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Photography in the US - Industry Market Research Report

Photography in the US - Industry Market Research Report

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Photography in the US - Industry Market Research Report
Photography in the US

The Photography industry, which includes portrait, commercial and still photography services, has fallen over the five years to 2023 amid contentious economic conditions and competition from smartphone cameras. The industry has responded to shifting consumers preferences by increasing the number of nonemployer professionals who can offer industry services at a lower rate than large, established companies. Growth in per capita disposable income and total advertising expenditure have partially offset declines for the Photography industry. However, the COVID-19 pandemic precipitated a decline in revenue in 2020. Consequently, industry has not been able to achieve pre-pandemic levels of revenue. Revenue is anticipated to fall an annualized 1.3% to $12.9 billion over the five years to 2023, including a 0.3% decrease in 2023 alone.

The Photography industry encompasses companies and individuals that offer a range of photographic services, including still photography and videography for private events. Commercial and portrait photography studios are also included in this industry. This industry excludes all photography related to movie, TV and video production; refer to IBISWorld reports 51211a and 51211b for more information.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.

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