Global $2.9 Billion 8K Technology Market to 2024: Market to Grow at a CAGR of 55.5%
DUBLIN, April 9, 2019 /PRNewswire/ -- The "8K Technology Market by Product (Television (OLED, LED-LCD, QD-LCD, Micro-LED), Monitor & Notebook, Professional Camera, Projector), End User (Consumer, Sports & Entertainment, Medical), and Geography - Global Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.
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The 8K technology market is projected to reach USD 26.8 billion by 2024 from USD 2.9 Billion in 2019, recording a CAGR of 55.5%
Advancements in display technology, financial assistance by governments, and expansion of production capabilities for 8K UHD display panels; availability of various products for the creation and delivery of 8K content; and increased demand for larger-sized TVs with higher resolution are a few major factors driving the 8K technology market growth. However, factors such as limited 8K content availability and uncertainty about 8K technology use in smartphone, tablet, automotive, and several other segments are restraining the growth of 8K technology market.
Television segment is expected to hold the largest share of 8K technology market during forecast period
TV screens are larger in size than that of tablets and monitors; therefore, when differentiating on the basis of clarity and viewer experience, consumers prefer 8K TVs. They are showing interest in large-screen TVs with better picture quality as they want theater-like experience at home. Hence, the market for 8K TVs is likely to witness a significant growth rate in the coming years. Therefore, TV manufacturers have immediately accepted 8K UHD technology that allows users to see rich details even when they sit very close to the television owing to its higher resolution.
Consumers segment to dominate the 8K technology market during forecast period
The consumers segment is expected to account for the largest market share during the forecast period. 8K technology is integrated into televisions, professional cameras, monitors and notebooks, and projectors, for which consumers have high demand. Thus, the increasing use of high-resolution devices by consumers, as well as by sports and entertainment and medical industries is expected to drive the 8K technology market growth.
APAC is likely to account for major share of 8K technology market during forecast period
APAC is expected to hold the largest share of the 8K technology market during the forecast period. APAC is home to major 8K product manufacturers; moreover, the region has the largest consumer base. Companies in this region are boosting their production and broadening their distribution. Hence, APAC is expected to be the largest market for 8K technology during the forecast period. Meanwhile, North America is projected to hold the second-largest market size during the forecast period.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Attractive Opportunities for Growth of 8K Technology Market
4.2 Global 8K Technology Market, By Product
4.3 Global 8K Technology Market, By End User
4.4 8K Technology Market, By Geography
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Advancements in Display Technology, Financial Assistance By Governments, and Expansion of Production Capabilities for 8K UHD Display Panels
5.2.1.2 Availability of Various Products for Creation and Delivery of 8K Content
5.2.1.3 Increased Demand for Larger-Sized TVs With Higher Resolution
5.2.2 Restraints
5.2.2.1 Limited 8K Content Availability
5.2.2.2 Uncertainty About 8K Technology Use in Smartphone, Tablet, Automotive, and Several Other Segments
5.2.3 Opportunities
5.2.3.1 8K Broadcasts in Sports and Entertainment
5.2.3.2 Proliferation of 5g and Increasing On-Demand Content
5.2.3.3 Growth Potential in Digital Signage Space
5.2.3.4 Strong Demand for 8K Technology From Several APAC Countries
5.2.4 Challenges
5.2.4.1 High Cost of 8K Technology-Based Products
5.2.4.2 Computational Complexity and High Bandwidth Requirements for Video Streaming
