Video Editing Software Market Growth to Hit 5.9% CAGR, Globally, by 2027 - Exclusive Report by The Insight Partners

The global video editing software market share worth $3.04 billion by 2027, at a growing CAGR of 5.9% from 2020 to 2027.

Pune, India, Nov. 08, 2023 (GLOBE NEWSWIRE) -- According to a new report on “Video Editing Software Market Size and Forecast (2020–2027), Global and Regional Share, Trends, and Growth Opportunity Analysis – by Type (On-Premise and Cloud) and Application (Commercial and Personal), and Geography” the market in terms of revenue was estimated to be worth $1.94 billion in 2019 and is poised to reach $3.04 billion by 2027, growing at a CAGR of 5.9% from 2020 to 2027.

The growth of the video editing software market is driven by surge in demand due to popularity of online video content across social media platforms and versatile benefits of video editing software and functional requirement. However, technologically improved capabilities and features into video editing software market.

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Global Video Editing Software Market Scope:

Report CoverageDetails
Market Size Value inUS$ 1.94 billion in 2019
Market Size Value byUS$ 3.04 billion by 2027
Growth rateCAGR of 5.9% from 2020 to 2027
Forecast Period2020-2027
Base Year2019
Segments coveredType, Application, and Geography
Regional scopeNorth America; Europe; Asia Pacific; Latin America; MEA
Country scopeUS, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina
Report coverageRevenue forecast, company ranking, competitive landscape, growth factors, and trends

Popularity of Online Video Content Across Social Media Platforms to Propel Global Video Editing Software Market Growth:

The recent considerable rise in popularity of various social media platforms and subsequent transition of several marketing and advertisement spending converging on these platforms gained unprecedent traction. Furthermore, the rising trend of social media influencers and professional video bloggers, along with notable rise in number of online video content-based sellers, collectively have powered the growth of creative video content. As a result, the continuous demand for improved video content has subsequently facilitated the penetration of professional video editing solution and software application among the growing end user base. In addition, several market players operating in the market have launched numerous smartphone-specific software applications targeting a fast-growing customer base with customized dashboards for swift video editing solutions. Hence, the rise in popularity of online video content-based customer base such as content sellers, advertisers, and influencers are projected to provide lucrative growth opportunities for the market players during the coming years. 

Several advancements and the integration of advanced technologies in the broadcast and media sector have improved video quality. The video editing application now utilizes the powerful capabilities of advanced and sophisticated video editing software. As a result, the market comprises a broad range of software packages for video editing applications for both commercial and personal use. The products offered by several prominent market players feature powerful rendering tools, flexible tools, customized add-ons, and plug-ins. Currently, factors such as a considerably large customer base across media & broadcast industries and the rising demand for video content development are collectively fueling the growth of the overall video editing software market. Furthermore, the recent emergence of social media influencers across Instagram, YouTube, and other platforms has propelled the demand for improved video content, driving professional video editing solutions. Thus, the market is poised to provide numerous profitable business opportunities for market players in the coming years.

Global Video Editing Software Market: Type Overview

The global video editing software market, based on type, is segmented into on-premise and cloud-based. The on-premise segment held a larger market share in 2019. An on-premise deployment allows complete control over the entire software. The accountability for data security remains with the customer, and the in-house IT department or the individual assures requirements. Handling on-premise solutions is complicated for the user owing to the deficiency of transparency of the on-premise infrastructure on the developer’s end. Despite the high initial cost required for on-premise deployment, several companies or individuals opt for this solution to secure respective or customer data.

Due to the surge in demand for on-premise software, several video editing software developers offer their products to use on-premise. This factor is catalyzing the video editing software market. At present, there is no full cloud video editing software available for professional video editing that supports features of desktop software in a browser UI, stores production files in the cloud, and allows a user to edit and collaborate in the cloud. Large media & entertainment companies use on-premise solutions, which is, in turn, driving the on-premise video editing software market.

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Global Video Editing Software Market: Competitive Landscape and Key Developments

Adobe, Inc.; Animoto Inc.; Apple Inc.; Autodesk, Inc.; Avid Technology, Inc.; Biteable Pty Ltd; Clideo (Softo Ltd.); Clipchamp Pty Ltd.; Corel Corporation; Cyberlink Corporation; Enlight Videoleap; and Flexclip (Pearlmountain Limited) are among the key players in the global video editing software market. The leading companies focus on expanding and diversifying their market presence and acquiring a new customer base, thereby tapping prevailing business opportunities.

Recent Developments:

  • In 2020, Wondershare announced a new strategic partnership with Pond5. Wondershare members will use Pond5 contents within Wondershare products for video creation.
  • In 2020: Avid declared it has renewed its cloud collaboration with Microsoft. Over the course of the new five-year strategic alliance agreement, Avid will continue to develop and deploy its cloud-based solutions on Microsoft Azure
  • In 2020: Vimeo, Inc. launched Vimeo create. Vimeo create is a tool that makes a professional-quality video in minutes for every small business. Vimeo create is an easy and fast solution for every marketer and business owner to grow their business with video. Vimeo create is available across the web, iOS, and Android mobile apps.
  • In 2019: CyberLink Corp. declared a new partnership with global news agency AFP, equipping the company’s journalists with the award-winning video editing software Power Director.

Go through further research published by The Insight Partners:

Audio and Video Editing Software Market - Global Analysis and Forecast to 2020

Design Editing and Rendering Software Market - Global Analysis and Forecast to 2030

Photo Editing Software Market - Global Analysis and Forecast to 2027

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