The 8K Market was valued at USD 2.89 billion in 2019 and is expected to reach USD 15.96 billion by 2025, at a CAGR of 32.9% over the forecast period 2020 - 2025.
- With the advancement display technology along with the increase in demand for high-resolution TVs among the consumers is creating a positive outlook on 8K technology market growth. The large screen large-screen and high-resolution TVs offer better quality and realistic images, as well as an enhanced viewing experience.
- Further, the 8K imaging systems have a high pixel count, that gain more preference over the traditional imaging techniques. The high resolution afforded by 8K technology provides a level of detail which is used for telemedicine and by surgeons and medical students over remote connections in also driving the 8k technology in healthcare. Thus the demand for 8K technology in healthcare is propelling.
- However, on the flip limited 8K content availability is restraining the market growth. Along with that high cost related to 8K technology-based products is also challenging the market.
Scope of the Report
8K technology commonly referred to as ultra-high definition technology which offers a resolution of 7680 x 4320 pixels.8K technology is being implemented in different resolutions and 8K is a higher resolution standard than 4K. The 8K is experiencing an increase in applications from different fields of applications such as healthcare & medical, entertainment and commercial industries. Further, the 8K market has bright prospects in the consumer electronics segment. Products, like cameras, TVs, and monitors, along with projectors and large commercial displays, are being developed with 8K capabilities for the mass market.
Key Market Trends
Television Segment is Expected to Have Significant Growth
- With the advanced facilities, companies produce very large LCD sheets, called mother glass, from which TV display panels are cut. As a result, bigger TV panels can be produced with less waste, helping to drive down costs and consumer prices.
- Moreover, according to Samsung, people have moved from 32 inches to 55 inches as the average screen size now. This is a trend towards larger screen technologies this is due to the big bezels and backs that often came attached to the display itself have disappeared. That means that people can fit much more screen in the same amount of space and that the TVs themselves aren't quite so ugly, meaning that the average display size has quickly shot up.
- Further, 8K technology provides display video at 120 frames per second rather than the current 60 frames per second. Thus the sports networks are especially interested in this technology. By doubling the number of frames displayed each second, it can help reduce motion blur during fast-moving action.
- Along with that in the United States, the demand for 8K Ultra HDTV is increasing year on year. They are the early adopters of this technology. And thus, the above factors are expected to have a positive outlook in the 8K television market.
Asia-Pacific to Witness the Fastest CAGR
- In the Asia-Pacific region, China and Japan dominate the 8K technology market. China is emerging as a leading consumer product manufacturing hub with local players expanding their market share in all segments. Therefore, China is expected to exhibit high growth in the 8K technology market.
- Along with that Japan has introduced a broadcast channel dedicated to 8K content, and this gives us a great early look of the complicated requirements. To enjoy any of the 8K media, you will need an 8K TV, a dedicated satellite to receive the transmission, and in some cases a replacement for boosters and distributor boxes. Additionally, Japan is pioneering this technology with plans to broadcast the 2020 Olympics in 8K.
- Therefore, China and Japan will be among the highest growth registering countries in the 8K technology market. Thus, in result it will make the Asia-Pacific region to witness the fastest CAGR growth rate among all other regions during the forecasted period.
The 8K market is highly fragmented and competitive because of the presence of major players. Some companies like Samsung Electronics, LG Electronics, Sony Corporation, Sharp Corporation, Canon Inc., Red Digital Cinema, Dell Technologies are the major players in the 8K technology market. These players are focusing on strengthening their presence in the 8K technology market in order to meet increasing demand from the consumer electronics industry with high demand for better display screens and technological advancements in micro-LEDs.
- January 2019 - Samsung Electronics showcased a 98-inch QLED 8K TV at CES 2019. It features a resolution of 7680Hx4320, high light output, and full-array local dimming.
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