High Dynamic Range Market to Reach $126.74 Bn, Globally, by 2030 at 25.1% CAGR: AMR
High potential for digital photography, surge in penetration of smartphones, and ongoing demand for large screen displays with high resolutions have boosted the growth of the global high dynamic range market.
PORTLAND, Ore., Feb. 16, 2022 /PRNewswire/ -- Allied Market Research recently published a report, titled, "High Dynamic Range Market by Type (HDR10, HDR10+, Hybrid Log-Gamma, Dolby Vision, 4K, and Others), Product Type (Capturing Devices and Display Devices), and Application (Video Streaming, Gaming, and Entertainment): Global Opportunity Analysis and Industry Forecast, 2021–2030". As per the report, the global high dynamic range industry was accounted for $13.76 billion in 2020, and is expected to reach $126.74 billion by 2030, growing at a CAGR of 25.1% from 2021 to 2030.
Drivers, restraints, and opportunities
High potential for digital photography, surge in penetration of smartphones, and ongoing demand for large screen displays with high resolutions have boosted the growth of the global high dynamic range market. However, rise in need for considerably higher bandwidth for broadcasting high dynamic range content hinders the market growth. On the contrary, advent of new high dynamic range-compatible devices and surge in on-demand content delivery services are expected to unlock new opportunities for the market players in the future.
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Covid-19 scenario:
- During the Covid-19 pandemic, the demand for video streaming and entertainment increased during the lockdown, boosting the demand for high dynamic range solutions.
- 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.
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The HDR 10+ segment held the largest share
By type, the HDR 10+ segment held the largest share in 2020, accounting for more than one-third of the global high dynamic range market, as it uses dynamic metadata rather than static, making the picture look more realistic. However, the Dolby vision segment is expected to register the highest CAGR of 28.2% during the forecast period, as it offers several advantages over HDR formats.
The entertainment segment dominated 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.
North America held the largest share
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.
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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.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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