Technological Advancements Serving as an Engine of Growth for Computer Graphics Market, CAGR of ~6% Expected Across Forecast Period of 2020-2030, Projects Transparency Market Research
- The extensive demand for an enhanced graphical depiction of characters, objects, etc in animated movies, 3D films, and games is strengthening the growth of the computer graphics market
- North America and Asia Pacific to present a hotbed of opportunities for the growth of the computer graphics market across the forecast period of 2020-2030
20 Jul, 2020, 13:30 ET
ALBANY, New York, July 20, 2020 /PRNewswire/ -- The escalating demand for computer graphics across the entertainment industry will prove as a knight in shining armor for the growth of the computer graphics market across the forecast period of 2020-2030. In addition, the computer graphics market is also making headways in the computer programming area. Online games are creating a buzz among generation Z and the millennial populace. Therefore, this aspect will eventually lead to advancement in the growth of the computer graphics market.
According to the intelligent analysis of the experts at Transparency Market Research (TMR), the global computer graphics market is preempted to reach a valuation of US$308.6 bn by 2030. The analysts further state that the global computer graphics market is prophesied to expand at a CAGR of ~6% across the forecast period of 2020-2030.
The ubiquitous acceptance of computer graphics across diverse sectors is bringing good growth opportunities. Numerous industries across the globe now understand the benefits of computer graphics for promoting their respective products or brands. This factor may help in the rapid expansion of the growth rate of the computer graphics market.
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Computer Graphics Market: Expert Speak
The experienced analysts at Transparency Market Research attribute the estimated burgeoning growth of the computer graphics market across the forecast period to a plethora of factors such as rising adoption from the gaming industry, technological innovations in computer programming, and the popularity of 3D graphics. The analysts advised the manufacturers of the computer graphics market to focus their attention on the healthcare sector for expanding the growth prospects during the COVID-19 outbreak.
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Computer Graphics Market: Key Revelations
- Online game segment to add a good growth share across the computer graphics market
- On the basis of application, entertainment may contribute significantly for the growth of the computer graphics market
- North America and Asia Pacific estimated to acquire a large share of growth for the computer graphics market
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Computer Graphics Market: Growth Generators
The heightening dependency on computers in almost all industrial domains is the prime growth accelerator for the computer graphics market. The forecast period may see a plethora of technological advancements that will help in inculcating great growth statistics for the computer graphics market.
- The entertainment industry is going through a technological revolution as tools like VFX and Artificial Intelligence (AI) are being used through computer graphics for enhancing the user experience; this factor may help in expansion of the computer graphics market
- A surge in the number of smartphones, computer, and tablet users across the globe may help in propelling the growth rate of the computer graphics market
- Mergers and acquisitions are also helping in strengthening the base of key players and eventually bringing good growth prospects for the computer graphics market
- The widening spectrum of computer graphics in the healthcare sector may also prove fruitful for the growth of the computer graphics market
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Computer Graphics Market: COVID-19 Assessment
The COVID-19 pandemic has led to the imposition of stay-at-home orders by the governments of various countries to contain the transmission. With a large populace a home, the demand for online gaming and OTT has skyrocketed. The computer graphics market will leverage the growing demand for online games as game developers are focusing more on improving the graphics with consistent updates. Therefore, the COVID-19 outbreak will help the computer graphics market gain extra stars of growth.
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Computer Graphics Market: Segmentation
- Application Software
- Image Processing
- Entertainment (3D/Animation/Visual Effects (VFX))
- User Interfaces Others (Education Graphics, etc.)
- North America
- Asia Pacific
- Middle East & Africa
- South America
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