Audio Editor market size is projected to reach approximately $ 6.33 Billion by 2030, at a CAGR of 10.23% from 2022 to 2030. In the past decade, the market for audio editing software has grown due to increased demand for quality audio. Audio editing software is the type of program that is commonly used to manipulate audio and other voice documents. They include re-recording, amplifying, normalizing, and equalizing the audio of the file for improved quality, and clarity. Many types of audio editing software are currently on the market, which vary in quality and cost. Paid versions often out-quality free versions and can merge two separate voices into one bullet. Professional audio editors can also mix both voice recordings and stereo adjustment into one piece of work. Audio editing software can be installed on a range of devices, and come with filters for different features. They offer a bandpass filter, FFT filter, notch filter, and peak equalizer (EQ). They also help remix pre-recorded videos and modify them as needed in real-time.
COVID-19 Impact Analysis
There are a lot of industries around the world that have been negatively impacted over the last few months. This is due to many disruptions that have been experienced by the manufacturing and supply-chain operations as well as other precautionary restrictions that were enforced by the governing authorities due to the viral effect of the pandemic. The same applies to the global Audio Editing Software market. Additionally, consumer demand has been reduced as individuals are now keener on saving up rather than spending to try and make ends meet. The market has been affected to a very large extent due to this pandemic. These aforementioned revenue projections are expected to burden the global Audio Editing Software market over the forecast timeline. With the restrictive policies being lifted, it is expected that the global Audio Editing Software Market will experience a sustained recovery.
Audio Editor Market Dynamics
Increasing demand for high-quality audio components is driving the Audio Editor market. The media and entertainment industries in particular are leading the way, as evidenced by their increased investment in high-end hardware and software. On the other side, entertainment companies are focusing on high-quality audio and this is boosting the demand for audio editing software. However, the rise in copyright infringement of editing software might challenge the growth of this market.
⮚ Increased trend of Content Generation and OTT Subscription
One of the major drivers for the growth of this industry is the increase in content generation and the rise of online subscription video platforms. Content generation is a vital tool that organizations use to maintain and update web pages, social media posts, blogs, and more. The heavy use of social media has created high demand for quality audio. There is a high level of competition among the existing software vendors and this will likely increase the growth of the market. They will also enable vendors to explore new opportunities and generate revenue from their software by selling it to companies from different industries such as IT and Media and entertainment. This is expected to add fuel to the growth of the audio editing software market during the forecast period.
- Availability of free-to-use Open Software to Challenge the Growth
Free and open-source software is expected to inhibit growth in the audio editing software market during the forecast period. Audio editing software is usually sold in a one-time perpetual license or under a subscription model. Most startups and SMEs are price-conscious buyers because they simply cannot afford expensive commercial software. Due to the incompatibility of different codecs and other software, audio editing software developers are facing a challenging problem. Increasing fragmentation among developers is making interoperability between audio editing tools a major challenge for the global audio editing software market. Thus, companies that sell software are increasing prices to protect their revenue. As a result, the use of pirated software in this market is expected to hamper growth during the forecast period.
⮚ Decrease in the Prices of Paid Software to Augment the Growth
Increasing affordability and the decreasing prices of Audio Editing software are generating opportunities for growth in the market share of Audio Editing software. Prominent vendors of audio editing software, such as Apple, Adobe, and Avid, have become widely known for pricing their products aggressively. This has reduced the prices of these products to remain competitive in the market due to the presence of free and open-source alternatives. Apple pioneered the trend of making software affordable for SMEs, production houses, and individuals. Due to new price cuts and upgrades, more customers are opting for paid subscriptions to Audio Editing software.
Audio Editor Segment Overview
Based on Type, the Audio Editor market is segmented based on Open-Source and Paid. The Open-Source Segment is anticipated to account for the large market share. Open-source audio editing software is available online for everyone to download and use. They’re mostly preferred by beginners. This means that people can save money over buying expensive software in the long run too since open-source project licenses are typically free and not restrictive in the same way that paid software licenses can sometimes be.
By Deployment Type
Based on Deployment Type, the global Audio Editor market has been divided into Cloud and On-Premises. The Cloud segment is expected to hold the largest market share. End-Users in the market are beginning to use cloud-based audio editing software more and more. A cloud-based system means that users can access files from anywhere at any time. It’s very helpful in a situation where multiple people need to work on the same file and they are not altogether on the same premises. Cloud-based software provides a variety of pricing options. Users can pay either on a monthly or annual basis while opting for the cloud-based software.
