Video Editing Software Market Size, Share, Growth, and Industry Analysis by Type (Cloud-based & Web-based), By Application (Commercial & Personal), Regional Insights, and Forecast To 2031

Updated On: 08 April 2024

Video Editing Software Market REPORT OVERVIEW

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The global video editing software market size was USD 549.8 million in 2021 and market is projected to touch USD 1274.9 million by 2031, at a CAGR of 8.7%.

A number of new, leading on-premises video editing platforms continue to favor video editing software because it provides a wide range of tools and controls for editing-related tasks like rendering power, project management, color grading panels, and optical flow. The cloud-based software programmer exhibits sophisticated design and skillful functionality. For subscription-based business models on PCs like Windows and Mac, as well as mobile applications like iOS and Android, it delivers basic video editing skills over the cloud.

Due to rising demand for fresh, high-quality audio and video content as well as rising digital content consumption, widespread OTT platform use, explosive growth in the consumer electronics industry, and rising smartphone and tablet usage, consumption of video content has steadily increased in recent years. Additionally, the need for video content management for both personal and professional use may be attributed to the rise in demand for video editing. Basic editing software is frequently used by amateur or inexperienced video editors to edit clips and shots for social media websites and applications.

COVID-19 Impact: Industry Shutdown Causes Market Distortion

The COVID-19 outbreak caused problems for manufacturers of services materials, including unstable markets, a drop in customer confidence, and difficulties with import and export commerce. The sourcing of raw materials, packaging, and distribution are all parts of the global supply chain. Due to lockdowns, moving commodities, labels, and other items has become difficult. In addition to having an immediate influence on markets, supply chains, supply and demand, and all of these other things, it also had a financial impact on the markets for services. The pandemic brings the disruption across several IT companies. The entertainment and education sector were totally shut down due to the sudden pandemic resulting in the decline of the market sales. It altered the dynamics of the industry, compelling organizations to redesign every aspect of their operational frameworks in order to preserve stability amidst the disturbances. Aside from that, the companies' business operations have been affected by the outbreak, which has an effect on the overall services industry. This has partially impacted the whole industry.

LATEST TRENDS

"Increasing Demand for OTT Platform to Boost the Market Growth"

Over-the-top (OTT) services are the primary trend reshaping the market. Within a short period of time, it went from being a niche streaming option to one of the most popular ways to watch TV. Due to a number of factors, including flexibility in package options, a constrained genre selection, accessibility on a wider variety of devices, more affordable prices, and penetration of high-speed internet infrastructure, OTT services have emerged as the face of New-Age OTT platform streaming. Throughout the forecast period, video editing software is anticipated to become more popular and used. The sudden rise in OTT platforms and online streaming channels, the high demand for editing software due to the ongoing need for video content for entertainment, the widespread use of smart devices like smart TVs and smartphones, the demand for fast Internet connectivity and services, and the demand for high-quality video content are the main factors propelling market revenue growth. Thus, a key trend that is opening up potential for the industry to grow is the increasing demand for OTT platforms. These new developments are mostly to blame for the market's overall growth.

Video Editing Software Market SEGMENTATION

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• By Types 

Based on type, the market is classified into Cloud-based & Web-based.

• By Application

Based on the market is categorized into Commercial & Personal.

DRIVING FACTORS

"Growing Influencer Culture and Digital Marketing that Gives the Market Extra Boost"

Video is being used more and more frequently these days. Video is used by people to give their businesses a more unique appearance and feel. Video is getting more and more popular. Due to the rise in video uploads to social media sites, more people are using video editing software. Additionally, the market is being driven by the expanding influencer culture. With the rise of social media, digital marketing, and influencer platforms, consumers are becoming more interested in influencer marketing. The recent emergence of social media influencers on YouTube, Instagram, and other platforms has increased the demand for higher-quality video content, which has prompted the creation of specialized video editing tools. Small businesses' rising demand for video production is another factor driving the market's expansion. The market is anticipated to grow in the near future due to its accessibility and low cost. As a result, the growth, and the influence culture and digital marketing will boost the market. It will contribute to the expansion of the services industry and it will improve the overall video editing software market growth.

"Cloud-Based Software to Encourage Market Expansion"

Users of cloud-based software are not required to download anything onto their computers, which is the basic idea behind it. Instead, users can access it from any computer, smartphone, or tablet with an internet connection, which is encouraging the market to expand. Because it is simpler to use, cheaper, less unstable, and requires fewer upgrades, cloud-based software is becoming more and more popular. As the demand for cloud-based technologies increases, so does the market for video editing software. Because cloud-based software is flexible and offers a range of features, it is suitable for various businesses that want to produce and distribute movies. The price of the software is also going down. As more people and businesses take advantage of the low-cost, high-quality cloud-based software that is already available, the market is expected to grow steadily over the coming years. As a result, these factors are collectively promoting market expansion, increasing company revenues. As a result, the cloud-based software will help the market to boost.

RESTRAINING FACTORS

"Easy Access to Open-Source Software to Impede Market Expansion"

Due to the growing accessibility of open-source and free editing software, sales of this editing software have recently declined. To create movies and edit their own and other people's photos, a large number of people use open-source and free editing software. These open-source and free editing programmers are renowned for their compatibility, usability, and online usability. The expansion and prosperity of this industry are seriously threatened by the illegal copying of video editing software. The theft makes it more difficult for the business to turn a profit. This may be a significant issue limiting market expansion. If this problem is fixed, the market will start to grow right away.

Video Editing Software Market REGIONAL INSIGHTS

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"North America Dominating the Market Across the Globe"

The market for video editing software in North America has benefited from the region's expanding industrial development, and various driving factors which has increased the potential sectors as this region is the largest user of the product. The key factor driving the growth of the video editing software market share is the growing demand of product in commercial and personal sector is one of the major reasons to drive the market. Rapid urbanization developments will further boost the overall market.

KEY INDUSTRY PLAYERS

"Leading Manufacturers to Boost Product Demand"

Study includes information on the market players and where they stand within the sector. Data is being collected and made available through proper research, mergers, technical advancement, growing production facilities, and cooperation. The study on materials offers details on manufacturers, regions, types, applications, sales channels, distributors, traders, dealers, research findings, and more.

List of Market Players Profiled

• Adobe (U.S.)
• Apple (U.S.)
• Avid (U.S.)   
• FXhome (U.K.)
• TechSmith Corp (U.S.)

REPORT COVERAGE

The study goes into great detail about market segmentation by type and application. The study examines a broad range of participants, including existing and potential market leaders. A considerable market expansion is anticipated as a result of several important factors. In order to provide market insights, the research additionally analyses elements that are probably to boost video editing software market share. The report makes forecasts for market expansion during the projected time period. The objective of the regional study is to explain why one region dominates the worldwide market. There are a lot of issues that have all been carefully considered that prevent the industry from growing. The research also contains a market strategic analysis. It includes thorough market information.