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2024 U.S. Industry Statistics & Market Forecast - Commercial Photography
Market Size & Industry Statistics
The total U.S. industry market size for Commercial Photography:
Industry statistics cover all companies in the United States, both public and private, ranging in size from small businesses to market leaders.
In addition to revenue, the industry market analysis shows information on employees, companies, and average firm size.
Investors, banks, and business executives use growth rates and industry trends to understand the market outlook and opportunity.
| Statistics | 2019 2020 2021 2022 2023 | |
|---|---|---|
| Market Size (Total Sales/Revenue) |
Order at top of page | |
| Total Firms | ||
| Total Employees | ||
| Average Revenue Per Firm | ||
| Average Employees Per Firm | ||
| Average Revenue Per Employee | ||
Market Forecast
Market forecasts show the long term industry outlook and future growth trends. The following extended five-year forecast projects both short-term and long-term trends.
| Forecast / Industry Outlook | 2024 | 2025 | 2026 | 2027 | 2028 |
|---|---|---|---|---|---|
| Market Forecast ($ millions) | |||||
| Projected Industry Growth Rate (%) | |||||
Industry Insights
Major trends affect the Commercial Photography industry include:- Rise in demand for digital marketing and content
- Shift towards remote and location-independent photoshoots
- Increased use of drones and aerial photography
- Growth in e-commerce leading to more product photography
- Integration of AI and machine learning for image editing and management
- Sustainability concerns influencing production choices
- Popularity of authentic and candid imagery over staged photos
- Advancements in camera technology making high-quality equipment more accessible
- Expansion of niche markets like virtual tours and AR/VR imagery
- More collaborative projects crossing over with other creative fields like fashion and design
Product & Services Breakdown
Research products and services in the Commercial Photography industry generating sales. Note that products are broken into categories with different levels of classification.| Product Description | Number of Companies | Sales ($ millions) | Percent of Total Sales |
|---|---|---|---|
Industry Total |
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Digital Photo And Photofinishing Services |
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Commercial Or Industrial Photography Services |
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Other Photography Services |
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Licensing Of Rights To Use Stock Photos |
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All Other Receipts |
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All Other Operating Receipts |
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U.S. Geographic Distribution: Revenue Statistics by State
Market Size by State ($ millions) indicates how the industry's competition is distributed throughout the country. State-level information can identify areas with higher and lower industry market share than average.
Income Statement (Average Financial Metrics)
Financial metrics provide a snapshot view of a benchmark "average" company. Key business metrics show revenue and operating costs. The data collected covers both public and private companies.| Industry Average | Percent of Sales (Industry Benchmark) |
|
|---|---|---|
| Total Revenue | Order at top of page |
|
| Operating Revenue | ||
| Cost of Goods Sold | ||
| Gross Profit | ||
Operating Expenses | ||
| Pension, profit sharing plans, stock, annuity | ||
| Repairs | ||
| Rent paid on business property | ||
| Charitable Contributions | ||
| Depletion | ||
| Domestic production activities deduction | ||
| Advertising | ||
| Compensation of officers | ||
| Salaries and wages | ||
| Employee benefit programs | ||
| Taxes and Licenses | ||
| Bad Debts | ||
| Depreciation | ||
| Amortization | ||
| Other Operating Expenses | ||
| Total Operating Expenses | ||
| Operating Income | ||
| Non-Operating Income | ||
| EBIT (Earnings Before Interest and Taxes) | ||
| Interest Expense | ||
| Earnings Before Taxes | ||
| Income Tax | ||
| Net Profit Net Income | ||
Financial Ratio Analysis
Financial ratio information can be used to benchmark how a Commercial Photography company compares to its peers. Accounting statistics are calculated from the industry-average for income statements and balance sheets.| Profitability & Valuation Ratios | Industry Average |
|---|---|
| Company valuation can be measured based on the firm's own performance, as well as in comparison against its industry competitors. These metrics show how the average company in the Commercial Photography industry is performing. | |
| Profit Margin Gross Profit Margin, Operating Profit Margin, and Net Profit Margin. Show company earnings relative to revenues. |
|
