Computer Graphics Market Trends

Growth Drivers

• Upsurge in Internet Usage – With changing time scenarios, the usage of the internet is growing so fast. The widespread use of the internet is now regarded as routine in many developed economies. It permeates daily life and social interactions as well as politics and culture. A notable penetration of the internet has been observed in emerging economies as well, which is leading up the demand for computer graphics to the next level. According to the World Bank report, number of internet users touched 60% of the world’s population in 2020.  
• Escalating Use of 3D Printing in Businesses – For instance, the proportion of businesses using 3D printing for bridge production has increased dramatically, rising from 36% in 2019 to 58% in 2021. Finally, more than 6 out of 10 companies are now using 3D printing for manufacturing components.
• Worldwide Proliferation in Gaming Industry – For instance, the gaming industry is estimated to be nearly USD 205 billion worth by 2022.
• Escalation in OTT Platforms Viewership – It is observed that the number of people that are expected to engage with OTT service providers by the end of 2022 is estimated to be nearly 196 million.
• Spiking Boost in Social Media Use - In July 2022, the number of social media users worldwide reached around 4.75 billion, accounting for 60% of the total global population.

Challenges

• Increasing Cost of Advanced Innovation in Visual Effects - Visual effects are an expensive component of filmmaking owing to the necessary electronics and the labor put in by artists. If the overall budget is USD 1,000 per minute, overall VFX costs are going to be between USD 20,000 and USD 5,000 per minute. The artists' annual wages consume the majority of the budget.
• Condition of Hardware Change as of Constant Upgradation
• Concerned Effects of Recession and Inflation