Audio and Video Editing Software Market
Audio and Video Editing Software Market Analysis, By Component (Solutions, Services), By Deployment (On-premise, Cloud), By End Use (Commercial, Personal), & Region - Global Market Insights 2023 to 2033
Analysis of Audio and Video Editing Software Market Covering 30+ Countries Including Analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
Audio and Video Editing Software Market Outlook (2023–2033)
The global audio and video editing software market is estimated to advance at a CAGR of 7.1% and touch a valuation of US$ 8 billion by 2033, up from US$ 4 billion in 2023.
Audio editing software is utilized to edit and create audio files. Audio editors and engineers use this software to mix and eliminate sound parts, edit and reorganize audio, and record and produce new audio components. Audio editing tools also include various effects for manipulating audio files' sound in several ways.
Audio editing software generally supports a variety of file formats, including WAVE, MP3s, MPEG-4, and Windows Media. The software is predominantly used by music producers and audio engineers, such as editors, mixers, and sound designers, to create songs, television shows, and films. This edited audio is frequently used with video editing software and the video production team.
Video editing software assists in editing, modifying, generating, and manipulating a video or movie. Using video editing software, the user can remove sections, chop and arrange the video to improve the flow, and add effects to enhance their video.
The streaming industry benefited from work-from-home and lockdown limitations during the COVID-19 pandemic. Consumers turned to media streaming services to spend more time relaxing at home.
- As per a PWC analysis, viewers' streaming time increased by 75% in 2020. According to the same study, the number of subscriptions in the United States climbed to an astounding 125 million, with a similar trend noted globally.
As a result, demand for new movies, shows, live news, on-demand video games, and other forms of entertainment has been increasing.
Companies manufacturing audio and video editing software took advantage of this opportunity by providing free trials of their products so that users could obtain hands-on expertise with the software and increase conversions.
- For example, Apple offered a free 90-day trial of its professional-grade music production and video editing software, Logic Pro X and Final Cut Pro X.
Market players extended their free trial period offerings as the COVID-19-induced lockdown increased the influx of emerging YouTubers, online entrepreneurs, and social media influencers to create online content.
Virtual reality technology is changing in numerous ways. The usage of virtual reality technology in video content for a variety of purposes, such as 360-degree videos, animation, and marketing, is boosting the demand for audio and video editing software substantially. Moreover, growing interest in viewing animated content/ movies in virtual reality is predicted to establish a foundation for the expansion of the audio and video editing software industry over the next ten years.
Market Size in 2023
US$ 4 Billion
Projected Market Value (2033)
US$ 8 Billion
Global Market Growth Rate (2023–2033)
United States Market Value (2022)
US$ 1.1 Billion
Cloud Segment Growth Rate (2023–2033)
Key Companies Profiled
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Why is Audio and Video Editing Software Gaining Steam?
“High Demand for Animated Content in Education Sector”
Increased demand for animated content in the education sector is driving the market for audio and video editing software. The increasing use of audio and video editing software in e-learning platforms to provide a visual representation for learning is bolstering market growth.
Due to the consequences of the COVID-19 pandemic, the trend of remote schooling is also boosting the implementation of animations to promote students learning, fueling the sales growth of audio and video editing software among educational content production companies.
As online learning platforms such as Udemy, Coursera, and edX, gain popularity, animated movies and motion graphic content are being increasingly utilized, raising the demand for audio and video editing software. The primary goal of animated content is to make learning more practical, lowering the time and effort required. With 3D animation, teaching and learning can also become faster and more enjoyable. Therefore, increased demand for animated content in education is expected to fuel the demand for audio and video editing software during the projected period.
“Rapid Growth of Streaming Media”
Increasing demand for high-quality entertainment has resulted in a considerable increase in small audio and video editing studios in recent years. Big studios are engaged in large-scale projects (billion-dollar budget movies). In contrast, the increased demand for streaming media such as Netflix, Amazon, and YouTube has boosted smaller studios. The massive influx of content (small-budget movies, mobile content, mobile games, etc.) via streaming platforms is a major driver of today's thriving audio and video editing software business.
People with access to high-speed internet and low-cost mobile devices expect the same visual experience from streaming media as traditional movies and television series. To meet such demand, streaming service companies are actively producing content with considerable use of special effects, which ultimately raises the use of audio and video editing software.
“Escalating Demand for Special Effects in Entertainment Industry”
Special effects are the simplest approach to creating a make-believe effect. Visual effects create a realistic-looking environment that would be impractical, risky, costly, or probably impossible to capture during a shoot. The incorporation of special effects has created a new world of entertainment.
Furthermore, special effects created with editing software have revolutionized viewers' visual experience to the point where viewers expect such rich experiences in everything they watch. The rising demand for visually rich entertainment and the massive success linked with such projects is boosting the demand for audio and video editing software.
Why Does the United States Have Such a Stronghold on the North American Market?
“Booming Media & Entertainment and Music Industry in the United States”
The United States is a leading market for audio and video editing software in North America. The United States market was valued at US$ 1.1 billion in 2022.
- As per the international trade association report, the country has the world's biggest media and entertainment industry, which was worth US$ 650 billion in 2021.
