According to the Market Statsville Group (MSG), the global video editing software market size is expected to grow from USD 1,531.6 million in 2021 to USD 4,103.6 million by 2030, at a CAGR of 15.1% from 2022 to 2030.
A video editing software allows the user to change and edit video clips and convert file formats, edit clips, frame cropping, colour cross dissolving, sound adding, trimming, and color modifying utilizing various tools. Video editing software aids in post-production and editing new videos in digital format, and it is one of the world's fastest expanding markets. Pros commonly use these applications to edit commercials and promotional videos, and novices to edit videos for short films or television shows. Several video editing apps are accessible online to assist novices with the fundamentals of video editing. Moreover, surge in the use of video editing apps by social media handles, YouTubers, and influencers to improve the quality of their films.
Growing media and entertainment sector, rising demand for high-speed internet, rising adoption of video-on-demand, rising video content on social media and OTT platforms, and rising collaborations between brands and social media influencers are all factors driving the global market growth. However, issues such as rising software piracy and the availability of numerous free versions of video editing and open-source software are projected to stifle future growth in the video editing software industry.
Key drivers driving worldwide market revenue growth include expanding acceptance of Over The Top (OTT) platforms, increasing the number of YouTubers and social media influencers, and rising adoption of cloud-based video editing software.
Fast expansion in the media and entertainment industry, the soaring market for high-speed internet, increased adoption of video-on-demand, rising production of video content on social media and OTT platforms, and rising collaborations between brands and social media influencers are all factors driving the global market growth. Moreover, there has been a surge in the use of video editing apps by social media handles, YouTubers, and influencers to improve the quality of their films.
Constraints such as rising software piracy and the availability of various free versions of video editing and open-source software are projected to hinder future growth in the video editing software industry. As a result, the expansion of the video editing software industry may be constrained.
Several technological developments and the use of modern technology in the broadcast and media sectors have increased video quality. The video editing program now uses tremendous features of complex and sophisticated video editing software. As a result, the market includes various video editing software programs for business and home usage. Several important market participants' goods include sophisticated rendering tools, versatile tools, customizable add-ons, and plug-ins.
A large client base in the media and broadcast sectors and increased demand for video content production are propelling the entire video editing software market forward.
The study categorizes the video editing software market based on type and application at the regional and global levels.
Based on application, the global video editing software market is divided into commercial, personal, and others. The commercial segment is growing at the fastest CAGR throughout the forecast period, owing to rising high-speed internet penetration, the emergence of YouTube channels and OTT platforms, an increase in the number of collaborations among companies, brands, and influencers, rapid growth in the media and entertainment industry, and widespread use of good video editing software for short films, promotional content, and advertising.
Based on the regions, the global Video Editing Software Market has been segmented across North America, Asia-Pacific, Europe, South America, and the Middle East & Africa. North America is expected to account for the largest revenue share during the forecast period due to the presence of established market players, the availability of various video editing software, the widespread adoption of OTT platforms and on-demand video services, the emergence of highly skilled video editors, and ongoing efforts to release upgraded versions of video editing software.
The global video editing software market is highly competitive, with key industry players adopting strategies such as product development, partnerships, acquisitions, agreements, and expansion to strengthen their market positions. Most market companies focus on expanding operations across regions, augmenting their capabilities, and building strong partner relations.
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