Global Statistics Representing Photo Booth Market Scenario
Photo booth is a digital vending machine consist of camera and film processor specifically used for capturing photographs for official documents and entertainment purposes. In the recent few years, photo booths market has expanded owing to its simple business model. Photo booths have become popular owing to its adoption in weddings, parties, corporate events and in government services. Photo booth companies mainly offer rental services on hourly basis, hence majorly contributing in the market growth. The primary equipment required for photo booth are camera, background, props and other devices such as printer and software, hence resulting in low investment supporting many new entrants in the market. Photo booths are mainly used to capture photos for official documents such as passports, driving license and other documents. Besides this, it has gained huge popularity in wedding, parties and other entertainment occasion, thereby propelling the market growth.
Global photo booth market by equipment sales is expected to grow at CAGR 20.7% during the forecast period 2019–2026.
Identification forms a significant part of our life, irrespective whether at home or overseas, photo Id is essential to remain safe and secure. This photo id cards are used for a wide range of applications depending upon their type and usage. The photograph used on the official documents possess a numerous benefit such as: prove the identification when needed, operate efficient security within the office environment and others. The photo booths play an important role in capturing the photos for such official documents specifically in the countries such as UK, France, Japan and others. Mainly photo booths are adopted for passport and driving license purposes, hence considerably propelling the market growth.
Photo booths are one of the best ways to capture a moment in several occasions such as weeding, parties and others. It helps in providing the event with memorable moments rather than just a photo-graphs. The adoption of photo booths directly eliminates the hassle of taking pictures yourself thereby providing the opportunities to enjoy the occasions. Ease of installation and cost-effective characteristics of photo booths also facilitates its adoption in the major events, hence fueling the market growth. The photos captured in the booths are directly sent to the printer, hence eliminating the longer waiting periods for printing
Global photo booth market is mainly bifurcated on the basis of product and application.
Based on product, the photo booth market is mainly segmented into rental services and equipment sales. The rental services in photo booth market is gaining wide range popularity and becoming an essential component in any successful wedding, party or any other events, thereby providing great fun not only to the guest but also providing long lasting memories. According to UK wedding statistics 2017, about 40% of the demography hires a photo booth in wedding ceremony. Photo booth rental is gaining a wide range of acceptance owing to the social media integrated booths which allows the guest to step into social media sharing kiosk and sharing the pictures instantly on the social media platforms.
On the basis of application, the photo booth market is segmented into document photo and entertainment occasion. Document photo both is primarily used to capture photos for passports, driving license and other official documents. Photo booth is regarded as the most efficient and best way for capturing the images which meets the requirements of International Civil Aviation Organization. For instance: In April 2016, Her Majesty Passport Office in United Kingdom has been testing the idea of selfie photos owing to the advantages such as free, quick and easy to take. Innovation in photo booth technology for various applications is simultaneously fueling the market growth. In December 2016, Photo-Me announced the launching of photo booths which will be able to send the photos and signature directly to the UK passport office.
Geographically, the photo booth market is segmented by North America, Europe, Asia Pacific, and Latin America, the Middle East, and Africa (LAMEA).
North America is expected to witness considerable growth in photo booth market during the forecast period 2019–2026. Photo booth rental services have become popular in United States and Canada for wedding receptions, bar, parties and other private and public events. Photo booth rental services have gained a significant demand in the cities such as Salt Lake City, Vancouver, Philadelphia, Portland and San Francisco.
Europe dominates the global photo booth market mainly owing to the higher adoption in the countries such as UK and France. Growing adoption of GIF photo booths in marriage ceremonies and other occasion significantly propel the market growth. According to the statistics conducted by Photo- me international Plc, one of the significant players in photo booth market states that, European photo booth market increased by 4.5% in 2015 mainly in the areas such as France, Switzerland and UK. The number of photo booths Hundred units placed in the region increased from 48% to 50% in 2015. The scheme which allows the user to take a photograph and signature and then send it to a secure server is mainly facilitating the growth of photo booths in France.
Asia Pacific is expected to witness growth in photo booth market at the CAGR of approx. 19.8% during the forecast period 2019–2026. Increasing demand for photo booth in countries such as Japan and other parts of Asia are expected to influence the market grow positively. Photo booth are also known as Purikura in Japan which lets to take series of photos and doodle it according to the customers preferences.
However, LAMEA is expected to witness moderate growth in photo booth market during the forecast period 2019–2026.
Some of the most prominent players in Photo booth market Photobooths (Photobooths.co.uk), Photo-Me, Reakt Media (T3 Photobooths), MADE Photo Booths LTD (U.K), Kingdom Photo Booth LLC (U.S.), Dreambooth (U.S.), BLUR Productions (U.K), Photobooth Supply Co (U.S.), Virtual Photo Booth (U.K), BoothBits (England), Magic Mirror, Photo-Me International Plc (U.K)
Photo Booth Market Segmentation
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Our report covers the global Photo booth market insights, focusing on recent developments in the market in different regions and development strategies of the companies. Moreover, following sections are specifically covered in the report.