Based on End-Use, the global Audio Editor market has been divided into Broadcasters & Publishers, Musicians, YouTubers, Universities, and Independent Artists. The Broadcasters & Publishers segment is expected to hold the largest market share. Broadcasters’ priority when it comes to providing content is making sure that their audio broadcasts are clear and unique. This will help viewers to better understand the content. Audio technology is becoming one of the most sought-after tools in broadcasting. Good sound can help viewers to engage in the content and silence can often enhance a video, which has led to a new demand for higher quality audio editing software.
Audio Editor Regional Analysis
Based on region, the global Audio Editor market has been divided into North America, Europe, Asia-Pacific, and the Rest of the World. North America is projected to dominate the use of the Audio Editor market followed by the Asia-Pacific and Europe regions.
North America Market
North America has the largest market share in the Audio Editor market due to the strong presence of major companies in the region and the increased adoption of editing software. North America is one of the most developed regions in the world, with a high rate and demand for quality products. This software removes glitches from audio and video recordings such as background sound of others, so everything sounds clearer.
Asia-Pacific is projected to have the highest growth in the audio editing software market because of its need for an ever-increasing volume and quality of video and audio content. Additionally, the rise in acceptance of audio and video editing software is likely to push up demand for Audio editing software.
The market comprises tier-1, tier-2, and local players. With their wide product portfolios, tier-1 and tier-2 players have a global reach. Because of their strategic innovations and broad regional presence, companies such as Acon AS, Adobe Inc., Animoto Inc., Apple Inc., Autodesk Inc., CyberLink Corp., Avid Technology Inc., Microsoft Corp., Sony Corp., and Steinberg Media Technologies GmbH., lead the global Audio Editor business. To increase their market position and attract a wide consumer base, the businesses are employing various strategies, such as growth, product releases, and alliances.
- Acon AS
- Adobe Inc.
- Animoto Inc.
- Apple Inc.
- Autodesk Inc.
- CyberLink Corp.
- Avid Technology Inc.
- Microsoft Corp.
- Sony Corp.
- Steinberg Media Technologies GmbH
Scope of the Report
Global Audio Editor Market, by Type
Global Audio Editor Market, by Deployment Type
Global Audio Editor Market, by End-Use
- Broadcasters & Publishers
- Independent Artists
Global Audio Editor Market, by Region
- North America
- Rest of Europe
- The Asia Pacific
- South Korea
- Rest of Asia Pacific
- Rest of the World
|2030: $ 6.33 Billion
|10.23% CAGR (2022-2030)
|Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
|Type, Deployment Type and End-Use
|North America, Europe, Asia-Pacific, Latin America, Middle East, Africa
|Acon AS, Adobe Inc., Animoto Inc., Apple Inc., Autodesk Inc., CyberLink Corp., Avid Technology Inc., Microsoft Corp., Sony Corp., and Steinberg Media Technologies GmbH
|Key Market Opportunities
|Decrease in the Prices of Paid Software to Augment the Growth
|Key Market Drivers
|Increased trend of Content Generation and OTT Subscription
REPORT CONTENT BRIEF:
- High-level analysis of the current and future Audio Editor market trends and opportunities
- Detailed analysis of current market drivers, restraining factors, and opportunities in the future
- Audio Editor market historical market size for the year 2020, and forecast from 2021 to 2028
- Audio Editor market share analysis at each product level
- Competitor analysis with a detailed insight into its product segment, financial strength, and strategies adopted.
- Identifies key strategies adopted including product launches and developments, mergers and acquisitions, joint ventures, collaborations, and partnerships as well as funding taken and investment done, among others.
- To identify and understand the various factors involved in the global Audio Editor market affected by the pandemic
- To provide a detailed insight into the major companies operating in the market. The profiling will include the financial health of the company past 2-3 years with segmental and regional revenue breakup, product offering, recent developments, SWOT analysis, and key strategies.
The study period of the global Audio Editor market is 2020 - 2030
The global Audio Editor market is growing at a CAGR of ~ 10.23% over the next 7 years
Asia Pacific is expected to register the highest CAGR during 2022-2030
North America holds the largest share in 2021
Acon AS, Adobe Inc., Animoto Inc., Apple Inc., Autodesk Inc., CyberLink Corp., Avid Technology Inc., Microsoft Corp., Sony Corp., and Steinberg Media Technologies GmbH are the major companies operating in the global Audio Editor market.
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