Mobile application segment is anticipated to expand at a higher CAGR during the period of assessment
By mode of printing, the mobile application segment is expected to register high Y-o-Y growth rates throughout the forecast period. In terms of value, this segment is expected to expand at a CAGR of 4.9% over the forecast period. Various photo printer manufacturers are targeting the market with smartphones connected to printers and this factor is driving the growth of this segment. Mobile application segment is projected to reach more than US$ 2,000 Mn by the end of 2017 and is expected to be valued in excess of US$ 3,000 Mn by 2026 end. The mobile application segment is estimated to gain close to 16% in its market share of the global photo printing and merchandise market by the end of 2026.
Increasing use of smartphones for image capturing and photo sharing expected to drive the development of the mobile application segment during the forecast period
Adoption of smartphones across countries such as China, India, Indonesia and Brazil is increasing, which is leading to increasing internet penetration and popularity of social networking. Mobile phone manufacturers are offering smartphones with high-resolution cameras to meet the requirements of modern photography. These image capturing devices primarily serve spontaneous snapshots, thus supporting the growth of the mobile application segment. Furthermore, growing trend of mobile shopping, e-banking and bring your own device (BYOD) is accelerating market demand for smartphones across the globe, which, in turn, is fuelling the growth of the mobile application segment in the global photo printing and merchandise market. Further, an increasing number of smartphones and improved broadband and wireless connectivity is expected to boost the growth of online photo sharing across various platforms, which in turn is anticipated to drive the growth of the mobile application segment in the global photo printing and merchandise market during the forecast period.
Improvements and advancements in broadband infrastructure worldwide, in turn, leads to significantly improved broadband speed. Moreover, increasing internet penetration and affordability of these services is expected to increase consumption of media content via various devices. This, in turn, is estimated to support the growth of the mobile application segment in the global photo printing and merchandise market over the projected period. e-Commerce companies are focussing on offering online photo printing services. For instance, in 2016, Amazon.com Inc., announced plans to introduce ‘Amazon Prints’, an online photo printing service that enables customers to print digital photos and order photo books and stationery products, in order to enhance its product portfolio and customer base. The growth of such services is creating a robust development in the mobile application segment.
Regional overview of the mobile application segment
In terms of value, the mobile application segment is expected to reach more than US$ 600 Mn by the end of 2017 in North America. The segment is likely to reach close to US$ 140 Mn in 2026, expanding at a CAGR of 6.9% in Latin America. The mobile application segment in the APEJ photo printing and merchandise market is projected to cross US$ 550 Mn by the end of 2017, recording an attractive CAGR of 5.6% over the forecasted period.
Eastman Kodak company launches photography smartphone in partnership with U.K based Bullitt Group
U.S. based Eastman Kodak Company along with U.K. based Bullitt Group has launched a photography enabled smartphone designed to fulfil the users’ passion for photography. Through this new smartphone, photographers can capture exceptional images of high quality irrespective of the environment. This smartphone has a 21-megapixel camera sensor with a custom built camera app. The range of settings includes portrait, HDR landscape, Bokeh, Panorama, sports and night-time along with a smart auto mode.
MRRSE offers custom market research services that help clients to get information on their business scenario required where syndicated solutions are not enough.Get A Free Custom Research Quote