PUNE, July 30, 2024 (GLOBE NEWSWIRE) –Video Editing Software Market Size Analysis:
According to SNS Insider Research, the video editing software market size is expected to register USD 3.09 billion in 2023 and exceed USD 5.13 billion by 2032, growing at a CAGR of 5.8% over the forecast period 2024-2032.
The increasing demand for video content across multiple platforms is projected to drive significant growth in the global video editing software market. The increasing use of social media and digital marketing techniques has driven the demand for high-quality video content, leading to the development of advanced video editing tools. Another major trend in the market is that artificial intelligence (AI) will become part of video editing software, helping in editing steps and enhancing user experience. For example, in July 2024, Google will release a new AI video tool, Vid, offering affordable enterprise-level motion graphic design services, including AI-generated storyboards, editable template libraries, and royalty-free stock footage.
With the influence of social media in the film and advertising industries, educators are gradually requiring user-friendly video editing solutions. The demand for cheap and free software for editing videos and content is on the rise, driving the revenue and growth of the market. The most popular software currently in use are Canva, Adobe, and DaVinci Resolve, some of which offer the best user experience with features. For example, in 2024, Canva was popular for photo and video editing, generating revenue of around $9 million.
To maintain an edge over their competitors, major competitors in the industry are investing heavily in research and development. Industry leaders frequently turn to strategic alliances, acquisitions, and product launches to gain market share and meet evolving consumer demands. For example, Hour One has announced a collaboration with Google Cloud to gain a huge customer base by entering the Google Cloud market and revolutionize video production with the help of AI.
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The analysis of the key players covered in this report includes:
Autodesk, Inc.Adobe, Inc.CyberLink CorporationCorel CorporationApple, Inc.Avid Technology, Inc.TechSmith CorporationMagix Software GmbHArcSoft, Inc.Wondershare Technology Group Co., Ltd.Other players
Video Editing Software Market Report Scope:
Detailed Report Attributes Market Size in 2023 US$ 3.09 Billion Market Size by 2032 US$ 5.13 Billion CAGR 5.8% from 2024 to 2032 Base Year 2023 Forecast Period 2024-2032 Historical Data 2020-2022 Key Regions Covered North America (US, Canada, Mexico), Europe (Germany, UK, France, Italy, Spain, Netherlands, Rest of Europe), Asia Pacific (Japan, Korea, China, India, Australia, Rest of Asia Pacific), Middle East & Africa (Israel, UAE, South Africa, Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America) Key Growth Drivers • Rising demand for video editing applications in the business sector.
Recent developments
In November 2023, Wondershare and TikTok collaborated on developing a video editing tool designed with TikTok creators in mind. The partnership aims to improve the editing process of material for the platform and provide features that enhance the user experience. In April 2023, CyberLink and NVIDIA partnered to use GPU acceleration and AI in CyberLink’s PowerDirector software. The partnership will reduce rendering times and improve the overall efficiency of video editing tasks, especially when working with high-resolution footage.
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Segment Analysis:
Based on deployment type, the on-premise segment dominated the market with a revenue share of over 55% in 2023. This dominance is attributed to the preference for cost-effective and user-friendly solutions, especially among individual content creators and small and medium-sized businesses. The best and most advanced integration features of editing tools have boosted the usage of free tools among SMEs and influencers.
Key Segmentations of the Video Editing Software Market:
By deployment type
By end user
CommercialPersonalAVProfessionalOther
Regional Analysis:
North America is the leading region accounting for more than 36% market share in the global video editing software market in 2023 as some of the leading video editing companies are located in this region. Also, video editing software has a huge potential due to the high demand in the local market in this direction of video production.
Popular major players in the market with efficient software video editing apps have brought growth factors to the market, for example, Adobe (After Effect, Premier Pro), Autodesk, Corel Corporation (Corel video studio, Pinnacle studio) etc. have invested heavily in software development and also generated huge revenues.
Key Takeaways
The video editing software market is expanding rapidly due to the rising demand for video materials across all industries. The introduction of AI is enabling automation and also enhancing innovation that is revolutionizing the industry. More and more organizations are using cloud-based solutions due to their collaboration features and ease of use. The on-premise category has become mainstream due to its affordability and ease of use. Of these, North America and Europe are the two largest markets, while Asia Pacific has emerged as a promising growth region.
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Table of Contents – Main Points
1.First of all
2. Industry Flowchart
3. Research Methods
4. Market Trends
5. Porter’s Five Forces Model
6. Plague Analysis
7. Video Editing Software Market Segmentation by Deployment Type
8. Video Editing Software Market Segmentation by End-User
9. Regional Analysis
10. Company Profile
11. Competitive Environment
12. Use Cases and Best Practices
13. Conclusion
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