PUBLISHER: Allied Market Research | PRODUCT CODE: 1566775
PUBLISHER: Allied Market Research | PRODUCT CODE: 1566775
Photo Editing Software Market
The photo editing software market was valued at $449.2 million in 2023 and is projected to reach $886.2 million by 2032, growing at a CAGR of 7.7% from 2024 to 2032.
Photo editing software is a tool that allows users to alter digital images as per requirement. The software provides choices from basic editing solutions such as cropping and color & lighting adjustments to advanced edits such as blending effects and artistic filters. The value of photo editing software has become highly significant such that it is being used for both professional and personal purposes. The software observed a high demand in the graphic design and marketing companies.
Increase in the popularity of social media platforms is boosting the demand for high quality visual content, driving the growth of the photo editing software. In addition, the usage of digital marketing strategies is significantly expanding across diverse sectors, hence boosting the need for cutting-edge photo editing software. The assimilation of AI algorithm in the software is an emerging trend poised to transform the landscape of editing in the future. Along with the modification of pictures, AI is now being utilized to integrate immersive features into images and craft them through textual descriptions. By automating the basic editing tasks, AI is expanding the creative vision of editors.
However, the high cost of advanced software limits various budget-sensitive editors and organizations from investing, hence restraining the development of the photo editing software market. Moreover, concerns regarding consent and privacy are arising due to the misuse of AI capabilities, hampering the development of the market. For instance, a multinational company in Hong Kong, China suffered a loss of US$25.6 million owing to a scam associated with AI-powered deepfake technology. The scammers created fake images of the CEO & some other employees of the company and directed another employee through video conferencing to transfer the amount. This advanced tech theft is discouraging the usage of AI in photo editing software and constraining the market landscape.
Segment Review
The photo editing software market is segmented into type, platform, end user, and region. On the basis of type, the market is divided into entry level, prosumer level, and professional level. As per platform, it is classified into MacOS, Windows, Android, and IOS. Depending on end user, it is categorized into individual, commercial, and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Key Findings
On the basis of type, the prosumer level segment dominated the market in 2023.
As per platform, the Windows segment acquire a high stake in the market in 2023.
Depending on end user, the commercial segment was the highest shareholder in 2023.
Region wise, North America was the highest revenue generator in 2023.
Competition Analysis
The leading players operating in the global photo editing software market include ACD Systems International, Inc., Adobe Systems Inc., Corel Corporation, Cyberlink Corporation, DXO, MAGIX Software GmbH, ON1, Inc., Serif (Europe) Ltd, Skylum, and ZONER, Inc. These major players have adopted various key development strategies such as business expansion, new product launches, and partnerships, to strengthen their foothold in the competitive market.
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