Photo Editing Software - Global Market Outlook (2019-2027)
According to Stratistics MRC, the Global Photo Editing Software market is accounted for $773.30 million in 2019 and is expected to reach $1,485.20 million by 2027 growing at a CAGR of 8.5% during the forecast period. Some of the key factors propelling the market growth include increased innovation in camera technologies, demand of high-quality images and requirement of special effects such as color, tints, rise in number of smartphones & cameras and availability of high definition display. However, the high cost of the latest photo editing software and the lack of availability of free version software will hinder the growth of the photo editing software market.
Photo editing software refers to an application for digital photos, used to crop and refurbish photos and organize them as per the requirement. The software has the ability to take scanned images of old film photography, convert them to digital images, and digitally restore them by removing imperfections and enhancing image quality. Photo editing involves erasing, filtering, and changing the saturation, exposure, and brightness of original digital photographs, photographs on films, and prints.
By end user, the commercial segment is highly influencing the photo editor software market owing to rising use of photo editing software for social media platforms, e-commerce and fashion industries. Majority of fashion houses are increasingly adopting the use of photo editing software for marketing and gaining customer’s attention. Moreover, the social media marketing agencies are increasingly embracing the use of photo editing software for the purpose of developing and optimizing images to make them more appealing. Thus, the rising use of photo editing software for fashion and social media marketing agencies will prove to form a positive impact on the growth of the commercial segment. This development in the commercial end-user segment will further propel the photo editing market in the coming years.
On the basis of geography, North America region is expected to have considerable market growth during the forecast period, due to the rise of social media advertising, presence of major fashion houses, and growth of online advertising, e-commerce, and SMEs. Additionally, the small businesses in the U.S are heavily investing on social media agencies which will also fuel the photo editing software market in the future. Thus, the rising use of immersive and appealing advanced photo editing software along with AI-technology by the e-commerce industry in the U.S is highly enhancing the sales through this channel. These factors are further leading to the growth of the photo editing software market in this region.
Some of the key players in Photo Editing Software Market include Serif Ltd, Apple, Dxo Optic, On1, Inc, ACD Systems International Inc., Adobe Systems, Corel Corp., CyberLink Corp., Phase One AS, Zoner, Inc, Macphun, Skylumare, Alphabet (Google), and Magix.
• Prosumer Level
• Entry Level
• Professional Level
Software Types Covered:
• RAW Editing Software
• Non-RAW Editing Software
End Users Covered:
• Industrial Use
• Residential Use
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
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