modelers, videographers, and graphic designers. However, during post-recession period, increasing need for niche products, and in some places the old-fashioned print publications will still remain popular. Advertisers will continue to engage in print publications, and other advertising mediums including bus shelters, billboards, brochures, and other promotional material that only commercial photography can cater, but will accept only cheaper versions, and low-cost microstock. In spite of continued growth, the opportunities for print based commercial photography in upcoming years will be restricted by smaller customer base.

Key players in this marketplace include CMI Photography, Corbis Corporation, CPI Corporation, PictureMe Portrait Studio, Sears Portrait Studio, Getty Images Inc, Lifetouch Inc, Olan Mills Inc, The Picture People, and Portrait Innovations Corporate Office, among others.

The report titled Commercial Photography: A Global Strategic Business Report announced by Global Industry Analysts, Inc., provides a review of noteworthy market trends, growth drivers and challenges. The report in addition also enumerates recent acquisitions, and other strategic industry activities. The single segment report offers latent demand estimates and projections for world Commercial photography market in revenues across geographic markets, such as, US, Japan, Europe, Asia-Pacific, and Rest of World.

For more details about this comprehensive market research report, please visit

http://www.strategyr.com/Commercial_Photography_Market_Report.asp

About Global Industry Analysts, Inc.

Global Industry Analysts, Inc., (GIA) is a reputed publisher of off-the-shelf market research. Founded in 1987, the company is globally recognized as one of the worlds largest market research publishers. The company employs over 800 people worldwide and publishes more than 1100 full-scale research reports each year. Additionally, the company also offers thousands of smaller research products including company reports, market trend reports, and industry reports encompassing all major industries worldwide.

Global Industry Analysts, Inc.

Telephone 408-528-9966

Fax 408-528-9977

Web Site http://www.StrategyR.com/

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