Photo Editing Software Market Size
Photo Editing Software Market Size
Enhance, change, and optimize images, making them more captivating and aligned with their brand's aesthetic, driving the growth of photo editing software.
PORTLAND, OR, UNITED STATES, September 5, 2024 /EINPresswire.com/ -- Allied Market Research published a new report, titled, " Industry Sees Promising Growth by 2032 | The Photo Editing Software Market Size Reach USD 886.2 Million Globally." The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter’s Five Forces analysis, and competitive landscape. This study is a helpful source of information for market players, investors, VPs, stakeholders, and new entrants to gain thorough understanding of the industry and determine steps to be taken to gain competitive advantage.The global photo editing software market was valued at $449.2 million in 2023, and is projected to reach $886.2 million by 2032, growing at a CAGR of 7.7% from 2024 to 2032.
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The global photo editing software market is experiencing growth due to increase in use of social media, increased focus on visual content marketing, and rise in demand for personalized content. However, increasing piracy of photo editing software hinders the market growth.
The photo editing software market size is segmented into type, platform, end user, and region. On the basis of type, the market is divided into entry level, prosumer level, and professional level. As per platform, the market is segregated into macOS, windows, android and iOS. On the basis of end user, the market is divided into individual, commercial, and others. Region wise, the photo editing software market share is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
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The entry level segment is expected to grow faster throughout the forecast period. By type, the prosumer level segment held the dominant share in 2023, owing to its balance of advanced features and affordability. This segment appeals to both advanced amateurs and semi-professional photographers, driving its popularity and rapid growth in the photo editing software market. However, the entry level segment is projected to be the fastest growing segment from 2024 to 2032, owing to increase in accessibility and user-friendly features attracting casual and beginner photo editors.
The IOS segment is expected to grow faster throughout the forecast period. By platform, the windows segment held the dominant share in 2023, owing to its widespread use among professional photographers and graphic designers, extensive compatibility with various software, and robust performance capabilities that cater to advanced photo editing needs. However, the IOS segment is projected to be the fastest growing segment from 2024 to 2032, owing to increase in popularity of Apple devices, robust app ecosystem, and continuous innovation in mobile photo editing tools. This growth is fueled by user preference for high-quality, convenient, and user-friendly photo editing applications on iOS platforms.
The individual segment is expected to grow faster throughout the forecast period. By end user, the commercial segment held the dominant market share in 2023, owing to its widespread use in industries such as advertising, media, and entertainment. The businesses rely on advanced editing tools for high-quality content creation, branding, and marketing, driving significant demand and market growth in this segment. However, the individual segment is projected to be the fastest growing segment from 2024 to 2032, owing to rise in number of smartphone users and increase in popularity of social media platforms.
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North America dominated the market share in 2023, due to high levels of digitalization, strong purchasing power, and a large base of professional photographers. Asia-Pacific is a rapidly growing market, driven by an increase in smartphone adoption and interest in photography. Latin America and the Middle East & Africa show potential for growth, supported by rising disposable incomes and expanding access to technology. Each region presents unique opportunities and challenges, shaping the overall landscape of the photo editing software market.
The major players operating in the photo editing software market include ACD Systems International, Inc., Adobe Systems Inc., Corel Corporation, Cyberlink Corporation, DXO, MAGIX Software GmbH, ON1, Inc., Serif (Europe) Ltd., Skylum, ZONER, Inc.
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Key Takeaways
● The photo editing software market size study covers 20 countries. The research includes a segment analysis of each country in terms of value ($Million) for the projected period 2024-2032.
● More than 1, 500 product literatures, industry releases, annual reports, and other such documents of major energy storage system industry participants along with authentic industry journals, trade associations' releases, and government websites have been reviewed for generating high-value industry insights.
● The study integrated high-quality data, professional opinions and analysis, and critical independent perspectives. The research approach is intended to provide a balanced view of global photo editing software market forecast and to assist stakeholders in making educated decisions in order to achieve their most ambitious growth objectives.
Recent Key Strategies and Developments
● In May 2024, MAGIX Software GmbH, a German software and app provider, acquired a majority of the Sony Creative Software (SCS) products such as Vegas Pro, Movie Studio, Sound Forge Pro, and ACID Pro lines, which is accelerating the international growth of the company.
● In February 2023, Pixlr (Pixlr Pte Ltd.) , a leading photo-editing software, launched the latest version of its flagship suite of products, Pixlr Suite 2023. This new release offers a range of exciting features, making it the most powerful and user-friendly photo editing software.
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