What Has Been the Progress and Growth of the 8K Technology Market in Recent Years?
The 8k technology market has seen considerable growth due to a variety of factors.
•In the past few years, we have seen a significant expansion in the 8K technology market size. The projection is that it will escalate from $15.31 billion in 2024 to $22.75 billion in 2025, exhibiting a compound annual growth rate (CAGR) of 48.6%.
Factors contributing to this growth during the historical period include increased consumer preference for higher resolution, advancements in content generation and production, broadcasting innovations, the boom in the gaming industry, and enhancements in connectivity and bandwidth.
What Can Be Expected from the 8K Technology Market in the Coming Years?
The 8k technology market is expected to maintain its strong growth trajectory in upcoming years.
• The market size of 8K technology is projected to undergo significant expansion in the coming years, reaching a worth of $97.07 billion by 2029 with a 43.7% compound annual growth rate (CAGR).
The anticipated growth during the forecast period can be credited to factors such as market broadening and adoption, an increase in content availability, leaps in panel production technology, a sustained demand for superior quality, and strides in compression technology. Key trends expected to emerge during the forecast period include improvements in display technology, the broadening of 8k content creation, the installation of 8k displays in a range of devices, enriched user interface and interaction, as well as HDR and colour enhancements.
What Main Forces Are Fueling Expansion In The 8K Technology Market?
The expansion of the 8K technology market is predicted to be fueled by the growing demand for consumer electronics. These electronics are designed for both daily and professional use by consumers. 8K technology enhances the visual experience on such devices. As pointed out by the Japan Electronics and Information Technology Industries Association, a trade association based in Japan, the country's total production of electronic equipment in May 2023 hit 771,457 units. Furthermore, the production of consumer electronics escalated to 32,099 units in the same period, up from 25,268 units in May 2022. Consequently, the increased demand for consumer electronics is propelling the advancement of the 8K technology market.
What Are The Primary Segments In The Global 8K Technology Market?
The 8K technology market covered in this report is segmented –
1) By Product: 8K Television, 8K Camera, 8K Monitors Or Laptops, 8K Projectors, Other Products
2) By Resolution: 7680 x 4320, 8192 x 8192, 8192 x 5120, 8192 x 4320
3) By End-User: Consumer, Sports And Entertainment, Healthcare, Other End-User
Subsegments:
1) By 8K Television: OLED 8K TVs, QLED 8K TVs, LCD 8K TVs
2) By 8K Camera: Professional 8K Cameras, Consumer 8K Cameras, 8K Action Cameras
3) By 8K Monitors Or Laptops: 8K Gaming Monitors, 8K Professional Monitors, 8K Laptops
4) By 8K Projectors: Home Theater 8K Projectors, Professional 8K Projectors, Portable 8K Projectors
5) By Other Products: 8K Streaming Devices, 8K Content Creation Tools, 8K Video Editing Software
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Which Key Trends Are Driving Changes In The 8K Technology Market?
The rise of technological advancements is a leading trend that's gaining traction in the 8K technology market. Major firms in this market are creating innovative solutions to solidify their market presence. For example, in April 2024, Samsung Electronics Co. Ltd., an appliance and consumer electronics company from South Korea, introduced Neo QLED 8K, Neo QLED 4K, and OLED TVs. These TV sets, powered by artificial intelligence, come with state-of-the-art features like the NQ8 AI Gen3 processor, AI Picture Technology, and AI Sound Technology, enhancing both image detail and sound precision. Their uniqueness lies in offering a deeply immersive, customized viewing experience, brought about by features like AI-driven upscaling, motion boost, and smart connectivity, thus redefining the standards of home entertainment.
Who Are the Key Players in the 8K Technology Market?
Major companies operating in the 8K technology market include:
• Samsung Electronics Co. Ltd.
• Dell Technologies Inc.
• Sony Corporation
• Panasonic Corporation
• LG Electronics Inc.
• Canon Inc.
• BOE Japan Co. Ltd.
• Fujifilm Corporation
• Sharp Corporation com LLC.
• MediaTek Inc.
• AU Optronic
• AUO Corporation
• Innolux Corp.
• ROHM.Co.Ltd.
• Novatek Microelectronics Corp.
• JVCKenwood Corporation
• Vizio Inc.
• Leyard Optoelectronic
• Hisense Co. Ltd.
• EIZO Corporation
• ViewSonic Corporation
• IMAX Corporation
• Kinovis Inc.
• Red Digital Cinema
• Macroblock Inc.
• Digital Projection Ltd.
• MainConcept GmbH
• TP Vision
• Joled Inc.
• Spin Digital Video Technologies GmbH
What Is The Most Dominant Region In The 8K Technology Market?
North America was the largest region in the 8K technology market in 2024. Asia Pacific is expected to be the fastest-growing region in the 8K technology market report during the forecast period. The regions covered in the 8k technology market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
