Report : Middle East & Africa 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 4.0% CAGR, the Middle East & Africa Audio and Video Editing Software Market is speculated to be worth US$ 252.77 million by 2028, says Business Market Insights
According to the Insight Partners’ research, the Middle East & Africa audio and video editing software market was valued at US$ 199.40 million in 2022 and is expected to reach US$ 252.77 million by 2028, registering an annual growth rate of 4.0% from 2022 to 2028.Rising adoption of visual effects (vfx) in entertainment industry and versatile benefits of video editing software and functional requirements are the critical factors attributed to the market expansion.
Technology advancement has boosted visual effects (VFX) in big-budget and independent films. With VFX technology in film and television, video games, and marketing, the industry has revolutionized to a new level. Over the last few decades, visual effects (VFX) have radically changed the media and entertainment industries. VFX was first employed in movies, but the television business has now adopted it to enrich the plot and creative vision and transmit the intended notion to viewers. Many filmmakers seek high-quality movies with engaging visual effects and realistic animations in response to worldwide consumers' demand for engaging high-definition visual experiences. Several studios are currently integrating more animation and VFX shots to meet filmmakers' requirements. In this case, audio and video editing software are essential for depicting the needed scene, which must seem realistic. VFX, like animation, is a broad term that refers to producing visual effects using the camera mapping approach. Still, photos are acquired and processed using various video editing tools, which necessitates audio and video editing software. Furthermore, the VFX method acceptance rate is quickly increasing, creating new professional opportunities for animators and visual effect artists. This gives a lot of impetus to the employment of audio and video editing techniques in the entertainment business, driving the overall growth of the MEA audio and video editing software market.
On the contrary, availability of open-source audio and video editing software hurdles the growth of Middle East & Africa audio and video editing software market.
- Based on component, the Middle East & Africa audio and video editing software market is bifurcated into software and services. The software segment held 87.3%market share in 2022, amassing US$ 174.07 million. It is projected to garner US$ 216.98 million by 2028 to expand at 3.7% CAGR during 2022–2028. The software segment is further sub segmented into audio editing software and video editing software.
- Based on deployment, the Middle East & Africa audio and video editing software market is bifurcated into on-premise and cloud. The on-premise segment held 74.1%market share in 2022, amassing US$ 147.73 million. It is projected to garner US$ 181.89 million by 2028 to expand at 3.5% CAGR during 2022–2028.
- Based on end user, the Middle East & Africa audio and video editing software market is bifurcated into personal and commercial. The commercial segment held 82.7% market share in 2022, amassing US$ 164.91 million. It is projected to garner US$ 206.91 million by 2028 to expand at 3.9% CAGR during 2022–2028.
- Based on country, the Middle East & Africa audio and video editing software market has been categorized into Saudi Arabia, UAE, South Africa, and rest of MEA. Our regional analysis states that Saudi Arabia captured 41.1% market share in 2022. It was assessed at US$ 82.03 million in 2022 and is likely to hit US$ 100.30 million by 2028, exhibiting a CAGR of 3.4% during the forecast period.
Key players dominating the Middle East & Africa 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; MAGIX Software GmbH; Native Instuments; Serato; Sony Corporation; Splice.Com; TechSmith Corporation; and TRACKLIB among others.
A few key market development by top players are as follows:
- Feb-2021, TechSmith Corporation has partnered with Panopto, a leading provider of video management systems for higher education and large enterprises. Through this partnership, the two companies aim to provide students, educators, and employees with a powerful solution for creating, securing, and distributing video information within universities and businesses. The partnership makes it easy for users to take advantage of TechSmith's best video editing tools and easy-to-use screen capture with Panopto's industry-leading enterprise video management system. Additionally, TechSmith is ending its Knowmia Enterprise offering and recommends Panopto as the preferred migration platform.
- 2020, Animoto Inc. is officially launching Animoto 3 on August 24, 2020. Animoto 3 gives the flexibility to create attention-grabbing videos, easily and quickly.
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