The global computer graphics market is segmented in to component which includes application software and hardware. Further, hardware segment is expected to occupy the top position in the market during the forecast period. The rise of the hardware segment is primarily driven by growing entertainment industry and growing demand for hardware components including GPU (graphic processing unit), graphic cards, RAM & storage and control processing unit. Moreover, rising demand for GPU chips in media industry is fueling the growth of this segment.
Global computer graphics market is expected to register a 6.1% CAGR over the forecast period. Moreover, the global computer graphics market was valued at USD 131.6 Billion in 2016 and is further expected to reach at remarkable revenue of 215.5 Billon by the end of 2024. The market is expected to expand on the back of growing demand for computer graphics application software such as Photoshop, illustrator, Picasa, CAD/CAM and more in a number of industries such as fashion designing, automobile, construction and manufacturing industries.
The Entertainment segment by application is likely to grow at maximum pace during the forecast period. Rising application of computer graphics in 3D visuals, animation movies and video games is a major factor which is driving the expansion of this segment. Further, rising sales of video games across the globe is also anticipated to foster the growth of this segment.
Rising adoption of computer based technologies
The adoption of computer based technologies in various industries including aerospace, automobiles and in business sectors is envisioned to fuel the growth of computer graphics market during the forecast period. Further, high inclination of population aging between 15-35 years and increasing spending on video games are also propelling the growth of global computer graphics market.
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Urbanization and industrialization in emerging economies
The increasing number of industries in emerging economies coupled with high demand for computer graphics software in these industries is a major driver to the growth of computer graphics market. Moreover, growing applications of computer graphics software in manufacturing processes such as CNC machining is also driving the growth of computer graphics market.
Although, high cost of computer graphics software and rising need for replacing hardware due to continuous upgrades in 3D graphics software are some of the factors that are likely to inhibit the growth of the computer graphics market in the near future.
The report titled “Computer Graphics Market: Global Demand Analysis & Opportunity Outlook 2024” delivers detailed overview of the global computer graphics market in terms of market segmentation by component, by application and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
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This report also provides the existing competitive scenario of some of the key players of the global computer graphics market which includes company profiling of Microsoft corporation, Advanced Micro Devices Inc., ARM Ltd., Intel Corporations, Imagination technologies ltd., Nvidia Corporation, Sony Corporation, Adobe System Ltd, Siemens PLM Software, Autodesk Inc. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global computer graphics market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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