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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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
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