Creative Software Industry Overview
The global creative software market size was valued at USD 8.47 billion in 2021 and is expected to expand at a compound annual growth (CAGR) of 6.8% from 2022 to 2028.
The growth of the global market is mainly driven by the increasing requirement for transcoding methodologies to distribute audio and video files to the large number of end-users, the broad expansion of online video and audio recording platforms, and the rising need for on-demand services. Additionally, a wide range of prospects in small and medium-sized enterprises (SMEs) and rapid expansion in the education sector are likely to provide enormous market potential in near future.
Gather more insights about the market drivers, restrains and growth of the Global Creative Software Market
The primary reasons driving the expansion are predicted to be technological proliferation and innovation in both hardware and software services. The increasing use of internet services, as well as the widespread availability and accessibility to creative software, are likely to boost market growth over the forecast timeline. In the global market, software and solution providers are continually improving and pushing the technical limitations in terms of real-time rendering of audio and images, which is likely to drive development even further.
The growing adoption of cloud-based solutions to increase the effectiveness and quality while recording and editing audio and video streams are influencing the global market positively. Additionally, the growing trend of audio and video streaming in North America and Europe is further contributing to the market development. The rising adoption of mobile phones and the increasing popularity of social media platforms and other digital channels for content creation and promotion are expected to boost the industry’s development.
Audio and video recordings and pre-recorded webinars and courses are being widely used in the educational and academic sector to assist the learning process. Students' capacity to recall knowledge is significantly impacted by visual records. As a result, universities, schools, and institutions are increasingly producing multimedia content and presenting it via video presentations, utilizing technology to efficiently teach information. This is expected to uplift the market in the coming years. In addition to that, the broadcaster and content creators have been encouraged to deploy creative solutions and services to improve consumer satisfaction due to the rising demand for high definition 4K picture quality.
During the coronavirus (COVID-19) pandemic, the use of free audio and video editing software is on the rise. For example, Adobe Inc., a leading market player, has launched a free trial for its Adobe Creative Cloud, professional-grade video editing and music-making software. Due to the COVID-19 lockdown, online businesses, budding YouTubers, and social media influencers are generating more online content. As a result, video and audio editing software vendors are expanding their free trial period offerings. The need for audio and video editing software has surged as a result of a significant shift toward work-from-home demand. Audio and video editing software vendors are making more free tools available so that customers can get hands-on experience with the software and increase their conversions.
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Creative Software Market Segmentation
Grand View Research has segmented the creative software market based on deployment, type, and region.
Deployment Outlook (Revenue, USD Million, 2017 – 2028)
Type Outlook (Revenue, USD Million, 2017 – 2028)
- Sound & Video Recording Software
- Image & Video Editing Software
- Graphics & Illustration Software
- Desktop Publishing Software
Regional Outlook (Revenue, USD Million; 2017 – 2028)
- North America
- Asia Pacific
- Central & South America
- Middle East & Africa
Key Companies profiled:
Some prominent players in the global creative software market include
- Adobe Inc.
- MAGIX Software GmbH
- Corel Corporation
- CyberLink Corp.
- FXhome Limited
- TechSmith Corporation
- Nero AG
- Movavi Software Limited
- SONY CREATIVE SOFTWARE INC.
- Wondershare group
Order a free sample PDF of the Creative Software Market Intelligence Study, published by Grand View Research.
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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