According to our latest market research study on “Photo Editing Software Market Forecast to 2027 – COVID-19 Impact and Global Analysis- by Type (Entry Level, Prosumer Level, and Professional Level), End User (Individual and Commercial), Platform (macOS, Windows, Android, and iOS), and Geography,” the market was valued at US$ 773.3 million in 2019 and is projected to reach US$ 1,267.7 billion by 2027; it is expected to grow at a CAGR of 6.4% from 2020 to 2027.The report highlights the key factors driving the market growth, and prominent players and their developments in the market.
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Broad communities of users take advantage of photo editing apps for commercial projects. Considering the fact that images play a vital part in business, majorly in the marketing world, the use of photo editing software is essential. Companies are conducting their business online with the help of paid ads and social media posts. The rising demand for graphic content for marketing campaigns is contributing heavily towards the use of photo editing software. In context to its consumers, visual users, photographers, artists, and other professionals make use of various photo editing software such as Adobe, PicMonkey, Adobe Photoshop, and GIMP. Additionally, broad array of SMEs and large enterprises, company professionals, and individuals are using photo editing software. The global commercial segment is expected to reach US$ 609.1 million by 2022, which is expected to create a significant global demand for photo editing.
COVID-19 Impact on Photo Editing Software Market
According to the World Health Organization (WHO) report, the US, Brazil, India, and Russia are some of the worst affected countries due to the COVID-19 outbreak. The COVID-19 crisis is anticipated to have a positive impact on the market in 2020. Photography and photo editing industry has been flourishing at an impressive pace in the countries due to its high adoption among commercial and individual end users. With a large number of companies continuing to adopt remote working and increasing demand for online work flow, the need for advanced photo editing tools has increased among end users in the past few months.
The market players focus on new product innovations and developments by integrating advanced technologies and features in their products to compete with the competitors.
In 2020, Capture One introduced new development of Capture One 20 driven by changing roadmap. The new update has bought brand new heal & clone tools which lowers the need for external retouching applications and new Before & After Tool along with boosting efficiency.
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