Visual Computing Market Report 2024

This Visual Computing market report covers industry characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.

The visual computing market size has grown rapidly in recent years. It will grow from $18.79 billion in 2023 to $22.24 billion in 2024 at a compound annual growth rate (CAGR) of 18.3%. The growth during the historic period can be attributed to the increased demand for high-performance GPUs, advances in display technology, the development of advanced rendering techniques, the rise of interactive whiteboards, and the adoption of interactive tables.

The visual computing market size is expected to see rapid growth in the next few years. It will grow to $44.0 billion in 2028 at a compound annual growth rate (CAGR) of 18.6%. The growth in the forecast period can be attributed to the expansion of virtual reality (VR) and augmented reality (AR), the growth of cloud-based visual computing services, the increasing use of interactive kiosks, rising demand for large-scale video walls, and the integration of IoT with visual computing. Major trends expected during this period include the increasing integration of AI and machine learning for enhanced visual computing applications, growing demand for immersive AR and VR experiences across various industries, the expansion of interactive display technologies and large-scale visualization solutions, and continued advancements in rendering techniques and computer vision algorithms for real-time analytics and applications.

The expanding internet penetration is expected to drive the growth of the visual computing market in the future. The internet, a global network of interconnected computers and devices, enables communication, information sharing, and access to various resources and services. The rise in internet penetration is attributed to factors such as the increasing affordability of devices, the expansion of network infrastructure, and the growing demand for online connectivity and digital services worldwide. Visual computing plays a crucial role in this context by enabling applications such as image analysis, augmented reality, and automated content moderation, which enhance user experiences and expand digital capabilities. For instance, in November 2022, a report from the International Telecommunication Union, a Switzerland-based specialized agency, indicated that approximately 5.3 billion people globally, or 66 percent of the world’s population, were internet users in 2022, reflecting a 6.1 percent increase from the previous year. This growth highlights the increasing global connectivity and the adoption of digital technologies. Consequently, the expanding internet penetration is fueling the growth of the visual computing market.

Leading companies in the visual computing market are focusing on developing advanced technologies, such as spatial computers, to improve user experience and foster innovation across various industries. A spatial computer is a system or device that incorporates spatial awareness, often through sensors such as cameras or depth sensors, to understand and interact with the physical environment in real-time, enabling applications such as augmented reality (AR), spatial mapping, and precise location-based services. For example, in June 2023, Apple Inc., a US-based technology company, launched the Apple Vision Pro, a pioneering device with spatial computing capabilities that seamlessly integrates digital content with the physical world. The Vision Pro features a three-dimensional user interface controlled by gestures, voice commands, and eye movements, powered by VisionOS, the first spatial operating system. It also boasts an ultra-high-resolution display with 23 million pixels and a dual-chip configuration for immersive experiences.

In July 2022, Michelin, a France-based tire manufacturing company, acquired RoadBotics, a US-based company specializing in image analysis (computer vision), for an undisclosed amount. This acquisition strengthens Michelin's expertise in artificial intelligence to support smarter and safer mobility. It also aims to expand Michelin's market presence through enhanced distribution channels, improve its product ecosystem, and offer a wider range of services to customers.

Major companies operating in the visual computing market are Apple Inc., Google LLC, Samsung Electronics, Microsoft Corporation, Imagination Technologies, Sony Corporation, LG Electronics, Intel Corporation, Panasonic Corporation, Qualcomm Technologies Inc., NVIDIA, NEC Corporation, AMD, Sharp Corporation, Adobe Inc., Epson Corporation, Dassault Systèmes, Autodesk Inc., Texas Instruments, Arm Holdings, Oculus VR (Meta Platforms), Unity Technologies, Barco NV, Magic Leap, HTC Corporation.

North America was the largest region in the visual computing market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the visual computing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the visual computing market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Visual computing is a field that involves the science and technology of creating, processing, analyzing, and displaying visual data. It encompasses disciplines such as computer graphics, image processing, computer vision, and augmented and virtual reality, all aimed at enhancing human-computer interaction and visual perception.

The main components of visual computing are hardware and software. Hardware includes physical components such as graphic processing units (GPUs), processors, and specialized display devices. These are used across various display platforms, including interactive whiteboards, interactive kiosks, interactive tables, interactive video walls, monitors, and more. Visual computing technology is applied in a range of industries, including gaming, media and entertainment, healthcare, automotive, manufacturing, defense and intelligence, among others.

The visual computing market research report is one of a series of new reports that provides visual computing market statistics, including visual computing industry global market size, regional shares, competitors with a visual computing market share, detailed visual computing market segments, market trends and opportunities, and any further data you may need to thrive in the visual computing industry. This visual computing market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The visual computing market consists of revenues earned by entities by providing services such as developing and selling hardware components such as GPUs, providing software solutions for computer graphics and visualization, offering consulting and integration services for augmented and virtual reality applications, and delivering content creation and rendering services for various industries. The market value includes the value of related goods sold by the service provider or included within the service offering. The visual computing market also includes sales of interactive display technologies such as high-resolution displays, augmented reality (AR) and virtual reality (VR) headsets, rendering software and related products. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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