PORTLAND, Oregon, May 4, 2020 /PRNewswire/ -- Allied Market Research published a report, titled, "Screen and Script Writing Software Market by Deployment Mode (On-premises and Cloud-based), Platform Type (Desktop-based and Mobile-based), and End User (Personal and Business): Global Opportunity Analysis and Industry Forecast, 2019–2026." According to the report, the global screen and script writing software market was estimated at $80.83 million in 2018, and is expected to hit $235.87 million by 2026, registering a CAGR of 14.4% from 2019 to 2026.
Drivers, restraints, and opportunities
Introduction of online movies & TV series, increase in mobile-based screen & script writing software, and surge in awareness about numerous benefits provided by the program fuel the growth of the global screen and script writing software market. On the other hand, availability of open-source software restrains the growth to certain extent. However, rise in demand for screen & script writing software from Asia-Pacific region is expected to create multiple opportunities in the industry.
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The on-premises segment to dominate by 2026
Based on deployment mode, the on-premises segment contributed to around three-fifths of the global screen and script writing software market revenue in 2018, and is expected to maintain its dominance by the end of 2026. Surge in adoption of on-premise screen & script writing software by various professionals engaged in writing for television, motion pictures, theaters, video games, and radio drives the segment growth. The cloud-based segment, on the other hand, would grow at the fastest CAGR of 16.1% from 2019 to 2026, owing to the fact that key players of the market are launching cloud-based software with numerous features along with availability of several already existing cloud screen & script writing software in the market.
The desktop-based segment to retain its dominant share during the period
Based on platform type, the desktop-based segment accounted for more than half of the global screen and script writing software market share in 2018, and is anticipated maintain the lion's share through 2026. Availability of web-based screen and script writing software with more powerful capabilities has fueled their adoption among the end users which, in turn, has driven the segment growth. Simultaneously, the mobile-based segment would portray the fastest CAGR of 16.6% during the forecast period. A number of renowned vendors in the global market are launching software for mobile devices such as smartphones and tablets, which drives the growth of the segment.
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North America to lead the trail till 2026
Based on geography, North America garnered the highest share in 2018, holding nearly half of the global screen and script writing software market. This is due to the presence of presence of a large number of key players in the province. At the same time, the Asia-Pacific region would manifest the fastest CAGR of 17.8% throughout the estimated period. This is attributed to the fact that the region is witnessing a dynamic change in the adoption of analytic solutions and services across multiple verticals.
Key players in the industry
- Final Draft
- Nuvotech Limited
- WriterDuet, Inc.
- Literature and Latte Ltd.
- Celtx Inc.
- Mariner Software
- Storyist Software LLC
- Windward Studios Inc.
- Write Brothers Inc.
- StudioBinder Inc.
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