Professional Photographic Services in Australia - Market Research Report (2014-2029)
Melbourne, Australia
Last Updated: February 2024
ANZSIC M6991Revenue
$1.2bn
Past 5-Year Growth
Profit
$XXX.Xm
Employees
12,192
Businesses
9,167
Wages
$XXX.Xm
Professional Photographic Services in Australia industry analysis
The widespread adoption of smartphones and digital camera technology by consumers and amateur photographers has weakened demand for the Professional Photographic Services industry over the past few years. The update and development of user-friendly features on many digital and smartphone cameras have stifled spending on photographic services. Restrictions relating to the COVID-19 pandemic in 2019-20 and 2020-21 postponed events like weddings, reducing demand for services like wedding photography. Overall, industry revenue is expected to inch downward at an annualised 0.9% over the five years through 2023-24, to an estimated $1.2 billion. This includes an anticipated revenue rise of 0.3% in 2023-24 as the number of marriages expands, lifting demand for profitable wedding photography packages.
Trends and Insights
- The COVID-19 pandemic wreaked havoc on the professional photographer's incomes. Temporary government restrictions put in place slashed demand for professional photography services over the two years through 2020-21.
- Marriage ceremonies often include professional photographic services. That’s why a rebound in marriage rates subsequent to the pandemic has benefitted photographers.
- The majority of professional photographic services are purchased by consumers. For this reason, many photographers typically locate themselves near densely populated locations as there is a deeper pool of potential clients.
- Studios must provide images to the consumer that are superior to home photography while endeavouring to offer services that are preferable to competitors. New technological developments are allowing companies to constantly innovate to attract clients.
Industry Overview
Market size and recent performance (2014-2029)
Industry revenue has declined at a CAGR of 0.9 % over the past five years, to reach an estimated $1.2bn in 2024.
Trends and Insights
Developments in digital cameras and the COVID-19 pandemic have stifled demand from downstream markets
- The technological development of smartphone cameras has pushed down the price of digital cameras. To compete with smartphones, digital camera manufacturers have invested in quality enhancements.
- Additional trends and insights available with purchase
Source: IBISWorld
Industry outlook (2024-2029)
Market size is projected to grow over the next five years.
Trends and Insights
Wedding photography will remain a lucrative service for professional photographers
- Demand for wedding photography services directly correlates with the prevalent societal views on marriage, the desire for formal wedding ceremonies, and the size of the population.
Biggest companies in the Professional Photographic Services in Australia
| Company | Market Share (%)
2024 | Revenue ($m)
2024 |
|---|---|---|
MSP Photography Pty Ltd | 19.3 | |
Top Snap | 9.7 | |
Urban Angles Pty Ltd | 9.7 |
To view the market share and analysis for all 3 top companies in this industry, view purchase options.
Products & Services Segmentation
Source: IBISWorld
Industry revenue is measured across several distinct product and services lines, including Wedding photography, Advertising and fashion photography and School and graduation photography. Wedding photography is the largest segment of the Professional Photographic Services in Australia.
Trends and Insights
A growing number of marriages have lifted demand for wedding photography
- Wedding photography primarily focuses on events or activities related to weddings. Photos typically include staged and candid shots of the bride and groom, their families, other guests and the wedding cake.
- More insights available in the full report
Widen you competitive advantage with related industries
Competitors
- Photographic Equipment Retailing in Australia
- Mobile Phone and Tablet Wholesaling in Australia
Complementors
- Surveying and Mapping Services in Australia
- Motion Picture and Video Production in Australia
- Photographic Film Processing in Australia
- Advertising Agencies in Australia
International industries
- Photography in the US
- Online Photo Printing in the US
- Photography in Canada
- Photographic Activities in the UK
Table of Contents
About this industry
Industry definition
Operators primarily provide still, video or computer photographic services, including portrait, professional, street, studio and special events photography. The industry includes the videotaping of special events such as weddings, and virtual tours of properties listed for sale, but excludes motion picture filming and video production.
What's included in this industry?
Portrait photographyAdvertising and fashion photographySchool and graduation photographyOther commercial and industrial photographyWedding photographyReal estate photographyCompanies
MSP Photography Pty LtdTop SnapUrban Angles Pty LtdPurchase this report to view all 3 major companies in this industry.
Related Terms
DIGITAL SLR CAMERAPORTRAITURELIQUID CRYSTAL DISPLAY (LCD)Industry Code
ANZSIC 6991 - Professional Photographic Services in Australia
Performance
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Analyst insights
The COVID-19 pandemic wreaked havoc on the professional photographer's incomes. Temporary government restrictions put in place slashed demand for professional photography ser...
