LONDON--(EON: Enhanced Online News)--Technavio has announced the top five leading vendors in their recent global visual content market report. This research report also lists 10 other prominent vendors that are expected to impact the market during the forecast period.
In 2016, the market was dominated by North America, followed by Europe, APAC, and ROW. The market in Europe was led by Germany and the UK, while the market in North America was led by the US. The market in Europe is experiencing a stagnation in growth, and the market in North America has also slowed down in recent years. On the other hand, APAC is experiencing strong growth. The video footage segment will be the fastest-growing segment of the global visual content market during the forecast period.
Competitive vendor landscape
The global visual content market is experiencing only a moderate growth because of the shift in the consumption patterns of end-users. However, new players in the market are coming up with innovative business models, but they are growing at a slow pace. The rise in low-priced images has changed the market demand-supply dynamics. The players in the market compete based on portfolio, quality, pricing, and product differentiation.
“The players in the market need to target business-to-consumer marketers, as these customers give greater importance to visual content than B2B marketers. Moreover, the number of B2C marketers is more compared with B2B marketers. The players in the market can target the B2C marketers to sell the images and videos that are used to promote various products and services,” says Poonam Saini, a lead retail goods and services research analyst from Technavio.
In addition to the diverse monetization models, payment methods are also expected to be a critical component of the subscription model of visual content. There are several payment options in the market like third-party wallet including mobile wallet, telecom wallet, credit card, and net banking.
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Top five visual content market vendors
123RF operates an online RF digital media library and offers various editorial and commercial images, audio clips, video footage, logo designs, and illustrations. The company provides low-resolution images. The company also provides value-added reseller programs for mobile application developers, website builders and newsletter generation services, print-on-demand services, Facebook applications, cloud-based applications, and advertisement creation services or applications.
Dreamstime is an online community-based site and serves independent customers and Fortune 500 companies in the US and international markets. The company offers innovative services such as DreamFinder and Keymasters, which enhance the user experience and provide a competitive edge.
Fotolia is an online marketplace connecting creators and buyers of illustrations and photos that are used in projects such as advertisements and annual reports. It offers RF images, illustrations, logos, vectors, and HD (high-definition) video footage clips. It provides instant access to more than 72 million images, vectors, illustrations, and video clips to more than five million people worldwide. It operates as a subsidiary of Adobe Systems.
Getty Images engages in the creation and distribution of images, video and audio products, press kits, documents, and other visual content products to its customers. The company's image and stock illustration offerings span across conceptual RM and RF creative images. It also provides images for editorial coverage, including sports, news, and celebrity photos. It sells its offerings through iStock, Thinkstock, and Photos.com.
Shutterstock provides stock photography vectors, illustrations, and footage to creative industry professionals across the world. It specializes in commercial digital content such as images, music, and video. The company's commercial digital imagery constitutes licensed photographs, illustrations, and video clips.
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Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
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