such niche operators are expected to be more likely to emerge from the coming five years relatively unscathed, as are those able to differentiate themselves in an increasingly competitive industry by demonstrating superior shooting and editing skills
(PRWEB) December 19, 2011
According to a new industry research report released this month from IBISWorld, demand for photography services in the United Kingdom from the advertising and fashion markets is expected to strengthen over the next five years. Whilst, revenue for the industry is expected to continue its downward slide over the coming five years, albeit at a more moderate pace, the industry will be affected by demand from key markets such as advertising agencies and publishers, but also growth in real household disposable income and consumer confidence. Corporate spending on photography services is likely to remain strong, and moreover these clients are among the least likely to opt for lower-cost amateurs. For this reason, industry research firm IBISWorld has added a report on the Photography Industry to its growing United Kingdom Industry reports.
Professional photographers in the UK photography industry are suffering from the triple threat of a declining industry, the malaise of the wider UK economy and a drastically changing technological environment that threatens to make much of their work redundant. The past five years has shown a consolidation in the revolution in camera technology that took place earlier in the 2000s, as professionals and amateurs alike adopted digital format cameras and photo manipulation technology. Although this has decreased costs for industry operators substantially, it has also allowed many amateur photographers to compete directly with the industry. The perception has emerged within parts of the marketplace that anyone can produce professional-quality photographs, reducing the value attributed to professional photography.
This effect has been exacerbated by declining consumer sentiment and disposable household income, and by businesses cutting their budgets in the midst of the global financial crisis. However, these declines represent the industry's fates during the worst of the global financial crisis, and conditions are likely to improve for the photography industry.
The Photography industry is typified by small, non-employing operators, many of whom operate on a part-time or ad-hoc basis to supplement other incomes. The industry includes professional photographers and photographic processing services. The industry also covers specialist photography, photojournalism and videotaping of special events.Major activities covered in IBISWorld’s new industry report include, Aerial photography, Commercial photography, Film development and printing, Photojournalism, Photomicrography, Portrait photography, Videotaping of events. The report also covers Advertising and fashion photography, Commercial and industrial photography, Photographic processing services, Portraiture and Wedding photography. Industry players tend to focus their operations on specific geographical or demographic areas, such as child portraiture in a certain shopping centre, or in niche areas, such as wedding photography for a particular religious or ethnic community.
According to IBISWorld analyst, Edward Butler, “such niche operators are expected to be more likely to emerge from the coming five years relatively unscathed, as are those able to differentiate themselves in an increasingly competitive industry by demonstrating superior shooting and editing skills, marketing nous and a formidable portfolio of previous work.” For more information, download the full report from IBISWorld on the photography Industry
IBISWorld Industry Market Research Reports Contain:
About this Industry
Industry at a Glance
Key External Drivers
Industry Life Cycle
Products & Markets
Products & Services
Globalisation & Trade
Market Share Concentration
Key Success Factors
Cost Structure Benchmarks
Barriers to Entry
Jargon & Glossary
About IBISWorld Inc.
Recognized as the nation’s most trusted independent source of industry and market research, IBISWorld offers a comprehensive database of unique information and analysis on hundreds of UK industries. With an extensive online portfolio, valued for its depth and scope, the company equips clients with the insight necessary to make better business decisions. Headquartered in London, IBISWorld serves a range of business, professional service and government organizations through more than 10 locations worldwide. For more information, visit http://www.ibisworld.co.uk or call 020-3008-6568.
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