NEW CASTLE, Delaware, Aug. 13, 2024 (GLOBE NEWSWIRE) -- Allied Market Research published a report, titled, "Photo Editing Software Market by Type (Entry Level, Prosumer Level and Professional Level), by Platform (MacOS, Windows, Android and IOS), and End User (Individual, Commercial and Others): Global Opportunity Analysis and Industry Forecast, 2024-2032". According to the report, the photo editing software market was valued at $449.2 million in 2023, and is estimated to reach $886.2 million by 2032, growing at a CAGR of 7.7% from 2024 to 2032.
Prime determinants of growth
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.
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Report coverage & details:
| Report Coverage | Details |
| Forecast Period | 2024–2032 |
| Base Year | 2023 |
| Market Size in 2023 | $449.2 billion |
| Market Size in 2032 | $886.2 billion |
| CAGR | 7.7% |
| No. of Pages in Report | 250 |
| Segments Covered | Type, Platform, End User and Region |
| Drivers |
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| Opportunities |
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| Restraint |
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Segment Highlights
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.
Regional Outlook
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.
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Major Industry Players: -
- ACD Systems International, Inc.
- Adobe Systems Inc.
- Corel Corporation
- Cyberlink Corporation
- DXO
- MAGIX Software GmbH
- ON1, Inc.
- Serif (Europe) Ltd
- Skylum
- ZONER, Inc
The report provides a detailed analysis of these key players in the global photo editing software market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, acquisition, and others, to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
Recent Development:
- In March 2024, Canva acquired design platform Affinity to bring professional design tools to every organization. The acquisition significantly bolsters Canva’s vision to build the world’s most comprehensive suite of visual communication tools
- In September 2022, Adobe announced Photoshop Elements 2023 and Premiere Elements 2023, including all-new features that make creative photo and video editing simple for users at any skill level.
- In December 2021, ACD Systems International launched their new standalone Mul-Document Interface (MDI), Gemstone. Gemstone enhances the editing experience for users of the software with its layered editor and updated RAW support, adding a new dimension to their editing capabilities.
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