
Published On: Jan 2022
Published On: Jan 2022
At 3.3% CAGR, the South America Audio and Video Editing Software Market is projected to be worth US$ 163.34 million by 2028, says Business Market Insights
According to the Insight Partners’ research, the South America audio and video editing software market was valued at US$ 134.51 million in 2022 and is expected to reach US$ 163.34 million by 2028, registering an annual growth rate of 3.3% from 2022 to 2028. Rising demand for animated content in education sector and integration of virtual reality (vr) technology are the critical factors attributed to the market expansion.
The growing need for animated content in education and academia is boosting the market. As a result, the growing use of audio and video editing software in e-learning platforms to enable visual representation for learning is propelling the market. The trend of remote schooling, resulting from the effects of the COVID-19 pandemic, is also increasing the deployment of animations to improve student comprehension, fuelling the expansion of video editing software among the education content creation companies. Furthermore, the growing need for low-cost animation raises the demand for whiteboard animation, strengthening market development. The rising usage of 3D animation in professional training contributes to market expansion. Traditionally, animation needed specialized labor-intensive processes that were both time-consuming and expensive; however, today's video editing solutions allow users to create content without substantial knowledge. Teachers are no longer constrained to static pictures; they may easily transform instructional modules into instructive animations using audio and video editing software. As online learning platforms, such as Coursera, edX, and Udemy, become more popular, motion graphic content and animated movies are being used, pushing solid industry expansion. Using animated content in e-learning to accurately teach a topic in applications, such as medical training, catalyzes business growth. Learning and teaching may become faster and more fun with 3D animation. The basic purpose of animated content is to make learning more task-oriented and practical, reducing the time and effort students must engage in it. Thus, the rising demand for animated content in education is expected to drive the demand for audio and video editing software during the forecast period.
On the contrary, availability of open-source audio and video editing software hurdles the growth of South America audio and video editing software market.
Key players dominating the South America 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; Serato; Sony Corporation; Splice.Com; TechSmith Corporation; and TRACKLIB among others.
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