Technavio 2018 Global Still Images Market Report

Posted on 5/22/2018 by Jim Pickerell | Printable Version | Comments (1)

London based, Technavio has published its 2018 report on the global still images market. The report estimates that the market will grow at a CAGR (Compound Annual Growth Rate) of approximately 8% during the period 2018-2022.

The report is available at a discounted price of $2,500 and is said to “provide an analysis of the most important trends expected to impact the market outlook. In addition, it offers an up-to-date analysis of the market concerning the current market scenario, latest drivers, and the overall global environment.”

Last year Technavio forecast that the global still images market would generate USD 4.46 billion by 2021, at a CAGR of close to 8% over the forecast period. That would have made the 2016 gross revenue about $3.05 billion. It is not clear whether this figure includes the video aspect of the stock photo market, or just “still images.”

I have not read the full report, as the price is prohibitive for me, however their gross figure seems high and the rate of growth exceptionally high. I would put the rate of growth for the next 5 years at 2% to 3% CAGR, if there is any growth at all. I estimate the global revenue in 2017 for still images, illustration and video to have been about $2.5 to $2.6 billion.

Technavio says their report provides an analysis of various companies including: Shutterstock, Getty Images, Adobe, Dreamstime and Inmagine Group. It seems to me that they may have failed to take into account Shutterstock’s dramatic decline in growth in the last few years. In 2011 through 2013 Shutterstock was showing an annual growth rate of 40%. Since that time there has been a steady and dramatic decline, although they still are growing.

Meanwhile there is very little evidence that the others have been growing much at all. In addition, total downloads at Shutterstock in 2017 only grew about 2.5% compared to 2016 and that includes footage downloads as well as still images.

Another issue that I question is whether Technavio has taken into proper account the consolidation and the going-out-of-business of medium and small size companies that has been taking place in the last few of years. It looks like this trend will increase.

They say the Americas (North and South) account for 51% of the market while the rest is split between EMEA and APAC. Most other analysts have concluded that the percentage for the Americas is smaller and EMEA tends to be a slightly larger market than North America.

In their press release Technavio said, “A major factor driving the growth of the market is the rising adoption of new business models. Previously, the market players obtained images from different professional photographers and offered them at higher prices. Owing to the declining popularity of the print medium, the demand for still images has decreased over the years. This has encouraged current market players and new entrants to adopt new business models.

“Visual content aids in creating the perception of a product or brand. Millennials are more concerned with brands than the previous generations. Thus, meaningful stories in visual content are developed to attract their attention toward a brand or a product. This has increased the demand for realistic photographs that are better, genuine, and highly relevant to the viewers.

“Several vendors are emphasizing on sourcing user-generated content to match the way customers think about visual content. The vendors source still images from customers through various social media platforms such as Facebook, Instagram, and Twitter. They later obtain permission from the uploader for brand use. Thus, this helps in driving the value of stock photos and promotes market growth,” says a senior analyst at Technavio.

Among the key questions answered in the report are:
•    What are the key factors driving the global still images market?
•    What are the key market trends impacting the growth of the global still images market?
•    What are the challenges to market growth?
•    What are the market opportunities and threats faced by the vendors in the global still images market?
•    What are the trending factors influencing the market shares of the Americas, APAC, and EMEA?
•    What are the key outcomes of the five forces analysis of the global still images market?

Related stories on market size include:

Technavio – Global Stock Image Market Size in 2016

Technavio – Global Stock Image Market Size in 2015

Global Stock Image Revenue - 2013

ACSIL Stock Footage Survey – 2015

ACSIL – 2017 Footage Analysis

Microstock Market Size – 2015

Copyright © 2018 Jim Pickerell. The above article may not be copied, reproduced, excerpted or distributed in any manner without written permission from the author. All requests should be submitted to Selling Stock at 10319 Westlake Drive, Suite 162, Bethesda, MD 20817, phone 301-461-7627, e-mail: wvz@fpcubgbf.pbz

Jim Pickerell is founder of, an online newsletter that publishes daily. He is also available for personal telephone consultations on pricing and other matters related to stock photography. He occasionally acts as an expert witness on matters related to stock photography. For his current curriculum vitae go to:  


  • Bob Prior Posted May 26, 2018
    And spending £2.500 is going to fix the stock photography industry's problems is it? What magical answer will the report deliver? Or it is once again living in the problem and not the solution.

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