EDITOR’S NOTE: Excerpts from JPR Market Watch are available on request.
The CG Market will have a CAGR of 8% to 2013 Says Jon Peddie Research
Industry has had 16.5% growth for past 28 years
TIBURON, CA—July 29, 2009--The computer graphics industry has enjoyed almost non-stop growth since it was established in the late 1970s. Today, computer graphics hardware and software (not counting services, maintenance and other aspects) are worth $68 billion – that’s a mind boggling average growth rate of 16.5% for 28 years! Despite the recession, or maybe because of it, the market for all types of applications and hardware used in the computer graphics industry is growing at a prodigious rate and offers opportunities in many segments as companies invest today for the consumers of tomorrow.
Hardware will continue to get better, and more units will be sold, and due to the benefits of Moore’s Law prices will be stable. This empowers the industry and contributes to the democratization of all segments allowing people who were shut out in the past to participate, and that, in addition to bringing great new developments, increases the overall market.
As a result of the expansion of the market, more people will be buying computer graphics software programs and we will see the development of traditional segments like CAD/CAM expand as new design approaches in automotive, aerospace, and architecture are brought forth. Visualization, a market that has been almost dormant for the past few years is poised now for great expansion.
Software for making movies, computer games, high-style products, and simulations of products and activities too expensive or too dangerous to test in reality will exploit the amazing realism and real time capabilities of today’s and tomorrow’s CG software.
The demand for programmers, artists, scientists, and designers who can use and exploit these new programs and their associated hardware accelerators will not subside. The economic recession has caused a slow down but it’s going to look like a small bump in the road by 2013.
We are seeing new opportunities growing out of more mainstream applications for the web and consumer applications. The web is growing as a distribution medium for graphics content which in turn encourages people to pick up the tools, learn then, create content for pleasure, and even look for jobs in the field. What used to be a very closed society of experts is opening up.
Given these trends, we see the rate of growth continuing to grow.