The video editing software market in North America is expected to grow from US$ 635. 58 million in 2019 to US$ 923. 41 million by 2027; it is estimated to grow at a CAGR of 4. 9% from 2020 to 2027. Handy features of video editing software and its practical importance is expected to surge the growth of North America video editing software market.
New York, Dec. 23, 2020 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "North America Video Editing Software Market Forecast to 2027 - COVID-19 Impact and Regional Analysis by Type, and Application" - https://www.reportlinker.com/p05999785/?utm_source=GNW
The video editing software continues to provide robust, efficient, and powerful tools for professional as well as commercial media management based end users who utilize the application of these software for development of seamless videos. Over the years, the prominent market players continue to develop improved as well as superior video editing software. Currently, the video editing software provide broad range of tools and controls for video editing related operations such as rendering power, organizing complex projects, color grading panels, and optical flow that remain popular among several leading, emerging desktop based video editing platforms. Whereas, the cloud-based software application lacks the complexity as well as competent features it should provide such as core video editing capabilities via a cloud environment for subscription-based business models. Additionally, the video editing software owing to their functional requirement in video content management across the broadcast, media, video advertisement, and selected other industries is expected to continue to provide steady business growth opportunities for the market players during the coming years. Growing craze of online video content at various social media platforms and raising demand of video editing software are among the other factors expected to positively influence the demand for video editing software.
In terms of type, the on-premises segment led the North America video editing software market in 2019.An on-premise deployment allows complete control over the entire software.
The accountability for data security remains with the customer, and the in-house IT department or the individual assures requirements.Handling on-premise solutions are complicated for the user owing to the deficiency of transparency of the on-premise infrastructure on the developer’s end.
Despite the high initial cost required for on-premise deployment, several companies or individuals opt for this solution in order to secure respective data or customer data.Due to the surge in demand for on-premise software, several video editing software developers offer their products to use on-premise.
This factor is catalyzing the North America video editing software market.
Also the ongoing COVID-19 is having a very devastating impact over the North America region.Presently, the US is the world’s worst-affected country due to the COVID-19 outbreak.
North America is one of the most important regions for the adoption and growth of new technologies owing to favorable government policies to boost innovation, the presence of a huge industrial base, and high purchasing power, especially in developed countries such as the US and Canada.Hence, any impact on the growth of industries is expected to affect the economic growth of the region in a negative manner.
The US is a prominent market for video editing, especially in the commercial sector.The huge increase in the number of confirmed cases and falling GDP in the country has affected these industries.
The companies and business shutdowns across the US, Canada, and Mexico are impacting the adoption of the video editing software market. The swift decline in revenue owing to virtual non-existent demand from media and production houses has limited their spending on procurement of additional technologies altogether across the North America region. North America region is home to a large number of technology companies, and thus the impact of COVID-19 outbreak is anticipated to be quite severe in the year 2020 and likely in 2021. However, the impact of COVID-19 is short-term and is likely to decrease by 2022.
The overall North America video editing software market size 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 North America video 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 typically take part in such a process 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 North America video editing software market. Adobe Inc.; Animoto Inc.; Apple Inc.; Autodesk Inc.; Avid Technology, Inc.; Corel Corporation; CyberLink Corp.; InShot Inc.’ Kapwing Inc.; KineMaster Corporation; NCH SOFTWARE; Placeit (Envato Pty Ltd.); Vimeo, Inc.; Wondershare Technology Co., Ltd. are among a few players operating in the North America video editing software market.
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