MARKET GROWTH & TRENDS

Photo Editing and Album Designing Software Market

https://www.theinsightpartners.com/reports/photo-editing-software-market/#:~:text=The%20photo%20editing%20software%20market,period%20of%202020%20to%202027.

The photo editing and album software market was valued at US$ 773.3 million in 2019 and is projected to reach US$ 1,267.7 million by 2027. The Photo editing software market is expected to grow at a CAGR of 6.4% during the forecast period of 2020 to 2027.

In photo and album editing, end-users increasingly use AR to add realistic effects such as image filters, advanced image changes, and green screen effects.

One of the critical trends responsible for the market growth in the photo editing software industry is the increased adoption of AR technology in photo editing software.

The global market for photo editing software is anticipated to record significant development due to increased demand for high-quality pictures, enhancement in camera technology, and the need for special effects such as colour, tints, and more.

Factors that are driving the market growth for photo editing software are an increase in the number of cameras and smartphones users and high-definition screen accessibility. Depth sensors in smartphone cameras can scan 3D objects, enabling AR to be increasingly adopted in the process of photo editing.

AR enables the user to integrate their real-world environment with digital images, making an ordinary photograph an AR artwork.

Computer graphics and photo album editing software market

Adobe Photoshop is the most popular graphics and photo editing software product in 2022, as around a third of customers using this type of product choose this Adobe offering. Other Adobe solutions such as Creative Suite and Creative Cloud are also popular products in the market.

Information technology (IT) spending on enterprise software worldwide

https://www.statista.com/statistics/203428/total-enterprise-software-revenue-forecast/

In 2022, IT spending on enterprise software is expected to amount to around 675 billion U.S. dollars worldwide, a growth of 11 percent from the previous year. Like nearly all sub-segments of the IT services industry, the enterprise software market has experienced high levels of growth in recent years, with market revenues more than doubling in the decade between 2010 and 2020.

Content management software application market revenues worldwide from 2019 to 2025

In 2021, the global content management software application market is expected to reach 43.9 billion U.S. dollars. The market is expected to grow at a compound annual rate of 0.7 percent until 2025, suggesting that the market will not see huge gains over the next couple of years.

Computer graphics application software market volume worldwide from 2013 to 2024

https://www.statista.com/statistics/269250/computer-graphics-application-software-market-volume-worldwide-by-segment/

The size of the global computer graphics application software market amounted to 18.23 billion U.S. dollars in 2020, of which the CAD/CAM software segment accounted for most of with 9.06 billion U.S. dollars.

Marketing automation software market revenue worldwide in 2020 and 2027

It has been projected that the marketing automation software industry would grow at a CAGR of 17.67 percent between 2021 and 2027. In 2020 the market amounted to 3.6 billion U.S. dollars and is expected to reach a triple of that value by the end of 2027.

Social Media

https://www.thebusinessresearchcompany.com/report/social-media-global-market-report#:~:text=The%20global%20social%20media%20market,(CAGR)%20of%2039.7%25.

The global social media market size is expected to grow from $159.68 billion in 2021 to $223.11 billion in 2022 at a compound annual growth rate (CAGR) of 39.7%.

The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges.

The market is expected to reach $833.50 billion in 2026 at a CAGR of 39%.

Key Market Trends

Increased Emphasis on Targeted Marketing and Competitive Intelligence

A steady decline in the effectiveness of traditional advertising campaigns, coupled with rising social media usage, prompted businesses to adopt a more data-oriented approach for their marketing strategies. The emergence of social media analytics has transformed the way marketing campaigns are planned and carried out in the present day.

Social networks, such as Facebook, have realized the importance of targeted advertising that they are offering through paid solutions to businesses, wherein location, demographics, and end-device information of consumers are made available for businesses to reach out to the targeted section of consumers

In fact, according to HubSpot, a developer and marketer of software products for inbound marketing and sales, marketers increased social advertisement budgets by 32% in 2018, leading to the production of more ads than ever before.

