Published Date: 31-May-2022
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According to a new report, published by KBV research, 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.
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. This is due to the development of high dynamic range-capable smartphones and cameras, the capturing devices market is predicted to increase at the fastest rate. High dynamic range (HDR) capturing devices increase the "dynamic range" of the photos taken. The dynamic range of a photograph refers to the light-to-dark ratio. The exponential development in the use of social media sites and applications is also driving demand for HDR capture gear.
The Video Streaming segment is showcasing a CAGR of 24.4% during (2022 - 2028). The increase in HDR online video streaming can mostly be ascribed to a growing reliance on movies, and online series by viewers during the lockdown. Furthermore, the market's growth is accelerated by the high adoption rate of various online streaming apps like Netflix, Amazon Prime, Disney+, and others. The quality of these sites' video presentations has an impact on viewership and subscription rates, and it plays a significant part in their growth. Apart from that, the current Covid-19 pandemic, in which people are unable to go out for entertainment, has opened up new growth opportunities for OTT platforms as well as entertainment devices like televisions, smartphones, and other devices, affecting the HDR market.
The HDR10+ segment is leading the Global High Dynamic Range Market by Type in 2021, thereby, achieving a market value of $18.5 billion by 2028. The primary difference is that HDR10+ includes support for dynamic metadata. This brings it on par with Dolby Vision, while still maintaining the open and royalty-free nature of HDR10. Unlike Dolby Vision, however, HDR10+ doesn’t go beyond 10-bit color depth. While most consumer displays don’t come close to 12-bit just yet, that may change in the future. The HDR10+ Adaptive standard is also available. In a nutshell, sensors detect ambient light in the room and modify the visual settings on the display accordingly. Only a small percentage of high-end monitors are equipped with the sensors required for HDR10+ Adaptive compatibility.
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; thereby, achieving a market value of $25.0 billion by 2028. The Asia Pacific market is estimated to witness a CAGR of 24.7% during (2022 - 2028). Additionally, The Europe market would exhibit a CAGR of 23.9% during (2022 - 2028).
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of 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.
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