In this chapter (4)
- Current Performance
- Outlook
- Volatility
- Life Cycle
Key metrics
- Annual Revenue, Recent Growth, Forecast, Revenue Volatility
- Number of Employees, Recent Growth, Forecast, Employees per Business, Revenue per Employee
- Number of Businesses, Recent Growth, Forecast, Employees per Business, Revenue per Business
- Total Profit, Profit Margin, Profit per Business
Charts
- Revenue, including historical (2014-2023) and forecast (2024-2029)
- Employees, including historical (2014-2023) and forecast (2024-2029)
- Businesses, including historical (2014-2023) and forecast (2024-2029)
- Profit, including historical (2014-2024)
- Industry Volatility vs. Revenue Growth
- Industry Life Cycle
Detailed analysis
- Trends in supply, demand and current events that are driving current industry performance
- Expected trends, economic factors and ongoing events that drive the industry's outlook
- Key success factors for businesses to overcome volatility
- How contribution to GDP, industry saturation, innovation, consolidation, and technology and systems influence the industry's life cycle phase.
Products and Markets
Learn about an industry's products and services, markets and trends in international trade.
Analyst insight
Marriage ceremonies often include professional photographic services. That’s why a rebound in marriage rates subsequent to the pandemic has benefitted photographers.
In this chapter
- Products & Services
- Major Markets
Key metrics
- Largest market segment and value in 2024
- Product innovation level
Charts
- Products & services segmentation in 2024
- Major market segmentation in 2024
Detailed analysis
- Trends impacting the recent performance of the industry's various segments
- Innovations in the industry's product or service offering, specialization or delivery method
- Key factors that successful businesses consider in their offerings
- Buying segments and key trends influencing demand for industry products and services
Geographic Breakdown
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Analyst insights
The majority of professional photographic services are purchased by consumers. For this reason, many photographers typically locate themselves near densely populated location...
In this chapter (1)
- Business Locations
Charts
- Share of revenue, establishment, wages and employment in each region
- Share of population compared to establishments in each region in 2024
Tables
- Number and share of establishments in each region in 2024
- Number and share of revenue each region accounts for in 2024
- Number and share of wages each region accounts for in 2024
- Number and share of employees in each region in 2024
Detailed analysis
- Geographic spread of the industry across Asia Pacific, and trends associated with changes in the business landscape
- Key success factors for businesses to use location to their advantage
Competitive Forces
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
Analyst insights
Studios must provide images to the consumer that are superior to home photography while endeavouring to offer services that are preferable to competitors. New technological d...
In this chapter (4)
- Concentration
- Barriers to Entry
- Substitutes
- Buyer & Supplier Analysis
Key metrics
- Industry concentration level
- Industry competition level and trend
- Barriers to entry level and trend
- Substitutes level and trend
- Buyer power level and trend
- Supplier power level and trend
Charts
- Market share concentration among the top 4 suppliers from 2019-2024
- Supply chain including upstream supplying industries and downstream buying industries, flow chart
Detailed analysis
- Factors impacting the industry’s level of concentration, such as business distribution, new entrants, or merger and acquisition activity.
- Key success factors for businesses to manage the competitive environment of the industry.
- Challenges that potential industry entrants face such as legal, start-up costs, differentiation, labor/capital intensity and capital expenses.
- Key success factors for potential entrants to overcome barriers to entry.
- Competitive threats from potential substitutes for the industry’s own products and services.
- Key success factors for how successful businesses can compete with substitutes.
- Advantages that buyers have to keep favorable purchasing conditions.
- Advantages that suppliers have to maintain favorable selling conditions.
- Key success factors for how businesses can navigate buyer and supplier power.
Companies
Learn about the performance of the top companies in the industry.
Analyst insights
There are no professional photographic service providers that possess more than 5.0% of the share of the market. Many companies specialise in photography for a specific marke...
In this chapter
- Market Share Concentration
- Companies
- Company Spotlights
Charts
- Industry market share by company in 2020 through 2024
- Major companies in the industry, including market share, revenue, profit and profit margin in 2024
- Overview of MSP Photography Pty Ltd's performance by revenue, market share and profit margin from 2018 through 2024
- Overview of Top Snap's performance by revenue, market share and profit margin from 2018 through 2024
- Overview of Urban Angles Pty Ltd's performance by revenue, market share and profit margin from 2018 through 2024
Detailed analysis
- Description and key data for MSP Photography Pty Ltd, and factors influencing its performance in the industry
- Description and key data for Top Snap, and factors influencing its performance in the industry
- Description and key data for Urban Angles Pty Ltd, and factors influencing its performance in the industry
External Environment
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Analyst insights
The number of housing transfers will boost activity for real estate agencies, lifting demand for professional real estate photographers to draw potential buyer interest. The ...
In this chapter
- External Drivers
- Regulation & Policy
- Assistance
Key metrics
- Regulation & policy level and trend
- Assistance level and trend
Charts
- Regulation & Policy historical data and forecast (2014-2029)
- Assistance historical data and forecast (2014-2029)
Detailed analysis
- Demographic and macroeconomic factors influencing the industry, including Regulation & Policy and Assistance
- Major types of regulations, regulatory bodies, industry standards or specific regulations impacting requirements for industry operators
- Key governmental and non-governmental groups or policies that may provide some relief for industry operators.
Financial Benchmarks
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Analyst insights
Intense competition and pricing pressure weigh on photography firms' profit margins. Even so, a greater focus on premium value-added services like event videos has supported ...
