North America Video Editing Software Market to Grow at a CAGR of 4.9% to reach US$ 923.41 Million from 2020 to 2027

The video editing software market in North America is expected to grow from US$ 635.58 million in 2019 to US$ 923.41 million by 2027; it is estimated to grow at a CAGR of 4.9% from 2020 to 2027.

The US, Canada, and Mexico are major economies in North America. Growing craze of online video content at various social media platforms is raising the demand of video editing software and this is driving the North America video editing software market in a positive way. The recent considerable rise in popularity of various social media platforms and subsequently transition of several marketing and advertisement spending converging on these platforms gained unprecedented traction especially in the past few years. .Furthermore, the rising trend of social media influencer 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 creating a continuous demand for improved as well as quality video content has subsequently facilitated the penetration of professional video editing solution and software application among the growing end-user base and thus anticipated to power the growth of the video editing software market in North America. In addition to this, several market players operating in the North America Video Editing Software market have launched numerous smartphone specific software application targeted for these fast growing customer base with customized dashboard for swift video editing solutions. Hence, the rise in popularity of online video content based customer base such as content sellers, advertisers, influencers and others are projected to provide numerous lucrative growth opportunities for the market players during the coming years, which is further expected to create a significant demand for video editing software in the coming years, which would ultimately drive the market in North America. Further, the ongoing COVID-19 is having a very devastating impact over the North America region. Presently, the US is the world’s worst-affected country due to the COVID-19 outbreak. North America is one of the most important regions for the adoption and growth of new technologies owing to favorable government policies to boost innovation, the presence of a huge industrial base, and high purchasing power, especially in developed countries such as the US and Canada. Hence, any impact on the growth of industries is expected to affect the economic growth of the region in a negative manner. The US is a prominent market for video editing, especially in the commercial sector. The huge increase in the number of confirmed cases and falling GDP in the country has affected these industries. The companies and business shutdowns across the US, Canada, and Mexico are impacting the adoption of the video editing software market. The swift decline in revenue owing to virtual non-existent demand from media and production houses has limited their spending on procurement of additional technologies altogether across the North America region. North America region is home to a large number of technology companies, and thus the impact of coronavirus outbreak is anticipated to be quite severe in the year 2020 and likely in 2021. However, the impact of COVID-19 is short-term and is likely to decrease by 2022.

With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the North America video editing software market. The North America video editing software market is expected to grow at a good CAGR during the forecast period.

North America Video Editing Software Market Segmentation

North America Video Editing Software Market – By Type

• On-Premises
• Cloud-Based

North America Video Editing Software Market – By Application

• Commercial
• Personal

North America Video Editing Software Market, by Country

• US
• Canada
• Mexico

North America Video Editing Software Market - Companies Mentioned

• Adobe Inc.
• Animoto Inc.
• Apple Inc.
• Autodesk Inc.
• Avid Technology, Inc.
• Corel Corporation
• CyberLink Corp.
• InShot Inc.
• Kapwing Inc.
• KineMaster Corporation
• NCH SOFTWARE
• Placeit (Envato Pty Ltd.)
• Vimeo, Inc.
• Wondershare Technology Co., Ltd. 

North America Video Editing Software Report Scope