The computer graphics market is in for a slow but steady rate of growth for the foreseeable future, according to a new report from analyst firm Jon Peddie Research (JPR).
After a period of rapid growth between 2013 and 2016, the firm said, the compound annual growth rate for graphics hardware and software has slowed to an average of 2% — not a big number, but enough to grow the computer graphics market to $150 billion by 2022. Of that number, JPR expects more than $133 billion to be CG hardware.
The computer graphics software market, meanwhile, should grow to $17.3 billion by 2022, according to JPR, with growth driven by services moving to the cloud and the continued adoption of subscription models.
Computer Graphics Hardware Market
Source: Jon Peddie Research
JPR said CAD and CAM software continues to make up the lion’s share of the CG software market, accounting for nearly 80% of its value. The firm also noted that, despite the emergence of new applications for CG software and hardware including AI, real-time ray-tracing, and augmented reality, it expects the rate of growth will remain steady.
Computer Graphics Software Market
Source: Jon Peddie Research
“Virtual reality, which has gained so much attention, is hardly a factor in either hardware or software, and, despite some glowing forecasts, we don’t think it will be for a while,” JPR said in a press release. “The main point of exploration for VR today is in content creation, where it is used for virtual production, a glamorous but tiny market, and design for professionals, its traditional market.”
