Creative Software Market Size, Share & Trends Analysis Report By Deployment, By Type (Sound & Video Recording Software, Image & Video Editing Software), By Region, And Segment Forecasts, 2022 - 2028

Report Overview

The global creative software market size was valued at USD 8.47 billion in 2021 and is expected to expand at a compound annual growth (CAGR) of 6.8% from 2022 to 2028. The growth of the global market is mainly driven by the increasing requirement for transcoding methodologies to distribute audio and video files to the large number of end-users, the broad expansion of online video and audio recording platforms, and the rising need for on-demand services. Additionally, a wide range of prospects in small and medium-sized enterprises (SMEs) and rapid expansion in the education sector are likely to provide enormous market potential in near future.

The primary reasons driving the expansion are predicted to be technological proliferation and innovation in both hardware and software services. The increasing use of internet services, as well as the widespread availability and accessibility to creative software, are likely to boost market growth over the forecast timeline. In the global market, software and solution providers are continually improving and pushing the technical limitations in terms of real-time rendering of audio and images, which is likely to drive development even further.

The growing adoption of cloud-based solutions to increase the effectiveness and quality while recording and editing audio and video streams are influencing the global market positively. Additionally, the growing trend of audio and video streaming in North America and Europe is further contributing to the market development. The rising adoption of mobile phones and the increasing popularity of social media platforms and other digital channels for content creation and promotion are expected to boost the industry’s development.

Audio and video recordings and pre-recorded webinars and courses are being widely used in the educational and academic sector to assist the learning process. Students' capacity to recall knowledge is significantly impacted by visual records. As a result, universities, schools, and institutions are increasingly producing multimedia content and presenting it via video presentations, utilizing technology to efficiently teach information. This is expected to uplift the market in the coming years. In addition to that, the broadcaster and content creators have been encouraged to deploy creative solutions and services to improve consumer satisfaction due to the rising demand for high definition 4K picture quality.

During the coronavirus (COVID-19) pandemic, the use of free audio and video editing software is on the rise. For example, Adobe Inc., a leading market player, has launched a free trial for its Adobe Creative Cloud, professional-grade video editing and music-making software. Due to the COVID-19 lockdown, online businesses, budding YouTubers, and social media influencers are generating more online content. As a result, video and audio editing software vendors are expanding their free trial period offerings. The need for audio and video editing software has surged as a result of a significant shift toward work-from-home demand. Audio and video editing software vendors are making more free tools available so that customers can get hands-on experience with the software and increase their conversions.

Type Insights

The sound and video recording software segment captured the largest market share in 2021. The worldwide audio and video recording software is predicted to develop significantly in the near future, owing to the growing digitalization of television broadcasts, greater usage of cloud-based solutions, and rising demand for high-definition audio and video content. The expansion in the number of broadcast channels and the proliferation of smartphones and other smart gadgets are driving the growth of the segment. Additionally, the growth of OTT and streaming technology will fuel the market growth.

The graphic and illustration software segment is expected to exhibit the highest CAGR of 8.6% in the forecast period. Computer-generated imagery (CGI) is rapidly being utilized to create animated visual material in sci-fi films, animated films, games, and other forms of entertainment. The introduction of 3D computer graphics has revolutionized the graphic designing and illustration sector, which has now entered a new phase. Graphic designing and illustration software is widely being used for various purposes including character development, and special effects, among others. Another key reason projected to boost demand for graphics software in the entertainment industry advances in computer technology, which will allow for the creation of production-ready picture models.

The image & video editing software segment is expected to expand with the 2^nd highest CAGR of 7.5% from 2022 to 2028. Rising demand for editing software solutions and easily accessible image and video editing software solutions are driving the growth of the image and video editing software segment during the forecast period. The rising adoption of smartphones globally is supporting the growth of this segment. Easily accessible image and video editing software enable artist and professionals to edit the image and video offline as well as online. All the factors altogether are expected to drive the growth rate of the image and video editing software segment of creative software.

