Computer Graphics Market Trends

Growth Drivers

• Emergence of 3D printing and augmenting reality: The field of computer graphics has been revolutionized the emergence of 3D printing technology. 3D printing holds applications in various sectors such as automotive, construction, aerospace, dentistry, education, etc. Computer graphics market players are developing state-of-the-art computer graphics for conducting 3D modeling for various purposes. According to data published by the European Patent Office in September 2023, patent filings in 3D printing surged 8 times faster than the average of all technologies in the previous decade.

• Widening gaming industry:  Computer graphics have become an integral part of modern video games for increasing immersion, artistic expression, emotional impact, and providing a competitive edge. There is a rising demand for immersive video games all across the globe. For instance, according to the World Economic Forum, in 2020, 13.4 million units were sold of Nintendo’s Animal Crossing in 1^st 6 weeks of launch and became a best-selling game. The report further says that the global gaming industry will reach USD 321 billion by 2026.

• Rise of virtual reality applications: Virtual reality technology has disrupted various sectors, such as healthcare, manufacturing, and workforce development. For instance, in September 2024, the U.S. Food and Drug Administration authorized 69 medical devices that incorporate virtual reality. Additionally, VR technologies have multiple applications in the manufacturing industry such as inventory management, product design, factory floor planning, etc. Market players are making impeccable computer graphics for 3D representation of geometric data for virtual reality applications.

Challenges

• Exorbitant cost of the software: The incorporation of innovative 3D equipment into the current hardware is exorbitant. These computer graphic cards are of high cost due to factors such as high manufacturing costs, advanced technology, and market demand.

• Lack of skilled workforce: Computer graphic industry is versatile and constantly evolving field. Comprehending 3D transformation can be tedious tasks and usually involve mathematics, specific programming, and visuospatial skills. There is a lack of skilled workforce and market players facing challenge for timely delivery of service.