The photo editing software market in APAC is expected to grow from US$ 223. 9 million in 2019 to US$ 414. 8 million by 2027; it is estimated to grow at a CAGR of 8. 1% from 2020 to 2027. The APAC consumer electronics industry is witnessing an impressive growth rate in both developed and developing countries majorly due to continuous advancements in technology and increasing affordability of these devices.
New York, Oct. 08, 2020 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Asia Pacfic Photo Editing Software Market Forecast to 2027 - COVID-19 Impact and Regional Analysis By Type ; End User ; Platform ; and Country" - https://www.reportlinker.com/p05974324/?utm_source=GNW
Smartphones, cameras, laptops, and tablets have become an integral part of consumer lives.
All these devices are becoming smarter in terms of functionality and camera systems due to the integration of technologies such as AI and IoT.The rising disposable income, increasing population, and growing demand for smart consumer devices are some of the key factors driving the growth of APAC consumer electronics market.
Due to increasing availability of low-cost smartphones and digital cameras, the developing countries across the world are experiencing a substantial rise in the number of smartphone and digital camera users.These products are embedded with high-end technologies, which enable users to use, access, and create high quality content on these devices.
Owing to this, the photography industry and photo editing software industry is growing at an impressive pace. End users are investing a significant amount in smart camera devices for taking and editing photographs for personal as well as professional purposes. Considering this factor, the photo editing software companies are investing in creating software with advanced features to capture the growing customer base in APAC. Thus, the rising demand of consumer electronics products especially smartphones and digital cameras is anticipated to drive the growth of the APAC photo editing software market during the forecast period.
Adobe, Corel Corporation, CyberLink Corp, Inmagine Group, and Phase One A/S are among the key players in the ecosystem profiled during this market study. In addition to these players, several other major market players operating in the ecosystem were studied and analyzed during the course of this market research to get a holistic overview of the APAC photo editing software market.
As per the latest WHO situation report dated 22nd July 2020, the overall COVID-19 confirmed cases in the APAC region crossed 1.78 million with more than 43,000 deaths. At present, India, China, Bangladesh, Indonesia, Philippines, and Singapore are some of the worst affected countries due to COVID-19 outbreak in the region. The governments and companies in the region have implemented various restrictions on transportation and movement of people. However, the COVID-19 outbreak is not likely to affect the growth of photo editing software market, considering the nature of photo editing work, which can be done from any remote location. Moreover, people are investing in acquiring photo editing skills while working from home, which, in turn will result in a positive impact on the market growth.
Overall size of the APAC photo editing software market has been derived using both primary and secondary sources.To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market.
The process also serves the purpose of obtaining overview and forecast for the APAC photo editing software market with respects to all the segments pertaining to the region.Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic.
The participants who take part in such a process, which include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers along with external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the APAC photo editing software market are Adobe, Corel Corporation, INMAGINE GROUP, and CyberLink Corp.
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