Media and entertainment players widely use audio and video editing software to create and provide additional digital products and services for television shows, motion pictures, broadcast content, music, commercials, broadcasting, and video and audio recordings, among other things.
Moreover, the United States boasts the world's biggest music industry, and the country's music industry is growing year after year.
- As per a Matching Engine analysis, music recording business income in the United States alone reached US$ 7 billion in 2020, representing a phenomenal 7.3% year-over-year growth.
Canada is following the United States in terms of growth. With hundreds of television shows, animated films, and advertisements produced each year, Canada's animation and visual effects industry is flourishing. The country is home to the world's biggest animation studio, 9 Story Media Group, in Toronto, and the world's fourth-largest visual effects studio, in Montreal.
Furthermore, Canada provides appealing tax and financial benefits to filmmakers and animators. It is home to a plethora of world-class animation and film studios, as well as thousands more businesses that make extensive use of audio and video editing software.
How are the United Kingdom and Germany Shaping the European Market?
“Increasing Preference for OTT Platforms”
The European market is expanding at a rapid pace. The United Kingdom and Germany are pushing the market growth in Europe. The filmmakers in these countries are increasingly utilizing audio and video editing tools.
Furthermore, the growing preference for OTT platforms, as well as the rapid adoption of smartphones and other electronic devices, are contributing to the market growth in the United Kingdom and Germany. When both linear TV and OTT are available in the home, OTT content accounts for approximately 45% of TV viewing time in the United Kingdom and Germany.
Which Countries are Driving Market Growth in Asia Pacific?
“South Korea and Japan to lead Asia Pacific Market Growth”
Asia Pacific is predicted to witness considerable growth during the forecast period. This is due to factors such as increasing digital content acceptance, expanding penetration of high-speed internet and smartphones, high video content production on OTT platforms, and rising video-on-demand usage.
South Korea and Japan are promoting market expansion in Asia Pacific due to the rapid rise of social media streaming, increased usage of cloud-based video editing software, and the steadily expanding media and entertainment industry in these countries.
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Why is Cloud-based Audio and Video Editing Software Extensively Used?
“Numerous Benefits of Cloud-based Audio and Video Editing Software”
Demand for cloud-based audio and video editing software is anticipated to swell at a CAGR of 5.8% during the forecast period. Cloud-based audio and video editing software are extremely fast and dependable and can be edited anywhere to provide high-quality videos.
Furthermore, the growing popularity of cloud-based audio and video editing software is related to advantages such as easy access to video content for the easy creation of clips that can be published instantly with high-quality internet services.
Moreover, many market players are incorporating new and advanced capabilities in existing audio and video editing software.
- For example, in August 2022, VideoVerse, which provides a cloud-based, user-friendly video editing application, revealed the expansion of its advanced services with the beta release of illusto, which allows novices, professionals, and artists to make their impactful stories more real, as well as edit videos by integrating special effects, cuts, and transitions.
Cloud-based audio and video editing software provide a variety of features to end users, including safe sharing, simple import, storage, and editor collaboration. Cloud-based audio and video editing software also enable users to modify music or audio from anywhere in the world. These advantages of cloud-based audio and video editing software will increase end-users, resulting in market growth.
The worldwide audio and video editing software market is fragmented and extremely competitive, with various players competing on global and regional levels. To expand their market reach, key players in the audio and video editing software market are investing in portfolio development, strategic alliances, and R&D. Moreover, certain efforts taken by start-ups are also making a significant influence, and they are projected to gradually develop a stable market position in the coming future.
New Developments in the Market :
- Apple introduced a new edition of iMovie on April 12, 2022, with improvements that make it easier to create superb edited videos for iPad and iPhone, as well as pre-made templates for typical sorts of videos posted on social media. This software can edit videos such as cooking tutorials, DIYs, science experiments, product reviews, and others. Storyboards help prospective filmmakers and content creators learn to edit and improve their video storytelling abilities.
- CyberLink released PowerDVD 22, an improved version of its award-winning movie and media playback software that enables consumers to have an immersive experience with music, movies, and YouTube, in March 2022.
- TechSmith Corporation collaborated with Panopto, a prominent provider of video management systems for higher education and major organizations, in August 2021.
This new market report by Fact.MR details the pricing trends, product standards, and more valuable insights related to the market for audio-video software and solutions.
Key Segments of Audio and Video Editing Software Industry Research
By Component :
By Deployment :
By End Use :
By Region :
- North America
- Latin America
- FAQs -
The global audio and video editing software market is worth US$ 4 billion in 2023.
Global sales of audio and video editing software are expected to reach US$ 8 billion by 2033.
The market for audio and video editing software is anticipated to progress at a CAGR of 7.1% during the forecast period (2023 to 2033).
Demand for cloud-based audio and video editing software is predicted to increase at a CAGR of 5.8% through 2033.
The United States market was worth US$ 1.1 billion in 2022.
Acon AS, Apple, Inc, Adobe, Inc, Avid Technology, Inc, ArcSoft, Inc, Animoto Inc, Autodesk, Inc, Corel Corporation, Microsoft Corp, and Sony Corporation are key audio and video editing software providers.