BCC Research claims the photography market should reach $82.5 billion by 2016.
The global digital photography market was valued at $65.6 billion in 2010, and $68.4 billion in 2011, BCC Research adds. The 2016 prediction reflects a 3.8 percent compound annual growth rate.
Cameras and lenses account for the bulk of the photography market, the firm reports, representing 55 percent of global sales. This market segment was valued at $37.6 billion in 2011, and is expected to grow at a CAGR of 5.8 percent, reaching $49.8 billion in 2016.
The photo print industry is struggling to maintain growth, BVV concludes:. In 2016, the segment is expected to slide in sales, decreasing to $24.7 billion, down from $25 billion in 2011.
However, “Photography services account for several hundred billion more in revenues and the opportunities for providing these services digitally have become big business.”