The photo printing market in Europe is expected to grow from US$ 4,506.88 million in 2019 and is projected to reach US$ 8,545.02 million by 2027; it is expected to grow at a CAGR of 8.7% from 2019 to 2027.
The impact of e-commerce and the changes in consumer preferences are among the major reasons for the stagnant performance of the conventional retail industry. Several e-commerce companies are dynamically expanding their business operations to gain increased market share. The companies prioritize their customers’ requirements with the integration of digital technology in the photo printing operations to offer an uninterrupted high-quality and personalized service. The companies operating worldwide in the photo printing market are constantly looking for strategies that support to drive a profitable growth. Moreover, the increased technological advancements help in the automation of workflows and multiple processes that ease the retail operations such as omni channel efficiency and physical store effectiveness. Although, advancements in technologies are supporting the growth of the market, the high costs of equipment might hinder the growth of photo printing market.
Based on distribution channel, the Europe photo printing market is segmented into Retail, Online, and Instant Kiosk. In terms of distribution channel, the online segment led the photo printing market in 2019. The online distribution channel facilitates customers to choose between a wide range of options. Benefits such as product customization and customer convenience will increase online photo printing and merchandising channel preference. The popularity of e-commerce platforms and the increasing internet penetration have negatively impacted the growth of the online distribution channel in the photo printing market.
The member states of Europe such as Italy, Spain, and Germany have implemented drastic measures and travel restrictions to limit the spread of COVID-19. Due to COVID-19 outbreak, the manufacturing of smartphones and digital cameras has seen a sharp decline in European countries and the retail & e-Commerce industry is expected to be under stress in 2020. Additionally, the disruption in supply of raw materials and electronic component from China will further aggravate the manufacturing industries in this region. All these factors are expected to affect the growth of the Europe photo printing market.
The overall Europe photo printing market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the photo printing market. The process also serves the purpose of obtaining an overview and forecast for the Europe photo printing market with respect to all the segments pertaining to the region. Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic. The participants who typically take part in such a process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers along with external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the Europe photo printing market. Fujifilm Corporation, Walgreens Co., Digitallab Ltd, Snapfish, and Walmart Photo are among a few players operating in the Europe photo printing market.