PMA's Fox adds, "Going beyond traditional prints for profit is substantiated by PMA marketing research, which indicates spending in major photo categories: digital cameras, printing, photo books, calendars, greeting cards, posters, and other custom items, as well as home printing consumables grew 11.2% in '06 compared to '05. Total spending grew from $9.9 billion in '05 to $11 billion in 2006. The best performing digital category, in terms of growth in '06 was custom photo products and services. Demand for these products grew almost 51%, from $461 million in '05 to $694 million in '06."
"In the past 1020 years, the photography industry has undergone the biggest transformation in its history, so it may be tempting to think that now that we've largely completed the transition from analog to digital, we can all relax for a while," says John Loiacono, Sr. VP, Creative Solutions Business Unit, Adobe Systems Inc. "The reality is that the photography industry is simply the latest market to go hightech, and it will now be subject to the same rapid advances that characterize all hightech industries. Until recently, developments in the digital imaging market aimed to emulate the quality of film. Now that we've passed this hurdle, we must continue to push the power of digital to create and experience in ways that were inconceivable in the past."
Consumers store photos and video clips in a variety of locations, including memory cards, on computer, external hard drives, CDs/DVDs, online services, or even the camera, cameraphone, or camcorder itself. "Tapping into this library of photos on demand from almost anywhere in the world is where the newest opportunities will come from. It is through the creation and usage of digital imaging ecosystems, with products and services that allow consumers to access their photo stories any time, anywhere, regardless of where they are stored or the device used to view them, that the power of digital photos will truly be unleashed," says Bullock.
"The companies that enable access to and management of consumers' images will have significant influence on what people do with them, including where and how they are monetized," Bullock concludes.