Creative Software Market Size Worth $13.42 Billion By 2028

 Creative Software Industry Overview

The global creative software market size is expected to reach USD 13.42 billion by 2028, registering a CAGR of 6.8% during the forecast period from 2022 to 2028 according to a new report by Grand View Research, Inc. The demand for technologically advanced solutions to create effective audio and video content is rising globally. As content production showcases immense growth, companies and solution providers are under constant pressure to show a profit. Video is considered one of the most effective ways of customer engagement. The global market has benefited from this trend.

 

Creative Software Market Segmentation

Grand View Research has segmented the creative software market based on deployment, type, and region.

 

Based on the Deployment Insights, the market is segmented into Cloud and On-Premises

  • The cloud deployment accounted for around 65% of the total revenue share in 2021. The advancements in cloud computingtechnology 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.

 

Based on the Type Insights, the market is segmented into Sound & Video Recording Software, Image & Video Editing Software, Graphics & Illustration Software, Desktop Publishing Software, Others

  • 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 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. 
  • The image & video editing software segment is expected to expand with the 2ndhighest 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.

 

Creative Software Regional Outlook 

  • North America
  • Europe
  • Asia Pacific
  • Central & South America
  • Middle East & Africa

 

Key Companies Profile & 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

 

Order a free sample PDF of the Creative Software Market Intelligence Study, published by Grand View Research.

 

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