In this chapter
- Cost Structure
- Financial Ratios
- Key Ratios
Key metrics
- Profit margin, and how it compares to the sector-wide margin
- Average wages, and how it compares to the sector-wide average wage
- Largest cost component as a percentage of revenue
- Industry average ratios for days' receivables, industry coverage and debt-to-net-worth ratio
Charts
- Average industry operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2024
- Average sector operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2024
- Investment vs. share of economy
Data tables
- Cash Flow & Debt Service Ratios (2014-2029)
- Revenue per Employee (2014-2029)
- Revenue per Enterprise (2014-2029)
- Employees per Establishment (2014-2029)
- Employees per Enterprise (2014-2029)
- Average Wage (2014-2029)
- Wages/Revenue (2014-2029)
- Establishments per Enterprise (2014-2029)
- IVA/Revenue (2014-2029)
- Imports/Demand (2014-2029)
- Exports/Revenue (2014-2029)
Detailed analysis
- Trends in the cost component for industry operators and their impact on industry costs and profitability
Key Statistics
Industry Data
Data Tables
Including values and annual change:
- Revenue (2014-2029)
- IVA (2014-2029)
- Establishments (2014-2029)
- Enterprises (2014-2029)
- Employment (2014-2029)
- Exports (2014-2029)
- Imports (2014-2029)
- Wages (2014-2029)
Methodology
How are IBISWorld reports created?
IBISWorld has been a leading provider of trusted industry research for over 50 years to the most successful companies worldwide. With offices in Australia, the United States, the United Kingdom, Germany and China, we are proud to have local teams of analysts that conduct research, data analysis and forecasting to produce data-driven industry reports.
Our analysts start with official, verified and publicly available sources of data to build the most accurate picture of each industry. Analysts then leverage their expertise and knowledge of the local markets to synthesize trends into digestible content for IBISWorld readers. Finally, each report is reviewed by one of IBISWorld’s editors, who provide quality assurance to ensure accuracy and readability.
IBISWorld relies on human-verified data and human-written analysis to compile each standard industry report. We do not use generative AI tools to write insights, although members can choose to leverage AI-based tools within the platform to generate additional analysis formats.
What data sources do IBISWorld analysts use?
Each industry report incorporates data and research from government databases, industry-specific sources, industry contacts, and our own proprietary database of statistics and analysis to provide balanced, independent and accurate insights.
Key data sources in Australia include:
- Australian Bureau of Statistics
- Australian Taxation Office
- Australian Securities & Investments Commission
Analysts also use industry specific sources to complement catch-all sources, although their perspective may focus on a particular organization or representative body, rather than a clear overview of all industry operations. However, when balanced against other perspectives, industry-specific sources provide insights into industry trends.
These sources include:
- Industry and trade associations
- Industry federations or regulators
- Major industry players annual or quarterly filings
Finally, IBISWorld’s global data scientists maintain a proprietary database of macroeconomic and demand drivers, which our analysts use to help inform industry data and trends. They also maintain a database of statistics and analysis on thousands of industries, which has been built over our more than 50-year history and offers comprehensive insights into long-term trends.
How does IBISWorld forecast its data?
IBISWorld’s analysts and data scientists use the sources above to create forecasts for our proprietary datasets and industry statistics. Depending on the dataset, they may use regression analysis, multivariate analysis, time-series analysis or exponential smoothing techniques to project future data for the industry or driver. Additionally, analysts will leverage their local knowledge of industry operating and regulatory conditions to impart their best judgment on the forecast model.
IBISWorld prides itself on being a trusted, independent source of data, with over 50 years of experience building and maintaining rich datasets and forecasting tools. We are proud to be the keystone source of industry information for thousands of companies across the world.
Learn more about our methodology and data sourcing on the Help Center.
Frequently Asked Questions
Unlock comprehensive answers and precise data upon purchase. View purchase options.
What is the market size of the Professional Photographic Services industry in Australia in 2024?
The market size of the Professional Photographic Services industry in Australia is $1.2bn in 2024.
How many businesses are there in the Professional Photographic Services in Australia industry in 2024?
There are 9,167 businesses in the Professional Photographic Services industry in Australia, which has grown at a CAGR of 6.3 % between 2019 and 2024.
Has the Professional Photographic Services industry in Australia grown or declined over the past 5 years?
The market size of the Professional Photographic Services industry in Australia has been declining at a CAGR of 0.9 % between 2019 and 2024.
What is the forecast growth of the Professional Photographic Services industry in Australia over the next 5 years?
Over the next five years, the Professional Photographic Services industry in Australia is expected to grow.
What are the biggest companies in the Professional Photographic Services market in Australia?
The biggest companies operating in the Professional Photographic Services market in Australia are MSP Photography Pty Ltd, Top Snap and Urban Angles Pty Ltd
What does the Professional Photographic Services in Australia include?
Portrait photography and Advertising and fashion photography are part of the Professional Photographic Services industry.
Which companies have the highest market share in the Professional Photographic Services in Australia?
The company holding the most market share in Australia is MSP Photography Pty Ltd.
How competitive is the Professional Photographic Services industry in Australia?
The level of competition is high and increasing in the Professional Photographic Services industry in Australia.