6 Industry Trends
6.1 Introduction
6.2 Value Chain Analysis
6.2.1 Component Providers
6.2.2 Product Suppliers
6.2.3 Applications
6.2.4 Content Suppliers
6.2.5 End-User Industries
6.3 Status of 4K Technology
6.3.1 4K Industry Overview
6.3.2 4K Television Sets
6.3.3 4K Cameras
6.3.4 4K Projectors
6.3.5 4K Content and Broadcast
6.4 Potential of 8K Displays in Hmds
7 8K Technology Market, By Product
7.1 Introduction
7.2 Television
7.2.1 Display Technology
7.2.1.1 LED-LCD
7.2.1.2 QD-LCD
7.2.1.3 OLED
7.2.1.4 Micro-LED
7.3 Monitor and Notebook
7.3.1 Increasing Fascination of End Users for Bigger Screens With Higher Resolution to Drive Market for 8K Monitor and Notebook
7.4 Professional Camera
7.4.1 APAC to Account for Largest Demand of 8K Professional Cameras By 2024
7.5 Projector
7.5.1 Auditoriums, Full Domes, Museums, and Movie Theaters to Be Major Applications of 8K Projectors
8 8K Technology Market, By End User
8.1 Introduction
8.2 Consumers
8.2.1 Increasing Demand for Large-Sized Televisions By Consumers to Drive 8K Technology Market
8.3 Sports & Entertainment Industry
8.3.1 8K Broadcast in Sports and Entertainment Will Propel 8K Technology Market During Forecast Period
8.4 Medical Industry
8.4.1 Growing Demand of High-Resolution Monitors in Medical Applications to Push 8K Technology Market
8.5 Other Industries
8.5.1 Retail, Hospitality, Defense, Education, and Corporate Expected to Be Other Major Industries in 8K Technology Market
9 Geographic Analysis
9.1 Introduction
9.2 APAC
9.2.1 China
9.2.1.1 Growing Popularity and Awareness of High-Resolution TVs to Drive 8K Technology Market in China
9.2.2 Japan
9.2.2.1 2020 Summer Olympics Broadcast in 8K is Expected to Propel The Market in Japan
9.2.3 South Korea
9.2.3.1 Increasing Demand for 8K TVs to Drive The Market in South Korea
9.2.4 Rest of APAC
9.2.4.1 8K Technology Market Growth in Rest of APAC is Expected Mainly From TVs
9.3 North America
9.3.1 US
9.3.1.1 High Demand for 8K Products Including TVs, Cameras, and Projectors is Expected in US During Forecast Period
9.3.2 Canada & Mexico
9.3.2.1 Growing Popularity and Awareness About 8K Products to Drive 8K Technology Market in Canada & Mexico
9.4 Europe
9.4.1 UK
9.4.1.1 UK to Account for Major Demand of 8K Products in Europe During Forecast Period
9.4.2 Germany
9.4.2.1 Rising Demand for High-End Products to Drive 8K Technology Market in Germany
9.4.3 France
9.4.3.1 Strong Economic Condition to Lead France to Be Among Early Adopters of 8K Products
9.4.4 Rest of Europe
9.4.4.1 Advent of 5g in Rest of Europe to Drive 8K Technology Market During Forecast Period
9.5 Rest of The World (RoW)
9.5.1 Middle East and Africa
9.5.1.1 Increasing Consumers for High-End Products in Middle East to Drive 8K Technology Market
9.5.2 South America
9.5.2.1 Camera, Projector, and TVs to Be Major 8K Products in South America in Terms of Demand During Forecast Period
10 Competitive Landscape
10.1 Overview
10.2 Player Ranking Analysis: 8K Technology Market
10.3 Competitive Leadership Mapping
10.4 Strength of Product Portfolio
10.5 Business Strategy Excellence
10.6 Competitive Situations and Trends
11 Company Profiles
11.1 Introduction
11.2 Key Players
11.2.1 Samsung Electronics
11.2.2 LG Electronics
11.2.3 Sony
11.2.4 Sharp (Foxconn)
11.2.5 JVCKenwood (JVC)
11.2.6 Canon
11.2.7 Dell Technologies
11.2.8 Red Digital Cinema
11.2.9 Leyard Optoelectronic (Planar)
11.2.10 Digital Projection (Associate Company of Delta Group)
11.3 Other Players
11.3.1 Panasonic
11.3.2 Hisense
11.3.3 Changhong Electric
11.3.4 Viewsonic
11.3.5 TP Vision (TPV) (Philips)
11.3.6 Ikegami Tsushinki
11.3.7 TCL Corp.
11.4 Leading Display Panel Manufacturers
11.4.1 Innolux Corp.
11.4.2 Samsung Display
11.4.3 LG Display
11.4.4 Sharp (Foxconn)
11.4.5 Boe Technology
11.4.6 Au Optronics (AUO)
11.4.7 Japan Display (JDI)
For more information about this report visit https://www.researchandmarkets.com/research/j784zr/global_2_9?w=5
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