Albany, NY -- (SBWIRE) -- 08/22/2017 -- Even though a few multinationals together hold a substantial share in the global computer graphics market and dictate the dynamics of the market, the competitive landscape cannot be called consolidated. On contrary it is fragmented due to the presence of numerous local players that have a stronghold in regional pockets. Competition among them is moderate to high.

In the near future, competition is slated to heat up in the global computer graphics market on account of keen players resorting to mergers and acquisitions to bolster their positions. Another factor likely to intensify competition is the low entry barriers for newcomers because of the easy availability and low cost of labor, particularly in Asia Pacific.

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Advanced Micro Devices (AMD), Inc., ARM Ltd., Intel Corporation, Imagination Technologies Limited, Nvidia Corporation, Sony Corporation, Adobe Systems Ltd., Siemens PLM Software, Autodesk Inc., Microsoft Corporation, and Dassault Systèmes SA are some of the main players operating in the global computer graphics market. Some other companies are Matrox, Mentor Graphics, Inc. and 3D PLM-related software providers such as PTC, SAP PLM, Oracle PLM, etc.

A report by Transparency Market Research, forecasts the global computer graphics market to expand at a CAGR of 5.5% from 2016 to 2024 to reach a value of US$211.60 bn by 2024 from US$130.91 bn in 2015.

Presence of Well Known Visual Effects Companies Makes North America Market Leader

Depending upon the type of component, the computer graphics market can be split into hardware and application software. Of the two, the segment of hardware is expected to contribute the most to the market on account of the steep price of different critical components. On account of the emergence of technologically advanced graphics processing units (GPUs) and processors, the hardware component market is predicted to see steady growth.

Geographically, the key segments of the global computer graphics market are North America, South America, Europe, Asia Pacific, and the Middle East and Africa. At present, North America leads the market vis-à-vis revenue and is expected to continue doing so in the near future as well. The U.S and Canada are driving the market in the region as they are home some of the world renowned visual effects (VFX) companies, namely Warner Bros Animation, Walt Disney Animation Studios, DreamWorks, etc. Another reason for the region's dominance is the presence of many computer graphics hardware component and application software providers such as Adobe Systems Inc., Autodesk Inc., Siemens PLM Software, and Microsoft Corporation.

Media and Entertainment Industry Majorly Fuelling Market Growth

Majorly fuelling the global computer graphics market is the explosive growth in the media and entertainment industry. Explains the lead analyst of the TMR report, "Growing usage of image processing and 3D animation effects in media and entertainment industry and significant demand for computer graphics software in associated industries including automobile, fashion designing, construction, and other manufacturing industries are expected to drive the market growth."

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One factor serving to restrain the market is the need for hardware change due to constant upgrades to 3D computer graphics software results in additional cost burden in developing new and enhanced graphical content.