The increased usage of digital picture booths at weddings and other events is largely driving market demand, which boosts the market size of the computer repair industry.
Covid-19 Impact & Market Status
The Photo Booth market size decreased immensely due to the advent of Covid-19. This is because of the massive downtrend in the demand for software in general as people have stopped going out. Decreased demand was also there because almost all the countries went into lockdown mode and supply chains get disrupted.
This Photo Booth Market report explores the current market, regulatory aspects, potential opportunities, and challenges in individual market segments. The report also gives a detailed outlook of the competitive landscape.
Solutions segment to Grow at Highest CAGR
Photo Booth Market is segmented by component into solutions and services. Out of these, the solutions segment is expected to grow the fastest with the highest CAGR. Because the solution suppliers offer cameras that can record high-quality slow-motion photographs and films, this category remains at the top. Photo booths with innovative digital imaging technologies are available from market leaders, offering excellent print quality and speed.
Document Photo market to Remain Atop
The document photo market is occupied a good share of the market and is expected to have the same throughout the forecast period. This is primarily because document booths are used to capture photos for passports, driving licenses, and other official documents. It is also increasing due to the need for new innovations and breakthroughs in the field of Photo Booth.
Europe Region to Render Ample Investment Avenues
Europe was the largest market for the Photo Booth accounting for over 40% of the market share in 2020 and predicted to rapidly grow throughout the forecast period. This is because of the rising demand in the photo market, an increased number of photo booths were set up in the region.
Because of expanding software penetration, the presence of significant companies in the area, and increasing strategic collaboration in the region, North America is expected to take the second-largest share of the market in the forecasted period.
The increasing penetration of social media has made people click and upload more photos for likes and comments and this is one of the reasons driving the growth of the Photo Booth Market.
Photo Booth enables users to quickly, easily, and securely upload photos, videos, and GIFs directly to their social media pages. Furthermore, increasing usage of social media is helping the growth of the Photo Booth Market.
A Photo Booth is a type of setting that helps in capturing memorable moments on various occasions such as weddings, parties, etc. It is used to click memorable photos and it helps in eliminating the hassle of taking pictures yourself and lets the people enjoy the occasion. It's a coin-operated vending machine that houses an automated camera and film processor. These factors collectively influence the global Photo Booth market, ensuring an overall market size of 1.3 billion by 2028 with an annual growth rate of 16% through the forecast span.
Photo Booth includes the features such as selecting features from a set of clicked pictures, customized photos with options like clip art, colorful backdrops, and many others. This software helps in reducing time and provide an enhanced customer experience and increases efficiency, tasks such as providing better photos with memorable backdrops and beautiful setting. Hence, the Photo Booth market is growing at a rapid pace.
However, rapid changes in economic strategies, a lack of knowledge over editing options available are some of the factors that are hampering the market growth. Nevertheless, the Photo Booth Market has growth prospects, because of the increasing need for highly efficient systems to reduce complexities.
The major players in this market are Faceplate, Digital Centre, Photobooth Supply Co., Kindom Photo Booth, Photo-Me, Extreme Booths, Photo Booth International, Open Air Photobooth, Team Play, Red Robot, Your City Photo Booth, Innovative Foto Inc, PhotoExpress, WanMingDa, and Fang Tu Intelligent. By applying technology, the R&D teams of the companies must try to bring in new technologies so that the overall quality of systems improves.
Recent Innovations in the Global Photo Booth Market:
•Purikura machines have been introduced by Taito Stations, one of Japan's biggest gaming center chains, allowing customers to take unique images with chosen backdrops, text writing possibilities, insertable ornaments, hair extensions, and tenderized light effects.
• The EOS 1300D DSLR camera from Canon Inc., a Japanese global corporation, has dual-lens technology, a 16 GB micro SD card, NFC and Wi-Fi connection, and a higher-resolution 18-megapixel sensor.
Photo Booth Market Scope
|Forecast Unit||Value (USD)|
|Revenue forecast in 2028||USD 1.3 billion|
|Growth Rate||CAGR of 16 % during 2021-2028|
|Segment Covered||Component, Application, Regions|
|Regions Covered||North America, Europe, Asia Pacific, Middle East and Africa, South America|
|Key Players Profiled||Faceplate, Digital Centre, Photobooth Supply Co., Kindom Photo Booth, Photo-Me, Extreme Booths, Photo Booth International, Open Air Photobooth, Team Play, Red Robot, Your City Photo Booth, Innovative Foto Inc, PhotoExpress, WanMingDa, and Fang Tu Intelligent.|
Key Segments of the Photo Booth Market
Component Overview, 2018-2028 (USD Billion)
Application Overview, 2018-2028 (USD Billion)
• Document Photo
• Entertainment [Amusement Parks, Shopping Centres, Retail Outlets, Events]
Regional Overview, 2018-2028 (USD Billion)
• Rest of Europe
• Rest of Asia Pacific
• Rest of South America
Middle East and South Africa