Online photofinishing revenue in North America is on track to grow 72% between 2002 and 2003, according to a new report by InfoTrends Research Group. Worldwide, revenue is forecasted to grow at a 40% compound annual growth rate through 2008. Much of this revenue growth can be attributed to the viral marketing effects of sharing photos online with friends and family. In 2002, these visitors accounted for nearly 20% of the prints ordered online!
“The online photo services market is experiencing considerable revenue growth, with many vendors now operating on a profitable basis and new vendors entering the market,” says Jill Aldort, a Senior Research Analyst at InfoTrends Research Group. "Though the market is growing, it is likely to eventually face further brand consolidation over time, given the growing competition from retailers that offer digital photofinishing services. Online photo services are seeking to retain their loyal members by introducing more sophisticated photo sharing options, and by offering prepaid print and volume price packages.”
Photo sharing is a key activity for online photo service members, and many of the friends and family members who are invited to view members' photos actually become members themselves. This activity will continue to positively influence the online photo services market through 2008. Membership is growing, and more importantly, the average number of prints ordered online per member is rising.
InfoTrends new report entitled "2003 Online Photo Services Forecast – Photo Sharing Benefits the Bottom Line" is available immediately. It provides a five-year forecast for total online photofinishing revenue, including number of online photo service users, photos uploaded, and prints ordered by registered members and visitors. The report provides market share of the leading vendors and profiles over 25 key players, including Ofoto, PhotoWorks, Shutterfly, Snapfish, Sony ImageStation, Wal-Mart, and Webshots. It also includes analysis of ongoing market issues and trends.
About InfoTrends Research Group
InfoTrends Research Group, Inc. (www.infotrends-rgi.com) is the leading market research and consulting firm for digital imaging technologies and markets. InfoTrends helps its worldwide clientele improve the effectiveness of their strategic planning by providing valuable tools for intelligent decision-making, including forecasts, end-user research, product analysis, and market trend tracking. InfoTrends is a member of the CAP Ventures family (www.capv.com), a worldwide strategic consulting firm for providers and users of business communication technologies and services.
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