Report : Asia Pacific Audio and Video Editing Software Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by Component [Software (Audio Editing Software and Video Editing Software) and Services], Deployment (On-premise and Cloud), and End User (Personal and Commercial)
At 7.1% CAGR, the Asia Pacific Audio and Video Editing Software Market is speculated to be worth US$ 1,819.13 million by 2028, says Business Market Insights
According to the Insight Partners’ research, the Asia Pacific audio and video editing software market was valued at US$ 1,208.56 million in 2022 and is expected to reach US$ 1,819.13million by 2028, registering an annual growth rate of 7.1% from 2022 to 2028.Integration of virtual reality (vr) technology and rising demand for animated content in education sectorare the critical factors attributed to the market expansion.
Virtual reality technology is evolving in a variety of ways. The use of virtual reality technology in the video content for various applications such as marketing, animation, and 360-degree videos significantly increases the demand for audio and video editing software. Virtual reality technologies have advanced significantly due to advancements in computer technology and societal requirements. Introducing virtual reality might enhance the global video creation/production industry. On the other hand, increased interest in viewing animated movies/content in virtual reality is expected to set the tone for the market's lucrative expansion.Furthermore, huge investments are being made in this technology, used in gaming, advertising, and home entertainment. Content creators are using VR technology to produce similar effects. The video/content editors are witnessing a rise in demand due to increased work on more complicated visual effects and creating more engaging virtual environments. Both visual effects and virtual reality are primarily concerned with developing a new environment that may astonish spectators. Studios are updating/modifying their tools to create virtual production—a significant asset of virtual reality—using real-time graphics, motion capture, facial capture, and camera tracking techniques. Virtual reality is becoming increasingly important to most visual effects firms.Moreover, the recent swift popularity of various advanced video recording devices, such as AR, VR, mixed reality, and 360-degree, is expected to revolutionize traditional video recording and improve video editing techniques in the coming years. Thus, integrating AR/VR and other technologically improved video editing content is projected to widen the commercial scope of video editing software applications into those technologies and provide additional business opportunities for market players during the forecast period.
On the contrary, availability of open-source audio and video editing software hurdles the growth of Asia Pacific audio and video editing software market.
- Based on component, the Asia Pacific audio and video editing software market is bifurcated into software and services .The software segment held 82.4% market share in 2022, amassing US$ 996.04 million. It is projected to garner US$ 1,456.03 million by 2028 to expand at 6.5% CAGR during 2022–2028. The software segment is further sub segmented into audio editing software and video editing software.
- Based on deployment, the Asia Pacific audio and video editing software market is bifurcated into into on-premise and cloud. The on-premise segment held 70.5% market share in 2022, amassing US$ 851.91 million. It is projected to garner US$ 1,235.68 million by 2028 to expand at 6.4% CAGR during 2022–2028.
- Based on end user, the Asia Pacific audio and video editing software market is bifurcated into personal and commercial. The commercial segment held 77.1%market share in 2022, amassing US$ 932.01 million. It is projected to garner US$ 1,378.31 million by 2028 to expand at 6.7% CAGR during 2022–2028.
- Based on country, the Asia Pacific audio and video editing software market has been categorized into China,Japan,India,Australia,South Korea,and rest of Asia Pacific. Our regional analysis states that China captured 28.5% market share in 2022. It was assessed at US$ 344.92 million in 2022 and is likely to hit US$ 527.18 million by 2028, exhibiting a CAGR of 7.3% during the forecast period.
Key players dominating the Asia Pacific audio and video editing software market are Adobe; Apple Inc; Avid Technology,Inc; Movavi Software Limited; Steinberg Media Technologies GmnH; Ableton; Animoto Inc;Autodesk Inc; LONGTAIL ad Solution,Inc(JW Player); MAGIX Software GmbH; Native Instuments; Serato; Sony Corporation; Splice.Com; TechSmith Corporation; TRACKLIB; and Wondershare Technology Co.,Ltd among others.
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