Photo Editing Software Market Size, Share, Growth, and Industry Analysis, By Type(RAW Editing Software, Non-RAW Editing Software and Others), By Application(Individual, School, Commercial and Others), Regional Forecast By 2031

Photo Editing Software Market Report Overview

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The global photo editing software market size was USD 0.932 billion in 2021 & the market is projected to touch USD 1,503.61 million in 2031, exhibiting a CAGR of 4.9% during the forecast period.

The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing higher than anticipated demand across all regions compared to pre-pandemic levels. The sudden spike in CAGR is attributable to demand returning to pre-pandemic levels once the pandemic is over.

Smartphones, social media facial recognition, artificial intelligence, and even virtual reality have all had an impact on the photo editing software market. Photographers are increasingly using the photo editing solutions to provide image orientation, which aids in image transformation. Furthermore, the growing necessity for high-definition quality images, as well as the demand for digital photographs, are driving the photo editing software industry forward. Furthermore, the demand for special effects such as colour, tints, digital pictures, image orientation, and layered editing, among others, is expected to drive the growth of the market during the forecast period.

COVID-19 Impact: The Pandemic Multiplied the Users and Escalated the Market Growth

Due to the COVID-19 outbreak, the demand for photo editing software market growth increased exponentially due to factors like rising smartphone adoption, widespread high internet penetration, rising use of artificial intelligence in photo editing, and rising viewership as people stayed inside due to lockdown restrictions.  People spent more time than ever before editing and uploading stuff on social media throughout the outbreak. Many people were using programmes to soften their appearance and create appealing images while on stay-at-home orders since social isolation prompted them to avoid excursions to the salon, activities with friends, and gym workouts. All these factors combined will benefit the photo editing software market growth during the forecast period.

LATEST TRENDS

"The Technological Advancements and the Artificial Intelligence to Boost the Market Growth "

The increasing use of AI in the photo editing process has been identified as a crucial market trend. Market participants are investigating the expanded usage of AI in the photo editing process. The photo editing software industry is also embracing the integration of technology such as augmented reality and virtual reality, as well as advanced computational algorithms for making images more appealing. Furthermore, the development of 3D-imaging tools such as 3D analysis, 3D alignment, and 3D smart vision, which analyses the depth of the image and further alters it, is the most important driver driving the photo editing software industry.

By automating multiple stages, AI improves photo quality while also saving time and money. It can also detect bright areas and extract features from shadows with no noise. AI also adjusts the photo's noise level, sharpness, colour balance, contrast, and brightness based on the type, such as portraits, selfies, objects, and landscapes. The incorporation of artificial intelligence into the photo editing process will boost market growth during the forecast period.

Photo Editing Software Market Segmentation

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• By Type

Based on type, the market is classified into RAW editing software, Non-RAW editing software and others.

• By Application

Based on application, the market is classified into individual, school, commercial and others.

DRIVING FACTORS

"The Extensive Utilization of the Software by Commercial Segment to Boost the market"

During the forecast period, the commercial segment's market share will expand significantly. Due to the increasing use of picture editing software for social media platforms, e-commerce, and the fashion industries, the commercial segment has a strong influence on the photo editor software market. The commercial segment is expected to increase at a growing CAGR over the projection period. The majority of fashion businesses are increasingly using photo editing software for marketing and capturing client attention. 

Furthermore, social media marketing firms are increasingly using photo editing software for the purpose of enhancing and optimising images to make them more appealing. As a result, the increased use of picture editing software for fashion and social media marketing firms will have a beneficial impact on the commercial segment's growth. This growth in the business end-user category will drive the picture editing market even further in the future years.

"The Penetration of Smartphones Coupled with the Internet Usage will Strengthen the Market  "

The increasing usage of the internet and the increase in mobile phone sales are two of the key reasons favouring the sector. As the number of smartphone users grows, so does social media activity, which drives up demand for the software. The rising usage of smartphones is prompting market providers to create photo editing solutions designed exclusively for smartphones. Smartphone makers are also adding picture editing functions directly into the smartphone's primary camera application, allowing users to examine, adjust, and manage light balance and photo exposure effects in real time. The increasing processing power and camera capability of smartphones are leading manufacturers to develop superior mobile photo editing software, which will fuel market expansion in the projected years.

RESTRAINING FACTORS

"The Readily and Free Version Software Accessibility can Hamper the Market Demand"

One of the market's key concerns is the availability of free picture editing software. Non-professional users who do not use the editing software on a regular basis are more likely to select free software. Many free photo editing software programmes are accessible on the internet that offer basic editing functions such as colour correction, the addition of effects from pre-defined fixed effects, background modifications, resizing, format conversion, and cropping. However, the factors such as high pricing, the restricted technical expertise, and free version software accessibility over the internet, may limit the photo editing software market share.

Photo Editing Software Market Regional Insights

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"North American Region Gauge for the Huge Revenue Share in the Market"

During the anticipated period, more than quarter of the expansion of the global market would come from North America. The advent of social media advertising, the presence of well-known fashion companies, the expansion of the online advertising industry, the expansion of the e-commerce market, and the growth of SMEs are some of the reasons that have contributed to the regional market's expansion. A favourable environment for the expansion of the video streaming market in the USA has been created by the high internet, smartphone, and modern computer penetration rates. 

KEY INDUSTRY PLAYERS

"Notable Players contributing towards the market"

The Top notch players of the market are implementing and applying varied front end and back end strategies  to exceed and expand their market and platforms globally. The market's expansion was significantly impacted by the techniques employed by market participants in recent years, such as extensions. The report covers details and information about the firms and their interactions with the market.

LIST OF TOP PHOTO EDITING SOFTWARE COMPANIES

• Adobe (U.S.A)
• DxO (U.S.A)
• CyberLink (China)
• Corel (Canada)
• ON1 (U.S.A)
• MacPhun (U.S.A)
• PhaseOne (Denmark)
• Serif (U.K)
• ACDSee (U.S.A)
• GIMP (U.S.A)
• Pixlr (Sweden)
• Meitu (China).

REPORT COVERAGE

The report is an analysis of all market aspects for the forecast period. It also shows the evaluation of opportunities, trends, market share, product innovations, technology innovations, driving factors, restraints and others that contribute towards the market growth of the  software services.