Audio editing software is used to edit and generate audio files. Audio editors and engineers use this software to mix and delete audio sections, edit and rearrange audio, and record and generate new audio components. Audio editing programs also offer various effects for the manipulation of the sound of audio files in different ways. Audio editing software mostly complies with different file types, including MP3s, WAVE, Windows Media, and MPEG-4. The software is mostly used by audio engineers and music producers, such as mixers, editors, and sound designers, to produce songs, films, and television shows. This edited audio is often used with video editing software and the video production team. Also, musicians, who are audio editing beginners, use the free audio editing software solutions for audio editing.
Video editing software is a software program that helps edit, modify, generate, and manipulate a video or movie. Using video editing software, the user can remove the sections, cut and arrange the video to give it a better flow, and add effects to enhance their video. In addition, professional video editing software is also used by professionals to add advanced visual effects, enhancing output and improving emotional impact.
It is also seen that the trend of free audio and video editing software is rising in the market. An unprecedented migration toward work-from-home mandates is raising the demand for audio and video editing software market. Audio and video editing software market players are increasing the availability of free tools to provide hands-on software experience to the users, leading to a rise in conversions. Additionally, it is also seen that there is a huge rise in the number of YouTubers, social media influencers, and online entrepreneurs. These users use editing software to upload their videos, which is the major factor driving the audio and video editing software market growth during the forecast period.
Due to social distancing measures, supply chain interruptions, and limited mobility of products and services, the COVID-19 pandemic hampered the deployment of audio and video editing software and services for a short period in the Asia Pacific. However, it pushed the demand for video streaming services, on the other hand.
Furthermore, during the pandemic, the number of startups in the region grew gradually. According to a report by Orios Venture Partners, Indian startups raised US$ 42 billion in 2021, up from US$ 11.5 billion in 2020. Studies claim that India witnessed the emergence of 46 unicorns in 2021 alone, with the total number of unicorns surpassing 90. The growing startup culture across the region is creating new opportunities for vendors in the audio and video editing software market, as not all companies and startups have the budget to hire a professional audio and video editing company for their marketing/promotional activities. Hence, COVID-19 positively influenced the Asia Pacific audio and video editing software market.
The growing need for animated content in education and academia is boosting the audio and video editing software 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 audio and video editing software market growth. 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 educational content creation companies.
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.
Based on component, the audio and video editing software market is bifurcated into software and services. The software segment accounted for a larger market share in 2021. Audio and video editing software allows users to edit audio and video using a computer or smartphone. The video editing software solution is used to edit video content, including television programming, commercials, and films.
In addition, professionals use this solution for broadcasting news, sports, reality television, and cinema; they gather, access, edit, and complete stories whenever and from wherever using cloud-based solutions. For instance, Adobe’s Adobe Premiere Pro video editing software helps create social clips to feature films with the leading video editor. Similarly, the audio editing software solution is used for audio production, which includes music and sound creation, recording, editing, signal processing, integrated surround mixing, and mastering reference video playback. The software segment is further sub-segmented into audio editing software and video editing software.
The regional trends and factors influencing the Audio and Video Editing Software Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Audio and Video Editing Software Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.
| Report Attribute | Details |
|---|---|
| Market size in 2022 | US$ 3.22 Billion |
| Market Size by 2028 | US$ 4.56 Billion |
| Global CAGR (2022 - 2028) | 6.0% |
| Historical Data | 2020-2021 |
| Forecast period | 2023-2028 |
| Segments Covered |
By Component
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The Audio and Video Editing Software Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.
Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.
Major Companies operating in the Audio and Video Editing Software Market are:
Disclaimer: The companies listed above are not ranked in any particular order.
Players operating in the audio and video editing software market are mainly focused on developing advanced and efficient products.
Some of key players profiled in the audio and video editing software market are Adobe; Apple Inc.; Avid Technology, Inc.; Lightworks; Movavi Software Limited; Steinberg Media Technologies GmbH; ABLETON; Animoto Inc.; Autodesk Inc.; JW PLAYER; MAGIX; NATIVE INSTRUMENTS; SERATO; Sony Corporation; SPLICE; TECHSMITH; THE PIXEL FARM; TRACKLIB; Wondershare Technology Co., Ltd.; and Output Inc.
The audio and video editing software market is expected to reach US$ 4,562.65 Mn by 2028.
The incremental growth, expected to be recorded for the audio and video editing software market during the forecast period, is US$ 1,472.41 million.
The on-premises segment led the audio and video editing software market with a significant share in 2021.
The US held the largest market share in 2021, followed by China.
APAC is anticipated to grow with the highest CAGR over the forecast period.
The country anticipated to grow with the highest CAGR are the US, France, India, South Africa and Brazil.
The key players, holding majority shares, in audio and video editing software market includes Apple Inc.; Adobe Inc.; TechSmith Corporation; Avid Technology; and Sony Group Corporation.
The proliferation of IoT and AI technologies is anticipated to play a significant role in the future in conducting audio and video editing software in the coming years.
The rising adoption of visual effects (VFX) in entertainment industry coupled with surge in demand due to popularity of online video content across social media platforms is anticipated to drive the market over the forecast period.
The global audio and video editing software market was estimated to be US$ 4,562.65 Mn million in 2021 and is expected to grow at a CAGR of 6.0% during the forecast period 2022 - 2028.