Photo Editing Software Market by End-user and Geography - Forecast and Analysis 2020-2024

  • Published: Dec 2020
  • Pages: 120
  • SKU: IRTNTR46467

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The photo editing software market size has the potential to grow by USD 394.39 million during 2020-2024, and the market’s growth momentum will accelerate at a CAGR of 8.09%. 

This report provides a detailed analysis of the market by end-user (commercial and personal) and geography (APAC, Europe, MEA, North America, and South America). 

Photo Editing Software Market Share

Photo Editing Software Market Size

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Who are the Major Photo Editing Software Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including: 

 

  • ACD Systems International Inc.
  • Adobe Inc.
  • Alphabet Inc.
  • Apple Inc.
  • Corel Corp.
  • CyberLink Corp.
  • DxO Labs
  • Inmagine Group
  • Lightricks Ltd.
  • Samsung Electronics Co. Ltd.

 

The photo editing software market is fragmented and the vendors are deploying growth strategies such as improving their product portfolios and customer service to compete in the market. Click here to uncover other successful business strategies deployed by the vendors. 

The market players also significantly leverage external market drivers such as growth in web designing services to achieve growth opportunities. However, factors such as the availability of free photo editing software will challenge the growth of the market participants. To make the most of the opportunities and recover from post COVID19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

Download a free sample of the photo editing software market forecast report for insights on complete key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies, 

This photo editing software market analysis report also provides detailed information on the upcoming trends and challenges that will influence market growth. This will help companies create strategies to make the most of their future growth opportunities. 

What are the Key Photo Editing Software Market Drivers and Trends?

  • The growth in web designing services is a key growth driver for the photo editing software market.
  • Responsive website design is required for developing dynamic and interactive websites, which can enhance user experience and render web pages on all platforms including personal computers, laptops, smartphones, and tablets.
  • Website developers widely use photo editing software to edit stock photos, convert photo format type, standardize images as per size and style, provide text information onto photos, and size photos as per web page speed and performance.
  • The adoption of photo editing software also ensures a unified web experience for viewers by allowing the development of images according to mobile-based user experience, social media platforms, and e-commerce.
  • The increasing adoption of AR technology in photo editing software is one of the critical photo editing software market trends.
  • Depth sensors in smartphone cameras are capable of scanning 3D objects, which is driving the adoption of AR in the photo editing process.
  • AR allows the user to integrate their real-world environment with digital images thereby converting an ordinary photograph into an AR artwork.
  • End-users are increasingly using AR in photo editing to add realistic effects such as image filters, advanced image changes, and green screen effects.
  • Photo editing software with AR provides a crisp, accurate, and realistic view matching the real-time view by separating the photo from the background.

 

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Which are the Key Markets for Photo Editing Software?

Photo Editing Software Market Share by Geography

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36% of the market’s growth will originate from North America during the forecast period. The US is a key market for photo editing software in North America. Market growth in this region will be faster than the growth of the market in MEA and South America.

The rise in social media advertising is one of the prime factors that will facilitate the photo editing software market growth in North America over the forecast period. To garner further competitive intelligence and regional opportunities in store for vendors, view our sample report. 

What are the Major End-user Segments in the Photo Editing Software Market?

Photo Editing Software Market Share by End-user

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Commercial accounts for the largest photo editing software market share in the end-user segment. Commercial users of photo editing software are enterprises, professional photographers, social media marketing agencies, e-commerce websites, and fashion houses. The growing use of various social media platforms by people around the world is driving enterprises and advertising agencies to invest in social media marketing strategies. Major activities on social media are viewing, posting, and sharing visual images. Therefore, social media marketing agencies are adopting photo editing software for developing and optimizing images to make them more engaging. However, the photo editing software market share growth by the commercial segment will be slower than the personal segment.    

An in-depth scenario-based approach was followed in this photo editing software market research report to identify the direct and indirect impact of COVID-19 on market growth. Buy the full market research report to gain actionable insights on the influence of COVID-19 on photo editing software market segments.

 

Photo Editing Software Market Report

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Key Highlights of the Photo Editing Software Market Report for 2020-2024

  • CAGR of the market during the forecast period 2020-2024
  • Detailed information on factors that will drive photo editing software market growth during the next five years
  • Precise estimation of the photo editing software market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the photo editing software industry across APAC, Europe, MEA, North America, and South America
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of photo editing software market vendors

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Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

INFORMATION SOURCES

Primary sources

  • Manufacturers and suppliers
  • Channel partners
  • Industry experts
  • Strategic decision makers

Secondary sources

  • Industry journals and periodicals
  • Government data
  • Financial reports of key industry players
  • Historical data
  • Press releases

DATA ANALYSIS

Data Synthesis

  • Collation of data
  • Estimation of key figures
  • Analysis of derived insights

Data Validation

  • Triangulation with data models
  • Reference against proprietary databases
  • Corroboration with industry experts

REPORT WRITING

Qualitative

  • Market drivers
  • Market challenges
  • Market trends
  • Five forces analysis

Quantitative

  • Market size and forecast
  • Market segmentation
  • Geographical insights
  • Competitive landscape
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The photo editing software market growth will increase by $394.39 million during 2019-2024.
The photo editing software market is expected to grow at a CAGR of 8.09% during 2019-2024.
Technavio has segmented the photo editing software market by end user (Commercial and Personal) and geographic (North America, Europe, APAC, South America, and MEA).
ACD Systems International Inc., Adobe Inc., Alphabet Inc., Apple Inc., Corel Corp., CyberLink Corp., DxO Labs, Inmagine Group, Lightricks Ltd., Samsung Electronics Co. Ltd. are a few of the key vendors in the photo editing software market.
North America will register the highest growth rate of 36.41% among the other regions. Therefore, the photo editing software market in North America is expected to garner significant business opportunities for the vendors during the forecast period.
The key factors driving the photo editing software market growth are:
  • Increasing smartphone penetration
  • Increasing applications of AI in photo editing process
The photo editing software market vendors should focus on grabbing business opportunities from the commercial segment as it accounted for the largest market share in the base year.
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