Deployment Insights

The cloud deployment accounted for around 65% of the total revenue share in 2021. The advancements in cloud computing technology have revolutionized the creative software marketplace and enabled high-quality content creation in recent years. To offer higher bandwidth and efficiency, creative solutions and service providers are offering cloud-based solutions. Streaming service providers have chosen cloud-based deployment over on-premises because it can handle more substantial data content while also giving a better viewer experience. Additionally, cloud-scaling aids in expanding bandwidth while addressing buffering and latency concerns. Because most businesses lack the networks and facilities to handle high volumes of traffic in internet streaming, there is a tremendous demand for cloud-based creative solutions.

The on-premises deployment segment captured a significant market share in 2021. Large enterprises all around the world are choosing the on-premises deployment model since it allows them to keep business-critical data and give improved data protection to servers. During the projection period, the segment is expected to be driven by an increase in expenditures in enterprise software and creative solutions.

Regional Insights

North America captured the largest market share of around 44% in 2021. The regional growth is mainly driven by rapid technological advancements, rising demand for audio-video recording and editing platforms in the music, live-streaming, and entertainment industry, and the existence of several major creative software providers in the region. As a result of the influence of COVID-19 in North America, there was an unexpected rise in demand for innovative solutions and software. Because of growing acceptance across various end-users throughout the years, the U.S. is regarded as one of the biggest investors and pioneers in online video and audio platforms. With the rising acceptance of remote learning, the area is also gaining traction for e-learning, which provides students with more flexibility and convenience thus fueling the market growth. 

Asia Pacific is likely to expand at the highest CAGR of 7.6% from 2022 to 2028 due to the strong economic growth and rising demand for creative solutions among companies and content creators. Because of their improved technical infrastructure, the countries in this area are likely to grow significantly. Developing countries are adopting video recording and editing solutions and technologies to simplify and optimize their commercial operations. Furthermore, the region's highly competitive market position is projected to spur the development of creative software solutions growth, which will improve the total return on investment for media, entertainment, and education companies. Due to the availability of significant growth potential and a strong economic outlook, a number of large firms are quickly developing their cloud operations in the region.

Europe contributed a market share of more than 25% in 2021 to the global creative software market. Advanced technological advancements in information technology, rising demand for sound, audio, image, and video editing software solutions, and increasing demand for creative software tools and solutions from the artists and professionals across the European region. Increasing demand for cloud-based creative software solutions from the end-users is expected to contribute to the regional market. Moreover, the rising number of small and medium enterprises in the region is contributing to the growth rate during the forecast period.

Key Companies & Market Share Insights

Leading industry participants are investing in R&D initiatives to promote organic growth and market share. Companies are also creating new solutions to expand and strengthen their current portfolios as well as attract a new customer base. Businesses are opting for mergers and acquisitions, as well as strategic partnerships with other vendors operating the market space, to develop technologically advanced creative software solutions and gain a competitive edge in the market over their competitors. Some of the prominent players in the global creative software market are:

• Adobe Inc.

• MAGIX Software GmbH

• Corel Corporation

• CyberLink Corp.

• FXhome Limited

• TechSmith Corporation

• Nero AG

• Movavi Software Limited

• SONY CREATIVE SOFTWARE INC.

• Wondershare group

Creative Software Market Report Scope

Segments Covered in the Report

This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2017 to 2028. For this study, Grand View Research has segmented the global Creative Software market report based on deployment, type, and region:

• Deployment Outlook (Revenue, USD Million, 2017 - 2028)

  • Cloud 

  • On-Premises

• Type Outlook (Revenue, USD Million, 2017 - 2028)

  • Sound & Video Recording Software

  • Image & Video Editing Software

  • Graphics & Illustration Software

  • Desktop Publishing Software

  • Others

• Regional Outlook (Revenue, USD Million, 2017 - 2028)

  • North America

    • U.S.

    • Canada

  • Europe

    • U.K.

    • Germany

    • France            

  • Asia Pacific

    • China

    • India

    • Japan

  • Central & South America

    • Brazil

    • Argentina

  • Middle East & Africa

    • GCC

    • South Africa