Computer Graphics Market
Computer Graphics Market (Component: Hardware and Application Software; and Application: CAD, Image Processing, Entertainment, User Interfaces, and Others) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2020 - 2030
Press Release :
Advent of 3D Computer Graphics Redefines Computer Graphics Market
In the current day and age, due to advancements in digital technologies and high adoption of electronic devices, computer graphics have gradually gained considerable attention over the past couple of decades. In addition, evolving consumer trends and growing demand for improved graphical representation of characters, objects, etc. in films, animated movies, and among others, has accelerated innovations in the computer graphics market over the past decade– a trend that is expected to continue during the forecast period. Another factor that is likely to play a key role in boosting the overall prospects of the global computer graphics market is the surge in the number of smartphone, tablet, and computer users across the world, particularly in the Asia Pacific region.
The growing dependency on computers in practically all the core industrial domains, including automotive, building & construction, aerospace, defense, packaging, oil & gas is expected to provide abundant opportunities for players operating in the current computer graphics landscape during the assessment period. Advancements in computer programming and widening applications of computer graphics are projected to lay a solid foundation for market growth in the upcoming years. The demand for both, interactive as well as non-interactive computer graphics has witnessed consistent growth over the past few years and as per current estimates, the trend is expected to continue in the forthcoming years.
At the back of these factors, the global computer graphics market is expected attain a market value of US$ 308.6 Bn by the end of 2030.
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High Adoption from Gaming and Film Making Industry to Propel Market Growth
At present, computer-generated imagery (CGI) is increasingly being used to develop animated visual content in sci-fi movies, animated films, games, etc. The advent of 3D computer graphics has played an essential role in revolutionizing the computer graphics market, which has entered a new era. Computer graphics is extensively used in an array of applications across the film making sector such as character creation, adding special effects, etc. Advancements in computer hardware is another major factor that is expected to augment the demand for computer graphics in the entertainment sector to create production-ready imagery models.
In addition, as computer graphics are comparatively more cost-effective than creating real physical effects, the demand for computer graphics is projected to witness a substantial growth during the forecast period.
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The advent of 3D computer graphics has played a pivotal role in transforming the gaming sector, as game developers are increasingly focusing on the development of realistic games to fulfil the consumer demands. Over the past few years, game developers are increasingly emphasizing on recreating the computer graphics used in movies– another factor that is anticipated to provide an impetus for the growth of the computer graphics market during the assessment period. The entry of 3D computer graphics has primarily assisted game developers to develop realistic textures, compute physical characteristics, and sanction in-game interactions among objects in an efficient manner. Moreover, the growing popularity of online and multi-players gaming is expected to provide fertile opportunities for players operating in the computer graphics market.
Demand for Computer Graphics Likely to Grow amid COVID-19 Pandemic
The demand for computer graphics is expected to witness steady growth amid the ongoing novel COVID-19 pandemic. Due to stringent lockdowns imposed by governments as a measure to restrict the transmission of the novel coronavirus, commercial spaces, corporate offices, recreational centers, and other facilities have remained shut for a majority of the year 2020 around the world due to which, online traffic has witnessed an unprecedented surge in the first two quarters of 2020. Furthermore, online gaming has received tremendous boost amid the ongoing COVID-19 pandemic due to which, game developers are under considerable pressure to improve the visual content of their games– a factor that is expected to boost the expansion of the computer graphics market amid the ongoing pandemic. In addition, surge in the consumption of online content on OTT platforms is another factor that is anticipated to boost the overall prospects of the global computer graphics market during the COVID-19 era.
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The global computer graphics market is expected to expand at a healthy CAGR of ~6% during the forecast period. The market growth can be primarily attributed to a host of factors, including soaring demand from the entertainment sector, rising adoption from the gaming industry, advancements in computer programming, and entry of 3D computer graphics. Market players are projected to tap into opportunities across other industrial sectors to increase their market share and presence in the current market landscape. Market players should focus on capitalizing on the opportunities across the healthcare sector, particularly during the COVID-19 pandemic to gain a competitive edge.
Computer Graphics Market: Overview
- The global computer graphics market is projected to reach the value of US$ 308.6 Bn by 2030. The computer graphics market is projected to expand at a CAGR of ~6% from 2020 to 2030.
- Expansion of the computer graphics market can be attributed to the growing use of image processing and 3D animation effects in media and entertainment industry, and growing demand for graphic software across various industries.
- North America is anticipated to lead the global computer graphics market in terms of revenue, followed by Asia Pacific
- Online games have become easily accessible and are gaining traction, with the ubiquity of smartphones and tablets. This has brought a large number of free-to-play game models, which generated opportunities in the computer graphics market. Additionally, smaller game developers are collaborating with bigger entertainment companies to break into the gaming market by adding to the total number of games.
