Market Introduction
The demand for video content is also witnessing high growth across the APAC region. According to Tubular Lab’s 2019 report ‘State of Online Video Report (SOOV),’ APAC is the fastest-growing geographical market for video consumption. The report stated that YouTube views in the region grew 45% in the first half of 2019 as compared to the first half of 2018. Also, Facebook views witnessed a rise of 44%. The growth is highly attributed to the rising penetration of smartphone users in the region. The consumption of web-based video content is driven by both creation of new content services as well as increased variation by competing for video technologies. The OTT demand is pushing video industry players to adopt innovative technologies to compete in a highly competitive market. Several existing players are also moving toward OTT. For instance, in 2019, PCCW Media, Hong Kong, launched Now E, its new OTT TV platform. Furthermore, countries such as Indonesia and Malaysia are witnessing high demand for OTT content. Apart from OTT, the traditional broadcast and Pay-TV demand are also flourishing. Further, influencer marketing is booming in the region due to the rising use of social media, creating demand for video editing software. Also, Rising Urge of video editing software due to popularity of online video content on social media channels is expected to create a significant demand for video editing software in the coming years, which is further anticipated to drive the APAC video editing software market.
Furthermore, COVID-19 is having a negative impact over APAC region. APAC region constitutes the two most populated countries China and India, along with the presence of a large number of developing countries, positive economic outlook, high industrial presence, huge population, and rising disposable income. India is worst hit country by COVID-19 in APAC. The China region imposed strict lockdown and social isolation which virtually disrupted the business operations of considerably advertising agencies and media houses for several weeks resulting in lack of new business contracts for the numerous market players. Similarly, India also imposed a nationwide lockdown to mitigate the growing number of COVID-19 cases across the country. As a result, the subsequent lockdown and disruption of numerous IT companies and technology providers across China and India respectively has contributed significantly over their spending on new technologies for audio and video management solutions impacting the market growth across the APAC region. The governments are taking drastic measures to reduce the effects of coronavirus outbreak by announcing lockdowns, travel, and trade bans. All these measures are expected to impact the adoption and growth of video editing software, especially in the commercial sector in 2020 and 2021.
Market Overview and Dynamics
The video editing software market in APAC is expected to grow from US$ 511.98 million in 2019 to US$ 908.18 million by 2027; it is estimated to grow at a CAGR of 7.5% from 2020 to 2027. The recent advances in hardware and video recorders' technical capabilities have enabled the rapid growth in videos focused on virtual reality, mixed reality and augmented realities over the past few years. In addition, among numerous leading end-user clients, the popularity of 360-degree videos has also gained popularity, witnessing the demand for such video content. . As a result, several leading video editing software have explored or integrated specialized tools and features for editing AR/VR or 360-degree based video content editing into their existing software solutions. For instance, in 2018 Google introduced its VR180 Creator tool for Mac and Linux based operating systems that enabled the user for seamless editing of VR based videos captured through Google’s VR VR180 camera. The AR / VA-based video content is currently limited to the selected skilled end-user base, but within the next forecast period it is anticipated to gain considerable momentum and consequently prepared to provide market players with many lucrative sustainable business opportunities. Popularity of video content based on AR and VR to extend the commercial spectrum of applications which is further anticipated to bolster the growth of the APAC video editing software market.
Key Market Segments
In terms of type, the on-premises segment accounted for the largest share of the APAC video editing software market in 2019. In terms of application, the commercial segment held a larger market share of the APAC video editing software market in 2019.
Major Sources and Companies Listed
A few major primary and secondary sources referred to for preparing this report on the video editing software market in APAC are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are Adobe Inc.; Apple Inc.; Autodesk Inc.; Avid Technology, Inc.; Biteable Pty Ltd.; Corel Corporation; Clipchamp; CyberLink Corp.; KineMaster Corporation; NCH SOFTWARE; PearlMountain Limited; Renderforest; VivaVideo; Wondershare Technology Co., Ltd.
Reasons to buy report
- To understand the APAC video editing software market landscape and identify market segments that are most likely to guarantee a strong return
- Stay ahead of the race by comprehending the ever-changing competitive landscape for APAC video editing software market
- Efficiently plan M&A and partnership deals in APAC video editing software market by identifying market segments with the most promising probable sales
- Helps to take knowledgeable business decisions from perceptive and comprehensive analysis of market performance of various segment form APAC video editing software market
- Obtain market revenue forecast for video editing software market by various segments from 2020-2027 in APAC region.
APAC Video Editing Software Market Segmentation
APAC Video Editing Software Market - By Type
- On-Premises
- Cloud-Based
APAC Video Editing Software Market - By Application
- Commercial
- Personal
APAC Video Editing Software Market - By Country
- Australia
- China
- India
- Japan
- South Korea
- Rest of APAC
APAC Video Editing Software Market - Company Profiles
- Adobe Inc.
- Apple Inc.
- Autodesk Inc.
- Avid Technology, Inc.
- Biteable Pty Ltd.
- Corel Corporation
- Clipchamp
- CyberLink Corp.
- KineMaster Corporation
- NCH SOFTWARE
- PearlMountain Limited
- Renderforest
- VivaVideo
- Wondershare Technology Co., Ltd.