Photo And Video App Market Growth Information Analysis Report by 2028

The global photo and video app market size is expected to reach USD 33.81 billion by 2028, according to a new report by Million Insights. It is expected to expand at a CAGR of 11.1% from 2021 to 2028. The market growth is attributed to the rising demand for jam-packed photo editing apps from the consumers of India. Rapidly growing demand for auto-fix videos and perspective correction video apps in China is set to drive the market in the years to come.

Rising demand for professional watermark-enabled apps is bolstering the market growth. Moreover, soaring demand for AI-based speech bubble makers is aiding the market growth. At present, key players are focusing to provide web wireframe editing tools across the globe. Growing demand for photo vignette digital apps is propelling the market growth.

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Key players are focusing to provide resizing features for photo and video apps. The key players are offering photo functions such as the conversion of images to JPEG, PNG, and WEBP formats. Multiple companies are providing the background remover feature with AI-based support. Correction patch, cloning stamp, cutter, and film grain module are the prime features of the photo and video app, which reflects the positive growth during the assessment period.

The Apple iOS Store segment will witness the highest growth over the forecast period. This can be credited to the growing demand for remote trigger video apps from consumers in the U.S. and the U.K. Additional security concerns and seamless HFR video recording features are refueling the market growth. Multitasking features, protimer, and 3D Tiltmeter are reflecting significant market growth during the forecast period.   

Asia Pacific captured the largest revenue share of over 45.0% in 2020 due to the rising demand for X-Skew video maker apps from consumers in China and India. The growing trend in India to adopt digital apps with the feature of object transformation and image retouching feature is fueling the regional market growth. The market in China is driven by the rising demand for pre-made filter photo and video apps.

Photo & Video App Market Report Highlights

• Asia Pacific held the largest revenue share of over 45.0% in 2020. This can be credited to the rising demand for graphics apps from the key players in China and India to provide one-click video editing solutions

• Based on marketplace, the Google play store segment held the largest share of over 60.0% in 2020. This can be credited to the rising demand for Google photo assistant features for the photo and video app from consumers in China and the U.S.

• The Apple iOS Store marketplace segment is projected to register the highest CAGR of 14.7% from 2021 to 2028. This can be attributed to the growing demand for anti-piracy enabled editing tools from consumers of developed economies such as the U.S. and Germany

• North America is projected to register the fastest CAGR of 14.1% from 2021 to 2028. Soaring demand for photo enhancement apps in Canada is estimated to escalate the market growth over the forecast period

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Dating Services Market Analysis and Competitive Landscape Report to 2028

The global dating services market size is expected to reach at USD 15.2 billion by 2028. The market is expected to expand at a CAGR of 7.7% from 2021 to 2028. The major growth factors of the market include the growing trend towards online dating applications coupled with the rising young population across the globe. Moreover, the growing popularity of online dating apps further provides significant growth to the market. The Match group operates through various dating services apps such as Tinder, Hinge, and others that contributed significantly to the market. However, the rising number of online frauds across the globe is projected to hamper market growth during the forecast period.

The market practiced a significant increase in the overall revenue of the dating services platforms and apps owing to the rising trend of dating services applications due to Covid-19 restrictions and lockdown. Additionally, under the lockdown conditions imposed in some countries owing to the pandemic, many people prefer dating services platforms in their free time. Bumble Inc., is one of the leading service providers of dating services accounted for a significant increase in paying users to 2.5 million in 2020 as compared to 2.0 million paying users in 2019.

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The matchmaking segment is expected to forecast a significant growth rate of 7.8% from 2021 to 2028. The growth of the market is attributed to the rising trend towards online serious relationships among the young population across the globe. Social networks play a significant role in enhancing the adoption of matchmaking services in the young population. Furthermore, the rising penetration of smartphone users coupled with growing internet availability in emerging economies is projected to provide significant growth opportunities in the near future.

Europe held a significant revenue share of more than 20.0% in 2020. Well-developed countries such as Germany, the U.K., and France are positively contributed to market revenue. The high market share can be credited to the strong presence of the young population and dating services platforms in the region, and the long-existing demand for dating services apps. Along with that, the growing number of startups such as So Syncd, Meet 5, Happn, Relate, Bare, Breeze, and others are providing dating services in the region further projected to offer a significant opportunity to market growth.

Dating Services Market Report Highlights

• Europe accounted for revenue share of more than 20.0% in 2020. The strong and wide presence of the key players and long-standing demand for dating services among the young population are accountable for high market share contribution

• North America dominated the market and accounted for the largest revenue share in 2020

• The matchmaking segment is expected to register a CAGR of 7.8% from 2021 to 2028. A significant rise in the use of dating apps for serious relationships coupled with the significant development of dating services apps drives segment growth.

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Package Holidays Market Leading Players Updates and Industry Analysis Report till 2028

The global package holidays market size is estimated to reach USD 176.4 billion by 2028. The market is expected to expand at a CAGR of 7.4% from 2021 to 2028. The growth of the market is substantially driven by the developments and advancements in the travel and tourism industry. Government initiation to boost the tourism industry across various countries has led to significant increase in the international tourist arrivals over the years and likely to be the scenario over the forecast period. Globalization and digitization across various sectors also affected tourism industry. With the online websites and portals, holiday package booking has become easy and quick, driving the overall market growth.

Moreover, rising preference from senior citizens and families with young kids for package holidays is propelling market growth. Developing economies such as Thailand, India, and China are also enjoining an increase in tourist traction. The outbreak of Covid-19 pandemic had negatively impacted the market, especially the travel and tourism sector. Due to the covid-19 restrictions, aviation industry, transportation, and hotel industry experienced massive setback. Customers preferred to stay home and cancelled registered packages, declining the market revenue. According to the United Nation’s The World Tourism Organization, in 2020, 60%-80% international tourist arrival declined as compared to 2019.

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The dynamic segment is anticipated to witness strong growth, registering a CAGR of 8.3% over the forecast period. Dynamic packages offer more convenient, customized, and unique tour packages as per the customers’ requirements. These characteristics of dynamic packages are contributing the rising popularity and in-turn the growth of the segment. Moreover, companies increasing adoption of new dynamic packaging services by companies is likely to support and drive the segment. For instance, TUI Group, one of the leading companies in the market endeavored into dynamic packaging and is expanding further. After the prototype for dynamic packaging digital platform in Spain, the company is entering in the dynamic packaging market in Poland as reported on December 20th, 2020.

In Asia Pacific, the market is anticipated to witness strong growth in the market, registering a CAGR of 7.9% over the forecast period. Increasing disposable income, increasing consumer spending on travel, and rising population are attributed to the strong growth in the region. Rapid economic growth in China has reflected in the increasing number of outbound tourist, contributing to market growth. Development and improvement of the tourist places to boost tourism industry and government initiations likely to help fuel inbound tourism as well and drive the market. 

Package Holidays Market Report Highlights

• Europe held a significant market share on revenue basis, accounted over 30.0% in 2020. Higher disposable income, higher per capita income, developed tourism industry, along with higher spending on travel and leisure activities are credited for the higher market share.

• Asia Pacific dominated the market and accounted for the largest revenue share in 2020 owing to continuous growth and development in the travel and tourism sector in the region

• The conventional package segment dominated the market in 2020 and accounted for revenue share of 80.0%. Higher preference of consumers and significant players offering pre-defined package holidays are attributed to the higher market share

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