IBISWorld is out with a list of 10 American industries that has seen sharp revenue declines, a fall in industry participants and a declining life cycle stage between 2002 and 2012.
2017 revenue: $897.1 million
Competition from digital cameras and camera phones has been a blow to the photofinishing industry which hsa seen revenue shrink 11.4 percent every year over the last 10 years. The pervasiveness and consumer shift to digital devices and online photo-sharing platforms has seen fewer consumers turn to printing photos.
The photofinishing industry is expected to see revenue fall 9.9 percent per year over the next five years. Eastman Kodak Company which recently filed for Chapter 11 bankruptcy protection is one of the biggest industry players.