The photography industry is expected to experience steady growth over the next five years, bringing revenues to $10 billion. Demand for commercial and portraiture photography services is expected to closely follow trends in employment, disposable income and corporate profit.
Per capita disposable income is anticipated to be the primary driver of demand moving forward. As disposable income increases, more individuals and households are expected to demand industry services for portrait and special event photography.
An increase in the level of corporate profit is also anticipated to lead to greater demand from private businesses and organizations. Growth in corporate profit will be driven by continued increases in demand for goods and services. As businesses make more money, they are able to increase spending on photography services for commercial use.