In this article, we will take a look at the 16 largest photography companies in the world. If you want to see more companies in this selection, go to the 5 Largest Photography Companies in the World.
According to Zion Market Research, the size of the global digital photography market stood at $105.2 billion at the end of 2020, and it is anticipated to increase to $149.4 billion by 2028. This would reflect a compound annual growth rate (CAGR) of 4.4% from 2021 to 2028. The increase in photo sharing over social media platforms like Facebook, Instagram, Snapchat, and TikTok has given a boost to the photography industry. Popular companies operating in the photography industry, such as Canon Inc (NYSE:CAJ), Sony Group Corporation (NYSE:SONY), and FUJIFILM Holdings Corporation (OTC:FUJIY), are continuously focusing on innovation and developing new technologies to enhance the quality of photography taking place globally. Additionally, a number of top camera manufacturers are investing in projects to create smaller, lighter camera bodies with equivalent shooting capabilities. It is anticipated that this will produce a favorable outlook for the industry in the upcoming years.
According to Nikkei, a cumulative 70% of the market share in the global photography industry is held by Canon Inc (NYSE:CAJ) and Sony Group Corporation (NYSE:SONY). Canon and Sony’s combined market share increased by 4.4% over pre-pandemic levels, while Nikon’s share decreased by 4.9%, and Fujifilm’s share increased by 0.9%. With 41% of the market share in 2020, North America held the top position in the global market for photographic services. The second-largest region, accounting for 29% of the market share for photography services globally, was Asia Pacific.
We have scoured multiple reports and websites to analyze the scale of operations, growth prospects, and revenue of these companies. We have focused on the pure-play companies in the photography industry that are either engaged in the production of photographic equipment or are involved in the provision of specialized photographic services. These companies have been ranked in ascending order of their 2021 revenue.
16 Largest Photography Companies in the World
2021 Revenue: $38.6 Million
Hasselblad is a Gothenburg, Sweden-based producer of digital medium format cameras and lenses founded in 1906.
The Hasselblad 500 series is considered one of the most revolutionary cameras in the photography industry. Meanwhile, the company’s XPAN line of cameras offers the 35mm format and can quickly switch to full panorama format without changing the film. The camera weighs only 950 grams with a silent camera shutter. The camera comes with three interchangeable lenses with focal lengths of 30mm, 45mm, and 90mm.
15. OM Digital Solutions
2021 Revenue: $43.7 million
OM Digital Solutions is a Tokyo, Japan-based company that was established in October 2020. In January 2021, the company bought the audio recorders, binoculars, and cameras division from Olympus. OM Digital Solutions has a headcount of around 1,800 employees.
OM Digital Solutions has succeeded in manufacturing a 35 mm SLR camera series. The company has also developed the mirrorless OM-D series, which has made it easier for content creators to capture blur-free images without the need for a stabilizing tool. OM Digital Solutions has also made significant progress in the fields of image stabilization and high-resolution imaging. The company has a presence in China, Hong Kong, Japan, the USA, Australia, and Europe.
14. Adorama Camera, Inc.
2021 Revenue: $100 million
Adorama Camera, Inc. is a New York-based retailer of cameras, lenses, cinematography equipment, tripods, studio lighting, and printers. The company was founded in 1974 and is known for its affordable offerings.
The company’s business unit covers 18,000 square feet (sqft) in Brooklyn, New York. Adorama Camera, Inc. offers various services, such as the B2B segment of the company provides consultative solutions and technical services. Meanwhile, the Rental division, founded in 1988, provides professional filmmaking equipment to content creators. The Trade segment buys used photo and video equipment. Meanwhile, Printique by Adorama Camera, Inc. provides premium photo printing services. The company claims to be the go-to spot for content creators, photographers, and vloggers.
13. Ricoh Co Ltd (TYO:7752)
2021 Revenue: $116.9 million
Ricoh Co Ltd (TYO: 7752) is a Tokyo, Japan-based imaging and electronics company that was founded in 1936. The company manufactures a wide variety of photographic products like binoculars, compact cameras, and digital single-lens reflect (DSLR) cameras for consumer use. Meanwhile, the company also produces security camera lenses along with cloud services for industrial clients.
The DSLR cameras manufactured by Ricoh Co Ltd (TYO: 7752) are waterproof and weather resistant. The company’s digital camera models are chemical-resistant, crush resistant and have GPS and Bluetooth installed. Furthermore, Ricoh Co Ltd (TYO: 7752) launched the GR III Diary Edition, which is a premium version of the classic street camera. The GR III model was launched in 2019, and a special edition was introduced in 2020 in the form of the Ricoh GR III Street Edition.
2021 Revenue: $300 million
Polaroid is a Minnetonka, Minnesota-based company known for its instant film and cameras. The company has also expanded into printers, accessories, and other mediums of media.
The company, founded in 1937, was considered one of the most technologically innovative entities of the 20th century. Polaroid reached a peak revenue of $3 billion in 1991 and gained mainstream recognition following the launch of the SX-70 folding camera. Now the flagship product of the company is the Polaroid Go, which is an analog instant pocket camera. Polaroid has also launched the Polaroid Now Plus instant camera that comes with five experimental lenses.
11. Leica Camera
2021 Revenue: $432.4 million
Leica Camera is a Wetzlar, Germany-based maker of binoculars, cameras, microscopes, optical lenses, photographic lenses, and rifle scopes founded in 1869.
