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May 21, 2014

90% Of 380 Billion Photos Taken Annually, are shot via Mobile

The Online Photo  sharing market has seen  a phenomenon growth during the last few years powered by  the rise in mobile web and the rise of social networks. More photos gets shared via the social web  than what is shared in person.More than 380 billion pictures that are taken every year, out of which 90% of them are shot via a mobile phone. 

 An increasing number of broadband and mobile internet connections also facilitated consumer access to such websites, contributing to industry growth despite low consumer disposable income. Consequently, revenue is estimated to grow annually during the five years to 2013, including significant growth in 2013

The market for digital photography is estimated at USD 82.6 billion by the year 2016, registering a growth of 5.9% annually. 

The digital photography market with its complementary products like cameras, lenses, printers, storage cards, digital photo frames, and photo editing software, accounts for more than USD 68.5 billion. Hence its complementary products generate more in revenues and provide an opportunity to become huge business.