Asia Pacfic Photo Editing Software Market
Published On: Aug 2020
Published On: Aug 2020
Windows Segment to Dominate APAC Photo editing software Market during 2020–2027
According to a new market research study on “Asia Pacific Photo Editing Software Market Forecast to 2027 – COVID-19 Impact and Analysis by Type, Platform, End User and Country,” is expected to reach US$ 414.8 million by 2027 from US$ 223.9 million in 2019. The market is estimated to grow at a CAGR of 8.1% from 2020 to 2027. The report provides trends prevailing in the APAC photo editing software market along with the drivers and restraints pertaining to the market growth. The APAC region consists of China, India, Japan, South Korea, Australia, and rest of APAC. The boosting economy of the region has led to the rise in the disposable income of individuals, which has resulted in the rise in the sales of high-end products, including smartphones and advanced cameras, in the past few years. Besides, due to better internet infrastructure within the Asian territory, the use of the mentioned gadgets has increased. China, Indonesia, India, and Japan are emerging markets with a large number of smartphone users. Thus, the rise in smartphone penetration provides significant growth impetus to the photo editing software market in APAC. The region is becoming a hub for numerous smartphone manufacturers that would also contribute to the progressing business of photo editing software companies over the next few years. Presently, smartphone cameras can scan 3D objects with the help of sensors, which is allowing the growing adoption of AR technology in the photo editing procedure. The AR technology enables to incorporate the real-world environment with digital images, thus transforming an ordinary photograph into an AR creation. Professionals and hobbyists are progressively opting for the photo editing platforms with the AR technology to add realistic effects.
APAC comprises a significant population size of youths, who are more interested in adopting technologically advanced and innovative smartphones and cameras, among other devices. They are highly active on social media platforms such as Instagram and Snapchat, and a large number of individuals are aspiring to become professional photographers. The smartphone and camera manufacturers find tremendous opportunities to boost their revenues by meeting the emerging requirement of the young generation. The integration of virtual reality (VR) technology together with an intelligent computational algorithm for making images more attractive is accelerating the photo editing software market in APAC. The VR technology has made it possible for the end user to take wide-angle photos of complete scenes in a single picture, and it allows users to edit a 360° image. With the help of this innovative technology, one can make slideshows, add text and stickers, and use filters or make adjustments.
Object AI, a Hong Kong-based company, offers photo editor software that makes it swift and easy to remove backgrounds from the photos. The company integrates the AI technology with the photo editing software, which automatically detects the subject of the photo by applying innovative computer vision algorithms, and eradicates the background around it. Thus, the presence of companies providing technologically advanced photo editing software fuels the growth of this market in APAC.
As per latest WHO situation report dated 22nd July 2020, the overall COVID-19 confirmed cases in the APAC crossed 1.78 million with more than 43,000 deaths. Presently, India, China, Bangladesh, Indonesia, Philippines, and Singapore are some of the worst affected countries due to COVID-19 outbreak in the region. The governments and companies in the region have implemented various restrictions on movement of people. However, with the nature of photo editing work, which can be done from any remote location. The COVID-19 outbreak is not anticipated to affect the growth of photo editing software market, alternatively with more people investing in acquiring photo editing skills while working from home will result in a positive impact on market growth.
The Report Segments the APAC Photo Editing Software Market as Follows:
Photo Editing Software Market– By Type
Photo Editing Software Market– By Platform
Photo Editing Software Market– By End User
Photo editing software Market – By Country
E 1803, Panchshil Towers, Vagholi, Haveli, Pune- 412207, Maharashtra, India
US:+16467917070
sales@businessmarketinsights.com
