Out of the picture: Competition from amateur photographers has caused industry exits

The widespread adoption of digital camera technology by consumers and amateur photographers has weakened demand for the Professional Photographic Services industry. This trend has contributed to subdued spending on industry services over most of the past five-year period. Manufacturers have added user-friendly features to digital SLR cameras and marketed them to hobby photographers, and the number of photography short courses and online tutorials has grown substantially. High-resolution cameras are also included as features in many forms of consumer electronics, such as smartphones and tablets. These factors have constrained revenue, which is expected to grow at a modest 1.2% annualised over the five years through 2017-18, to $1.0 billion. This includes an anticipated decline of 0.4%...read more.

Industry Statistics & Market Size
Revenue
$1bn
Annual Growth 13-18
1.2%
Forecast Growth 18-23
Profit
Employment
9,886
Businesses
5,643
Market Share of Companies
There are no companies with a dominant market share in this industry

Industry Threats & Opportunities

  • Increasing amateur photography activity has negatively affected the industry
  • Many advertising agencies have reduced spending on professional photographic services
  • Professional photographers will be subject to increased price-based competition
  • Industry Report - Industry Investment Chapter

    The Professional Photographic Services industry exhibits a low level of capital intensity. The average photography business spends $16.81 on labour for every dollar spent on capital items. Operators need to invest significantly in capital equipment such as high-value cameras, lenses, computers and lighting equipment. However, wages account for the largest portion of revenue, due to the industry's labour intensity.Labour intensity is driven by the requirement to actually provide photographers to perform tasks, such as taking, editing and selecting photographs for a wedding album, for example. The...purchase to read more.

    Additional Insights for the Professional Photographic Services Industry

    IBISWorld has determined the most important Key Success Factors for the Professional Photographic Services are:

  • Production of goods currently favoured by the market
  • Access to niche markets
  • Proximity to key markets
  • IBISWorld analysts also discuss how external factors such as Demand from advertising agencies and Real household discretionary income in the Professional Photographic Services industry impact industry performance..

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    What's in this report

    What is the Professional Photographic Services Industry?

    Industry operators primarily provide still, video or computer photographic services, including portrait, professional, street, studio and special events photography. The industry includes the videotaping of special events such as weddings. However, motion picture filming and video production are excluded.

    Industry Products
  • Wedding photography
  • Advertising and fashion photography
  • School and graduation photography
  • Portrait photography
  • Other commercial and industrial photography
  • Other photographic services
  • Industry Activities
  • Portrait photography service
  • Professional photography service
  • Studio photography service
  • Street photography service
  • Wedding photography service
  • Video filming of special events for household use
  • Table of Contents

    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources
    Industry Statistics Snapshot
    Industry Structure
    Executive Summary
    Executive Summary
    Key External Drivers
  • Demand from advertising agencies
  • Real household discretionary income
  • Number of marriages
  • IT and telecommunications adoption
  • Population aged between 5 and 18

  • Current Performance
  • Demand conditions
  • The digital age
  • Amateurs enter

    the picture

  • Chart: Revenue Growth

  • Industry Outlook
  • Consumer demand
  • Amateurs alter

    the landscape

  • Ongoing technological development
  • Table: Professional Photographic Services Industry Revenue Outlook

  • Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Professional Photographic Services Industry Lifecycle vs The Economy

  • Supply Chains
    Key Buying Industries
  • Advertising Services
  • Specialised Design Services
  • Consumers

  • Key Selling Industries
  • Photographic and Optical Goods Manufacturing
  • Photographic Film Processing

  • Products & Services
  • Wedding photography
  • Advertising and fashion photography
  • School and graduation photography
  • Other commercial and industrial photography
  • Portrait photography
  • Other photographic services
  • Chart: Professional Photographic Services Industry Products and Services Segmentation

  • Demand Determinants
  • Weddings
  • Commercial photography
  • Technology

  • Major Markets
  • Consumers
  • Private sector
  • Public sector
  • Chart: Major Market Segmentation for the Professional Photographic Services Industry

  • International Trade
    Business Locations
    Chart: Business Locations by State
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
  • Profit
  • Wages
  • Purchases
  • Rent and utilities
  • Depreciation
  • Other
  • Chart: Cost Structure Benchmarking – Sector vs Professional Photographic Services

  • Basis of Competition
  • Internal competition
  • External competition

  • Barriers to Entry
  • Table: Barrier to Entry Checklist for the Professional Photographic Services Industry

  • Industry Globalization
    There are no major players in this industry. This report includes analysis of other companies.
    Capital Intensity
  • Chart: Level of Capital Intensity for the Professional Photographic Services Industry
  • Chart: Tools of the Trade: Growth Strategies for Success

  • Technology & Systems
    Revenue Volatility
  • Chart: Volatility vs Industry Growth

  • Regulation & Policy
    Industry Assistance
    Table: Industry Data for the Professional Photographic Services Industry
    Includes:
  • Industry Revenue (2009-2023)
  • Industry Gross Product (2009-2023)
  • Establishments (2009-2023)
  • Businesses (2009-2023)
  • Employment (2009-2023)
  • Wages (2009-2023)

  • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
    Digital Slr Camera
  • A digital single-lens reflex camera uses a mirror to reflect a portion of light from the single lens to the viewfinder.
  • Lcd
  • Liquid crystal display involves the application of an electric current to a liquid crystal layer to make it opaque.
  • Portraiture
  • The act of producing an artistic representation of a person.
  • What Our Customers Say

    Why buy this report?

    IBISWorld’s Professional Photographic Services market research report is a comprehensive guide to market size and growth prospects. Our industry reports offer strategic industry analysis of the factors influencing companies, including new product developments, economic, lifestyle and demographic influences, distribution and supply chain factors and pricing issues. Full analysis accompanies our data forecasts to illustrate how the market responds to emerging industry trends.

    IBISWorld industry market research reports enable you to:
    • Find out about key industry trends
    • Identify threats and opportunities
    • Inform your decisions for marketing, strategy and planning
    • Quickly build competitive intelligence
    This report on Professional Photographic Services:
    • Provides Market Size information to assist with planning and strategic decisions.
    • Includes the necessary information to perform SWOT, PEST and STEER analysis.
    • Helps you understand market dynamics to give you a deeper understanding of industry competition and the supply chain.
    • Analyses key performance and operational metrics so that you can benchmark against your own business, that of your customers’ businesses, or your competitors’ businesses.
    The Professional Photographic Services market research report includes:
    • Historical data and analysis for the key drivers of this industry
    • A five-year forecast of the market and noted trends
    • Detailed research and segmentation for the main products and markets
    • An assessment of the competitive landscape and market shares for major companies
    • And of course, much more

    IBISWorld reports on thousands of industries around the world. Our clients rely on our information and data to stay up-to-date on industry trends across all industries. With this IBISWorld Industry Research Report on Professional Photographic Services, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

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