LONDON--(BUSINESS WIRE)--The global audio and video editing software market is expected to register a CAGR of over 10% during the period 2018-2022, according to the latest market research report by Technavio. However, the growth momentum of the market is expected to decelerate due to a decline in the year-over-year growth.
A key factor driving the market’s growth is the reduction in the price of editing software. Prominent vendors of audio and video editing software have reduced the prices mainly due to the presence of free open-source editing software for personal and commercial projects. The price reduction is one of the major drivers for the global audio and video editing software market. The trend of making the software affordable for smaller companies, production houses, and individuals was initiated by a major vendor.
This market research report on the global audio and video editing software market 2018-2022 provides an analysis of the most important trends expected to impact the market outlook during the forecast period. Technavio predicts an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
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In this report, Technavio highlights the increasing unit sales of mobile devices as one of the key emerging trends in the global audio and video editing software market:
Global audio and video editing software market: Increasing unit sales of mobile devices
With improved network connectivity and increase in the disposable income of the population around the world, sales of mobile devices are increasing every year. Increased sales of mobile devices subsequently drive the demand for editing software incorporated in these devices. Vendors have started providing audio and video editing software for tablets and smartphones.
“A major advantage of mobile devices is the use of touchscreen as an input method. On the other hand, desktops use mouse or keyboard as an input method. A user operating mobile devices have a smaller viewing space. However, this makes it easy for users who use large screen devices,” says a senior analyst at Technavio for research on enterprise application.
Global audio and video editing software market: Segmentation analysis
This market research report segments the global audio and video editing software market into the following end-users (professional users and non-professional users) and key regions (the Americas, APAC, and EMEA).
The professional users segment held the largest market share in 2017, accounting for nearly 79% of the market. This end-user segment is expected to dominate the global market throughout the forecast period.
The Americas held the highest share of the global audio and video editing software market in 2017, accounting for a market share of approximately 41%. The market share occupied by this region is anticipated to increase by over 1% during 2018-2022.
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