Europe Video Editing Software Market Forecast to 2027 - COVID-19 Impact and Regional Analysis by Type, and Application

According to a new market research study on “Europe Video Editing Software Market to 2027 - COVID-19 Impact and Regional Analysis and Forecast by Type and Application” is expected to reach US$ 673.51 million by 2027 from US$ 441.19 million in 2019. The market is estimated to grow at a CAGR of 5.5% from 2020 to 2027. The report provides trends prevailing in the Europe video editing software market along with the drivers and restraints pertaining to the market growth. Comprehensive advantages of video editing software and its functional necessity is the major factor driving the growth of the Europe video editing software market. However, issues associated with free video editing software availability hinders the growth of Europe video editing software market.

The Europe video editing software market is segmented into type, application and country. Based on type, the Europe video editing software market is bifurcated into on-premises and cloud-based On-premises held the larger market share in 2019. On basis of application the market is further segmented into commercial and personal. Commercial segment held a substantial market share throughout the forecast period.

Also the ongoing COVID-19 is impacting the Europe region very badly. Spain, Italy, Germany, UK, and France are some of the worst affected member states in the European region. Businesses in the region are facing severe economic difficulties as they had either to suspend their operations or reduce their activities in a substantial manner. Although, during the COVID-19 pandemic, the industry witnessed a downfall, owing to which the government announced several plans for supporting independent production. For example, the BBC announced a plan to support the independent production sector in the UK. The country’s ITV announced a US$ 615,000 development fund intended to accelerate the discovery of innovative ideas and content for the channel to broadcast in late 2020 and 2021. The French government also announced measures such as tax suspension, subsidies, solidary fund, and early repayment of tax credits, among others. Other countries in the EU, including Germany, Hungary, Italy, and Poland, have also announced several plans to support the film industry's growth during the COVID-19 epidemic. Such factors are expected to moderate the impact of COVID-19 on the EU film industry, thus creating a demand for video editing software. The numerous countries in the overall region generated moderate additional new demand to limited demand owing to considerably weak business activities in light of the pandemic across different European countries. However, the strong presence of leading customer across major economies have witnessed limited impact over the European market.

Adobe Inc.; Apple Inc.; Autodesk Inc.; Avid Technology, Inc.; Bending Spoons S.p. A.; Corel Corporation; CyberLink Corp.; FXhome Limited; Lightricks Ltd; KineMaster Corporation; PIXICO are among the leading companies in the Europe video editing software market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2020, Animoto Inc. announced that they joined Twitter’s list of certified partners. The Twitter official partner program is designed to help businesses to achieve better results. Animoto joined and help businesses succeed on Twitter by using the power of video.

The report segments the Europe Video Editing Software Market as follows:

Europe Video Editing Software Market - By Type

• On-Premises
• Cloud-Based

Europe Video Editing Software Market - By Application

• Commercial
• Personal

Europe Video Editing Software Market - By Country

• France
• Germany
• Italy
• Russia
• UK
• Rest of Europe

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