Some of the notable camera models manufactured by the company are the S-System, SL-System, M-System, Q, CL, TL2-System, and Sofort. Furthermore, there have been rumors that upcoming flagship phones by Xiaomi will be installed with Leica Camera and will be launched at the MWC 2023 in Barcelona in February. The cameras manufactured by Leica are known for durability and are dust-resistant. They also have rubber armoring and intuitive handling to ensure that all the important controls of the camera are at the fingertips of the user. Leica Camera manufactures its cameras in close partnership with professional photographers.
10. B&H Photo
2021 Revenue: $460 million
B&H Photo is a New York-based independent superstore known for providing new and used professional audio, photo, and video equipment.
The store was founded in 1973 by co-founders Blimie Schreiber and her husband, Hermann Schreiber, along with a single employee. Over the years, the business grew and prospered, and now it is established inside a three-story store in New York City with over 1,000 employees and more than 400,000 products under the company’s portfolio. B&H Photo has the distinction of being the biggest non-chain camera store in the US. The company has an average daily visitor count of 5,000. B&H Photo was ranked as one of the best customer service-providing entities in 2019 in the consumer electronics segment by Newsweek.
9. Shutterstock Inc (NYSE:SSTK)
2021 Revenue: $0.77 billion
Shutterstock Inc (NYSE:SSTK) is a New York-based international creative platform offering high-quality content and full-service solutions for brands, enterprises, and media organizations. The company presently offers over 400 million photos and around 21 million video clips through more than 1.7 million contributors.
Shutterstock Inc (NYSE:SSTK) reported strong Q3 2022 results, with quarterly revenue increasing by 5% to $204.1 million. The company’s increase in e-commerce revenue was predominantly supported by the income generated from acquiring PicMonkey and Pond5. At the same time, growth in enterprise revenue was supported by Shutterstock Inc’s (NYSE:SSTK) multi-asset product solutions.
Bernzott Capital Advisors shared its outlook on Shutterstock Inc (NYSE:SSTK) in its Q4 2021 investor letter. Here’s what the firm said:
“Shutterstock, Inc. (NYSE:SSTK): The stock declined as business trends decelerated in ecommerce and Europe (approximately one-third of revenues). Additionally, the CEO left unexpectedly mid-year, and while the transition to his replacement has been orderly, it nevertheless represents a risk factor. There remains the potential for further weakness in its ecommerce and advertising markets as the economy slows. The company’s transition from a commoditized and competitive stock imagery provider to a creative tools provider carries risks, and thus we elected to exit the position.”
8. Getty Images Holdings Inc (NYSE:GETY)
2021 Revenue: $0.91 billion
With a database of more than 477 million assets, the American-British visual media corporation Getty Images Holdings Inc (NYSE:GETY) serves both businesses and consumers as a source of stock photos, editorial photography, video, and music.
In 2021, Getty Images Holdings Inc’s (NYSE:GETY) annual revenue increased from $0.81 billion to $0.91 billion, reflecting an increase of 12.67%. In Q3 2022, the company reported an adjusted EBITDA of $77.7 million. Due principally to the impact of foreign exchange on revenue, the adjusted EBITDA margin decreased from 34.4% in Q3 2021 to 33.7%. CEO Craig Peters thinks that the company was able to provide greater value to consumers, as reflected by the increasing number of paid downloads and annual subscriptions during the third quarter.
7. Panasonic Holdings Corp (TYO:6752)
2021 Revenue: $1 billion
Panasonic Group is an Osaka, Japan-based diversified conglomerate that is a renowned maker of consumer electronics products. The company also manufactures camcorders, cameras, camera accessories, and lenses under the Panasonic and Lumix brands that are trusted globally for their video and still imagery.
Panasonic Holdings Corp (TYO:6752) recently launched the Lumix S5 II camera, which the market has positively received as it has a phase hybrid detection AF system that will be favorable for content creators. The camera also has five-axis in-body image stabilization and the latest color science technology. The Lumix S5 II camera is a follow-up to the Lumix S5 camera launched in 2020.
6. Eastman Kodak Co (NYSE:KODK)
2021 Revenue: $1.15 billion
Kodak is a Rochester, New York-based company that launched its first camera in 1888. The founder of the company was focused on making photography “as convenient as the pencil.”
Thomas Edison was able to leverage the transport roll film technology launched by the Kodak founder to make the first motion picture camera. Eastman Kodak Co (NYSE: KODK) has won nine Oscar awards for its contributions to the movie industry. The company has also diversified into printing and publishing, document imaging, health imaging, and space imaging. In its history of 130 years, Eastman Kodak Co (NYSE: KODK) has been able to obtain 31,000 patents.
Longleaf Partners Fund discussed its outlook on Eastman Kodak Co (NYSE:KODK) in its Q4 2021 investor letter. Here’s what the firm said:
“Kodak (-18%, -0.83%; -12%, -0.54%), the global technology company focused on chemicals and print, in which we own convertible preferreds, was a detractor, despite excellent operating results at the company. Our appraisal of Kodak’s value surged 12% last quarter up to $10/share due to strong pricing in the printing plates and film segments. Kodak’s new chemical-free Sonora plate business grew 35% and is much more environmentally sustainable than the competition. Digital Printing, a razor/razorblades annuity business, approached breakeven, while Kodak’s next generation Prosper product line grew 17%. The Licensing segment, which is a surprisingly large part of appraised value, again grew steadily with massive operating margins.”
In addition to Eastman Kodak Co (NYSE:KODK), companies such as Canon Inc (NYSE:CAJ), Sony Group Corporation (NYSE:SONY), and FUJIFILM Holdings Corporation (OTC:FUJIY) are some of the largest photography companies in the world.
Click to continue reading and see the 5 Largest Photography Companies in the World.
Disclosure: None. 16 Largest Photography Companies in the World is originally published on Insider Monkey.
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