South America Audio and Video Editing Software Market Forecast to 2028 - COVID-19 Impact and Regional Analysis - by Component, Deployment, and End User

The audio and video editing software market in South America is expected to grow from US$ 134.51 million in 2022 to US$ 163.34 million by 2028. It is estimated to grow at a CAGR of 3.3% from 2022 to 2028.

Virtual reality technology is evolving in a variety of ways. The use of virtual reality technology in the video content for various applications such as marketing, animation, and 360-degree videos significantly increases the demand for audio and video editing software. Virtual reality technologies have advanced significantly due to advancements in computer technology and societal requirements. Introducing virtual reality might enhance the regional video creation/production industry. On the other hand, increased interest in viewing animated movies/content in virtual reality is expected to set the tone for the market's lucrative expansion.
Furthermore, huge investments are being made in this technology, used in gaming, advertising, and home entertainment. Content creators are using VR technology to produce similar effects. The video/content editors are witnessing a rise in demand due to increased work on more complicated visual effects and creating more engaging virtual environments. Both visual effects and virtual reality are primarily concerned with developing a new environment that may astonish spectators. Studios are updating/modifying their tools to create virtual production - a significant asset of virtual reality - using real-time graphics, motion capture, facial capture, and camera tracking techniques. Virtual reality is becoming increasingly important to most visual effects firms. Moreover, the recent swift popularity of various advanced video recording devices, such as AR, VR, mixed reality, and 360-degree, is expected to revolutionize traditional video recording and improve video editing techniques in the coming years. Thus, integrating AR/VR and other technologically improved video editing content is projected to widen the commercial scope of video editing software applications into those technologies and provide additional business opportunities for market players during the forecast period.

Market Overview

Brazil, Argentina, rest of South America are the key contributors to the audio and video editing software market in the South America. In South America, the audio-visual industry is experiencing a new boom. According to the Olsberg SPI report, in 2019, more than US$ 5.7 billion was invested in audio-visual production, proving the region's stronghold in the South America audio and video editing software market over the forecast period. Brazil, Mexico, Colombia, Argentina, Peru, and Chile are among the most YouTube users. The user base in these countries is about 310 million strong. Similarly, the channels with the highest number of subscribers are Brazil, Mexico, and Chile. Hence, the growing number of online entrepreneurs, YouTubers, and social media influencers are using audio and video editing software to enhance their creativity in their online video content, resulting in market expansion. Furthermore, the proliferation of smart devices and advanced internet coupled with significant growth in the media and entertainment industry has fueled the production of high-quality media content on OTT platforms, positively influencing the South America audio and video editing software market in this region. Moreover, the shift in consumer trend from traditionally used cable and satellite TV to OTT platforms based on increased convenience, connectivity, accessibility, etc., has led to increased production of animated movies and series, leading to market expansion. The market's growth across the region is largely due to rapid technological advancements driving demand for audio-video editing platforms in the music, live-streaming, and entertainment industries. The impact of COVID-19 in South America resulted in an unexpected increase in demand for innovative solutions and software from online video creators due to the growing support from various end-users over the years. The growing acceptance of distance learning, offering students more flexibility and convenience, is also creating the demand for audio and video editing software, thereby driving the market.

South America Audio and Video Editing Software Market Segmentation

The South America audio and video editing software market is segmented into component, deployment, end user, and country.

• Based on component, the market is bifurcated into software and services. The software segment registered the larger market share in 2022. The software segment is further sub segmented into audio editing software and video editing software.
• Based on deployment, the market is bifurcated into on-premise and cloud. The on-premise segment held a larger market share in 2022.
• Based on end user, the market is bifurcated into personal and commercial. The commercial segment held the larger market share in 2022.
• Based on country, the market is segmented into Brazil, Argentina, and rest of SAM. Brazil dominated the market share in 2022.

Adobe; Apple Inc; Avid Technology, Inc; Movavi Software Limited; Steinberg Media Technologies GmbH; Ableton; Animoto Inc; Autodesk Inc; MAGIX Software GmbH; SERATO; Sony Corporation; Splice.Com; TechSmith Corporation; and TRACKLIB are the leading companies operating in the South America audio and video editing software market in the region.