Report : South America 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 3.3% CAGR, the South America Audio and Video Editing Software Market is speculated 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.
- Based on component, the South America audio and video editing software market is bifurcated into software and services. The software segment held 86.8%market share in 2022, amassing US$ 116.75 million. It is projected to garner US$ 139.52 million by 2028 to expand at 3.0% CAGR during 2022–2028. The software segment is further sub segmented into audio editing software and video editing software.
- Based on deployment, the South America audio and video editing software market is bifurcated into on-premise and cloud. The on-premise segment held 73.1%market share in 2022, amassing US$ 98.36 million. It is projected to garner US$ 116.07 million by 2028 to expand at 2.8% CAGR during 2022–2028.
- Based on end user, the South America audio and video editing software market is bifurcated into personal and commercial. The commercial segment held 80.7% market share in 2022, amassing US$ 108.50 million. It is projected to garner US$ 129.81 million by 2028 to expand at 3.0% CAGR during 2022–2028.
- Based on country, the South America audio and video editing software market has been categorized into Brazil, Argentina, and rest of SAM. Our regional analysis states that Brazil captured 59.0% market share in 2022. It was assessed at US$ 79.32 million in 2022 and is likely to hit US$ 97.97 million by 2028, exhibiting a CAGR of 3.6% during the forecast period.
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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