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Global Audio and Video Editing Software Market to Reach $4.8 Billion by 2026
SAN FRANCISCO, June 3, 2021 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Audio and Video Editing Software - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.
FACTS AT A GLANCE
Edition: 9; Released: January 2021
Executive Engagements: 2014
Companies: 47 - Players covered include Acon AS; Adobe, Inc.; Animoto Inc.; Apple, Inc.; ArcSoft, Inc.; Autodesk, Inc.; Avid Technology, Inc.; Corel Corporation; CyberLink Corp; HairerSoft; iZotope, Inc.; MAGIX Software GmbH; Microsoft Corp; NCH Software, Inc.; PreSonus Audio Electronics, Inc; Sony Corporation; Steinberg Media Technologies GmbH; TechSmith Corporation; Wondershare technology Group Co., Ltd. and Others.
Coverage: All major geographies and key segments
Segments: Component (Solutions, Services); Deployment (On-Premise, Cloud); End-Use (Commercial, Personal)
Geographies: World; USA; Canada; Japan; China; Europe; France; Germany; Italy; UK; Spain; Russia; Rest of Europe; Asia-Pacific; Australia; India; South Korea; Rest of Asia-Pacific; Latin America; Argentina; Brazil; Mexico; Rest of Latin America; Middle East; Iran; Israel; Saudi Arabia; UAE; Rest of Middle East; Africa.
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ABSTRACT-
Global Audio and Video Editing Software Market to Reach $4.8 Billion by 2026
Video editing refers to the management and organization of video shots, while audio editing software relates to a software which enables editing and production of audio data. Growth of the market is mainly driven by the expansion of OTT platforms and the film industry, growing number of advertising agencies and digital marketing companies, surging content generation, and decline in the cost of video and audio editing software. Also, rising collaborationsand partnerships among companies in the market are aiding market growth. Furthermore, the growing interest in special effects in the entertainment sector with the use of editing software is anticipated to lead to the rising use of the software. Rising penetration of smartphones, growing access to high-speed internet, and increasing use of social media have led to a surge in the generation and consumption of digital content. Many digital marketers and influencers of various social medial platforms are using editing software to make their channels attractive. Video is also expected to gain an important role in digital marketing in the future. This is spurring advancements in audio and video editing software. Growing number of social media influencers, YouTubers, and online entrepreneurs are using such software to make their online video content more creative and attractive.
Amid the COVID-19 crisis, the global market for Audio and Video Editing Software estimated at US$3.2 Billion in the year 2020, is projected to reach a revised size of US$4.8 Billion by 2026, growing at a CAGR of 7.1% over the analysis period. Solutions, one of the segments analyzed in the report, is projected to grow at a 6.8% CAGR to reach US$3.5 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Services segment is readjusted to a revised 7.8% CAGR for the next 7-year period. This segment currently accounts for a 30.4% share of the global Audio and Video Editing Software market.
The U.S. Market is Estimated at $1.1 Billion in 2021, While China is Forecast to Reach $447.3 Million by 2026
The Audio and Video Editing Software market in the U.S. is estimated at US$1.1 Billion in the year 2021. The country currently accounts for a 34.18% share in the global market. China, the world's second largest economy, is forecast to reach an estimated market size of US$447.3 Million in the year 2026 trailing a CAGR of 9% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 5.3% and 5.9% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 7% CAGR while Rest of European market (as defined in the study) will reach US$492.1 Million by the end of the analysis period. The US is a leading regional market supported by the rising use of editing software in the US, which has the biggest entertainment and media industry in the world. The market is expected to continue to register strong growth due to significant use of virtual and digital software for improved viewing experience. The market is also likely to be impacted by the growing interest in cloud-based subscription models. Asia-Pacific has over the years emerged as a major destination for film production activity for filmmakers from Europe and North America, due primarily to the low cost of production. Government support, rebates and tax breaks are also providing support for the film making industry's growth, thus presenting growth opportunities. Further, the growth of on-demand services and OTT platforms is further boosting growth in online video production. More
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Global Industry Analysts, Inc., (www.strategyr.com) is a renowned market research publisher the world`s only influencer driven market research company. Proudly serving more than 42,000 clients from 36 countries, GIA is recognized for accurate forecasting of markets and industries for over 33 years.
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Zak Ali
Director, Corporate Communications
Global Industry Analysts, Inc.
Phone: 1-408-528-9966
www.StrategyR.com
Email: [email protected]
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SOURCE Global Industry Analysts, Inc.
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