Farmington, April 22, 2023 (GLOBE NEWSWIRE) -- The High Dynamic Range Market is projected to reach US$126.74 Billion by 2030, from US$13.76 Billion in 2022, registering a CAGR of 25.1% during the forecast period 2023-2030. Key factors driving the growth of this market include Increasing Smartphone Adoption
Increasing smartphone demand is one of the primary factors driving the growth of this market. The demand for smart-phones has increased as a result of technological advancement, a rise in purchasing power, an increase in the affordability of devices with advanced features, and the increasing penetration of the Internet of Things, which has contributed to the expansion of the HDR market.
Request sample copy of report “High Dynamic Range Market Size, Share, and Trends Estimation Report By Type Outlook (HDR10, HDR10+, Hybrid Log-Gamma, Dolby Vision, 4K, Other), By Product Type (Capturing Devices, Display Devices) By Application Outlook (Entertainment, Consumer Orientation, Security and Monitoring, Other), Region and Forecasts, 2023 - 2030”published by Contrive Datum Insights.
Segmentation Overview:
Type Outlook:
Wide Spectrum of Light The market is segmented by product type into display devices and recording devices. In 2020, display devices accounted for 29.16% of the high dynamic range market. This was because this product was widely used for entertainment and security surveillance in industrial, commercial, and residential contexts. With HDR, display devices such as TVs, smart phones, laptops, tablets, Blu-Ray Players, Set-Top Boxes, Projectors, and others can display more information, details, clarity, contrast, breathtaking colors, and videos that resemble reality more closely. This encourages many individuals to purchase this product. To satisfy the growing demand, leading market participants are producing increasingly sophisticated displays that support HDR technology.
Application Outlook:
By Application, the market for High Dynamic Range products is segmented into Security and safety, entertainment, videography and photography, and others. From 2021 to 2026, the entertainment industry is anticipated to experience the greatest growth, with a CAGR of 19.28%. The primary reason for the growth is that an increasing number of individuals are obtaining their entertainment from movies, web series, video games, and other video content. Popularity of online streaming applications such as Netflix, Amazon Prime, Hotstar, Voot, and Hoichoi, among others, has also accelerated the growth of this market.
Regional Analysis:
Geographically, the global High Dynamic Range market has been analyzed across numerous regions, including North America, Europe, Asia-Pacific, Latin America, the Middle East, and India. In the near future, this market will be dominated by the global region.
This is because both the number of entertainment consumers and disposable incomes are rising. According to a report published in January 2021, the number of paid ASIAN Netflix subscribers had reached 25.5 million, representing a 64% increase over the previous year and making ASIAN the second largest contributor in terms of subscribers. Aside from that, the primary factors influencing this market are the expanding tourism industry and the rising number of social media consumers. According to new data from Facebook, India has the most Facebook users with over 270 million, while Indonesia has the most with 120 million. According to an IBEF study, the tourism industry in India grew by 3.20 percent in 2019. During the forecast period, the aforementioned factors are expected to generate enormous growth opportunities for both photography and videography, driving the Asian High Dynamic Range Market.
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Scope of Report:
| Report Attributes | Details |
| Growth Rate | CAGR of 25.1% from 2023 to 2030. |
| Revenue Forecast by 2030 | $126.74 Billion |
| By Type |
|
| By Product Type |
|
| By Application |
|
| By Companies |
|
| Regions and Countries Covered |
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| Base Year | 2022 |
| Historical Year | 2017 to 2022 |
| Forecast Year | 2023 to 2030 |
Market Dynamics:
Expensive barriers to market expansion: In general, HRD systems and technology are more expensive than conventional video or audio capture and processing units. This may hinder the development of the high dynamic range industry, as small or new companies may be unable to adopt these systems. In addition, the increasing competition from alternative solutions in the fraternity may result in the loss of consumer databases, as the media industry is currently experiencing a high degree of fragmentation in terms of image capture tools and software solutions. HDR systems also lack a compatibility component because, unlike traditional systems, they are not compatible with all devices.
Opportunity Analysis:
Increasing investments in the development of HDR-compatible instruments to create expansion possibilities: As demand and consumption of high dynamic range (HDR) technologies increase, other businesses in the media industry are developing HDR-compatible devices, which could contribute to increased adoption of the advanced tools. Currently, the lack of such systems is a significant factor limiting the size of the global high dynamic range market. However, as investments toward eliminating this limitation increase, industry participants can anticipate a rise in demand in the coming years. In addition, the growing interest in the development of new tools for HDR content could create additional opportunities for expansion.
Key Segments Covered:
Top Market Players:
- Samsung Electric Co.Ltd. (South Korea)
- LG Display Co.Ltd. (South Korea)
- Omnivision Technologies (U.S.)
- AppleInc. (U.S.)
- Canon Inc. (Tokyo)
- Nikon Corp. (Tokyo)
- Olympus Corp. (Tokyo)
- Pyxalis (France)
- Photonfocus (Switzerland)
- Casio Computer Co. Ltd. (Tokyo)
- Others.
By Type:
- HDR10
- HDR10+
- Hybrid Log-Gamma
- Dolby Vision
- 4K
- Others
By Product Type:
- Capturing Devices
- Display Devices
By Application:
- Entertainment
- Consumer Orientation
- Security and Monitoring
- Other
Regions and Countries Covered
- North America: (US, Canada, Mexico, Rest of North America)
- Europe: (Germany, France, Italy, Spain, UK, Nordic Countries, Benelux Union, Rest of Europe)
- Asia-Pacific:(Japan, China, India, Australia, South Korea, Southeast Asia, Rest of Asia-Pacific)
- The Middle East & Africa: (Saudi Arabia, UAE, Egypt, South Africa, Rest of the Middle East & Africa)
- Latin America: (Brazil, Argentina, Rest of Latin America)
- Rest Of the World
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