Computer Graphics Market To Grow At 7.0% CAGR During The Forecast Period From 2019- 2027

According to a new market research report published by Credence Research “Computer Graphics Market ((Component- Application, Hardware), (Application- CAD, Image Processing, Entertainment, User Interfaces), (Industry Vertical- Automotive, Healthcare, Aerospace & Defense, Media & Entertainment, Manufacturing)) Market – Growth, Future Prospects and Competitive Analysis, 2019 – 2027”, the overall computer graphics market worldwide was valued at US$ 162.0 Bn in 2018 and is set to grow with a CAGR of 7.0% during the forecast period.

Market Insights

Growing internet and smartphone penetration along with demand for graphics software business worldwide are driving the growth for computer graphics market globally. Computer graphics enable users to understand the complexities along with different perspectives which are actually absent in the real world. Businesses around the globe use these graphics to improve the efficiency of their operations. It also helps them in product development and product enhancement. Computer graphics are widely used in aerospace, architecture, healthcare, academics, automobile, etc. As a result of aforementioned factors, we expect that the computer graphics market will show tremendous growth during the forecast period.

Based on industry vertical, the computer graphics market is led by media and entertainment segment in 2018. The rapid rise in the media and entertainment industry has supported the global growth of the computer graphics market.  Increased demand for VFX, 3D animation effects and proposed changes in image processing has driven the computer graphics market. Further, due to tremendous demand for computer graphics on web portals, increase in usage of smart phones and thereby growth in media the computer graphics market is set to grow. Thus,  we expect that the media and entertainment segment will have a major share in the growth of the consumer graphics market during the forecast period.

Based on the geography, North America dominates the computer graphics market in 2018 accounting for over 40% of the total revenue in the same year. The region is a hub of technological advancement, computer along with related software and hardware manufacturing. Further, Asia Pacific is estimated to be the fastest growing region during the forecast period. Backed by the growth in developing nations such as China and India, the overall revenue for computer graphic market shall increase. Also, increasing manufacturing and enhanced IT services in the region shall influence the global market.  As a consequence, we expect that the region will grow significantly during the forecast period 2019-2027.

Some of the major companies profiled in the report include 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.  among others.

 

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