8K Technology Market by Product (Television, Monitor & Notebook, Professional Camera and Projector) by End-user (Consumer, Sports & Entertainment, Healthcare and Others)- Global Opportunity Analysis and Industry Forecast, 2020 – 2030

Market Definition

The Global 8K Technology Market was valued at USD 3.32 billion in 2019 and, and is predicted to reach USD 4.01 billion by 2030, with a CAGR of 33.3% from 2020 to 2030. There is a rising demand for 8K technology owing to the increasing demand for large sized television with higher resolution.

Also, there has been a significant advancement in the overall display technology and improvement in the production capabilities for 8K UHD display panels in recent times. To some extent, this is backed by initiatives and financial assistance provided by various governments in order to boost manufacturing of technologically advanced products in their country.

Market Dynamics and Trends

The advancements in the overall display technology, especially in the televisions is a major factor driving the overall growth of 8K technology market. In recent years, consumer preference has been shifted towards larger television sets with high resolution. This has resulted in new higher demand for 8K technology.

The resolution of 8K televisions is around twice as higher than the 4K UHD televisions and is sixteen time higher than the normal full HD televisions. Higher resolution means there would be more number of pixels that make up the overall screen.

An average 8K television consists of a screen that has 7,680 pixels horizontally and 4,320 pixels vertically. This plays a crucial role in the overall viewing experience. 8K technology is more compelling in large public places, where live shows and other events are held.

There is a limited usage of 8k televisions in residential homes as 8k technology requires 98 inch screen which might not affordable across all section of the population. Additionally, limited availability of 8K content is one of the many factors hindering the growth of the global 8K technology market.

On the other hand, rising demand for 8K broadcasts in the entertainment and sports industry is generating new opportunity for the market players during the forecast period. Also, increasing on-demand content coupled with the proliferation of 5G is further triggering the market growth. However, high cost of 8K technology based products and high bandwidth requirements for video streaming is a major challenge to the 8K technology market players.

Market Segmentations and Scope of the Study:

The global 8K technology market is segmented on the basis of product and end-user. On the basis of product the market has been segmented into product and end user. By Product, the market is segmented into television, Monitor and Notebook, Professional Camera, Projector different end-use, the market has been segmented into consumers, sports & entertainment industry, healthcare industry and others. Geographic breakdown and analysis of each of the aforesaid segments includes regions comprising North America, Europe, Asia-Pacific, and RoW.

Geographical Analysis

In terms of region, Asia Pacific is expected to witness the fastest growth during the forecast period. China and Japan dominated the market in the Asia Pacific region. China is considered as the leading consumer product manufacturing hub with several local players expanding the market share across all segments. Therefore, China is expected to witness significant growth in the coming years.

Further, Japan is focusing upon adopting new technology which is also triggering the market growth of 8K technology market in other developed and developing countries. For instance, in 2019, NHK introduced a broadcast channel in that is dedicated towards the advancements related to 8K content.

Competitive Landscape

Some of the major players operating in the market are Samsung LG Electronics (South Korea), Sony Corporation (Japan), Electronics (South Korea), Sharp Corporation (Japan), Canon Inc. (Japan), Red Digital Cinema (US), Dell Technologies (US), Leyard Optoelectronic (China), and Digital Projection (UK)JVCKENWOOD Corporation (Japan) among others. New product development, strategic merger & acquisition, geographic expansion, product portfolio expansion are some of the strategies that are adopted by the companies in order to grab a large part of the market share in the coming years.

For instance, LG Electronics introduced 8K OLED television at IFA 2018 that featured 33 million self emitting pixels. The television grabbed significant number of customer attention and this resulted in high profit generation LG Electronics in that particular year.

Samsung launched next generation QLED 8K line in January 2020 in Las Vegas. The product offered the glimpse of the future of display technology and combined new innovation that grabbed a significant attention from the customers. Also in 2019, Samsung launched specialized 8K AI enabled up scaling technology.

This AI enabled upscaling technology uses the method that collects and gets a learning regarding the variety of content characteristics that are segregated by type and it stores them in the database. It then later uses the database in order to process the similar types of images thus making it sophisticated upscaling process.

Key Benefits

• The 8K technology market report provides the quantitative analysis of the current market and estimations through 2020-2030 that assists in identifying the prevailing market opportunities to capitalize on.

• The study comprises a deep dive analysis of the 8K technology market trend including the current and future trends for depicting the prevalent investment pockets in the market.

• The information related to key drivers, restraints and opportunities and their impact on the 8K technology market is provided in the report.

• New technologies that are adopted by the organizations is also depicted in the report

• The competitive analysis of the market players along with their market share in the global 8K technology market.

• The SWOT analysis Porters Five Forces model and Regional Dynamics is elaborated in the study.

• Value chain analysis in the market study provides a clear picture of the stakeholders’ roles.

Key Market Segments:

By Product

• Television

  • Display Technology

    • OLED

    • LED-LCD

    • QD-LCD

    • Micro LED

• Monitor and Notebook

• Professional Camera

• Projector

By End-user

• Consumer

• Sports & Entertainment

• Healthcare

• Others

By Geography

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • UK

  • Italy

  • Germany

  • Spain

  • Netherlands

  • Rest of Europe

• Asia-Pacific

  • China

  • Japan

  • India

  • Australia

  • South Korea

  • Taiwan

  • Vietnam

  • Rest of Asia Pacific

• RoW

  • Latin America

  • Middle East

  • Africa

REPORT SCOPE AND SEGMENTATION:

Test