- The popularity of e-sports and games as a service, which functions using 3D animation and image processing technology, has grown to a great extent, thereby increasing the global number of online game players and providing new opportunities in the computer graphics software market to develop new games
Computer Graphics: Market Segmentation
- The global computer graphics market has been segmented based on component, application, and region. In terms of component, the computer graphics market is segmented into hardware and application software.
- Based on application, the computer graphics market is segmented into CAD, image processing, entertainment, user interfaces, and others (education graphics, etc.)
Computer Graphics Market: Regional Outlook
- The global computer graphics market, by region has been segmented into North America, Europe, Asia Pacific, Middle East & Africa (MEA), and South America. As compared to other regions, the computer graphics market in North America is expected to witness significantly healthy growth, with rate relatively closer to that of the Asia Pacific region.
- In North America, the U.S. and Canada are anticipated to drive the growth of the computer graphics market. This is due to the presence of large number of visual effects (VFX) companies, which includes some of the top VFX companies based out of the region such as Walt Disney Animation Studios, Warner Bros Animation, DreamWorks Animation, and Industrial Light & Magic. The region is also a center of computer graphics hardware component and application software providers including Autodesk Inc., Adobe Systems Inc., Microsoft Corporation, Siemens PLM Software, and many others.
- The U.S. states are primary production locations for a large number of film entertainment work. Additionally, government support for film entertainment with various programs designed to attract film production has resulted in the significant growth of the computer graphics market in the region.
- The report provides in-depth segment analysis of the global computer graphics market, thereby providing valuable insights at macro as well as micro levels. Analysis of major countries which offer considerable opportunities or account for significant share has also been included as part of geographic analysis of the computer graphics market.
- Key players profiled in the global computer graphics market include
- Advanced Micro Devices (AMD), Inc.
- ARM Ltd.
- Intel Corporation
- Imagination Technologies Limited
- Nvidia Corporation
- Sony Corporation
- Adobe Systems Ltd.
- Siemens PLM Software
- Autodesk Inc.
- Microsoft Corporation
- Dassault Systemes SA.
- Other significant players in the global computer graphics market include Matrox, Mentor Graphics, Inc., and 3D PLM-related software providers including, PTC, SAP PLM, and Oracle PLM
Computer Graphics Market – Scope of the Report
A latest study collated and published by Transparency Market Research (TMR) analyzes the historical and present-day scenario of the global computer graphics market, to accurately gauge its potential future development. The study presents detailed information about the important growth factors, restraints, and key trends that are creating the landscape for the future growth of the computer graphics market, to identify the opportunistic avenues of the business potential for stakeholders. The report also provides insightful information about how the computer graphics market will progress during the forecast period 2020-2030.
The report offers intricate dynamics about the different aspects of the computer graphics market that aids companies operating in the market in making strategic development decisions. TMR’s study also elaborates on the significant changes that are highly anticipated to configure the growth of the computer graphics market during the forecast period. It also includes a key indicator assessment to highlight the growth prospects of the computer graphics market, and estimate statistics related to the market progress in terms of value (US$ Bn).
The study covers a detailed segmentation of the computer graphics market, along with key information and a competitive outlook. The report mentions company profiles of key players that are currently dominating the computer graphics market, wherein various developments, expansion, and winning strategies practiced and executed by leading players have been presented in detail.
Key Questions Answered in TMR’s Report on the Computer Graphics Market
The report provides detailed information about the computer graphics market on the basis of comprehensive research on various factors that play a key role in accelerating the growth potential of the market. Information mentioned in the report answers path-breaking questions for companies that are currently functioning in the market and are looking for innovative ways to create a unique benchmark in the computer graphics industry, so as to help them make successful strategies and take target-driven decisions.
- How are key market players successfully earning revenue out of the advantages of computer graphics?
- What are the various trends in the global computer graphics market across the world and key market opportunities?
- What will be the revenue share of the global computer graphics market in terms of different applications?
- What will be the Y-o-Y growth of the computer graphics market between 2020 and 2030?
- What are the competitive strategies of key players operating in the global market?
- Which solution segment is expected to generate maximum revenue in the computer graphics market during the forecast period?
Research Methodology – Computer Graphics Market
The research methodology adopted by analysts for combining the computer graphics market report is based on detailed primary as well as secondary research. With the help of in-depth insights of the industry-affiliated information that is obtained and legitimated by market-admissible resources, analysts have offered riveting observations and authentic forecasts of the computer graphics market.
During the primary research phase, analysts interviewed industry stakeholders, investors, brand managers, vice presidents, and sales and marketing managers. On the basis of data obtained through the interviews of genuine resources, analysts have emphasized the changing scenario of the computer graphics market.
For secondary research, analysts scrutinized numerous annual report publications, white papers, industry association publications, and company websites to obtain the necessary understanding of the computer graphics market.
Computer Graphics Market – Segmentation
TMR’s research study assesses the computer graphics market on the basis of component, application, and region. Revenue data is estimated for all the below mentioned segments.