In 2019, more brands may strengthen their online customer service practices and even move to new platforms that may potentially offer more effective technology for customer service to thrive online, such as WhatsApp and Messenger.

The release of the WhatsApp business API in August 2018 may continue to be a total game-changer in the industry. There were three million registered users on WhatsApp business by the end of the first quarter.

TikTok Will Become Huge

While Instagram is still a firm favorite, TikTok is moving up in the ranks. Plus, considering that short-form video content will become more popular, TikTok is the ideal platform to use in 2022.

During the past years, TikTok has also launched a number of useful tools, like ads and business profiles, aimed specifically at businesses.

So, it’s no longer just a platform where young creators can show off their dance moves. All in all, it’s set to become one of the main platforms that brands can use to reach millennials and Gen Z.

Reaching New Audiences Will Become a Primary Goal

According to research completed by HubSpot, the main social media goals of most marketers in 2022 will be to reach new audiences, grow relationships with customers, and boost customer service. Previously, these goals focused more on boosting sales and advertising products.

So, it’s anticipated that there will be a clear shift in how brands will use social media moving forward. Instead of using it purely for advertising, it will also be used as a channel for fostering deeper customer relations.

visual Content Will Continue to Dominate

visual content remains one of the most engaging forms of content. According to a Cisco study, by 2022, 82% of all online content will be video content. This clearly shows how important it is to start utilizing video content to stay relevant in the social media domain.

Influencer Marketing Will Continue to Soar

Influencer marketing isn’t a new trend, but it’s one that is going to stay for a while. Social media today is dominated by influencers who are getting paid exorbitant amounts to promote brands.

The adoption of this trend can be seen from both perspectives. Not only is there the sheer rise in the number of influencers on social media, but there’s also an increase in marketing spend on influencer marketing by businesses.

Wedding Photography

https://1kcreatives.com/wedding-photography-statistics/

The wedding photography industry has taken a huge blow in the last couple of years, yes. Recent reports say that only 30.5% of couples tried to make their 2020 wedding plans work. Unfortunately, the remainder of the population has either postponed or cancelled altogether.

6.9 per 1,000 is the marriage rate in the United States in 2016. The most important trend to watch in the wedding industry is that while the U.S. population expands, fewer and fewer people are getting married as a percentage of the population (from 9.8 per 1,000 in 1990 to 6.9 per 1,000 in 2016,Center for Disease Control).

Year over year, photographers are competing for a decreasing percentage of wedding couples while competing with an increasing number of wedding photographers. Differentiating your style, your brand and your client experience is as important as its ever been.

27.4 and 29.5 are the average ages of women and men for a first marriage in the U.S. in 2017, the highest on record (Pew Research Center); in India, the number of women marrying at age 18 decreased from 47% to 27% in a decade (The Economist); WeddingWire users average age is 33 years old for men and 31 years for women.

$33.4K is the average cost of a weddings in 2017 (down from $35,329 in 2016 (source: The Knot Real Wedding Study). This downward trend of the average wedding cost is also supported by a study by The Wedding Report (now at $25,760).

$2.4 to $2.6 is the average cost of wedding photography in 2017, depending on which report you view. The The Knot reported $2,630 (down from $2,783 in 2016); and WeddingWire reported $2,400 (the same figure as 2016). Wedding photography accounts for more than 13% of the $79 billion industry (IBISWorld).

While there are variations from year to year, wedding photography isn’t going anywhere as a major wedding expense and a major revenue opportunity for photographers.

In the survey, the average photographer has been in business (full-time or part-time) for 6 years and photographed 21 weddings in 2018.

• On average, photographers reported that 17% of weddings in 2018 were destination weddings, 22% of clients bought a wedding album, 40% of weddings requested a second shooter, and 48% of weddings also booked an engagement session.

• Respondents reported an average total revenue of $54,300 from their business in 2018, with a typical wedding photography package priced at $3,000.

• Total business expenses in 2018 averaged at $17,400. Most common expenses reported were equipment/gear, travel, and advertising.

