The global video editing software market size was valued at USD 1952 million in 2021 and is projected to reach USD 3245 million by 2030, registering a CAGR of 5.6% during the forecast period (2022-2030).
Video editing software has become immensely popular in recent times. This is because it has become necessary for people who want to convert raw footage into shareable, polished, professional videos. Many different types of software cater to this need. Some have created their niche by focusing on specific video editing or undercutting their competitors on price. Some have been able to stay at the top by focusing on a wide range of features, while others have carved out a unique niche in the market by pairing professional and amateur features.
Video editing software provides a broad range of tools and controls for editing-related operations such as rendering power, organizing complex projects, color grading panels, and optical flow which remains popular among several leading, emerging on-premise-based video editing platforms. The cloud-based software application shows complexity and competent features. It provides core video editing capabilities via a cloud environment for subscription-based business models on desktops such as Windows and Mac or mobile applications such as iOS and Android. Additionally, the growing demand for video editing software is attributed to its functional requirement in video content management for Personal use and AV Professionals.
Increasing Convenience Provided by Cloud-Based Software to Boost Market Progress
The basic idea behind cloud-based software is that users don't have to download it on their computers. Instead, they can access it from any computer, smartphone, or tablet with an internet connection. Cloud-based software is becoming increasingly common because it can be accessed more quickly, requires fewer updates, is less buggy, and is more cost-effective. With the increased demand for cloud-based software, the market for video editing software is also on the rise. Cloud-based software is versatile and includes various features, making them ideal for a range of businesses looking to create and upload videos. Software is also getting more affordable. The market for video editing software is expected to rise steadily over the next few years as more people and businesses take advantage of the low-cost, high-quality cloud-based video editing software available.
Growing Influencer Culture and Digital Marketing to Favor Market Growth
Nowadays, the use of video is more and more popular. People use video to give their business a more personalized look and feel. The popularity of video only continues to grow. The use of video editing software is increasing because people are now uploading videos to social media platforms. Furthermore, the growing influencer culture is driving the market for video editing software. Consumers are increasingly turning towards influencer marketing with the advent of social media, digital marketing, and influencer platforms. The need for better video content has increased recently due to the appearance of social media influencers on YouTube, Instagram, and other platforms, which has led to the development of expert video editing tools.
The growing demand for the creation of videos among small businesses is also fueling the market growth. Companies have realized that they have to adapt to the increasing influencer culture. They are now offering online courses and marketing strategies geared towards micro-influencers. With the affordability and ease of use, the market for video editing software is expected to flourish in the foreseeable future. Therefore, the market is poised to provide numerous profitable business opportunities for market players in the coming years.
Easy Access to Open-Source Software, Pirated Software, and Free Editing Software
The recent decrease in sales of video editing software is due to the increasing availability of open-source and free editing software. Many individuals globally are availing of open-source and free editing software to make movies and edit their personal and professional photos. These open-source and free editing software are known for their compatibility, user-friendliness, and availability of using them online. While these programs cannot do everything their paid competitors can, they do the job at no cost.
Furthermore, pirated software is becoming a significant problem for the video editing software industry. Software piracy is the illegal copying of copyrighted software. The illegal copying of video editing software is a serious threat to the growth and success of this industry. This stealing makes it harder for the company to make a profit. The company finds it challenging to maintain a profit because it must pay the software developers for their copyrighted software. This protects the company from lost profits due to illegal software use. These issues can hamper the growth of the video editing software industry.
Growing Adoption of Video Editing for OTT Platforms and EdTech Platforms to Boost Market Opportunities
Most video editors and filmmakers use video editing software to make movies, television shows, and other productions more exciting and engaging. An OTT (over-the-top) content platform allows users to stream and download any video content they desire. It bypasses the traditional cable and satellite TV providers, allowing people to watch content directly from their internet connection. These platforms provide easy access to entertainment, due to which the demand for content is shooting up, fueling the video editing software market share.
In addition, video recordings and pre-recorded webinars and courses are widely used in academic institutions of all sizes to supplement instruction. The visual aspect of media significantly impacts student retention. As a result, market growth is expected to be greater for multimedia companies using video content (not just text or graphics) because such methods are more effective for teaching than traditional educational methods alone. This should also positively impact the demand for the technology that creates and stores such multimedia.
The global market for video editing software is segmented into platform, deployment mode, end-user, and regions.
Based on the platform, the global market is segmented across Desktop and Mobile. The Desktop platform comprises Windows, Mac, and Others. The Desktop segment is acknowledged to have the highest market share at a CAGR of 5.2%. The growth is primarily due to the increased usage of desktops in the system.
