Continued Growth Seen In Digital Photo Printing By Consumers
By Staff -- TWICE, 2/27/2006
Newton, Mass. — Revenue from consumer printing of digital photographs will continue to to steadily grow through 2009, according to a newly released study by Lyra Research.
The report, Forecast 360, sees North American revenue from sales of home photo printing supplies and in-store and online printing services more than doubling from a combined $2.3 billion in 2002 to $5.2 billion in 2009.
In 2006, revenues from digitally printed images will hit $4.3 billion on the strength of both at-home and retail solutions.
The compound annual growth rate is pegged at 7.3 percent for the eight-year period.
Worldwide revenue from photo printing is expected to grow from a combined $6 billion in 2002 to $19.7 billion in 2009, a compound annual growth rate of 13 percent.
According to Steve Hoffenberg, director of Lyra's Digital Photography Advisory Service, “The percent of digital camera and camera phone images that are printed will remain modest, and the average price per print will sag in response to competitive pressures and through improved production efficiencies. Nevertheless, the sheer number of images digitally captured is exploding. The result will be a steady increase in digital photo-printing revenues through the remainder of the decade.”
Monetizing stored images will be a key focus for suppliers at the Photo Marketing Association's annual trade show and convention at the Orange County Convention Center in Orlando, Fla.
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