Computer graphics are nothing but the representation of the data made using specialized hardware and software programs. Any object that can be introduced in the form of visuals or images is known as graphic. When these graphics are manipulated with help of technologies like computer programs and software, the results are precise and advanced. This is the reason why the global industries are adoption the trends of computerized graphics. The global computer graphics market is growing with the rapid technological advancements and rate of adoption of their unique applications. As a result, potential investors are expecting steady growth for their business across the emerging markets. Key players from the developed regions on the other hand are looking for company expansions across emerging regions.
4 Market Drivers
According to the experts, the global computer graphics market is strongly driven by four crucial factors. These drivers include growing adoption and applications of web, which is basically driven by the IT revolution. Apart from that, adoption of the smartphones across emerging as well as developed regions, and strong demand from graphic software from various kinds of business processes and advancing technology are also expected to be the crucial drivers. Booming prospects of the entertainment industry are also expected to create impressive growth prospects for this industry. as a result, more and more companies are investing into the market. Emerging regions are also looking forward to witness heavy investments and rise in demand during the next few years to come.
The global computer graphics market is segmented on the basis of the types of software, which include CAD/CAM, digital video, visualization, simulation, modeling/animation, imaging and other. Services in this market include integration, consulting, training and support services. Small and medium businesses as well as large organizations are the basic end-users of the market. Business verticals with the maximum deployment of these services include academia and education, media and entertainment, aerospace and defense, healthcare, automobile, architecture, building, and construction, manufacturing and such other industries. On the basis of the geographic regions, the industry is categorized into North America, Latin America, Asia Pacific, Europe and Middle East.
Price sensitivity of the market is considered to be a major restraining factor for the global computer graphics market. Apart from that, concentrated demand is also a concerning factor for the existing players. Despite these restraints, the industry is aiming at healthy growth with evolution of 4D technology and shift towards cloud-based subscription of the industry services. As a result, the industry is expected to grow at a CAGR of over 6% from 2014 to 2019. At the projected growth rate, the market will grow on to become worth $32.68 billion by 2019, which is currently poised at $23.33 billion in 2014. According to the expert analysis, North America is expected to dominate the global market, while Asia Pacific will record impressive growth in terms of revenue and adoption rate.