Social media is a networking tool which helps any individual to exchange, create, and share information photos, videos and others. In the current scenario social media tool has become the best mode for marketing, promotion and building social relationship across the globe. Photo sharing tool helps in storing, organising and sharing one’s photo collections. Increasing internet penetration coupled with adoption of photo sharing tool as a marketing strategy among the social media platforms is fuelling the growth of photo sharing market across the globe.
Photo Sharing Market Segmentation
Photo sharing market is segmented on the basis of platform which includes paid services membership and free services membership. Among both these segments free services membership segment is expected to account for the major market share as compared to paid services membership. However, services provider are offering increased features and add on services in paid services membership which is expected to support the demand of paid services membership during the forecast period.
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Photo sharing market is also segmented on the basis of application, which includes personal computers and mobile devices. Personal computers can be further sub segmented as desktop and laptop. Among both of these sub segments laptop is expected to be the major contributor on the pie for photo sharing market as compared to desktop. Increased in number of usage of laptop across the globe is expected to support its growth in photo sharing market during the forecast period. Mobile devices sub-segments include smart phone, tablets and notebook. Among all of these sub-segments smart phones is expected to account for the major share in photo sharing market as compared to other sub-segments. This growth has been supported by the increased usage of smart phone across the developing countries. Moreover, contribution of tablets in terms of share in photo sharing market is also expected show a substantial increase during the forecast period.
On the basis of end user, the photo sharing market segmentation includes enterprises and individual. Enterprises can further be sub segmented as large scale enterprise, medium scale enterprise and small scale enterprise. Among all these sub segment large scale enterprise is expected to account for the major share in photo sharing market. Increased adoption of online marketing among the product manufacturers and service providers is expected to support the growth of enterprises in photo sharing market during the forecast period.
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Globally, photo sharing market is expected to reflect a double digit growth during the forecast period. North America is expected to account for major share followed by Europe in the near future. Moreover developing regions such as Asia Pacific and Latin America are expected to show a substantial growth in photo sharing market during the forecast period. Countries such as Singapore and Japan are expected to be the major contributor in terms of revenue in photo sharing market. Increased penetration of internet in developing regions is expected to support the growth of photo sharing market.
Photo Sharing Market Drivers
Availability of wide features for creating and sharing or collections of photos with one and another coupled with increasing connectivity medium is expected to drive the growth of photo sharing market in the near future. Moreover, increased adoption of social media for generating awareness and promotion of the product and services is predicted to fuel the growth of photo sharing market during the forecast period.
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Photo Sharing Market Key Players
Key players operating in photo sharing market includes Yahoo Inc., Cooliris Path Inc., Photobucket Corporation, Phonezoo Communications Inc., Trover, Facebook Inc., Bump Technologies LLC., and Hewlett Packard among others.