Global Computer Graphics Market: Snapshot
The global computer graphics market is teeming with regional players who have a solid foothold over local market and a few large multinationals that together hold a sizeable chunk of the market share. This makes the competitive landscape fragmented in nature. At present, competition in the market is moderate. In the next couple of years, however, it is expected to heat up on account of mergers and acquisitions and entry of new players due to easy availability of low cost labor.
At the forefront of driving growth in the global computer graphics market is the booming media and entertainment industry. Rising application of image processing and 3D animation effects in media and entertainment industry and robust demand for computer graphics software in fashion designing, automobile, construction, and other manufacturing industries is predicted to take the market forward. Posing a roadblock to the market, on the other hand, is the need to change hardware because of constant upgrades to 3D computer graphics software which results in added cost burden in developing new and enhanced graphical content.
As per a report by Transparency Market Research, the global computer graphics market is likely to rise at a steady 5.5% CAGR between 2016 and 2024 to become worth US$211.60 bn by 2024 from US$130.91 bn in 2015.
High Cost of Crucial Components Makes Hardware the Leading Component Segment
The global computer graphics market can be broadly divided into hardware and application software based on the component. Hardware segment is comprised of all the crucial hardware needed to underpin different computer graphics application software, tools and technologies. Hardware components include motion capturing systems graphic cards, Graphic Processing Units (GPU), RAM and storage, workstations including processor (CPU), game consoles, and portable devices including 3D scanners. The hardware component is expected to lead the market on account of the expensiveness of critical components.
The application software segment, on the other hand, consists of packaged software, plug-in-software, and Software Development Kits (SDK). Some such application software are Revit, 3D Max design Studio, AutoCad, Maya, Powtoon, Rhino 3D, Adobe illustrator, C-DESIGN fashion, CorelDRAW, Vetigraph, etc. In the upcoming years, the application software segment is slated to outpace its hardware counterpart.
Outsourced Work Leads to Asia Pacific Rising to a Prominent Position
From a geographical standpoint, North America, led by the U.S. and Canada, dominates the global computer graphics market. The two countries are home to many big names in visual effects (VFX) such as Walt Disney Animation Studios, DreamWorks, Warner Bros Animation, etc.
Asia Pacific again, powered by China and India, is another key region in the global computer graphics market. This is on account of numerous local and regional manufacturers of computer graphics hardware and software developers. Furthermore, large amount of work outsourced from North America and European is also supporting the region’s growth. The regions ever-expanding entertainment industry is serving to catalyze growth in the computer graphics market too.
In Europe, Germany, the U.K., and France are primarily driving growth in the market. This is because of the many animated films being produced in Germany and the tax incentives for animation, video games, and support from government in the U.K.
Some of the prominent names in the global computer graphics market are Microsoft Corporation, Intel Corporation, Advanced Micro Devices (AMD), Inc., ARM Ltd., Adobe Systems Ltd., Imagination Technologies Limited, Sony Corporation, Nvidia Corporation, Siemens PLM Software, Autodesk Inc., and Dassault Systèmes SA.
Global Computer Graphics Market: Overview
A detailed scrutiny of the computer graphics industry reveals its pervasiveness across a multitude of domains. 3D animation has transcended as the indispensable element in a range of fields which further elevates the market for computer graphics. Hardware has always taken the prime spot in computer functions as against software which further escalates the prospects of the market for computer graphics. Even the media and entertainment industry has been under the siege of computer graphics, 3D animation, and digital imagine which places the market for computer graphics on the pedestal. There is a rampant spilling of employability across a major chunk of arenas which has consolidated the market for computer graphics. Even far-fetching arenas such as fashion designing, constructions, manufacturing, and, electrical are under the siege of computer graphics.
The market is segmented by components, applications, and geography. Each of the segments has a high density with a range of sub-segments.
The report has been elucidated with historical data, future projections, and key trends that help in giving a purview of the market. Moreover, each minute analysis was carried out with a high level of precision to ensure integrity of information.
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Global Computer Graphics Market: Key Trends and Prospects
The recent upsurge in the global market for computer graphics ensues a range of factors including the commendable expansion of the gaming industry. Moreover, the media and entertainment industry now forms the crux of people ’s lives and there are an increasing number of aficionados of animated movies, designs, and depictions. This has birthed integral vitality for the computer graphics market which is reaping the benefits of an exponential rise in demand. Computer hardware is extensively used across a host of fields encapsulating constructions, manufacturing, and automobiles which further expounds the growth of the market.
Despite the phenomenal expansion of the market, there are challenges that need to be mitigate in order to continue the affluence of the market. The 3D graphic software undergoes perpetual upgradation which also calls for a replacement of hardware to support it. This crops up additional costs and obstructs demand in the market. Moreover, the computer graphic software is expensive and consumes handsome amounts of money, which adds to the woes of the market for computer graphics.
Irrespective of the pitfalls, the technological advancements are expected to compensate for the loss in the market. It is anticipated that the dexterous research efforts would soon invent economical hardware and software junctures, thus, enhancing the productivity of the market. Furthermore, the propensity towards computer games seems irreversible which would keep bolstering the market.
Global Computer Graphics Market: Regional Outlook
The global computer graphics market is majorly held by North America wherein U.S. and Canada host the mammoth names like DreamWork and Walt Disney Studios. In Asia Pacific, there is chunks of work outsourced by western regions such as Europe, which propels the market. There is also a wide presence of local manufacturers that elevates the market. The entertainment industry is also booming in Asia Pacific, which further expands the market. In Europe, the filming of movies and documentaries especially in Germany adds to the bright prospects of the market. In the U.K., the government is offering incentives for video games and animated arenas.
Global Computer Graphics Market: Competitive Landscape
The huge market players in the global computer graphics market coexist with the local players which makes the market highly fragmented. While the key former enjoys a stronghold in the market, the latter also has a substantial influence in their regional territory. It is expected that the low cost of labor especially in the emerging economies would prompt an influx of small and medium players in the market, which signifies cut-throat competition in the future. Mergers, strategic agreements, and acquisitions are prognosticated to gain momentum in the coming years. The prominent market players include Autodesk Inc., Microsoft, Nvidia Corp., Intel Corp., Sony Corp., Siemens, and Adobe.
Global Computer Graphics Market: by component
Global Computer Graphics Market: by application
- Image processing
- User Interfaces
Global Computer Graphics Market: by geography
- South America
- Rest of South America
- Asia Pacific
- Rest of APAC
- North America
- Rest of North America
- Middle East and Africa
- Saudi Arabia
- South Africa
- Rest of MEA