Worldwide Computer Graphics Market is Projected to Expand at a CAGR of 5.5% by 2024
The established players in the global computer graphics market for 2015 included Intel Corporation, Sony Corporation, Microsoft Corporation, and Nvidia Corporation. Their collective share of 65.8% in 2015, while exceptionally high, did not mark a consolidated market. There are still a very large number of locally popular players in the global computer graphics market, although the majority of the market's flow is dictated by the above leaders.
As stated in in a research report released by Transparency Market Research, the global computer graphics market is likely to experience a moderate to high level of competitive rivalries. The market is currently highly fragmented and over time, a large number of mergers and acquisitions are likely to intensify the competition between larger players. At the same time, the scope of entry for newer players is also very high due to the low cost of labor and the abundance of it, especially in the Asia Pacific region. The global computer graphics market is expected to reach a value of $211.60 billion by the end of 2024. The market is projected to expand at a CAGR of 5.5% during the forecast period from 2016 to 2024, and was calculated to reach U$137.46 billion by the end of 2016.
"The global industry of media and entertainment is currently experiencing a heavy influx of both willingness and demand for 3D animation effects and advanced image processing. The significantly high amount of commercial success seen by companies that use these tools is prompting others to take up animation as an integral part of media and entertainment as well, further driving the demand experienced by the global computer graphics market. These illustrations are able to surpass the boundaries set by physical models in terms of either visualizing concepts or for elaborating a story in the entertainment industry," states a TMR analyst. The overall impact of the growing use of 3D animation and image processing is expected to have a very strong positive effect on the global computer graphics market over the coming years.