• Photographers spent an average of $1,800 on advertising and $1,226 on continued education in 2018.

Artificial Intelligence Market

The artificial intelligence market size to grow from USD 86.9 billion in 2022 to USD 407.0 billion by 2027, at a Compound Annual Growth Rate (CAGR) of 36.2% during the forecast period.

The growing big data, the increasing adoption of cloud-based applications and services, and an increase in demand for intelligent virtual assistants are the major growth drivers

The limited number of AI technology experts is the key restraint to the market. The market also faces critical challenges, including data privacy and the unreliability of AI algorithms. The underlying opportunities in the AI market include improving operational efficiency in the manufacturing industry and the adoption of AI to improve customer service.

Driver

The robotics business is currently undergoing significant change due to AI, including computer vision and machine learning.

Businesses have begun to think about fully autonomous robots that can observe, interact, and conceive the environment around them in order to stay ahead in a global market.

Industries are looking for dependable and skilled technology partners as they start to traverse the current technological transformation.

Deep learning models analyse vast amounts of data, including images, texts, and sounds, accurately by using artificial neural networks.

Restraint

The workforce working with AI systems should be familiar with the technologies such as machine learning, deep learning, cognitive computing, and image recognition.

To accurately mimic the functioning of the human brain, it is challenging to integrate AI technologies with the current systems and requires substantial data processing.

Even small mistakes can cause a system to malfunction or fail, which has a significant impact on the outcomes and expected results.

To modify a current ML-enabled AI service, a data scientist or developer's expert services are required.

Because AI technology is still in its early stages of development, there are not many people in the workforce who have a thorough understanding of it. Thus, throughout the initial years of the forecast, the impact of this restraint is anticipated to be significant.

Opportunity

Increase in government initiatives and growth in investments to leverage AI technology

Government attention has been drawn to AI technology due to the expanding uses and simple deployment methods, which has resulted in an increase in government investments in AI and related technologies.

The budget for AI-based pilot programs for a variety of AI applications, including road and public safety, traffic management, and digitization of government records, has begun to be allocated by government agencies, public sector organizations, and NGOs.

Challenge

Data security and privacy concerns

Marketing teams need real-time and secure data to provide a great client experience in today's competitive industry.

Organizations are virtually measuring the data they collect through many touchpoints

Various data types may be included in the support and communication data. Public data, big data, and small data gathered from clients are some of these data categories.

Permissions, personal preferences, and current contact information for goods, services, and communication platforms can all be included in this data. Thus, in order to keep customers' trust, vendors must ensure high-level data security. Cyberattackers have substantially increased and advanced in sophistication.

Growth of the artificial intelligence (AI) software market worldwide from 2019 to 2025

https://www.statista.com/statistics/607960/worldwide-artificial-intelligence-market-growth/

n 2020, the global AI software market is expected to grow approximately 54 percent year-on-year, reaching a forecast size of  22.6 billion U.S. dollars.

AI is expected to have wide adoption in and implications for every industry vertical and is likely to be one of the next great technological shifts, like the advent of the computer age or the smartphone revolution.

 AI’s impacts on global economic

Despite changes in the global workforce, AI is predicted to contribute to global economic growth. A 2018 global survey estimates that AI will contribute to approximately 26.1 percent of China’s GDP in 2030, 14.5 percent of the GDP in North America, and 13.6 percent of UAE’s GDP.

Some of these increases in GDP stem from improvements in productivity and product enhancements due to the adoption of AI technologies. For example, AI in the technology, media and telecommunications industry is forecast to increase global GDP in 2030 by 12.5 percent – 5.5 percent from gains associated with productivity, and 7 percent from gains associated with product enhancements.

The Web Content Management Market size to grow from USD 6.9 billion in 2021to USD 14.3 billion by 2026, at a Compound Annual Growth Rate (CAGR) of 15.7% during the forecast period.

Factors such as customers’ shift toward video-based content across the OTT space and the adoption of AR and VR to enable companies to modify website content drive the growth of the WCM market across the globe.

