Market Size of Asia Pacific Photography Service Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 12.21 Billion |
| Market Size (2029) | USD 18.05 Billion |
| CAGR (2024 - 2029) | 8.13 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Market Overview
The Asia Pacific Photography Service Market size is estimated at USD 12.21 billion in 2024, and is expected to reach USD 18.05 billion by 2029, growing at a CAGR of 8.13% during the forecast period (2024-2029).
With the recent boom in avenues such as advertising, media, and the fashion industry, photography surfaced as a lucrative and stimulating career option for many youngsters. Photography was classified as a hobby profession only, but now it grew in an unprecedented manner. These days, photography is quickly rising as a popular career choice among various age groups. It is a creative means of expression, with a camera replacing the purpose of a pen or a paintbrush.
The growth of the creator economy and the success of short video platforms during the pandemic gave a leg up to the digital photography industry that was under strain from smartphone cameras. Camera brands saw an almost doubling demand and sales of entry-level mirrorless cameras. We live in a world of instant photography, where devices like smartphones can freeze multiple cherishable moments at the click of a button. Now, tens of hundreds of digital images and videos can be captured, saved, processed, and printed within minutes.
The images captured with digital cameras could also be easily uploaded and shared across the internet. It is a feature that many businesses worldwide capitalized on. Though digital photography makes capturing and sharing images easier, it also led to the downfall of physical photographs. Photo prints and negatives were all but forgotten in favour of a more digital format.
The covid-19 pandemic severely affected the globe and almost brought all industries functioning in society to a standstill. The lockdown imposed due to the Covid outbreak had a large-scale impact on the photography industry with the cancellation of events, studio shutdowns, no work for freelancers, and delivery issues. Photographers faced much backlash on their business due to the lockdown and suffered financially as they had no work then. It also impacted the whole photography industry, including all the freelancers.
