The Asia Pacific Creative Software Market would witness market growth of 6.9% CAGR during the forecast period (2022-2028).
The market is growing due to the increased use of animation design software in movies and the gaming sector. This expansion is also fueled by a surge in virtual reality (VR) animations for VR animation filmmaking.
Audio editing software is software that allows users to edit and create audio files. It can be used as a library, a computer program, or a web application. It can edit music, effects, and channels, among other things. Multitrack editing is a feature of audio editing software that allows users to combine sounds from several tracks and adjust them in real-time using effects and filters. For better customer satisfaction, several organizations provide customized software based on customer needs.
Tools to convert file formats, re-sequence clips, combine clips, chop clips, change or re-adjust brightness, add noises, crop and rotate footage, add a translation, and add various special effects to a video are all included in typical video editing software. Professionals can film visuals using video editing tools. It also aids in the development of post-production and editing of new digitally recorded videos. Professionals can use any video or audio processing technology to deliver high-quality video and audio projects to their intended audience.
Cheap data is frequently credited as the key impetus behind a country that ranks second in the world for video consumption. Although data is inexpensive in, regional content generated and consumed by natives had a big role in rural India’s internet adoption. Between April 2000 and December 2021, FDI inflows into the information and broadcasting sector (including print media) totaled $9.6 billion. Animation and VFX studios have found opportunities in both domestic and foreign markets owing to the rapid rise of over-the-top (OTT) channels, increasing focus on animated intellectual property (IP), and higher studio investments in VFX. These factors are likely to positively affect the demand for creative software in the region.
YouTube has millions of active users in India. A significant proportion of these people watch videos in their native language (Economic Times, 2018). By 2025, the advertising-based video on demand (AVoD) market is predicted to grow at a CAGR of 24%, reaching US$ 2.6 billion. Television continues to be the most popular advertising platforms, although this may change in the future. This indicates that media consumption in the region is one of the highest in the world. This has created abundant demand for content in the region. Avenues have opened up to fulfill this demand. Various regional streaming platforms have come up and local content production has increased significantly. This has led to high demand for creative software in the region.
The China market dominated the Asia Pacific Creative Software Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $937.9 Million by 2028. The Japan market is anticipated to grow at a CAGR of 6.2% during (2022 - 2028). Additionally, The India market would display a CAGR of 7.6% during (2022 - 2028).
Based on Deployment, the market is segmented into Cloud and On-premise. Based on Type, the market is segmented into Sound & Video Recording Software, Image & Video Editing Software, Graphics & Illustration Software, Desktop Publishing Software, and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Adobe, Inc., Sony Corporation, Artlist Limited, Nero AG, Movavi Software Limited, Magix Software GmbH, Wondershare Technology Group Co. Ltd., TechSmith Corporation, CyberLink Corporation, and Corel Corporation.
Scope of the Study
Market Segments covered in the Report:
• Sound & Video Recording Software
• Image & Video Editing Software
• Graphics & Illustration Software
• Desktop Publishing Software
• South Korea
• Rest of Asia Pacific
• Adobe, Inc.
• Sony Corporation
• Artlist Limited
• Nero AG
• Movavi Software Limited
• Magix Software GmbH
• Wondershare Technology Group Co. Ltd.
• TechSmith Corporation
• CyberLink Corporation
• Corel Corporation
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