Ken Research Latest Report “Saudi Arabia Photo Studio Market Outlook to 2021 – Rising Number of Weddings and Growing Corporate Events to Shape the Future” provides a comprehensive analysis of the photo studio market in Saudi Arabia. The report covers aspects such as the market size of the photo studios and market segmentation on the basis of region. The report also covers the competitive landscape, snapshots of major provinces in Saudi Arabia and demand gap analysis. In addition to this, the report also covers case studies of major players. This report will help industry consultants, owners of photo studios, potential entrants and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
Photo Studio Industry in Saudi Arabia
Photo studio industry in Saudi Arabia has seen constant year on year growth over the period 2011-2016. As per Ministry of Statistics, Saudi Arabia and Ken Research Analysis, the numbers of photo studios in the Kingdom have inclined from ~ in 2011 to ~ in 2016 posting a CAGR of ~% during the period. The photo studios industry in terms of revenue has been estimated to be around SAR ~ billion in Saudi Arabia. Number of corporate events held in the kingdom inclined to ~ in 2016 from ~ in 2015 (revealed by Ministry of justice, Saudi Arabia). On the other hand, ~ weddings were registered in Saudi Arabia during 2016. To cover large events and marriages, around ~ photographers while ~ videographers are required. The entire Makkah region has the highest number of photo studios (~) in Saudi Arabia closely followed by Riyadh with ~ studios as of 2016
Riyadh Photo Studio Market
The market in terms of revenue has been earmarked to be around SAR ~ million in 2016 contributing over ~% to the overall revenues of the Saudi Arabia industry during the year. There were around ~ photo studios in Riyadh during 2016 with a total of ~ employees. As per data provided by Ministry of Justice, Saudi Arabia, ~ marriage contracts were signed in Riyadh during 2016. The capital city is also considered as the corporate centre of Saudi Arabia. The capital city hosted ~% of the corporate events in Saudi Arabia during 2016. According to The Saudi Exhibition and Conventions Bureau, ~ licensed activities, including exhibitions, forums, conferences, workshops and meetings were organized in Riyadh during 2016 generating considerable revenue for photo studios in the area.
Geographic Market Performance of Riyadh City
Within Riyadh, Al-‘Olayya and Sulaymaniyyah district is considerably popular among the photo studios in the city. These areas are part of Riyadh’s business district with ~ photo studios located in the area. These districts comprises of some of the top hotels which host multiple events that generate considerable demand for photography services in the city. Burj Rafal Hotel Kempinski, Hyatt, Four Seasons, Al Faisaliah, Hilton Garden Inn and many others are located on Al-‘Olayya and Sulaymaniyyah district. Moreover, Riyadh International Convention and Exhibition center and the Kingdom Center are also located on Al Olayya district making it one of the best places to establish a photo studio in Riyadh.
Competition Scenario in Riyadh Photo Studio Market
There are around ~ photo studios in Riyadh as of 2016. These photo studios compete with each other on various parameters including price, brand value, client portfolio, events covered, types of services offered and technology used. Inas, Reema Studio and Cattleya are three of the major photo studios in Riyadh. INAS has ~ branches located in Riyadh earning total annual income of SAR ~ million. On the other hand Reema Studio on Abdullah bin Suliman Al Hamdan street, Olaya district earns approximately SAR ~ million yearly. Cattleya’s average annual income is SAR ~ million. Other major photo studios in Riyadh are Details Media Production, Imagination Makers and others
Key Topics Covered in the Report:
- Riyadh Photo Studio Market Size
- Geographic Market Performance of the Industry
- Competition Scenario
- Case Studies of Major Photo studios in Riyadh
- Future Outlook and Projections of Photo Studios in Riyadh
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Ankur Gupta, Head Marketing & Communications