Photography in Canada Industry Market Research Report Now Available from IBISWorld

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As disposable income, consumer confidence and advertising expenditure all increase, demand for photography services will rise. For these reasons, industry research firm IBISWorld has added a report on the Photography industry to its growing industry report collection.

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Demand for photography services will rise as disposable income increases.

The Photography industry struggled during the past five years due to low demand for consumer-oriented product segments; indeed, disposable income did not return to growth until 2011, and then it only grew a meagre 0.2%. This factor kept demand for industry services low, forcing the industry to contract in 2010. “However, in the years following, the industry experienced increasing demand due to high advertising expenditure and healthier disposable income levels,” according to IBISWorld Industry Analyst Lucas Isakowitz. As a result of these factors, industry revenue is anticipated to increase an annualized 0.8% during the five years to 2014 to reach $699.1 million in revenue. In 2014, as advertising expenditure is set to increase 4.8%, industry revenue is anticipated to increase 0.6%.

The advent of digital cameras lowered barriers to entry for the industry during the past five years, resulting in a substantial number of nonemployer operations entering the industry. Consequently, the number of industry operators is anticipated to increase an annualized 2.9% in the five years to 2014, almost excessively in the form of sole properties. “As the number of industry operators increased, price competition intensified among photography operators, pressuring average profit margins,” says Isakowitz. However, increasing demand, particularly from the commercial photography segment, allowed operators to charge higher rates for services when compared with 2009.

The industry is expected to experience slow but steady growth in the five years to 2019. As disposable income, consumer confidence and advertising expenditure all increase, demand for photography services will rise. Armature photographers will continue to capitalize on low-cost, high-quality digital cameras to enter the industry, increasing the number of industry enterprises and further intensifying internal competition.

For more information, visit IBISWorld’s Photography in Canada industry report page.

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IBISWorld industry Report Key Topics

This industry provides still, video or computer photography services. Industry operators specialise in particular fields of photography, such as aerial photography, commercial and industrial photography or portrait photography. This report excludes all movie, television and video production (IBISWorld report 51211CA).

Industry Performance
Executive Summary
Key External Drivers
Current Performance
Industry Outlook
Industry Life Cycle
Products & Markets
Supply Chain
Products & Services
Major Markets
Globalization & Trade
Business Locations
Competitive Landscape
Market Share Concentration
Key Success Factors
Cost Structure Benchmarks
Barriers to Entry
Major Companies
Operating Conditions
Capital Intensity
Key Statistics
Industry Data
Annual Change
Key Ratios

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 every US and Canadian industry. 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 Los Angeles, IBISWorld serves a range of business, professional service and government organizations through more than 10 locations worldwide. For more information, visit http://www.ibisworld.com or call 1-800-330-3772.

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Gavin Smith
IBISWorld Inc.
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