New York, Feb. 11, 2022 (GLOBE NEWSWIRE) -- The latest research study on “Video Editing Software Market Forecast to 2027 - COVID-19 Impact and Global Analysis by Type (On-Premise and Cloud) and Application (Commercial and Personal), and Geography”, published by The Insight Partners. The video editing software market growth is driven by the significant adoption of professional video editing software solutions by media and broadcast industry. Based on application, the commercial subsegment of the market accounted for more than three-fourth share of the global market in 2019 and the same subsegment is projected to witness a lucrative CAGR of 6.0% from 2020 to 2027.
| Report Coverage | Details |
| Market Size Value in | US$ 1,942.97Million in 2019 |
| Market Size Value by | US$ 3,047.57Million by 2027 |
| Growth rate | CAGR of 5.9% from 2020-2027 |
| Forecast Period | 2020-2027 |
| Base Year | 2020 |
| No. of Pages | 174 |
| No. Tables | 56 |
| No. of Charts & Figures | 72 |
| Historical data available | Yes |
| Segments covered | Type and Application , and Geography |
| Regional scope | North America; Europe; Asia Pacific; Latin America; MEA |
| Country scope | US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina |
| Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
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Video Editing Software Market: Competitive Landscape and Key Developments
Adobe, Inc.; Animoto Inc.; Apple Inc.; Autodesk, Inc.; Avid Technology, Inc.; Biteable Pty Ltd; Clideo (Softo Ltd.); Clipchamp Pty Ltd.; Corel Corporation; Cyberlink Corporation; Enlight Videoleap; and Flexclip (Pearlmountain Limited) are among the key players in the global video editing software market. The leading companies focus on expanding and diversifying their market presence and acquiring a new customer base, thereby tapping prevailing business opportunities.
In 2020, Wondershare announced a new strategic partnership with Pond5. Wondershare members will use Pond5 contents within Wondershare products for video creation.
In 2019, CyberLink Corp. declared a new partnership with global news agency AFP, equipping the company’s journalists with the award-winning video editing software Power Director.
Several advancements and the integration of advanced technologies in the broadcast and media sector have improved video quality. The video editing application now utilizes the powerful capabilities of advanced and sophisticated video editing software. As a result, the market comprises a broad range of software packages for video editing applications for both commercial and personal use. The products offered by several prominent market players feature powerful rendering tools, flexible tools, customized add-ons, and plug-ins. Currently, factors such as a considerably large customer base across media & broadcast industries and the rising demand for video content development are collectively fueling the growth of the overall video editing software market. Furthermore, the recent emergence of social media influencers across Instagram, YouTube, and other platforms has propelled the demand for improved video content, driving professional video editing solutions. Thus, the market is poised to provide numerous profitable business opportunities for market players in the coming years.
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The global pandemic COVID-19 continues to bring long-term disruption across several major IT and technology sectors. For instance, several IT and other major technologies firms are anticipating in lower number business contracts across numerous industrial verticals however, selected others have witnessed limited or negligible impact of the pandemic. For instance, service industries such as media & broadcast, entertainment, education, and selected others have witnessed cautious sending towards procurement of advanced or additional technologies for improved business function. As a result, the market witness lower demand owing to disruption of media recording was discontinued across entertainment, sports, advertisement and selected other verticals. However, as the economic activities have resumed in major economies and the demand for easy-to-use and cost-effective editing solutions are increasing, the market is set to recover swiftly.
Popularity of Online Video Content Across Social Media Platforms to Propel Video Editing Software Market Growth in Coming Years:
The recent considerable rise in popularity of various social media platforms and subsequent transition of several marketing and advertisement spending converging on these platforms gained unprecedent traction. Furthermore, the rising trend of social media influencers and professional video bloggers, along with notable rise in number of online video content-based sellers, collectively have powered the growth of creative video content. As a result, the continuous demand for improved video content has subsequently facilitated the penetration of professional video editing solution and software application among the growing end user base. In addition, several market players operating in the market have launched numerous smartphone-specific software applications targeting a fast-growing customer base with customized dashboards for swift video editing solutions. Hence, the rise in popularity of online video content-based customer base such as content sellers, advertisers, and influencers are projected to provide lucrative growth opportunities for the market players during the coming years.
Video Editing Software market: Type
The global video editing software market, based on type, is segmented into on-premise and cloud-based. The on-premise segment held a larger market share in 2019. An on-premise deployment allows complete control over the entire software. The accountability for data security remains with the customer, and the in-house IT department or the individual assures requirements. Handling on-premise solutions is complicated for the user owing to the deficiency of transparency of the on-premise infrastructure on the developer’s end. Despite the high initial cost required for on-premise deployment, several companies or individuals opt for this solution to secure respective or customer data.
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Due to the surge in demand for on-premise software, several video editing software developers offer their products to use on-premise. This factor is catalyzing the video editing software market. At present, there is no full cloud video editing software available for professional video editing that supports features of desktop software in a browser UI, stores production files in the cloud, and allows a user to edit and collaborate in the cloud. Large media & entertainment companies use on-premise solutions, which is, in turn, driving the on-premise video editing software market.
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