Finally some positive reports about the future of the photo industry

Fiormarkets thinks that the underwater camera market will grow from $4.8 billion in 2019 to $15.30 billion by 2027:

“The underwater camera market is expected to grow from USD 4.8 billion in 2019 to USD 15.30 billion by 2027, at a CAGR of 15.6% during the forecast period 2020-2027.

The factors driving the market are the growing demand for underwater cameras for personal use, the implementation of underwater cameras in media & entertainment applications, the emergence of camera rental services, the high demand for underwater sports, and the rising trend of underwater photography on social media feeds. The factor restraining market growth is the high cost of the camera.” (Fiormarkets)

According to a new study from Rise Above Research, 63% of respondents in the 18-24-year-old age group had bought photo products in the last year;

“According to a new study from Rise Above Research, 63% of respondents in the 18-24-year-old age group had bought photo products in the last year and almost half of them ordered photo cards for the first time. This demonstrates that the US photo merchandise market is healthy and resilient, even during the COVID-19 pandemic. In these challenging times, young adults are turning to photo products as meaningful gifts and keepsakes.

The study also found that over 40% of all the buyers in each of the product categories covered had bought them for the first time in the last year. Many buyers plan to purchase again this year and spend more on their next purchase. The popularity of photo merchandise products among first-time buyers and a strong contingent of repeat buyers is good news for the overall market.” (Rise Above Research)

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