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The audio and video editing software market size is forecast to increase by USD 1,486.21 million, at a CAGR of 6.38% between 2023 and 2028.
The growth of the market depends on several factors, including the increase in the rate of content generation and the rise of OTT platforms, the strategic partnerships and collaborations between market participants, and the decrease in prices of audio and video editing software. It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
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The increase in content generation and the rise of OTT platforms are notably driving the market growth, although factors such as an increase in the use of open-source and free editing software may impede the market growth. Our researchers studied the data for years, with 2022 as the base year and 2023 as the estimated year, and presented the key drivers, trends, and challenges for the market.
The increase in content generation and the rise of OTT platforms are the key factors driving the global market growth. Content generation refers to maintaining and updating websites, blogging, videography, online commentary, maintaining social media accounts, and editing and distributing digital content. In a digital content file, the information can be stored or published via audio and video files, graphics, or animations and image formats.
The extensive use of social media platforms, such as Facebook, Twitter, Instagram, and YouTube, has created a significant demand for digital content. The users of such social media platforms are creating audio and video files to be shared on these platforms. Digital media consumption is also growing with the increase in the adoption of smartphones and rising Internet speeds. Influencers and digital marketers across these platforms are leveraging editing software to differentiate the content in their channels. Thus, the rise in the consumption and generation of digital content will augment the growth of the market for audio and video editing software during the forecast period.
The shift toward a cloud-based delivery model will fuel the global market growth. Globally, cloud adoption has increased among various industries due to advantages such as reliability, enhanced uptime, enriched IT services, increased flexibility of data access, and improved operational speeds. Moreover, cloud services help organizations from various industries grow their businesses. Owing to such benefits of cloud solutions, various audio and video editing software companies are developing cloud-based audio and video editing software.
Adobe has developed Creative Cloud, which can be used on mobile and desktop devices. The company is offering these cloud solutions on a subscription basis, and it lets customers pay as per their use. The company states that there has been an increase in the number of subscribers due to the adoption of this model. Thus, the shift toward a cloud-based delivery model is expected to support the growth of the market during the forecast period.
An increase in the use of open-source and free editing software is a major challenge to the global market growth. The purchase of audio and video editing applications in the current market is through a single perpetual license or subscription-based model. Most startups and SMEs are price-conscious buyers as they cannot afford expensive commercial software. The purchase of the software requires an initial substantial investment. To save on this expense, various SMEs and non-professional users look for free and open-source software.
SMEs are adopting open-source software as it is more transparent, reliable, and cost-effective. Developers have code visibility and can refer to the source code to locate bugs, explore security vulnerabilities, and understand the interaction of the code with machines. Also, organizations can modify open-source applications as per their requirements at no cost. Thus, the increase in the use of open-source or free audio and video editing software is expected to limit the market's growth during the forecast period.
Our analysis of the Life Cycle of the market indicates a movement from the innovator’s stage to the laggard’s stage. The report illustrates the lifecycle of the market, focusing on the adoption rates of the major countries including the US, Canada, China, Japan, Germany, and the UK. Technavio has included key purchase criteria, adoption rates, adoption lifecycles, and drivers of price sensitivity to help companies evaluate and develop growth strategies from 2022 to 2027.
Global Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market
Acon AS - The company offers audio and video editing software that is used for restoring and recording high-quality audio from LP or audio/video tapes to CDs. Also, the company offers other products, including applications, plug-in suites, and plug-ins.
We also have detailed analyses of the market’s competitive landscape and offer information on 20 market companies, including :
Qualitative and quantitative market research and growth analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. In market growth analysis and market forecasting, data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market share growth by the commercial segment will be significant during the forecast period. The commercial end-user segment consists of all end-users that use audio and video editing applications for commercial purposes. This includes the media and entertainment industry, enterprises, digital marketing agencies, and the advertising industry.
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The commercial segment showed a gradual increase in market share with USD 2,650.13 million in 2017 and continued to grow by 2021. The commercial end-user segment of the global market is expected to witness a moderate growth rate during the forecast period due to the growth of the film industry and the over-the-top (OTT) video streaming industry, as well as the increase in the number of digital marketing firms and advertising agencies. Furthermore, our report provides a brief analysis of the historical and forecast market share and their segments along with the reasons for growth from 2017 to 2027.
The growth of this segment is primarily attributed to the increasing adoption of Audio and Video Editing Software, which is driven by an increase in the global demand for the industry.
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North America is projected to contribute 42% of market growth by 2027. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
North America is the largest region in terms of market size due to the demand for editing software from the media and entertainment industry. The US is the major revenue contributor to the market in this region. Hollywood is the largest film industry in the world, which is home to several prominent film production houses, digital media agencies, and animation studios. The US witnesses a higher demand for audio and video editing applications than the other countries in the region.
Our report forecasts revenue growth at global, regional & country levels and provides a market research report analysis of the latest market trends and analysis and growth opportunities from 2017 to 2027.
The market is a dynamic landscape characterized by constant product launches and innovations. The competitive rivalry among market players is intensified by the threat of new entrants and substitution, driving companies to leverage Porter's Five Forces framework for strategic decision-making including Threat of New Entry, Threat of Substitution, Supplier Bargaining Power, Buyer Bargaining Power. In this active environment, companies strive to be cutting-edge innovators, constantly emerging in new quadrants of the market. They develop product and business strategies to stay ahead, offering key benefits to stakeholders.
Research methodologies, including primary and secondary research, are crucial for gathering insights. Subject matter experts, C-level executives, procurement managers, production managers, technical personnel, distributors, and key opinion leaders contribute valuable perspectives. Data from secondary research sources such as industrial magazines, association findings, and government websites complement primary research efforts. The research period spans an extensive duration to ensure comprehensive coverage of segments and market trends. The strategic management framework incorporates tools like the portfolio matrix to assess product positioning. Ultimately, the market thrives on innovation, strategic planning, and insights gathered through robust research methodologies.
Audio and Video Editing Software Market Scope
Report Coverage |
Details |
Page number |
167 |
Base year |
2022 |
Historical year |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 6.38% |
Market growth 2023-2027 |
USD 1,486.21 million |
Market structure |
Fragmented |
YoY growth (%) |
6.02 |
Regional analysis |
North America, Europe, APAC, South America, and the Middle East and Africa |
Performing market contribution |
North America at 42% |
Key consumer countries |
US, Canada, China, Japan, Germany, and UK |
Competitive landscape |
Leading companies, Competitive Strategies, Consumer engagement scope |
Key companies profiled |
Acon AS, Adobe Inc., Animoto Inc., Apple Inc., Autodesk Inc., Avid Technology Inc., Blackmagic Design Pty. Ltd., Corel Corp., CyberLink Corp., Flowplayer AB, KineMaster Corp., MAGIX Software GmbH, Microsoft Corp., Movavi Software Ltd., Online Media Technologies Ltd., Sony Group Corp., Steinberg Media Technologies GmbH, TechSmith Corp., WeVideo Inc., and Wondershare Technology Co. Ltd. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by End-user
7 Market Segmentation by Device
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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