According to a new market report pertaining to the global computer graphics market published by Transparency Market Research the global computer graphics market is projected to reach value of US$ 308.61 Bn by 2030. The computer graphics market is projected to expand at a CAGR of 6.2% 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, during the forecast period.
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 and in turn generated opportunities in the computer graphics market. Additionally, smaller game developers are grouping up with bigger entertainment companies to break into the gaming market by adding to the total number of games. The popularity of e-sports and Game 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: Market Taxonomy
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.).
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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. Furthermore, 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.
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