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%.
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.
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 proliferation of high dynamic range-capable smartphones and cameras.
By application, the high dynamic range market share was dominated by the entertainment segment in 2020 and is expected to maintain its dominance in the upcoming years. However, the video streaming segment is expected to witness the highest growth due to the ongoing demand for high dynamic range video streaming, as it offers higher contrast along with precise & detailed shadows and stunning highlights with more clarity. Recently, YouTube introduced high dynamic range for its live streams.
Post COVID-19, the high dynamic range market size is estimated to grow from $ 13,760.0 million in 2020, and is projected to reach $ 126,740.0 million by 2030, registering a CAGR of 25.10%. The pandemic has a slight negative impact on the market growth, as the supply chain hindrances created challenges for display manufacturers in manufacturing as well as supplying their products. For instance, Omdia Display, one of the leading display manufacturers in China, expected a 40–50% drop in its overall production of display, owing to a shortage of logistics support, shortage of labor, and quarantine procedures.
Key Findings Of The Study
- By type, in 2020 the HDR 10+ dominated the High dynamic range market size. However, the Dolby vision segment is expected to exhibit significant growth during high dynamic range market forecast period.
- Depending on product type, the capturing devices generated the highest revenue in 2020. However, the display devices segment is expected to exhibit significant growth during the forecast period.
- Region wise, the high dynamic range industry was dominated by North America region. However, Asia-Pacific is expected to witness significant growth in the upcoming years.
Some of the key high dynamic range industry players profiled in the report include Apple, Inc., Canon, Nikon Corporation, Samsung Electronics Co., Ltd., LG Display Co., Ltd., Omnivision Technologies, Olympus Corp., Sony Corporation, Fujifilm Holding Corporation, and Casio Computer Co., Ltd. This study includes market trends, high dynamic range market analysis, and future estimations to determine the imminent investment pockets