The new report by Expert Market Research titled, ‘Global Photo Editing Software Market Report and Forecast 2023-2028’, gives an in-depth analysis of the global photo editing software market growth, assessing the market based on its segments like components, applications, and regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2018-2028)
- Forecast CAGR (2023-2028): 8%
- Forecast Market Size (2028): USD 252.99 Million
The photo editing software market is being driven by the growing application of the software in the commercial sector. The photo editing software has witnessed a significant demand in the event management and advertising industry, since this type of software enhances the features a digital image, making it look more appealing to the audience. Over the forecast period, the growing demand for high-quality pictures in the media and entertainment industries is likely to be a crucial driving factor in the market.
Bollywood/hollywood magazines, fitness magazines, entertainment magazines, and news magazines heir professional photographers and photo editors who easily bolster the aesthetic appeal of an image. In terms of region, North America accounts for a significant share in the market, owing to the technological advancements in the various end use industries of the photo editing software. The market in the region is anticipated to be aided by the growing number of high-quality camera manufacturers.
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Photo Editing Software Industry Definition and Major Segments
Photo editing software is defined as a type of software which is used to manipulate the images. The software is capable of cropping and restoring photographs and arranging them according to the necessity.
On the basis of component, the market is divided into:
- Entry-Level
- Prosumer Level
- Professional Level
The market segmentation on the basis of application include:
- Individual
- Commercial
- Others
The regional markets for photo editing software include:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Photo Editing Software Market Trends
The technological advancements in the photo editing software, aimed towards upgrading its features is likely to be a major trend in the market. This includes the convenience of the software to get installed in the smartphones, which enables the consumers to edit images regardless of place or time. The growing inclination of the youth towards photography as a profession is likely to be another major trend in the market. This is likely to augment the demand for advanced photo editing software.
Key Market Players
The major players in the market are Adobe Systems Software Ltd. (NASDAQ: ADBE), Serif Ltd., Corel Corporation, Cyberlink Corporation, DXO Optics, ACD Systems International, Inc., ON1, Inc., Macphun, Magix, and Zoner, Inc., among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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