The global audio video editing software market is currently valued at more than USD 3,208 million and is expected to surpass USD 4,770 million by 2021, says Technavio.
Technavio has announced its latest market research report on the global audio and video editing software market, under its enterprise application portfolio. This market analysis discusses the major drivers and key emerging trends and offers an analysis of key vendors like Adobe Systems, Apple, and Avid.
According to Ishmeet Kaur, a lead analyst for enterprise application research at Technavio, “Price reduction of audio and video editing software is propelling its adoption in the global market. Prominent vendors such as Adobe Systems, Apple, and Avid have already made their editing software available in the market at reduced prices. ”
The trend of making the software affordable for smaller companies, production houses, and individuals was first initiated in 2011 by Apple. The company reduced the price of Final Cut Pro to USD300 from USD1,000 in 2011. Similarly, Adobe Systems has started providing editing software on a SaaS-based model that uses Adobe Creative Cloud. The company has adopted a different pricing strategy based on plan validity to lower the cost of this product.
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Increased use of online cloud editing software
The adoption of online cloud editing software is on the rise on a global scale. Companies such as WeVideo, Animoto, Shotclip, Loopster, and Forbidden Technologies provide editing software online. Companies have different payment policies for the software. Some vendors also provide cloud storage space at an additional cost.
Rise in the use of editing software for mobile devices
Vendors are providing video and audio editing software for mobile devices such as smartphones and tablets to leverage the rapidly increasing penetration of such mobile devices. The increasing processing power of mobile devices is one of the most important reasons for this initiative. For instance, Samsung’s Galaxy S7 smartphone has a Snapdragon 820 chipset by Qualcomm with 4GB of RAM. The Snapdragon 820 chipset includes a 64-bit quad-core CPU and a highly-advanced Adreno 530 GPU. It has more clock speed than the Intel Core i3 4005U processor which is used in a desktop.
This research report includes an in-depth analysis and market shares and sizes of the sub-segments and geography. An analysis of the key companies, including their market shares, business overview, key financials, etc. is provided in this study. This market study also provides a detailed analysis of key drivers, challenges, and opportunities influencing this market.
A more detailed analysis is available in the Technavio report titled, ‘Global Audio Video Editing Software Market 2017-2021’. Technavio also customizes reports by other regions and specific segments upon request.
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