US Photobook Market to Exceed $500m in 2009

May 12, 2009 | Zoltan Arva-Toth | General | Comment | |
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Futuresource Consulting says the US photobook market is on track for healthy growth in 2009, with demand projected to reach nearly 17m units this year, up from close to 12.5m in 2008. In value terms, this means the US photobook market is set to exceed $500 million this year. Although online remains the channel of choice for most consumers, with current and forthcoming product launches like the Kis photobook kiosk, duplex printing equipment from Kodak, Fuji and Noritsu, and a number of new software features from companies like Lucidium, HP, Rocketlife and DNP, there is now a growing emphasis on developing the retail angle.

Futuresource Press Release

US Photobook market to exceed $500m this year

The US photobook market is on track for healthy growth this year, with demand projected to reach nearly 17m units this year, up from close to 12.5m in 2008, according to a new US Photobook Market Report from Futuresource Consulting.

“In value terms, the US photobook market is establishing itself as a significant contributor to industry revenues,” says Joanna Wright, Senior Market Analyst, Futuresource Consulting, “with our projections showing a market value of close to $540m US dollars by the end of 2009.

“Online remains the channel of choice for most consumers, accounting for 70% of volume last year. However, the retail element is growing strongly and will play its part in further developing the photobook segment and raising consumer awareness.”

With current and forthcoming product launches like the Kis photobook kiosk, duplex printing equipment from Kodak, Fuji and Noritsu, and a number of new software features from companies like Lucidium, HP, Rocketlife and DNP, there is now a growing emphasis on developing the retail angle.

Looking to photobook production, a whole host of new players have entered the US market, with commercial print companies such as Rastar, RPI, CGX and others now accounting for around 40% of production, compared to just 20% in Western Europe.

The online Pick Up in Store (PUiS) option seems to be missing both markets in the US, accounting for less than 5% of books sold. This is in stark contrast to the situation in Western Europe, where approximately 20% of photobooks are sold this way.

“With product awareness still a very real issue for the photobook market, growth will ultimately be fuelled by increasing availability and physical presence of services - particularly at retail – combined with falling prices and quicker and easier software solutions,” concludes Wright.



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