High Dynamic Range Market Supported by a CAGR of 25.1% by 2030 | Apple, Inc., Canon, Nikon Corporation
Asia-Pacific expected to observe highest growth rate. Asia-Pacific dominated the market, due to upsurge in demand from gaming, entertainment & media industries.
WILMINGTON, DE, UNITED STATES, October 26, 2023 /EINPresswire.com/ — According to a recent report published by Allied Market Research, titled, “High dynamic range Market By Type, Product Type, Application, and Region: Global Opportunity Analysis and Industry Forecast, 2021-2030,”
The global high dynamic range market was valued at $13,760.0 million in 2020, and is projected to reach $126,740.0 million by 2030, registering a CAGR of 25.1%.
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Ongoing demand for large screen displays with high resolution acts as one of the major drivers of the global high dynamic range market. In addition to this, increase in penetration of smartphones, high potential for digital photography, and surge in on-demand content delivery services notably contribute toward the growth of the global high dynamic range market.
However, need for considerably higher bandwidth for broadcasting high dynamic range content hampers the market growth. On the contrary, the introduction of new high dynamic range-compatible devices and proliferation of high dynamic range content are anticipated to offer remunerative growth opportunities for the expansion of the global market.
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Competitive Analysis:
The competitive environment of High Dynamic Range Industry is further examined in the report. It includes details about the key players in the market’s strengths, product portfolio, High Dynamic Range Market share and size analysis, operational results, and market positioning. It comprises the actions taken by the players to grow and expand their presence through agreements and entering new business sectors. Mergers and acquisitions, joint ventures, and product launches are some of the other techniques used by players.
Key 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 and Many More
By region, the high dynamic range industry was dominated by North America region. However, Asia-Pacific is expected to witness significant growth in the upcoming years.
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In accordance with the insights of the CXOs of leading companies, the global high dynamic range market is projected to exhibit high growth potential, especially in Asia-Pacific and Europe. This is attributed to high adoption of smartphones, rise in demand for high dynamic range in gaming applications, expansion of the entertainment industry, and rapid infrastructural development. Furthermore, consumers who cannot afford to buy a smart, connected TV are now streaming over the top (OTT) content on smartphones. As number of customers using smartphones to stream OTT services are increasingly, the growth potential of larger screen smartphones market is projected to increase in developing economies, which, in turn, is likely to foster the demand for high dynamic range-capable smartphone devices.
The CXOs further added that the share of new TV shipments for smart TV has steadily increased over the period of time, as many manufacturers are integrating internet capability as a standard feature. Moreover, increased adoption of subscription video-on-demand (SVOD) services drives the usage of smart TVs with high dynamic range capabilities. Furthermore, the market growth is driven by the availability of smart TVs at low prices offered by the major players such as Amazon and Roku. For instance, as of March 2021, about 44% of U.S. television households have a 4K-capable TV set at home.
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