Commercial Segment to Dominate MEA Video Editing Software Market during 2019–2027
According to The Insight Partners market research study on “MEA Video Editing Software Market to 2027 – COVID-19 Impact and Regional Analysis and Forecast by Type and Application” is expected to reach US$ 365.71 million by 2027 from US$ 224.96 million in 2019. The market is estimated to grow at a CAGR of 6.4% from 2020 to 2027. The report provides trends prevailing in the MEA video editing software market along with the drivers and restraints pertaining to the market growth. Multiple advantages of video editing software and functional need is the major factor driving the growth of the MEA video editing software market. However, issues associated with numerous free video editing software options hinders the growth of MEA video editing software market.
The MEA video editing software market is segmented into type, application and country. Based on type, the MEA video editing software market is bifurcated into on-premises and cloud-based. Cloud-based segment is expected to be the fastest growing during the forecast period. On basis of application the market is further segmented into commercial and personal. Commercial segment held a substantial market share throughout the forecast period.
Also the ongoing COVID-19 is having terrible effect on MEA economy. In the MEA region, Iran, Saudi Arabia, Qatar, South Africa, and UAE are some of the countries with high number of COVID-19 confirmed cases and deaths. The economic and industrial growth of these countries has been affected negatively in the past few months. The MEA region is expected to witness a significant impact of COIVD-19 in near future owing to heavy reliance on international vendors, and authorized sales representatives due to lack of prominent solution providers in the region. The region is projected to register a swift decline in their supply of video editing related applications due to disruption in movies and video developing related activities and operations across region. However in coming quarter the MEA region is expected to witness a limited impact of COIVD-19 during the coming few weeks owing to presence of international vendors, and authorized sales representatives of prominent solution providers in the region. The region is projected to register marginal decline in their purchasing spending for improved IT solutions for media management owing to disruption in business activities and operations.
Adobe Inc.; Apple Inc.; Autodesk Inc.; Avid Technology, Inc.; Lightricks Ltd.; Softo ltd. are among the leading companies in the MEA video editing software market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2020, Avid declared it has renewed its cloud collaboration with Microsoft. Over the course of the new five-year strategic alliance agreement, Avid will continue to develop and deploy its cloud-based solutions on Microsoft Azure.
The report segments the MEA Video Editing Software Market follows:
MEA Video Editing Software Market – By Type
- On-Premises
- Cloud-Based
MEA Video Editing Software Market – By Application
- Commercial
- Personal
MEA Video Editing Software Market – By Country
- Saudi Arabia
- South Africa
- UAE
- Rest of MEA
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