| Return on Equity (ROE) Return on Equity (ROE) is net income as a percentage of shareholders' equity. Shareholders' Equity is defined as the company's total assets minus total liabilities. ROE shows how much profits a company generates with the money shareholders invested (or with retained earnings). |
|
| Return on Assets (ROA) Return on Assets (ROA) is net income relative to total assets. The market research on Commercial Photography measures how efficiently the company leverages its assets to generate profit. ROA is calculated as Net Income divided by Total Assets. |
|
| Liquidity Ratios | Industry Average |
|---|---|
| Bankers and suppliers use liquidity to determine creditworthiness and identify potential threats to a company's financial viability. | |
| Current Ratio Measures a firm's ability to pay its debts over the next 12 months. |
|
| Quick Ratio (Acid Test) Calculates liquid assets relative to liabilities, excluding inventories. |
|
| Efficiency Ratios - Key Performance Indicators | Industry Average |
|---|---|
| Measure how quickly products and services sell, and effectively collections policies are implemented. | |
| Receivables Turnover Ratio If this number is low in your business when compared to the industry average in the research report, it may mean your payment terms are too lenient or that you are not doing a good enough job on collections. |
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| Average Collection Period Based on the Receivables Turnover, this estimates the collection period in days. Calculated as 365 divided by the Receivables Turnover |
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| Inventory Turnover A low turnover rate may point to overstocking, obsolescence, or deficiencies in the product line or marketing effort. |
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| Fixed-Asset Turnover Generally, higher is better, since it indicates the business has less money tied up in fixed assets for each dollar of sales revenue. |
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Compensation & Salary Surveys for Employees
Compensation statistics provides an accurate assessment of industry-specific jobs and national salary averages. This information can be used to identify which positions are most common, and high, low, and average annual wages.| Title | Percent of Workforce | Bottom Quartile | Average (Median) Salary | Upper Quartile |
|---|---|---|---|---|
| Management Occupations | 6% | Order at top of page |
||
| Top Executives | 5% | |||
| Chief Executives | 0% | |||
| General and Operations Managers | 5% | |||
| Arts, Design, Entertainment, Sports, and Media Occupations | 60% | |||
| Media and Communication Equipment Workers | 56% | |||
| Photographers | 52% | |||
| Photographers | 52% | |||
| Office and Administrative Support Occupations | 17% | |||
| Information and Record Clerks | 5% | |||
| Other Office and Administrative Support Workers | 6% | |||
| Office Clerks, General | 5% | |||
| Office Clerks, General | 5% | |||
| Production Occupations | 5% | |||
Commercial Photography Competitor Landscape & Key Companies [PREMIUM]
The most influential companies in the Commercial Photography industry and adjacent industries either have large market share or are developing new business models and methods that could disrupt the status quo. We look at leading and emerging companies in the Commercial Photography industry and adjacent sectors:| Market Leaders: Direct Competitors Companies with the largest market share, focused in this industry |
Market leaders: Diversified Competitors Largest companies that have diversified operations in this and other industries |
| Innovators: Direct Competitors Innovative, Emerging, and Disruptive Companies that may influence the future direction of the industry. |
Innovators: Diversified Competitors Innovators and Disruptors in adjacent industries that may also affect the Commercial Photography industry. |
Source:
Innovation News
- Dec 05, 2023: Jane Smith Studio trademarks "NICE PEOPLE ONLY" - Providing on-line magazines in the field of fashion, music, entertainment, the arts
- Jul 19, 2022: Autocartel Texas trademarks "AUTOCARTEL" - Photography services; Video editing
- May 31, 2020: Jane Smith Studio trademarks "JANE SMITH" - Business card holders in the nature of leather, canvas, exotic leather, synthetic leather card cases; Fashion handbags; Handbags; Luggage; Overnight bags; Purses; Tote bags; Travelling bags; Travelling cases of leather; Wallets including card holders; Wallets made of leather or other materials; Weekend bags made of leather, canvas, exotic leather, synthetic leather; Leather purses
Recent Federal Contracts for Commercial Photography
- Mar 14, 2024: STEPHANIE A HENRY WALLACE (Atlanta, GA) awarded $6,800
- Mar 13, 2024: DAVID A WIEGOLD JR (Alexandria, VA) awarded $21,190
- Mar 08, 2024: ASSOCIATED PRESS, THE (New York, NY) awarded $146,995
- Mar 01, 2024: SHUTTERSTOCK, INC. (New York, NY) awarded $66,000
- Feb 22, 2024: JASON FLORIO (Woking, SURREY) awarded $24,000
- Feb 22, 2024: GIRARD OLIVIER MICHEL (Niamey, NE-6) awarded $24,000
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