Photofinishing in the US - Industry Market Research Report

Photofinishing in the US - Industry Market Research Report

Photofinishing in the US

Photofinishing service providers have struggled to remain relevant as consumers adapt to the digital age. Photography has become almost exclusively digital, eliminating the need for traditional capital-intensive film development, while the widespread accessibility of a smartphone camera has made professional photography available even to the budding novice. Growing usage of online photo sharing platforms has satisfied the need for physical photo prints. While suppressed disposable income limits industry growth, heightened competition from online retailers and phone applications has depressed demand for industry services. Thus, industry revenue has been declining at a CAGR of 5.8% over the past five years, reaching an estimated $1.7 billion in 2023.

The Photofinishing industry primarily develops digital images to produce customized prints, albums and other merchandise such as playing cards or mugs. Traditional photofinishing involves film processing and printing. Companies may also transfer physical copies of photographs to digital files. The industry excludes companies that offer their services exclusively online or stores that offer printing services in addition to their primary means of earning revenue.

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