Industry Analysis & Industry Trends
The industry offers professional photography services, including video recording, to private and business consumers, and is comprised of many small enterprises. Despite industry revenue falling at the start of the five years through 2016-17, industry revenue increased over the five-year period. Rebounding economic conditions improved business confidence and real incomes. These improving conditions and increasing advertising activity boosted industry demand. However, the marriage rate in the United Kingdom remained at historically low levels, which constrained demand. Furthermore, technological developments and the rapidly declining cost of photography equipment enabled consumers to take their own high-quality photographs... purchase to read more
Industry Report - Industry Investment Chapter
Comparing the human and capital equipment factors of production, using wages and depreciation costs as proxies, determines the level of capital intensity. Comparatively high depreciation costs indicate substantial investment in depreciable assets, such as buildings and equipment, resulting in high capital intensity. Conversely, high wage costs indicate high labour intensity.
The level of capital intensity in the Photographic Activities industry is medium. This is reflected by the industry’s capital-to-labour ratio, which indicates that for £1.00 spent on the use and replacement of capital equipment, £4.72 is spent on labour in terms of wages and salaries. Pho.. purchase to read more