NEW YORK, April 21, 2021 /PRNewswire/ —
The “Photo Editing Software Market” report has been added to Technavio’s library which consists of more than 17000 reports from 150+ industries.
The photo editing software market is poised to grow by USD 394.39 million between 2020-2024, progressing at a CAGR of about 8% during the forecast period.
To enhance user experience and render web pages on all platforms including personal computers, laptops, smartphones, and tablets, dynamic and interactive websites are required. The responsive website design is used to achieve this goal. Website developers widely use photo editing software to edit stock photos, convert photo format type, standardize images as per size and style, provide text information onto photos, and size photos as per web page speed and performance. The development of images according to mobile-based user experience, social media platforms, and e-commerce can be achieved with the help of photo editing software, which provides a unified web experience for viewers. Therefore, the growth in web designing services is a key growth driver for the photo editing software market.
Buy 1 Technavio report and get the second for 50% off. Buy 2 Technavio reports and get the third for free.
36% of the market’s growth will originate from North America during the forecast period. The US is a key market for photo editing software in North America. Market growth in this region will be faster than the growth of the market in MEA and South America. The photo editing software market growth in North America can be attributed to the rise in social media advertising.
Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio’s in-depth research has direct and indirect COVID-19 impacted market research reports.
Know About the Key Opportunities and Growth of Photo Editing Software Market in Application Software Industry
The photo editing software market is segmented by end-user (commercial and personal) and geography (APAC, Europe, MEA, North America, and South America).
Commercial end-users account for the largest photo editing software market share in the end-user segment. Enterprises, professional photographers, social media marketing agencies, e-commerce websites, and fashion houses are the commercial users of photo editing software. Enterprises and advertising agencies are investing heavily in social media marketing strategies due to the growing use of various social media platforms by people around the world. Images are developed and optimized to make them more engaging by social media marketing agencies because major activities on social media are viewing, posting, and sharing visual images. These factors boost the adoption of photo editing software. However, the photo editing software market share growth by the commercial segment will be slower than the personal segment.
Key Market Dynamics:
- Increasing smartphone penetration
- Growth in web designing services
- Growing investments and partnerships
- Availability of free photo editing software
- Increasing piracy of photo editing software
- High costs of commercial photo editing software
- Increasing applications of AI in photo editing process
- Use of AR in photo editing
- Rise in adoption of cloud-based photo editing software
- ACD Systems International Inc.
- Adobe Inc.
- Alphabet Inc.
- Apple Inc.
- Corel Corp.
- CyberLink Corp.
- DxO Labs
- Inmagine Group
- Lightricks Ltd.
- Samsung Electronics Co. Ltd.
Related Reports on Information Technology Industry Include:
Audio and Video Editing Software Market by End-user and Geography – Forecast and Analysis 2020-2024: The audio and video editing software market size has the potential to grow by $ 2.5 billion during 2020-2024, and the market’s growth momentum will accelerate during the forecast period. To get extensive research insights: Receive FREE Sample Report in Minutes!
Photo Detector Market by Product, End-user, and Geography – Forecast and Analysis 2020-2024: The photo detector market size has the potential to grow by USD 1.87 billion during 2020-2024, and the market’s growth momentum will accelerate during the forecast period. To get extensive research insights: Receive FREE Sample Report in Minutes!
Digital Photo Frame Market by Distribution Channel and Geography – Forecast and Analysis 2020-2024: The digital photo frame market size has the potential to grow by USD 9.40 million during 2020-2024, and the market’s growth momentum will accelerate during the forecast period because of the steady increase in year-over-year growth. To get extensive research insights: Receive FREE Sample Report in Minutes!
Photo Printing and Merchandise Market by Product, Device, Distribution Channel, and Geography – Forecast and Analysis 2020-2024: The photo printing and merchandise market size has the potential to grow by USD 4.68 billion during 2020-2024, and the market’s growth momentum will accelerate during the forecast period because of the steady increase in year-over-year growth. To get extensive research insights: Receive FREE Sample Report in Minutes!
Photography Services Market by Application and Geography – Forecast and Analysis 2021-2025: The photography services market size has the potential to grow by USD 10.88 billion during 2021-2025, and the market’s growth momentum will accelerate at a CAGR of 4.85%. To get extensive research insights: Receive FREE Sample Report in Minutes!
Key Topics Covered:
- Executive Summary
- Market Landscape
- Market Sizing
- Five Forces Analysis
- Market Segmentation by End-user
- Customer landscape
- Geographic Landscape
- Vendor Landscape
- Vendor Analysis
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
View original content to download multimedia:http://www.prnewswire.com/news-releases/global-photo-editing-software-market-2020-2024-technavio-301273883.html