Press release
High Dynamic Range Market Size is Anticipated to Grow $126,7 Million by 2030
High Dynamic Range Market
The global high dynamic range (HDR) market is experiencing significant growth, driven by the rising demand for large-screen displays with high resolution. This growth is further supported by the increasing penetration of smartphones, the expanding potential of digital photography, and the rising popularity of on-demand content delivery services. However, the market faces a challenge in the form of the substantial bandwidth required for broadcasting HDR content. Despite this, the emergence of new HDR-compatible devices and the rapid proliferation of HDR content present promising opportunities for market expansion.
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Covid-19 scenario:
1. During the Covid-19 pandemic, the demand for video streaming and entertainment increased during the lockdown, boosting the demand for high dynamic range solutions.
2. However, the pandemic negatively affected the market due to a disrupted supply chain and drop in the production of displays. Moreover, the shortage of logistics support, quarantine procedures, and shortage of labor hampered the market.
By application, the entertainment segment held the lion's share in 2020, contributing to nearly half of the global high dynamic range industry. However, the video streaming segment is estimated to manifest the highest CAGR of 27.1% from 2021 to 2030, due to rise in demand for high dynamic range video streaming as it offers higher contrast and precise & detailed shadows with more clarity.
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In 2020, on the basis of product type, the display devices segment exhibited the highest growth in 2020, and is expected to maintain its dominance in the upcoming years. This is attributed to increase in applications of high dynamic range solution in different display devices such as televisions, Blu-Ray players, set-top boxes, projectors, and laptops & tablets. In addition to this, surge in demand for video wall, TVs, and digital signage applications boosts growth of this segment. However, the capturing devices segment is expected to witness the highest growth in high dynamic range market share, due to the proliferation of high dynamic range-capable smartphones and cameras.
By region, the market across North America dominated in 2020, holding around two-fifths of the market, due to strong presence of successful camera brands and manufacturers in the region. However, the global high dynamic range market across Asia-Pacific is projected to portray the highest CAGR of 28.1% during the forecast period, owing to surge in demand from gaming, media, and entertainment industries.
Asia-Pacific is expected to observe highest growth rate during the forecast period. Asia-Pacific dominated the high dynamic range market, due to upsurge in demand from gaming, entertainment, and media industries. In addition, Asia-Pacific is home to major players such as Canon, Omnivision Technologies, Samsung Electronics Co., Ltd., Fujifilm Holding Corporation, and Casio Computer Co., Ltd., which offer advanced high dynamic range solutions. Further, increasing 4G coverage coupled with emergence of 5G, ever-increasing smartphone and pay-TV penetration, falling data tariffs, and rising per capita income primarily drives the demand for high dynamic range content in Asia-Pacific, thereby fueling the growth of the market.
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Major market players
Apple, Inc.
Canon
Nikon Corporation
Samsung Electronics Co., Ltd.
LG Display Co., Ltd.
Omnivision Technologies
Olympus Corp.
Sony Corporation
Fujifilm Holding Corporation
Casio Computer Co., Ltd.
Key Benefits For Stakeholders:
1. This study includes the global high dynamic range market analysis, trends, and future estimations to determine the imminent investment pockets.
2. The report presents information related to key drivers, restraints, and Global High dynamic range market opportunity.
3. The global high dynamic range market size is quantitatively analyzed from 2020 to 2030 to highlight the financial competency of the industry.
4. Porter's five forces analysis illustrates the potency of buyers & suppliers in Global High dynamic range industry.
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