Europe Video Editing Software Market Forecast to 2027 - COVID-19 Impact and Regional Analysis by Type (On-Premises and Cloud-Based), and Application (Commercial and Personal)
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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.
UK, Germany, France, Russia and Italy are major economies in Europe. Comprehensive advantages of video editing software and functional necessity is raising the demand of video editing software and this is driving the Europe video editing software market in a positive way. The video editing software continues to provide robust, efficient and powerful tools for professional as well as commercial media management based end-users who utilize the application of these software for development of seamless videos. Over the years, the prominent market players continue to develop improved as well as superior video editing software comprising sophisticated. Currently, the video editing software provide broad range of tools and controls for video editing related operations such as rendering power, organizing complex projects, color grading panels, and optical flow among other features remain popular among several leading, emerging desktop based video editing platforms. Whereas, the cloud-based software application lacks the complexity as well as competent features it provides core video editing capabilities via a cloud environment for subscription-based business models. Additionally, the video editing software owing to their functional requirement in video content management across the broadcast, media, video advertisement and selected other industries is expected to continue to provide steady business growth opportunities for the market players during the coming years. Thus the necessity of video editing and its advantages are further expected to create a significant demand for video editing software in the coming years, which would ultimately drive the market in Europe.
Further, the ongoing 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.
With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the Europe video editing software market. The Europe video editing software market is expected to grow at a good CAGR during the forecast period.
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 - Companies Mentioned
- 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
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