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Global Photo Booth Market Size Was 338.11 Million USD In 2018
Friday, 14 Aug, 2020
A photo booth is a vending machine that contains an automated, usually coin-operated, camera and film processor. Today the vast majority of photo booths are digital. Photo sticker booths or photo sticker machines are a special type of photo booth that produce photo stickers.

A photo booth is acted as a modern vending machine which uses an automated camera and printer to instantly snap, print, and share photos. The market is going to experience a rapid growth with the increasing appetite from governments as well as individual consumers, for various events and occasions. The Global Photo Booth market size was 338.11 million USD in 2018 and it is estimated to reach 577.18 million USD by the end of 2024, with a CAGR of 11.29% from 2018 to 2024.

Based on regions, North America and Europe is holding the largest market share. In 2018, total USA Photo Booth Market Size was 73.78 Million USD, the market is expected to grow at a CAGR of 11.63% in forecast period. Total Europe Photo Booth Market Size is estimated to be 178.23 million USD in 2019, growing at a CAGR of 11.39% from 2014. 

Photo Me, Innovative Foto Inc and Digital Centre are key Photo Booth service providers. The global Photo Booth market is highly competitive and fragmented due to the presence of numerous small vendors in the market. Other prominent players in the market include WanMingDa, Fang Tu Intelligent, Faceplace, FotoMaster, PhotoExpress, etc.

Based on end uses, the market is segmented into Document Photo Printing and Entertainment Occasion Use. In 2018, Document Photo segment occupied the largest market share, 68.83%. And small & mid-size businesses buyers are expected to grow at a higher rate as compared to the large enterprises user segment during the forecast period.

One of the salient features of photo booth is the rental service, which brings more income than the equipment sales revenue, for most of companies in this industry.

Each of the Photo Booth participants has its own mature sales networks. Through their authorized distributors or their partners, Photo Booth companies keep keen on expanding their Photo Booth sales. To achieve better sales businesses, Photo Booth providers usually invest on their marketing channel every year. The market competition may become more intense with more innovation products, acquisitions and improvement of raw material cost control and etc.