The global computer graphics market size was evaluated at $25.5 Billion in 2022 and is slated to hit $35.1 Billion by the end of 2030 with a CAGR of nearly 9.1% between 2023 and 2030.
The computer graphics industry research is an essential resource for information on market potential, challenges, and growth factors. The study on the computer graphics business includes a thorough examination of the competitive environment as well as market geography. The paper also investigates the stakeholder and investor arena to assist businesses in making data-driven decisions.
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Overview of the computer graphics market
Utilising computers, computer graphics creates visuals and works of art. Today, computer graphics have established themselves as a key technology in computer displays, digital art, online photography, and video games. For computers, a wide range of specialised software and hardware are created, with displays of the latter made possible by computer graphics technology. Implicit surface visualisation with ray tracing, 3D modelling, vector graphics, user interface design, GPU design, computer vision, sprite graphics, shaders, and other techniques are also included in computer graphics. Computer graphics are founded on the principles of geometry, physics, and optics. According to reports, computer graphics may present images to consumers in a clear, simple, and highly effective way.
Key Insights :
• Our research analyst’s analysis indicates that over the forecast period (2023-2030), the worldwide computer graphics market will develop at an average yearly growth rate of about 9.1%.
• The market for computer graphics was estimated to be worth roughly $25.5 billion in sales in 2022, and it is anticipated to grow to $35.1 billion by 2030.
• The booming use of computer graphics for image processing and 3D animation in the media & entertainment industry is expected to drive significant expansion in the global market over the coming years.
Global market trends will be driven by rising demand for 3D animation effects in movies and the media & entertainment industry.
The media & entertainment industry’s rapid adoption of computer graphics for 3D animation and image processing will drive the trends in the worldwide computer graphics market. The increase in the use of smartphones, tablets, iPhones, and MacBooks will drive the market’s global expansion. The use of computer graphics is becoming more prevalent in the fields of civil engineering, healthcare, automotive, manufacturing, and clothing, which will broaden the market’s potential for growth on a global scale. The use of new software with various settings by customers may change, which will enhance the growth of the worldwide computer graphics market.
The need to update 3D computer graphics frequently may impede international industrial expansion.
The scope of expansion for the computer graphics sector globally will be constrained by the requirement for ongoing 3D computer graphics upgrades, which will result in hardware costs. Additionally, since designing is mostly concerned with graphical software, using computer graphics is not user-friendly. In turn, this can prevent the worldwide industry from growing.
The availability of computer graphics at affordable prices may create new market expansion opportunities.
In the upcoming years, the booming video game and film industries will provide fresh growth opportunities for the worldwide computer graphics market. The market is projected to experience new growth opportunities due to computer graphics’ low cost.
Increasing the price of improving visual effects could be difficult for the worldwide industry to handle.
A major obstacle to the expansion of the global market could be the rise in costs associated with enhancing the visual effects of films and the incapacity of computer graphics to comprehend or imitate real-world problems.
The Global Computer Graphics Market is segmented based on product, application and region.
Global Computer Graphics Market: Product Segment Analysis
● Digital Video
Global Computer Graphics Market: Application Segment Analysis
● Industrial Application
Recently Occurring Events :
• AMD announced the release of next-generation RDNA GPUs towards the end of the year in the first quarter of 2022. Additionally, in the upcoming years, the new product introduction will assist it in growing its Radeon 6000 series portfolio. The decision will fuel the global expansion of the computer graphics industry.
• The new graphics technology Intel Arc was unveiled in the first half of 2022. The move aims to compete with both AMD and Nvidia. In addition, the first graphics card for previewing video has been released as part of the new graphics technology. Along with significantly advancing the company’s computer graphics business, the project will give the company a competitive advantage over its competitors.
The computer graphics market profiles key players such as:
● Walt Disney Animation Studios
● Autodesk Inc
● Mentor Graphics Inc
● Oracle PLM
● Advanced Micro Devices (AMD) Inc
● Warner Bros Animation
● Siemens PLM Software
● Sony Corporation
● Imagination Technologies Limited
● Intel Corporation
● Industrial Light & Magic
● Adobe Systems Ltd
● ARM Ltd
● Nvidia Corporation
● Dassault Systèmes SA
● Microsoft Corporation
● SAP PLM
● DreamWorks Animation
● 3D PLM
In 2023-2030, the Asia-Pacific computer graphics market will account for a large portion of the global market share.
In the years to come, the Asia-Pacific region, which had 75% of the worldwide market share in 2022, is expected to rule the computer graphics industry. The vibrant media and entertainment sectors in nations like China, Indonesia, Japan, and India may have an impact on the regional market expansion. The growth of the market in the area will be driven by an increase in consumer per capita income. For the record, the Asia-Pacific region’s media and entertainment market is predicted to grow to $50 billion by 2030.
On the other hand, it is anticipated that North American computer graphics will have a significant growth during the coming years. The easy access to hardware components at lower prices in nations like the U.S. and Canada may be to blame for the industry’s expansion in North America. Additionally, the sub-continent’s abundance of visual effects companies will fuel a boom in the local industry.
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