The Global High Dynamic Range Market size is expected to reach $75 billion by 2028, rising at a market growth of 24.1 % CAGR during the forecast period.
High dynamic range is a greater technique for capturing videos or photographs that fulfills a higher quality. It increases the image quality and generates a high-resolution image regardless of size. It also improves the quality of the viewing experience. In comparison to 4K UHD and HD technologies, the great dynamic range necessitates a large amount of bandwidth to transfer data to other devices. Large data, on the other hand, can be sent across a communication route with a set bandwidth and higher compression. HDR adds a few additional characteristics to current TVs, including higher brightness, brighter color, and officially cheaper pricing.
The increased adoption of smartphones, as well as the expanding use of the internet and social media sites, are driving market expansion. Furthermore, increasing demand for improved recording and display devices with superior capabilities, as well as rising income, is expected to expand with time, positively impacting the high dynamic range market. Also, the increased use of HDR technology for sound recording, digital imaging, 3D rendering, video, and photography contributes significantly to the market's growth and expansion. Aside from that, the growing user base of OTT platforms such as Netflix, Amazon Prime, Disney+, and others encourages the adoption of HDR technology for online streaming, resulting in the rapid growth of the HDR business.
One of the primary drivers of the high dynamic range market is the continued desire for large screen displays with high resolution. In addition, rising smartphone penetration, great potential for digital photography, and an increase in on-demand content delivery services all contribute to the high dynamic range market's growth. The industry is predicted to rise in the next few years due to increased demand for large screen displays with higher resolution.
Following COVID-19, the high dynamic range market is expected to increase. The pandemic has had a little negative influence on market growth, as supply chain disruptions have made it difficult for display makers to build and distribute their products. Since there were also nationwide lockdowns in most countries, there was a severe shortage of staff and hence the production of displays could not take place. Due to a lack of logistics support, labor shortages, and quarantine procedures, Omdia Display, one of China's largest display producers, experienced a major decline in its overall display production.
One of the key drivers of this market's growth is the rising demand for smartphones. Technological advancements, rising purchasing power, increased affordability of devices with additional features, and increasing IoT penetration have all boosted demand for smartphones, positively impacting the HDR market. According to a joint report produced by the Indian Cellular and Electronics Association (ICEA) and KPMG in July 2020, India would have 829 million smartphone users by 2022. Top smartphone manufacturers are offering new products that enable sophisticated features, such as HDR cameras and display standards, in response to the increased demand for smart devices with advanced capabilities. For example, Samsung released the Galaxy M42 5G, its first mid-segment 5G device, in April 2021.
The popularity of photography is expanding, as the use of social media sites such as Instagram, Facebook, WhatsApp, YouTube, Telegram, and others is rising. According to a recent Facebook investor report, the network has 2.701 billion monthly active users, 1.785 billion daily active users, and 3.14 billion active users utilizing at least one of Facebook's key products every month. The age range of 25 to 34 years old accounts for the majority of active users. Furthermore, as the number of formal and informal social gatherings grows, capturing and sharing significant moments with a high-quality photograph or video with better sound recording and picture quality has become increasingly important for the millennial generation, which is driving the adoption rate of HDR technology.
Although the HDR market is expanding at a quick pace, there are several drawbacks that could limit the industry's growth throughout the forecast period. One of the primary drawbacks of this technology is that HDR images take up a lot of storage space on devices, causing the memory to get clogged. Apart from that, taking a snapshot or a shot with HDR technology is difficult without a tripod and bracketing. Further, the software is always necessary to construct the final image of such HDR shots, and it produces a lot of noise, necessitating further processing refinement.
Based on Product Type, the market is segmented into Capturing Devices and Display Devices. The display segment procured a substantial revenue share in the high dynamic range market in 2021. This is due to an increase in the use of high dynamic range solutions in a variety of display devices, including Blu-Ray players, televisions, projectors, set-top boxes, and laptops and tablets. An increase in demand for video walls, TVs, and digital signage applications also contributes to the segment's growth. Due to the strong acceptance rate of this product across industrial, commercial, and residential sectors for entertainment and security surveillance applications, the market for display devices maintained the largest high dynamic range market share.
