Audio and Video Editing Software Global Market Report 2024

The audio and video editing software market size has grown rapidly in recent years. It will grow from $3.11 billion in 2023 to $3.38 billion in 2024 at a compound annual growth rate (CAGR) of 8.6%. The growth observed in the historical period can be attributed to several factors, including the explosion of multimedia content and the growth of the internet, the consumerization of content creation with increased user-generated content, and the rise of digital media and entertainment industries.

The audio and video editing software market size is expected to see strong growth in the next few years. It will grow to $4.6 billion in 2028 at a compound annual growth rate (CAGR) of 8%. The anticipated growth in the forecast period can be attributed to several factors, including the increasing demand for user-friendly interfaces in audio and video editing software, the rise of remote and collaborative workflows, integration of artificial intelligence (AI) and automation for enhanced editing capabilities, growing importance of mobile editing, and the expansion of virtual and augmented reality (VR/AR) content. Major trends expected in the forecast period encompass the integration of AI and machine learning technologies for more intelligent editing processes, the adoption of cloud-based editing platforms for increased flexibility and accessibility, advancements in immersive and spatial audio editing, increased integration of collaboration tools for enhanced teamwork, and the development of mobile editing capabilities to cater to on-the-go content creation needs.

The surge in social media usage is poised to drive the expansion of the audio and video editing software market in the foreseeable future. The increased accessibility of social media, facilitated by the widespread availability of smartphones and affordable internet plans, has led to a significant uptick in social media engagement. Audio and video editing software plays a crucial role in enhancing social media content, empowering creators to refine and customize multimedia messages for impactful, engaging, and professional presentations. For example, data from Avocado Social in February 2023 indicates a remarkable growth in social media users, with an increase of 424 million users in 2022 alone, representing a growth rate exceeding 10% and reaching a global total of 4.6 billion users in 2021. Consequently, the escalating social media usage serves as a primary driver propelling the growth of the audio and video editing software market.

Key players in the audio and video editing software market are directing their efforts towards the development of innovative solutions, particularly video editing software, to bolster their market position and profitability. These software solutions leverage machine learning algorithms and AI technologies to automate, enhance, and streamline editing processes, encompassing tasks such as noise reduction, content analysis, and effect application. For instance, Wondershare Technology Group Co. Ltd. introduced filmora 13.1 in January 2024, which elevates video editing capabilities with AI-enhanced audio features. This includes an expanded AI music generation library, more natural text-to-speech voices, and enhanced customization options. Additionally, the software introduces over 30 new natural tones and atmospheric sound adjustments, enabling creators to produce more lifelike voiceovers and enrich their audiovisual content.

In September 2021, Microsoft Corporation, a renowned US-based technology company, completed the acquisition of Clipchamp Pty Ltd. for an undisclosed sum. This strategic move is geared towards augmenting Microsoft's cloud-powered productivity suite and Windows platform, with the goal of democratizing video editing and empowering creators of all levels. Clipchamp Pty Ltd., headquartered in Australia, specializes in developing video editing tools. By integrating Clipchamp's technology and expertise into its ecosystem, Microsoft aims to offer enhanced video editing capabilities to its users, further enriching their creative experiences and productivity.

Major companies operating in the audio and video editing software market report are Apple Inc., Microsoft Corporation, Sony Corporation, Adobe Inc., Autodesk Inc., Zynga Inc., Grass Valley LLC, Nemetschek Group, Avid Technology Inc., Blackmagic Design Pty Ltd., Acronis International GmbH, Wondershare Technology Group Co. Ltd., Corel Corporation - Alludo, MAGIX Software GmbH, TechSmith Corporation, Movavi Software Limited, CyberLink Corporation, Steinberg Media Technologies GmbH, Animoto Inc., Sonic FoundryInc., iZotope Inc., Topaz Labs, Nero AG, BandLab Technologies, Boris FX Inc.

North America was the largest region in the audio and video editing software market in 2023. The regions covered in the audio and video editing software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the audio and video editing software market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Audio and video editing software are tools specifically designed for manipulating and enhancing sound recordings and video footage, respectively. These software solutions empower users to perform tasks such as cutting, combining, or modifying content, adding effects, and adjusting various parameters such as volume, color, and brightness to create polished and professional multimedia projects.

The main components of audio and video editing software are solutions and services. A solution refers to a comprehensive and effective answer or resolution to a problem or challenge, often involving the configuration of audio and video editing software to optimize performance and leverage specific features. These solutions can be deployed through on-premise or cloud-based models. The software finds applications across various user categories, including professional and non-professional users, and serves diverse end-users such as those in live broadcasting, media, and entertainment.

The audio and video editing software market research report is one of a series of new reports that provides audio and video editing software market statistics, including audio and video editing software industry global market size, regional shares, competitors with an audio and video editing software market share, detailed audio and video editing software market segments, market trends and opportunities, and any further data you may need to thrive in the audio and video editing software industry. This audio and video editing software market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The audio and video editing software market consists of revenues earned by entities by providing services such as multitrack mixing, sound effects and synthesis, audio processing and effects, non-linear editing, special effects and composition, and audio integration. The market value includes the value of related goods sold by the service provider or included within the service offering. The audio and video editing software market also includes sales of computers, external hard drives, capture cards, and audio interfaces. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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