Visual Computing Market Pegged for Robust Expansion by 2024
With the significantly increasing graphics hardware and software capabilities of operators, the global visual computing market is witnessing a substantially high-paced growth. The growth potential of this market is remarkably high, as visual computing is making its way smoothly in a number of industries, such as the gaming, healthcare, media and entertainment, defense and intelligence, automotive, and the manufacturing sectors.
The E-learning and various scientific research applications have also surfaced as the key application areas of visual computing and are providing noticeable opportunities for future growth. The efficiency of these applications is improved to a great extent with the integration of this technology. The real-world experience and life-like appearance create a better visualization, which, in turn, is expected to reflect positively on the demand for visual computing.
The global market for visual computing has a broad and complex network of value chain, as the entire chain is inter-connected with a number of players related to the global complete industry, and the flow of the technology and services. The component manufacturers, technology integrators, software solution providers, and the end users are the prime building blocks of the value chain present in this market.
Computers are being increasingly used to process digital images, video and visual reproduction. Visual computing means the ability to transform information into images and to gain information from images. The visual data can be block diagrams, simple icons 3-D scenes, photo, and video. These are used to describe either computer environment or application with huge or numerical data files like video sequences, 3-D scenes and images. Visual computing finds application in graphics, visualization, animation technology, video processing and image, multimedia communication and interaction among others.
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Cyber world, visual computing is helping to transform the data to visual to facilitate better and effective more easy processes to gain from the data it contains.increasing demand for simulation products and virtual reality is expected to create a large market potential for visual computing market. Moreover, increasing focus on gaming graphics card to increase the accuracy level of games is also predicted to accelerate the demand of gaming industries. This in turn is acting as a driving factor in the growth of visual computing market in the coming years. The visual computing market is expected to grow at a steady rate during the forecast period from 2016 to 2024.
In order to provide detailed analysis of the market, the visual computing market is segmented on the basis of component, display, end use industry, and geography. On the basis of component, market is bifurcated into hardware and software. On the basis of display, market is further fragmented into monitors, whiteboards and others. Increasing demand of white boards as a result of increasing engagement in collaborative production, boost communication and greater range of data share and connectivity and mobile connectivity is acting as a driving factor in the growth of visual computing market. On the basis of end use industry, market can be classified into gaming, entertainment and media management information systems.On the other hand, information regarding current market synopsis and future trend in respect of all the above mentioned segments across various regions including Europe, North America, Asia Pacifica, Middle-East and Africa (MEA) and Latin America is also provided in this report.
One of the important factors restraining the visual market is high establishment and manufacturing cost followed by sensitivity to lighting conditions.
Geographically, the visual computing market is majorly driven by North America. In 2015, North America held the largest market share in terms of revenue. High internet penetration and cloud based services is mainly driving the North America visual computing market. In addition, increasing focus on research and development activities by key players operating in visual computing market is also acting as a driving factor in the growth of this market. In terms of revenue, the visual computing market of North America is followed by Europe. Asia Pacific is predicted to witness the most promising market in the coming years, owing to increasing internet penetration followed by growing demand for high definition gaming consoles. NVidia Corp. (U.S), one of the leading player in this market is heavily invested in visual computing and virtual reality. The market of visual computing is consolidated in nature with few companies holding majority of the market share. In 2015, NVidia corp. (USA) and Intel Corp (USA) held more than 50 percent market share of visual computing markets. Growing need for datacenter infrastructure, and HUD for automotive sector followed by increasing investment in virtual reality, visual computing for autonomous vehicles serves as opportunity for visual computing market.
The key companies operating in the visual computing market are Intel Co (U.S.), AMD Inc. (U.S.), ARM Holding Plc. (U.K), Imagination Technologies Group Plc. (U.K.),Marvell Technology Group Limited (Bermuda), Bio digital Inc.(U.S.), Cubix Corporation(U.S.), Softkinetic.(Belgium) and NVidia Corp.(U.S) among others.
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