Global Stock Images and Videos Market Report 2019-2024: Blockchain Technology Making Inroads & AI and ML in Stock Content
DUBLIN, Sept. 24, 2019 /PRNewswire/ -- The "Stock Images and Videos Market - Global Outlook and Forecast 2019-2024" report has been added to ResearchAndMarkets.com's offering.
The global stock images and videos market is expected to grow at a CAGR of over 5% during the period 2018-2024.
As traditional advertising revenues that mandate the use of images are phasing out, digital storytelling tools such as videos, photography, drones, and interactive graphics are creating engaging communication. The magnetism toward emotive, experiential, and immersive content that offers consumers new experiences is the main driver for this new form of communication. This trend is driving the growth of global stock images and videos market.
The era of instant gratification has compelled brands and businesses to use bite-sized and short-form content. Made-for-social programming and video streaming have become popular due to the thrill of novelty they offer. This is opening new avenues for marketers to advertise. Therefore, for this form of content, stock visuals account for a big part. Moreover, as these platforms are rolling out tons of video content, graphics, and images, they are expected to drive the demand in the global stock images and videos market.
Artificial Intelligence (AI) acts as a smart system for stock agencies to effectively monitor and accurately segregate, review images, recognize the content's value, and offer the right content to align with the consumer's requirement. AI tools can generate tags based on image recognition, allowing users to efficiently source keywords that validate the image. It offers intelligent keywording features that improve accuracy and save time. This helps increase satisfaction and proves beneficial to the growth of the stock images and videos market.
Stock Images and Videos Market: Segmentation
This research report includes detailed market segmentation by product, application, license, source, end-user, and geography. With the growth of online purchases, strong visuals are becoming a prerequisite for the e-commerce industry. Nearly 80% of marketers are under pressure to demonstrate the effectiveness of visual content through ROIs.
Thus, several e-commerce players depend on white background studio shots images, thereby increasing the requirement of adding context without heavy expenditure. Another instance, which has increased volume growth of stock images is the frequent use of a data-driven approach to better streamline efficiency. This has led to the use of images from a wider database.
Brands are increasingly investing in short films or extended videos. They also seek videos for extra production value in a bid to captivate fickle online viewers. This has increased the demand for snackable content. The hybrid photography format is merging into stock video and is expected to become hugely popular during the forecast period. Businesses are investing in this market due to the growing demand for humanized, emotion-rich, substantial video content, making it easy for them to engage their customers on social media platforms.
While stock content agencies offer content to their consumers, licensing these images to protect the ownership rights becomes imperative. Driven by the growth of the microstock industry, RF license models have become widely popular. With a lot of SMEs finding this model more appealing and economical and with the arrival of a host of new businesses on the scene, the demand has blown up. While it seems like the days of Rights Managed(RM) images are over, stable economic growth will drive spends on quality imagery, intensified by the need to prevent brand dilution. Major companies and brands that usually conduct business and marketing on a global scale are the go-to with these licenses.
The commercial stock images market is witnessing disruptions. However, a few industry stakeholders realize how rapid the transformation needs to be to accommodate the change. Digitization is changing everything and driving conversations on mediums and platforms and creating an entirely new category for imagery. The editorial section has tremendous potential as off-site news consumption has grown rapidly. At present, online news is largely driven by platforms, technology, and publishers, instead of consumer demand. The push toward maintaining editorial video libraries is high due to automated processes, which make producing content easy.
Brands seek to maintain exclusivity in a market where social influence is widespread. With the emergence of a greater number of aspirational brands, macrostock seems more appealing than ever. However, macrostock agencies have firmly grounded their revenues, accounting for the largest share in the stock images and videos market, their growth has slowed comparatively. Microstock is more popular among value-conscious countries, which mostly fall under the developing umbrella, such as India. Given the rapid growth in its initial years, the underestimated microstock market received a seal of trust from macrostock agencies that began creating or acquiring microstock divisions to even out their range of customers. The trend of broadening the microstock repertoire is also gaining pace.
Neuromarketing is gaining prominence, specifically among digital marketers that have traditionally used views, scroll depth, leads, subscriptions, and social shares to measure campaign performance. However, digital marketers are now focusing on emotional resonance. With smartphone consumption rising, the second screen concept is booming. This is due to frequent participation in online conversations and scrolling through social feeds while watching live events or TV programs.
Currently, a high share of television content is accessed via the internet. This allows for a higher addressable TV, where marketers can streamline and divide audiences based on their characteristics such as behavior, using technology. This is a major divergence from the way TV audiences are targeted. Furthermore, programmatic TV is also on the rise. The demand for interactive and immersive experiences is growing, with 42% of consumers wanting to watch movies in the 360-degree format and 29% wanting the same experience for television shows. The use of stock videos cinematographers to pre-visualize scenes from scripted content is a trend that is surfacing in the stock images and videos market.
Key Vendor Analysis
The global stock images and videos market is highly consolidated. Since Getty Images and Corbis imposed a consumer-facing business model (i.e., low price, high volume), the industry has not changed much. While there are several specialist agencies and mom- and- pop shops, the latter's growth seems hazy. Specialist agencies, however, can survive provided as they keep up with technology and demand developments. Major agencies, such as Getty Images, often represent smaller ones, benefitting from their exclusive content and giving them an opening. There are also several platforms that have also come up to cater to amateurs.
Getty Images, Visual China Group, Shutterstock, and Adobe Stock are the four major vendors that dominate the stock images and videos market. Several small and large vendors are altering the stock photography business by new approaches and business models. With a lot of vendors trying to cut costs due to shrinking revenues, offering any kind of service apart from the basic is limiting their growth. Several larger players have witnessed a decline in revenues over the last couple of years due to consolidation that devalued the stock images and videos market.
Market Dynamics
Market Growth Enablers
- Growth of Digital Communities in Hyper-Connected Ecosystem
- Authenticity Breathes New Life
- Reinvention of Storytelling
- Social Shows Sustain Buzz in Stock Content
- The Growth of Content Automation and Personalization
Market Growth Restraints
- Copyright Infringement and Breach of Licenses
- Glut of Images
- Unsustainable Business Models
- UGC Eating into the Market
- Audio Eclipsing Video
Market Opportunities & Trends
- Blockchain Technology Making Inroads
- AI and ML in Stock Content
- Powering up via Distribution Deals
- Growth of Platform Integrations
- Mobile Stock Losing its Sheen
- Rapid Shift to Vertical Formats
Key Company Profiles
- Getty Images
- Visual China Group
- Shutterstock
- Adobe
Other Prominent Vendors
- 123RF
- Alamy
- AP Images
- Art-list
- Can Stock Photo
- Coinaphoto
- Death to Stock
- DepositPhotos
- Dissolve
- Dreamstime
- Envato
- Fotosearch
- Masterfile
- Photofolio
- Pixta
- POND5
- Reuters Images
- Stocksy
- SuperStock
- imagesbazaar
- Videvo
- Pexels
- NHK Video Bank
- Motion Array
- Storyblocks
For more information about this report visit https://www.researchandmarkets.com/r/axerds
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