The photo editing software market in Europe is expected to grow from US$ 194. 7 million in 2019 to US$ 292. 9 million by 2027; it is estimated to grow at a CAGR of 5. 3% from 2020 to 2027. Virtual reality is an emerging technology that was initially aimed at gamers; however, the potential of this technology is now being explored in various other applications.
New York, Oct. 01, 2020 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Europe Photo Editing Software Market Forecast to 2027 - COVID-19 Impact and Regional Analysis By Type ; End User ; Platform ; and Country" - https://www.reportlinker.com/p05974370/?utm_source=GNW
For instance, the use of VR images in social media platforms and online content creation is growing at an impressive pace from past few years.
The rising demand for immersive content and experiences by customers is the key factor for the adoption of VR (360 degree) images in various industries. 360 VR photography, 360 spherical photography, and 360 panoramic photography are among the common names used for such photography. The demand for equipment and cameras capable of taking 360-degree images is also growing among prosumer and professional photographers. Real estate, hotels & resorts, businesses, online content & social media are among the key markets for VR photos. To enhance the appearance of VR/360-degree photos, there is a demand for photo editing software capable of editing such photos. At present, there are only a few companies such as Adobe and VeeR that offer photo editors for VR photos and VR being an emerging market could, provide a suitable opportunity for market players operating in the Europe photo editing software market.
Photo editing is being widely used by professionals and commercial users in industries such as fashion, news & media, social media, and entertainment for various purposes including marketing, and advertising, among others.A photo editing software provides users with various tools to enhance visual excellence of a photo such as facial recognition which is based on AI technology.
AI and its applications have been growing tremendously over the past few years in various industry verticals.AI is being utilized in numerous sectors ranging from retail, food & beverages, automotive to consumer electronics.
Photo editing software market players are gaining a huge scope by using AI to offer enhanced capabilities in their software products. The integration of AI capabilities in photo editing software offers a huge growth potential for the players in the photo editing software market and it is anticipated to drive the future growth of the market from 2020 to 2027.
The overall confirmed cases of COVID-19 in the European region reached 3.12 million with 2,08,000 overall deaths, as per latest WHO Situation Report- 184. Presently, Russia, UK, Spain, Italy, Germany, Turkey, and France are some of the major countries that are affected in a negative manner due to COVID-19 outbreak. The huge presence of fashion industry, media and entertainment, and advertising industries, which utilize photo editing software coupled with high adoption of such software among professional photographers are some of the major factors driving the growth of photo editing software market in the European region. In addition to this, the growing demand of innovative technology solutions such as 360 degree camera, VR photography, and AI in countries such as UK, France, and Germany will further complement the demand for photo editing software integrated with advanced editing features. Hence, despite the COVID 19 outbreak, the demand for photo editing software among commercial and individual end-customers is anticipated to rise in the coming years.
Overall size of the Europe photo editing software market has been derived using both primary and secondary sources.To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market.
The process also serves the purpose of obtaining overview and forecast for the Europe photo editing software market with respects to all the segments pertaining to the region.Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic.
The participants who take part in such a process, which include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers along with external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the Europe photo editing software market are Adobe, Corel Corporation, Serif (Europe) Ltd., and CyberLink Corp.
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