Moreover, the increasing shift toward cloud-based SaaS content management systems for enhancing digital experiences is expected to create opportunities for WCM vendors.

DesignIng market in india

By 2020, the potential market for design in India is expected to be Rs 188.32 billion. The number of designers required by 2020 in India’s industrial, graphic, communication, packaging and other design domains is potentially 62,000

There are around 7,000 qualified desginers in India with perhaps 5,000 studying design,” says expert.

Graphic Design Statistics

Many industries have gone through tremendous changes over the last few years and graphic design is no exception, with the sector gaining momentum amid the rapid digitalization.

That’s why we prepared these essential graphic design statistics to keep you up-to-date with the industry goings-on.

The worldwide graphic design industry is worth $43.4 billion.

The US graphic design market is worth $13.3 billion.

There are 23,900 new job openings for designers every year.

Up to 24% of graphic designers stay in a job for less than a year.

68% of graphic designers have a Bachelor’s degree.

Freelance graphic designers earn $20-$150 per hour.

94% of people will leave a website with a bad design.

Graphic Design Facts & Stats

93% of all our communication is visual.

Our brains pick up visual cues faster than they read a text. This is why text-based content performs worse than visual content. Colors play a large part in this equation, with stats showing that a signature color raises brand awareness by 80%.

Consistent graphic design can lift a brand’s sales by a third.

Consistent presentation of a brand with the help of design can boost sales by 33%, graphic design statistics show. This is hardly surprising given that three to seven out of 10 consumers see packaging design as crucial for buying decisions.

75% of clients rate a business’s credibility based on their web design.

Trust is the key to gaining and retaining clients and up to 94% of consumers report poor web design will make them suspicious of the website. This impacts traffic and, as a result, sales.

Website graphic design facts show that 85% of small businesses ruin their websites by overcrowding.

Other no-nos in website graphic design are the lack of call-to-action (a mistake made by 38.5% of SMBs), hidden navigation (30.8%), and bad web typography (26.9%). Poor use of whitespace rounds up the top five with 19.2%.

Around 50% of content creators make visual content less than five hours a week.

Outsourcing graphic designer services could help you increase productivity in other aspects of your work. Some 22% reported they spend five to 10 hours creating visual content, while a huge 29% was creating visual content for over 20 hours, graphic design facts show.

Graphic Design Industry Statistics

The global graphic design industry worth stands at $43.4 billion.

Industry stats further point to 3.7% growth in 2022. The market, however, has underperformed the global economy over a five-year period, having climbed by 0.6% a year on average since 2017.

The graphic design market in the US is worth $13.3 billion.

The graphic design market size in the US currently sits at $13.3 billion and is expected to grow by 1.9% through 2022, according to graphic design statistics. The average yearly growth of 1.2% from 2017 to 2022 follows the world trend of slower growth than other industries overall but outperforms the global designer market.

Graphic designer turnover is 24% in under a year.

One of the indisputable facts about graphic design is how fast the turnover is. Designers change jobs often and within the first year, the turnover for this job is 24%, followed by 30% in the first 1-2 years, 12% within 3 to 4 years, 15% in 5 to 7 years, while only 7% stay between 8 to 10 years. However, the percentage of designers on the job for over 11 years is higher and stands at 12%.

content creation market

The content creation market is anticipated to record a CAGR of 12.2% during the forecast period (2022 - 2032). The market is expected to be valued at US$ 13.4 billion in 2022 and is likely to reach US$ 47.2 billion by 2032.

“The content creation market adoption trends are on a higher trajectory owing to the benefits associated with it, including precise targeting, cheap operating costs, ease of measurement and adjustment, high return on investment (ROI), brand extension, a focus on conducting business and segmentation.”

What are the key Content Creation Market Dynamics?

Authoring, publishing digital material, and distributing are made easier with content production software, which is driving the demand for content creation from around the globe.

