Market Introduction
The traditional approaches to video content production have been revolutionized, despite many advancements in the broadcast and media field resulting in improved video quality through the incorporation of improved rendering abilities, animation, AR / VR, recording, and many others. Among these, the application focused on video editing now uses the powerful capabilities of advanced as well as basic ones. Europe region’s digital advertising industry has been continuously growing. The report also stated that video advertising expenditure had experienced further growth. Countries, including the UK, France, Italy, and Germany, lead the Western European video market spend, while Eastern European nations are noticing higher growth than Western countries. As per Eurostat, ~47% of the EU enterprises used at least one social media platform in 2017. Also, over eight out of ten use social media for marketing their products or brand awareness. The rate of social media usage by EU enterprises for marketing increased to 40% in 2017 from 22% in 2013. Also, the penetration of social media users differs widely from county to country in Europe. For instance, as per Eurostat, approximately 65% of the Hungary population (aged 16-74) use social networking sites. The statistics signify a much higher level compared to the EU average and its neighboring countries. However, the highest social media penetration rate is acquired by Denmark (79%). Other key countries include Belgium, followed by Sweden and the U.K., Cyprus, Malta, Finland, and the Netherlands. The growth in social media usage is anticipated to support the demand for video editing software for personal users. Also, Comprehensive advantages of video editing software and its functional necessity is expected to create a significant demand for video editing software in the coming years, which is further anticipated to drive the Europe video editing software market. Furthermore, COVID-19 is impacting the Europe region very badly. Spain, Italy, Germany, UK, and France are some of the worst affected member states in the European region. Businesses in the region are facing severe economic difficulties as they had either to suspend their operations or reduce their activities in a substantial manner. Although, during the COVID-19 pandemic, the industry witnessed a downfall, owing to which the government announced several plans for supporting independent production. For example, the BBC announced a plan to support the independent production sector in the UK. The country’s ITV announced a US$ 615,000 development fund intended to accelerate the discovery of innovative ideas and content for the channel to broadcast in late 2020 and 2021. The French government also announced measures such as tax suspension, subsidies, solidary fund, and early repayment of tax credits, among others. Other countries in the EU, including Germany, Hungary, Italy, and Poland, have also announced several plans to support the film industry's growth during the COVID-19 epidemic. Such factors are expected to moderate the impact of COVID-19 on the EU film industry, thus creating a demand for video editing software. The numerous countries in the overall region generated moderate additional new demand to limited demand owing to considerably weak business activities in light of the pandemic across different European countries. However, the strong presence of leading customer across major economies have witnessed limited impact over the European market.
Market Overview and Dynamics
The video editing software market in Europe is expected to grow from US$ 441.19 million in 2019 to US$ 673.51 million by 2027; it is estimated to grow at a CAGR of 5.5% from 2020 to 2027. The notably vast presence of media and broadcast industries for media and entertainment continues to gain significance for daily news, entertainment, education or other applications. As a result, the related software components and tools including video editing software also expected to play crucial role for their seamless production and management based procedures. Over the decade these software video editing has witnessed significant improvement in their video editing capabilities through integration of more robust, flexible and powerful tools that aid in seamless video editing solution for professional, commercial and personal application. Moreover, the recent .swift popularity of various advanced video recording devices such as AR, VR, mixed reality and 360-degree are expected to revolutionize the traditional video recording as well as introduce improvement in video editing techniques. Advancement of technological features in video editing software is further anticipated to bolster the growth of the Europe video editing software market.
Key Market Segments
In terms of type, the on-premises segment accounted for the largest share of the Europe video editing software market in 2019. In terms of application, the commercial segment held a larger market share of the Europe 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 Europe are company websites, annual reports, financial reports, national government documents, and statistical database, among othetwrs. Major companies listed in the report are Adobe Inc.; Apple Inc.; Autodesk Inc.; Avid Technology, Inc.; Bending Spoons S.p.A.; Corel Corporation; CyberLink Corp.; FXhome Limited; Lightricks Ltd; KineMaster Corporation; PIXICO.
Reasons to buy report
- To understand the Europe 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 Europe video editing software market
- Efficiently plan M&A and partnership deals in Europe 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 Europe video editing software market
- Obtain market revenue forecast for market by various segments from 2020-2027 in Europe region.
Europe Video Editing Software Market Segmentation
Europe Video Editing Software Market - By Type
- On-Premises
- Cloud-Based
Europe Video Editing Software Market - By Application
- Commercial
- Personal
Europe Video Editing Software Market - By Country
- France
- Germany
- Italy
- Russia
- UK
- Rest of Europe
Europe Video Editing Software Market - Company Profiles
- Adobe Inc.
- Apple Inc.
- Autodesk Inc.
- Avid Technology, Inc.
- Bending Spoons S.p.A.
- Corel Corporation
- CyberLink Corp.
- FXhome Limited
- Lightricks Ltd
- KineMaster Corporation
- PIXICO