Press release
Audio And Video Editing Software Market Poised for 8.1 % Growth, Set to Hit $4.98 Billion by 2029
Audio And Video Editing Software Market
The growth of the audio and video editing software market is likely to be spurred on by the rise in the use of social media. The fact that smartphones are widely available and internet plans are affordable makes accessing social media much easier. This type of software takes social media content to the next level, empowering creators to hone and adapt their multimedia messages for powerful, interactive and professional displays. For example, Avocado Social, a social media marketing consultancy based in the UK, reported that the number of social media users rose by 424 million in 2022 - a growth of more than 10%, reaching a total of 4.6 billion globally in 2021. Thus, the surge in social media usage is accelerating the expansion of the audio and video editing software market.
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What growth opportunities are expected to drive the audio and video editing software market's CAGR through 2034?
The market size of audio and video editing software has experienced substantial growth in the past few years. The market is predicted to expand from a value of $3.38 billion in 2024 to $3.65 billion in 2025, demonstrating a compound annual growth rate (CAGR) of 7.9%. The notable growth during the historical period can be linked to the explosion of multimedia and the growth of the internet, the surge in consumer content creation, as well as the emergence and development of digital media and entertainment industries.
Strong expansion is anticipated in the audio and video editing software market over the coming years, with projections indicating its size will reach $4.98 billion by 2029, marking a compound annual growth rate (CAGR) of 8.1%. This prospective growth during the forecast period owes much to a rising demand for more accessible interfaces, the emerging significance of remote and collaborative operations, incorporation of artificial intelligence (AI) and automation, burgeoning mobile editing significance, and the broadening scope of virtual and augmented reality (VR/AR) content. Crucial trends during this forecast period entail AI and machine learning assimilation, cloud-based editing platforms, encompassing audio editing, escalating incorporation of cooperative tools, and the abilities of mobile editing.
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How are the latest trends influencing the growth of the audio and video editing software market?
Key players in the audio and video editing software market, like Wondershare Technology Group Co. Ltd., are focusing on creating innovative products such as video editing software to boost their market profitability. Leveraging machine learning and AI technologies, these software automate and simplify editing processes such as noise reduction, content analysis, and effect application. For example, in January 2024, the Chinese software firm Wondershare launched filmora 13.1.0, an advanced video editor with AI-powered audio features. This includes an expanded AI music generating library, improved text-to-speech voices, and extensive customizability. It also includes over 30 new natural tones and atmospheric sound modifications, allowing for more authentic voiceovers.
Which growth-oriented segments of the audio and video editing software market are leading the industry's development?
The audio and video editing software market covered in this report is segmented -
1) By Component: Solution, Services
2) By Deployment: On-Premise, Cloud-Based
3) By Application: Professional Users, Non-Professional Users
4) By End-User: Live Broadcasting, Media And Entertainment
Subsegments:
1) By Solution: Audio Editing Software, Video Editing Software, Audio-Visual Editing Software, Live Streaming Software
2) By Services: Installation Services, Maintenance And Support Services, Consulting Services, Training Services
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What regions are leading the charge in the audio and video editing software market?
North America was the largest region in the audio and video editing software market in 2024. The regions covered in the audio and video editing software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What companies are at the forefront of innovation in the audio and video editing software market?
Major companies operating in the audio and video editing software market report are Apple Inc., Microsoft Corporation, Sony Corporation, Adobe Inc., Autodesk Inc., Zynga Inc., Grass Valley LLC, Nemetschek Group, Avid Technology Inc., Blackmagic Design Pty Ltd., Acronis International GmbH, Wondershare Technology Group Co. Ltd., Corel Corporation - Alludo, MAGIX Software GmbH, TechSmith Corporation, Movavi Software Limited, CyberLink Corporation, Steinberg Media Technologies GmbH, Animoto Inc., Sonic FoundryInc., iZotope Inc., Topaz Labs, Nero AG, BandLab Technologies, Boris FX Inc.
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What Is Covered In The Audio And Video Editing Software Global Market Report?
• Market Size Forecast: Examine the audio and video editing software market size across key regions, countries, product categories, and applications.
• Segmentation Insights: Identify and classify subsegments within the audio and video editing software market for a structured understanding.
• Key Players Overview: Analyze major players in the audio and video editing software market, including their market value, share, and competitive positioning.
• Growth Trends Exploration: Assess individual growth patterns and future opportunities in the audio and video editing software market.
• Segment Contributions: Evaluate how different segments drive overall growth in the audio and video editing software market.
• Growth Factors: Highlight key drivers and opportunities influencing the expansion of the audio and video editing software market.
• Industry Challenges: Identify potential risks and obstacles affecting the audio and video editing software market.
• Competitive Landscape: Review strategic developments in the audio and video editing software market, including expansions, agreements, and new product launches.
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