Based on Application, the market is segmented into Entertainment, Video Streaming, and Gaming. The entertainment acquired the largest revenue share in the high dynamic range market in 2021. High-dynamic-range television (HDR or HDR-TV) is a technique that improves the signal received by displays. Entertainment channels use this technology to provide their viewers with HDR content. The intensity and colors of films and photos are represented differently in HDR signals. It enables more vivid colors, brighter and more detailed highlights, deeper and more detailed shadows, and a broader range of hues. Compatible screens can get a higher-quality image source owing to HDR. It has no effect on the intrinsic features of a display. Since not all HDR displays are created equal, HDR videos will seem different depending on the display.
Based on Type, the market is segmented into HDR10+, HDR10, Dolby Vision, Hybrid Log-Gamma, 4K, and Others. The HDR10 procured a substantial revenue share in the high dynamic range market in 2021. HDR10 was created by the Consumer Technology Association and is fully free and open source. This means that any display maker can implement the standard and promote HDR10 content compatibility. The name of the specification comes from the suggestion of 10-bit panels in the standard. HDR10 also gives displays metadata, which describes the brightness and color levels of a specific piece of material. In order words, it's simply a set of maximum and lowest brightness settings applied to the entire video file. HDR10 has established the de facto baseline benchmark for both displays and content because of a long early-mover advantage and very minimal technological requirements. HDR10 is supported by practically all major brands of televisions, as well as numerous streaming services, UHD Blu-ray releases, and previous-generation gaming consoles.
| Report Attribute | Details |
|---|---|
| Market size value in 2021 | USD 16.6 Billion |
| Market size forecast in 2028 | USD 74.9 Billion |
| Base Year | 2021 |
| Historical Period | 2018 to 2020 |
| Forecast Period | 2022 to 2028 |
| Revenue Growth Rate | CAGR of 24.1% from 2022 to 2028 |
| Number of Pages | 235 |
| Number of Tables | 373 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Competitive Landscape, Companies Strategic Developments, Company Profiling |
| Segments covered | Type, Product Type, Application, Region |
| Country scope | US, Canada, Mexico, Germany, UK, France, Russia, Spain, Italy, China, Japan, India, South Korea, Singapore, Malaysia, Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria |
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| Restraints |
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Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa. North America acquired the largest revenue share in the high dynamic range market in 2021. This can be ascribed to the availability of multiple video streaming software suppliers in the United States, as well as growing company knowledge of the benefits of video streaming solutions. Furthermore, rising investments in a variety of technologies like IoT, AI, AR, big data, and VR, as well as the rising rate of use of cloud services, are expected to boost the regional video streaming software market during the forecast period.
Free Valuable Insights: Global High Dynamic Range Market size to reach USD 74.9 Billion by 2028
The major strategies followed by the market participants are Product Launches. Based on the Analysis presented in the Cardinal matrix; Apple, Inc. are the forerunners in the High Dynamic Range Market. Companies such as Samsung Electronics Co., Ltd., Sony Corporation, Canon, Inc. are some of the key innovators in the Market.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Apple, Inc., Sony Corporation, Canon, Inc., Samsung Electronics Co., Ltd.(Samsung Group), LG Display Co., Ltd. (LG Corporation), Nikon Corporation, Casio Computer Co., Ltd., Olympus Corporation, Fujifilm Holdings Corporation, and OmniVision Technologies, Inc.
By Product Type
By Application
By Type
By Geography
The high dynamic range market size is projected to reach USD 75 billion by 2028.
Rising Adoption of Smartphones are driving the market in coming years, however, a shortage of stable contracts, storage and other problems while shooting in HDR growth of the market.
Apple, Inc., Sony Corporation, Canon, Inc., Samsung Electronics Co., Ltd.(Samsung Group), LG Display Co., Ltd. (LG Corporation), Nikon Corporation, Casio Computer Co., Ltd., Olympus Corporation, Fujifilm Holdings Corporation, and OmniVision Technologies, Inc.
The expected CAGR of the high dynamic range market is 24.1% from 2022 to 2028.
The Capturing Devices segment acquired maximum revenue share in the Global High Dynamic Range Market by Product Type in 2021, thereby, achieving a market value of $45.9 billion by 2028.
The North America is the fastest growing region in the Global High Dynamic Range Market by Region in 2021, and would continue to be a dominant market till 2028.
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