The audio and video editing software market in Asia Pacific is expected to grow from US$ 1,208.56 million in 2022 to US$ 1,819.13 million by 2028. It is estimated to grow at a CAGR of 7.1% from 2022 to 2028.
Rising Demand for Animated Content in Education Sector
The growing need for animated content in education and academia is boosting the market.As a result, the growing use of audio and video editing software in e-learning platforms to enable visual representation for learning is propelling the market.
The trend of remote schooling, resulting from the effects of the COVID-19 pandemic, is also increasing the deployment of animations to improve student comprehension, fueling the expansion of video editing software among the education content creation companies.Furthermore, the growing need for low-cost animation raises the demand for whiteboard animation, strengthening market development.
The rising usage of 3D animation in professional training contributes to market expansion.Traditionally, animation needed specialized labor-intensive processes that were both time-consuming and expensive; however, today’s video editing solutions allow users to create content without substantial knowledge.
Teachers are no longer constrained to static pictures; they may easily transform instructional modules into instructive animations using audio and video editing software. As online learning platforms, such as Coursera, edX, and Udemy, become more popular, motion graphic content and animated movies are being used, pushing solid industry expansion. Using animated content in e-learning to accurately teach a topic in applications, such as medical training, catalyzes business growth. Learning and teaching may become faster and more fun with 3D animation. The basic purpose of animated content is to make learning more task-oriented and practical, reducing the time and effort students must engage in it. Thus, the rising demand for animated content in education is expected to drive the demand for audio and video editing software during the forecast period.
China, Japan, India, Australia, South Korea, and rest of Asia Pacific are the key contributors to the audio and video editing software market in the Asia Pacific.There has been an increasing demand for video content across Asia Pacific (APAC).
Based on the report by Tubular Lab’s 2019 report, APAC is the fastest-growing geographical market for video consumption.Studies claim that YouTube views across the region grew by 45% in the first half of 2019 compared to 2018, while Facebook views experienced a rise of 44%.
This growth is due to the penetration of smartphone users in the region. Furthermore, video content budgets in India, South Korea, and Southeast Asia have expected to grow by 21% to US$ 10.4 billion in 2021. According to the Media Partners Asia report, they are expected to grow by 15% to US$ 12 billion by the end of 2022. All markets and all industries are expected to grow, although India and South Korea will drive most of the increase online video will grow the fastest at nearly US$ 700 million, while movies will grow the fastest at almost 140% as new movies hit theatres. Hence, such growth is anticipated to fuel the uptake of new video editing technologies and will further boost the region’s the APAC audio and video editing software market in the coming years. Furthermore, video content budgets in India, South Korea, and Southeast Asia have expected to grow by 21% to US$ 10.4 billion in 2021. According to the Media Partners Asia report, they are expected to grow by 15% to US$ 12 billion by the end of 2022. All markets and all industries are expected to grow, although India and South Korea will drive most of the increase. Furthermore, digital games have become a popular form of entertainment in the global market, especially in the East Asian market, presenting unique audio and video animations. As the East Asian game market integrates into regional markets, game science incorporates regional concepts through smart visuals and animation. The rise in the gaming industry is anticipated to create lucrative opportunities for audio and video editing market players during the forecast period
Exhibit: Asia Pacific Audio and Video Editing Software Market Revenue and Forecast to 2028 (US$ Million)
Asia Pacific Audio and Video Editing Software Market Segmentation
The Asia Pacific audio and video editing software market is segmented into component, deployment, end user, and country.
Based on component, the market is bifurcated into software and services.The software segment registered the larger market share in 2022.
The software segment is further sub segmented into audio editing software and video editing software.
Based on deployment, the market is bifurcated into on-premise and cloud. The on-premise segment held a larger market share in 2022.
Based on end user, the market is bifurcated into personal and commercial. The commercial segment held the larger market share in 2022.
Based on country, the market is segmented into China, Japan, India, Australia, South Korea, and rest of Asia Pacific. China dominated the market share in 2022.
Adobe; Apple Inc; Avid Technology, Inc; Movavi Software Limited; Steinberg Media Technologies GmbH; Ableton; Animoto Inc; Autodesk Inc; LONGTAIL ad Solution, Inc (JW Player); MAGIX Software GmbH; Native Instruments; Serato; Sony Corporation; Splice.Com; TechSmith Corporation; TRACKLIB; and Wondershare Technology Co., Ltd are the leading companies operating in the audio and video editing software market in the region.