The widespread usage of social media platforms such as Instagram, Twitter, Facebook, and LinkedIn, among others, is opening up a wide variety of content creation market opportunities.

The lack of open-source software, on the other hand, is a major impediment to the expansion of the market size.

Furthermore, the content creation market trends are predicted to advance due to rising digitization, increased use of social media marketing, and increased availability of high-speed internet connectivity.

The growing importance of client involvement and appropriate advertising through the internet is likely to fuel the content development business. As a result, the global market for content development is augmenting.

Furthermore, the expansion of the content creation market size is aided by businesses' increased marketing budgets.

On account of the constantly rising demand for social media marketing, the worldwide market is expected to move forward significantly during the projected period.

Implementing content creation tools is helping businesses increase revenue and promote their brands as well as augment their contention creation market share.

In addition, the adoption of content creation is on the surge owing to the usage of content development technologies in the education sector.

However, the widespread availability of free content production tools is limiting the usage of content creation tools on a big scale.

Furthermore, in light of numerous privacy concerns, certain governments have enacted rules governing the distribution of content.

The rising implementation of SaaS or cloud models is a significant factor driving the market growth.

Due to its cost-effectiveness, immense computing capacity, and flexibility, the technology is gaining a large customer base.

Furthermore, as content creation processes evolve, so do the ways in which content creation technologies are used, and the same is likely to augur well for market future trends.

Recent developments

Magisto's Emotion Sense Technology (EST) is an AI-based processing system that allows users to turn their photo and video collections into high-quality films with Hollywood-style suspense.

By providing scalability, flexibility, vast processing capacity, and cost-effectiveness, EST aids in the improvement of content audits.

Acrolinx GmbH, a provider of AI software for enterprise digital content development, has announced the majority acquisition of Gesnui GmbH, which likely helps the worldwide market expand even further.

Key Segments

By Content Format:

Textual

Graphical

Video

Others

By Enterprise Size:

Large Enterprise

Small & Medium Enterprises (SMEs)

By End-use Industry:

IT & Telecom

Travel & Hospitality

Retail

Education

Healthcare

Media & Entertainment

Others

Social networking app market

https://www.grandviewresearch.com/industry-analysis/social-networking-app-market-report

The global social networking app market size was valued at USD 39.7 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 23.4% from 2022 to 2028.

This can be credited to the rising demand for 5G technology across the globe.

The surge in adoption of personalized feed-based app in Europe is expected to boost the industry growth. Moreover, the growing demand for encrypted & self-destructive messaging-based social apps in India is refueling the expansion in the business.

Google play store segment contributed to the highest share of 55% in the global market revenue in 2021. Worldwide connectivity, best android widgets, open ecosystem, customizable online marketing for social networking apps, and intelligent multitasking system are refueling the market growth. android platform is providing the supporting noble deeds.

The surging number of social networking apps available in the play store will raise the popularity in the forthcoming years.

Asia Pacific made the largest contribution in the global social networking app of over 50% share in 2021 due to the growing adoption of social media integration in emerging economy such as China and India. Rising trend in China to adopt technologically advanced video reels- based app with feature of video editing support is propelling the industry growth.

The market share of India is driven by the rising demand for AI-based social networking applications for business networking.

Customized recommendations of social networking app with innovative virtual platform will contribute to the market growth in the times to come. Moreover, the rising demand for custom camera tools with cool tricks is further anticipated to boost the industry growth.

Europe is projected to witness a CAGR of 26.5% from 2022 to 2028. This can be attributed to the growing demand for photo and video editing tools from the consumers of U.K. and Germany.

The emerging trend in France to adopt push-to–talk feature forlive messaging. The growing adoption of initiate group conversation and customizable theme based social networking app in Germany is estimated to escalate the market growth over the forecast period.

The prime key players are blog editing features in social networking apps with graceful templates.

Multiple companies are providing live news broadcast features in social networking app.

Soaring demand for Android and Apple iOS-based devices across the world will create lucrative opportunities for the global key players. Major companies operating in the global social networking app market are as follows: