Photo Editing Software Market 2018: Demand for Premium Software, Growth Analysis and Forecast of Production, Applications and Usage till 2023
The market for Photo Editing software is strong and forecasts predict it to grow at a CAGR of 8.2% between 2017 and 2023.
Dallas, United States – May 22, 2018 /MarketersMedia/ —
The market for photo editing software is projected to register a CAGR of 8.2% during the forecast period (2018 – 2023). The scope of this report is limited to: end-user type, which include professional and non-professional consumers. The regions considered in the scope of the report include – North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa.
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Photo editing tools have rapidly penetrated the market in the last 5 years, due to increasing availability of sophisticated cameras and integration of high quality cameras on smart phones. Smart phones has been one of the major factors that influenced the demand for photo editing tools in the market. With cameras becoming one of the import aspect of the phones, the demand for powerful photo editing tools and software has been high. Also, increasing interest among users to improve photos and media to publish on social media platforms has further boosted the demand for the photo editing tools. Increasing investments in marketing and social media has further driven the demand from business users. With the industry demanding more powerful tools packaged in easy-to-use apps, the investments in this solution have grown, and are expected to maintain positive growth trajectory in the future.
Non-professional Users drive the Demand for App-based Tools
While the industry focus has been on professional end-user in the market, the trend has shifted towards non-professional users in the recent times. With the increase in number of users of photo editing tools, companies are introducing products to cater this segment. Social media sites and applications are offering integrated photo editing tools, while smart phone companies are also investing heavily to integrate modes to enhance pictures and editing software with camera apps. Companies are also offering AI assisted editing tools, which are receiving great response from consumers. Hardware companies are collaborating with editing software providers to serve this category better. Also, leading players are offering lite tools to capture this market.
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North America and Asia-Pacific to be Key Markets
While US has been one of the primary markets for photo editing tools in the recent past, increasing use of these tools among non-professional users has shifted the focus of the market toward Asia-Pacific countries like, India and China. While the market remains distributed globally, a large number of smart phone users and rapid the social media penetration are driving the consumption of photo editing tools in the Asia-Pacific region. With awareness among public in these regions increasing, the consumption of professional tools is also expected to increase. The US and European markets are however, expected to lead, in terms of customers using the software for professional purposes. Thus, the US and China are expected to be key in the growth of the market over the coming years.
Key Developments in the Market
Apr 2018 – Huawei Company and AI enabled photo editing tool provider Prisma, announced a partnership to work with Huawei’s new flagship mobile P20 phones AI capabilities. This Prisma-Huawei team-up is anticipated to deliver mobile-based AI features and effects.
This collaboration is expected drive more partnerships in the market.
Major Players : ADOBE SYSTEMS, CORAL CORPORATION, ACD SYSTEMS, CYBERLINK CORP, GOOGLE INC, DXO LABS SAS, MICROSOFT CORPORATION, PHASE ONE A/S, SERIF EUROPE LTD, amongst others.
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Companies Mentioned:
Adobe Systems, Coral Corporation, ACD Systems, Cyberlink Corp, Google Inc, DxO Labs SAS, Microsoft Corporation, Phase one A/S, Serif Europe Ltd
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