The Mobile segment is the fastest growing segment. The Mobile platform comprises iOS, Android, and Others.
iOS is a proprietary mobile operating system designed and developed by Apple Inc. It is primarily used on Apple devices. The iOS operating system is a Unix-based operating system and runs on iPhone, iPad, and iPod Touch devices and is mainly based on Darwin, the BSDs, and Mach.
Android platform is a software that develops applications, software, and games primarily for the android OS. It is based on Java. It is a mobile operating system developed by Google, based on the Linux kernel, and designed primarily for touchscreen mobile devices like smartphones and tablets.
Other mobile applications include Symbian, Microsoft, and more. Symbian is a mobile operating system (OS) and computing platform designed for smartphones.
Based on the deployment mode, the global market is segmented across On-Premise and Cloud/Web-Based.
The on-Premise deployment mode segment held the dominant share of the market
On-Premise accounted for the highest market share and is estimated to grow at a CAGR of 5.2%. On-premise video editing software is video editing software that users install on their computer or network. These are often the most powerful video editing programs used by large studios working on high-quality videos. On-premise video editing software is not very portable and is usually designed to work with high-end equipment. It is typically delivered in a shrink-wrapped package, which is helpful for computer-based applications. Such applications fuel market growth.
The Cloud/Web-Based segment is the fastest growing segment. A cloud-based video editing software is usually a web-based platform for writing and editing video content with the user's computer. It allows users to use the software without downloading it on a computer. Instead, it can be accessed from any computer, smartphone, or tablet with an internet connection. Cloud-based software is becoming increasingly common because it can be accessed more readily, requires fewer updates, is less buggy, and is more cost-effective.
Based on end-user, the global market is segmented into Personal and AV Professionals. AV Professional accounted for the highest market share and is expected to grow at a CAGR of 6.1% during the forecast period. Video editing software provides AV professionals with a platform to conveniently and quickly edit videos for their customers. It serves as a visual storyboard for a video to come, describing each clip and scene. Professional video editing software can be used to edit video clips, complete unfinished projects or add special effects, titles, and transitions between clips in a movie. Such factors contribute to market growth.
Personal segment is the second largest. Video editing software has an extensive application for Personal use as it allows users to create a professional video on their own from a simple video shot on any device. This software is used for various purposes, including making short videos for social media, startup advertisements, a message for loved ones, and much more. This software enables users to enhance their videos easily without outsourcing them to professionals. Hence propels the demand for market growth.
By region, the global video editing software market is analyzed across North America, Europe, Asia-Pacific, Latin America, the Middle East, and Africa.
Why is North America projected to be the most lucrative market during the assessment period?
North America accounted for the largest market share and is expected to grow at a CAGR of 5.5% during the forecast period. The US, Canada, and Mexico are significant economies contributing significantly to the North American market. The continent is one of the most critical regions for new technologies because of government policies that create an inviting environment for innovation, an industrial base with lots of people who work in science fields, and high purchasing power throughout most parts of the country. This has resulted in a growing number of social networks, which have grown over time as technological advances allow us to use new devices like computers and smartphones that need high-quality video editing software to function correctly. Additionally, several companies operating in the North American video editing software market have launched numerous smartphone-specific software applications targeted at these fast-growing customers with customized dashboards for swift video editing solutions.
Europe is the second largest region. It is estimated to reach an expected USD 932million by 2030 at a CAGR of 5.7%. The video editing software market in Europe is expected to witness high growth. The UK, Germany, France, Russia, and Italy are primarily responsible for the overall expenditure contributed to the European video editing software market share. Due to the growing consumer demand and increasing film production, the European video editing software market has immense growth potential. Introducing new features and efficient functionalities in recent years is a crucial driver for this market.
Furthermore, implementing cloud-based technologies has allowed integration with other products, leading to increased demand for such solutions. The rise in online movie streaming over traditional media is also boosting consumer demand for these solutions. The growing popularity of virtual reality and augmented reality is also projected to fuel the video editing software market growth in the European region.
Asia-Pacific is the fastest-growing region. China, Japan, South Korea, India, and Australia are major economies in APAC. Rising demand due to the popularity of different video content on social media channels is pushing the need for video editing software in this region. Furthermore, countries such as Indonesia and Malaysia used to have poor internet infrastructure but have made substantial investments in recent years that are helping OTT services such as Netflix thrive. This is having a direct impact on their video editing software market demand. It is also worth mentioning that influencer marketing is booming in this region due to the ever-increasing use of social media—with Instagram saying its users watch more videos than YouTube views per day—which means video marketing has never been more critical.
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