Adobe ( ADBE Quick Quote ADBE - Free Report) has made Frame.io’s video collaboration platform available for Creative Cloud users in a bid to gain momentum.
The video collaboration platform has the ability to aid video editors and project stakeholders in seamless collaboration in the cloud.
The underlined platform features an integrated review and approval workflow for post production. This enables editors to easily get quick final approvals.
Apart from the video collaboration solution, Adobe introduced updates in After Effects and Premiere Pro so that users can work fast and efficiently.
The After Effects update includes Native M1 Support, Scene Edit Detection powered by Adobe Sensei, Extended Viewer and Binning Indicators for 3D Layers.
Conversely, the Premiere Pro update comprises Reimagined Import, Header Bar and Export tools, Auto Color powered by Adobe Sensei, Performance and Workflow Improvements, and New Free Adobe Stock Assets including thousands of HD video footage, motion graphics templates and more.
With Frame.io’s video collaboration solution, Adobe has expanded its presence in the booming visual collaboration platform software market.
The market growth is attributed to the increasing adoption of visual collaboration platform software by organizations amid the coronavirus pandemic owing to the increasing work-from-home trend.
According to a report by Research Nester, the global visual collaboration platform software market is expected to hit $1.67 billion by 2028, witnessing a CAGR of 17.4% between 2021 and 2028.
Further, the recent move has helped Adobe to strengthen its position in the video editing software market, which is growing due to the rising adoption of Over The Top platforms, an increasing number of YouTubers and social media influencers as well as the growing usage of cloud-based video editing software.
Per a report by Market Research.com, the global video editing software market is likely to touch $906 million by 2027, registering a CAGR of 8.7% during the 2021-2027 period.
With the latest updates in After Effects and Premiere Pro, Adobe has added strength to its portfolio of innovative offerings. Also, the company keeps bringing advanced solutions to better serve customers.
Recently, ADBE introduced a unified web and mobile solution named Creative Cloud Express to help users create and share rich multimedia content.
Additionally, the company added advanced capabilities in Experience Cloud to help retailers strategize for peak sales periods and provide more personalized customer experiences.
It also unveiled an advanced enterprise application named Real-time Customer Data Platform, designed for first-party data-driven customer acquisition and engagement.
We believe that these growing efforts by Adobe will contribute to top-line growth in the upcoming period.
Zacks Rank & Stocks to Consider
Currently, Adobe carries a Zacks Rank #3 (Hold).
Investors interested in the broader technology sector can consider stocks like
Apple ( AAPL Quick Quote AAPL - Free Report) , Jack Henry & Associates ( JKHY Quick Quote JKHY - Free Report) and Broadcom ( AVGO Quick Quote AVGO - Free Report) , each carrying a Zacks Rank #2 (Buy). You can see . the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here
Apple has gained 27% in the past year. The long-term earnings growth rate for AAPL is currently projected at 12.5%.
Jack Henry & Associates has gained 30.5% in the past year. JKHY’s long-term earnings growth rate is currently projected at 17%.
Broadcom has gained 22.6% in the past year. The long-term earnings growth rate for AVGO is currently projected at 14.5%.