Emergence of various short video-making applications along with development of various Over-The-Top (OTT) platforms is a key factor driving market revenue growth
By Reports and Data

Video Editing Software Market Size – USD 1.97 Billion in 2021,Video Editing Software MarketGrowth – at a CAGR of 5.9%, Video Editing Software Market Trends – Trend of content creation and easy Internet accessibility

The global video editing software market size was USD 1.97 Billion in 2021 and is expected to register a revenue CAGR of 5.9% over the forecast period, according to the latest report by Reports and Data. Rising impact of social media along with technological advancements and increasing trend of content creation and video editing are key factors driving market revenue growth.

Within a short period of time, OTT services went from being a niche streaming option to one of the most popular ways to watch TV. In reality, streaming video gained ground on broadcast TV in 2020 in terms of audience share and revenue. Acceptability of OTT services has emerged as the face of new-age OTT platform streaming, due to a number of variables, including flexibility in package options, small genre selection, accessibility on a wider variety of devices, lower prices, and penetration of high-speed internet infrastructure. Another important element is emergence of numerous short video creation tools such as TikTok, dubsmash, and clapper, among others.

With the outbreak of COVID-19, there has been a sudden rise in online streaming channels and OTT platforms. in addition, there is a high demand for video editing software owing to constant need for video content for entertainment and documentation through OTT platforms, widespread use of smart devices, such as smart TVs and smartphones, and rising demand for fast Internet connectivity and services and high-quality video content. However, accessibility of free video editing software with cutting-edge capabilities along with pirated software, which is available for free, is driving revenue growth of the market.

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Some Key Highlights From the Report

The on-premise segment accounted for a steady revenue share in 2021. Majority of organizations find that using on-premises video editing reduces overhead costs and gives them access to pre-built services for content creation. Since moving data and sharing it across numerous platforms can increase the danger of data leaks, businesses that rely on huge amounts of data or have sensitive information they do not want to send offsite may object to this approach. Organizations have more control over who owns and has access to their video content owing to on-site video editing. Some firms find it simpler to manage their video editing services this way.
The personal use segment accounted for a stable revenue share owing to factors, such as easy access to Internet and rising trend of content creation especially among generation Z and millennials, to be a part of social media. For instance, the U.S. ranks second in terms of usage and content production on Instagram with 230.25 million users and 159.75 million Instagram reel users, while 62% of YouTube viewers visit the platform daily. People also use them in assignments, projects, and academics, especially media students.
The mobile phones segment is expected to register a considerable revenue share over the forecast period. Mobile phones are portable, hence it allows users to pull one out, load an editing program, and edit wherever they want. Mobile video editing apps might be the best approach for learning how to edit as they are typically less complicated. In addition, as people use their phones more compared to PCs, they will initially feel more at ease using a smartphone, hence investing in computer editing software is expensive. Even though majority of feature-rich mobile editing apps are not free, they are not particularly expensive either. Moreover, mobile editing software is excellent for new users or beginners who are uncertain about whether they want to pursue editing professionally, therefore, smartphones offer more hands-on experience. Furthermore, with greater control, users get more involved in editing process when they directly manipulate features, tools, and effects with fingers, which can also be done much more quickly. Such factors are driving revenue growth of this segment.
The Asia Pacific market is expected to register a significant revenue share with highest growth rate in the global video editing software market over the forecast period. High adoption of digitalization content, rapid expansion in consumer electronics industry, and high levels of video content creation on OTT platforms are some of the factors driving market revenue growth. In addition, factors promoting expansion of the Asia Pacific video editing software market include rapid rise of online media streaming, increasing disposable income, rising adoption of cloud-based video editing software, growing numbers of social media influencers, and rapid growth of the media and entertainment sector. For information transmission and content training, a number of edtech platforms, including BYJU’S, Vedantu, Upgrad, and Unacademy, among others, use video editing tools and software.
Companies profiled in the market report are Adobe, Apple Inc., Corel Corporation, Autodesk Inc., CyberLink Corp., MAGIX Software GmbH., Blackmagic Design Pty. Ltd., Avid Technology, Inc., Wondershare, and Vimeo.com, Inc.

For the purpose of this report, Reports and Data has segmented the global video editing software market based on type, end-use, platform, and region:

Type Outlook

Cloud-based
On-premises

End-use Outlook

Commercial Use
Personal Use

Platform Outlook

Desktop and Laptops
Mobile Phones
Others

Regional Outlook

North America
Europe
Asia-Pacific
Latin America
Middle East & Africa

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About Reports and Data

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