Surging attraction for high-resolution televisions and the fast-paced emergence of a wide range of items to augment the content development for 8K technology is bolstering the market growth.
Market Size – USD 3.92 Billion in 2020, Market Growth – at a CAGR of 53.1%, Market Trends – Extensive research and development activities to develop cutting edge display technologies
The global 8K Technology Market is expected to be valued at USD 117.55 Billion in 2028 from USD 3.92 Billion in 2020, registering a CAGR of 53.1% through the forecast period. The growing requirement and trend of high-resolution television experience are one the most significant factor influencing the market growth. The trend and attraction of high-resolution televisions are projected to continue over the forecast timeframe. Augmented availability of a broad spectrum of products to support the generation of content suitable for 8K is predicted to further boost the market growth.
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The escalating R&D activities for the advancements in display technologies are projected to boost the industry growth in the estimated period. Moreover, the surging requirement for consumer electronics devices and gadgets such as monitors and notebooks, televisions, and cameras are expected to propel the growth of the market. Additionally, the growing initiatives by the government to boost the 8K technology adoption is projected to further boost the development of the 8K technology in the forecast timeframe.
However, the higher costs associated with the 8K technology devices and complexities arising due to the implementation of 8K technology in tablets and smartphones are the crucial factors expected to restrain the growth of the market in the projected timeframe.
Key Highlights from the Report:
- Rapid developments in the technologies of the televisions and monitors to enhance the visual experience are backing the increased sales of the products and are adding traction to the proliferation of the television segment over the estimated period. The segment is foreseen to expand at a considerably high CAGR of 53.4% in the projected timeframe.
- Based on the resolution sub-segment, the 7680×4320 resolution is projected to command the market growth in terms of revenue generation during the estimated period. The growth can be accredited to the augmenting usage of 7680×4320 resolution in televisions with 8K resolutions.
- The entertainment sub-segment is projected to predominate the industry growth in the forecast duration owing to the escalating acceptance of 8K technology in the media and film industry to make sure the picture quality is improved and the viewer experience is enhanced.
- Asia Pacific is projected to command the market growth in the forecast duration owing to the existence of key industry players like Panasonic Corporation and Samsung Electronics Co., Ltd., and the soaring demand for 8K technology-based televisions in the region.
- Major participants in the market include Sony Corporation, Dell Technologies Inc., Panasonic Corporation, JVCKENWOOD Corporation, Samsung Electronics Co., Ltd., BOE Japan Co., Ltd., Canon Inc., Sharp Corporation, LG Electronics Inc., and Red.com LLC.
- JVCKENWOOD Corporation, in September 2020, upgraded the preexisting 4K and 8K e-shift projectors with a radical enhancement of the output that dynamically shifts the HDR to a unique home theater setting.
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For the purpose of this report, Emergen Research has segmented the global 8K technology market on the basis of product, resolution, end-use, and region:
Product Outlook (Revenue, USD Billion; 2021–2028)
- Organic Light-Emitting Diodes (OLED)
- Light-Emitting Diode (LED)
- Liquid-Crystal Display (LCD)
- Quantum Dot Liquid Crystal Displays (QD-LCD)
- Monitor & Notebook
Resolution Outlook (Revenue, USD Billion; 2021–2028)
- 7680 x 4320
- 8192 x 8192
- 8192 x 5120
- 8192 x 4320
End-use Outlook (Revenue, USD Billion; 2021–2028)
Regional Outlook (Revenue, USD Billion; 2021–2028)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- Rest of MEA
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