8K Technology Market

Market Study on 8K Technology: Media, Advertising & Entertainment Sector to Drive Most Demand Growth

8K Technology Market Segmented By 8K Television Technology, 8K Camera Technology, 8K Monitors/Laptops, 8K Projectors Product

Market Snapshot

As per Persistence Market Research’s analysis on the 8K display technology market, global 8K technology revenue is expected to top US$ 13 Bn in 2021, with the market projected to surge massively at 45.5% CAGR through 2031.

8K technology products comprise nearly 10% of the global display technology market in 2021. 8K technology offers myriad of benefits over conventional displays such as high resolution picture. Ultra-high Definition (UHD) display and high-definition 8K content is far superior as compared to the resolution of 4K display technology. 8K televisions are set to enjoy the largest market share, while demand for 8K cameras is forecast to surge at 54% CAGR from 2021-2031.

8K Technology Market Size (2020)

US$ 9.2 Bn

Market CAGR (2021 to 2031)

45.5%

8K Technology Sales Value (2031)

US$ 550 Bn

Share of Top 5 Providers

40% - 45%

Find Out More about the Report Coverage

Companies

  • Dell Technologies
  • Red Digital Cinema
  • Viewsonic
  • Panasonic
  • Ikami Electronics
  • Digital Projection
  • TP Vision
  • Samsung Electronics
  • LG Electronics
  • Sony Corporation
  • Sharp Corporation
  • Canon Inc.
  • Innolux Corp.
  • BOE Technology
  • AU Optronic
  • JVC Kenwood

8K Technology Demand Analysis from 2016-2020 Compared to Market Outlook for 2021-2031

The global 8K technology market size expanded at 42.3% CAGR from 2016 to 2020, and is estimated to be valued at around US$ 13 Bn in 2021.

The COVID-19 pandemic adversely impacted almost all sectors with consumer electronics being one of them. The electronics industry was affected in several ways such as increased counterfeiting and shipping delays, and changing consumer behavior and environmental viewpoints.

The market for electronics is well-embedded across Europe, North America, Asia Pacific, and the rest of the world. However, major consumer electronics market share is held by Asia (especially China). Companies such as Samsung, Panasonic, Sony, Huawei, Hitachi, and several others are electronics industry-based companies in the region that are shaping 8K adoption and 8k AI upscaling technology.

The total absolute $ opportunity for 8K technology products estimated for the forecast period of 2021 to 2031 is around US$ 532 Bn.

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Will Advancements in Display Technology Drive Market Growth?

Over the past few decades, technological advancements have come a long way and are further expected to increase at a higher pace over the coming years. With new innovations and developments being made, most tech companies are jumping on the bandwagon for being the first to develop latest inventions. All heavy-hitting technology players have one thing in common, which is resolution, at the time of releasing new devices, which is a key point as one of the selling features.

Display technology is evolving at an exponential level. The shining outlook of 8K display resolution used in televisions is the biggest buzz to hit the electronics world in recent years. Higher resolution is creating a new immersive user experience. This technology represents a major step toward an immersive experience for consumers as far as electronic devices are concerned.

8K resolution technology can be simply seen as the next stage in the SD→HD→4K→8K trend, as it assures to offer significant performance enhancements. Display technology advancements have created a positive outlook for 8K market growth.

8K imaging systems have a high pixel count, which is favored over conventional imaging techniques, as they entail advanced picture technology. High-resolution TVs and large screens provide better quality and realistic images and an enhanced viewing experience.

8k-technology-market

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Country-wise Insights

Why is Demand for 8K Technology Surging across the U.S.?

According to Persistence Market Research analysis, 8K technology spending in the U.S. alone is likely to increase at the rate of 53.4% from 2021 to 2031, up from a market value of US$ 1.7 Bn in 2021.

The U.S. is anticipated to remain the largest market for 8K technology in North America. Rising trend of gaming has resulted in growing demand for gaming monitors, which has positively impacted 8K technology market growth. Additionally, increasing demand for large-sized TVs with high resolution as well as growing expenditure on R&D in the country are major factors bolstering 8K resolution market growth.

Why are 8K Technology Solution Providers Eyeing China?

According to Persistence Market Research analysis, the market for 8K technology in China is likely to accelerate at a CAGR of around 41.9% from 2021 and 2031.

China is developing as a prominent consumer product manufacturing hub with major players increasing their market share in all segments. Currently, China's high-end television manufacturers are focusing on 5G-powered 8K ultra-high definition TVs, which are the future of displays.

Manufacturers are all beefing up efforts to outclass each other in this new premium TV niche. Thus, China is anticipated to exhibit high 8K technology sector growth.

  • For instance, in April 2020, Sichuan Changhong Group released new 5G-8K TV products, which are of 5G networks combined with UHD TV technology, with the advantages of high speed, low latency, and large capacity.

How are 8K Technology Sales Faring across Japan?

The market for 8K products in Japan is anticipated to witness growth in revenue from around US$ 1.87 Bn in 2020 to US$ 145.5 Bn by 2031. Japan accounted for the highest CAGR and is expected to continue to grow at the same pace during the forecast period.

Japan's public broadcaster NHK launched the first 8K TV channel, and this gives an in-depth look at all the complicated requirements involved. UHD format features four times 4K resolution, weighing in at 33 million pixels and 22.2 multi-channel sound. Therefore, one will need an 8K TV to enjoy 8K media, a dedicated satellite to receive transmission, and also a replacement for distributor boxes and boosters.

With the commencement of 5G in Japan, 8K will grow considerably over the coming years in the country.

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Category-wise Insights

Will 8K Technology Television Sales Dominate the Landscape?

On the basis of product, 8K technology sales are segmented into televisions, cameras, monitors/laptops, projectors, and others. Televisions dominated the market with a major market share of 51.2% in 2020.

TV sets gained popularity during the lockdowns due to the Covid-19 pandemic in 2020. Increased disposable income coupled with shift in consumer preference have also been supporting factors for rising demand for TVs with high resolution. This has immensely influenced demand for larger-sized TVs with higher resolution, improved angle, and high clarity.

Technological advancements are being witnessed in the last few years with growing demand for ultra-high definition screens and displays among end users, attributed to enhanced picture quality, brighter colors, and image depth. As such, the 8K televisions segment is anticipated to grow rapidly over the coming years.

What are the Prospects for Sales of 8K Technology to Media, Advertising & Entertainment?

In terms of end use, the market is segmented into consumer electronics, media, advertising & entertainment, medical & healthcare, education, and others. The media, advertising & entertainment segment is expected to register a higher CAGR of 51.8%, while also creating an incremental opportunity of US$ 216 Bn through 2031.

Increasing demand for high-resolution devices in the sports & entertainment industry is expected to impact market growth positively. As 8K technology provides display videos at 120 frames per second rather than the current 60 frames per second, sports networks are showing a keen interest in this technology for reducing motion blur during fast-moving action.

Gaming, cinema, and advertisement industries are significantly adopting 8K technology as it can provide high-quality images with a clearer picture.

Use of technologically advanced cameras in the sports and entertainment industry is increasing for capturing images with high resolution picture clarity from a long distance. Moreover, in the entertainment industry, 8K technology-enabled cameras are experiencing high growth attributed to increasing demand from filmmakers and professional photographers, owing to their ability to capture much better images.

Impact of COVID-19 on 8K Technology Product Sales

In response to the COVID-19 pandemic, 8K technology product manufacturers are taking special measures to meet customer demand for high-end technology products. Consume electronics was one of the most affected industries due to the COVID?19 outbreak. COVID-19 also disturbed the global supply chain of major consumer electronics brands.

China is the largest producer and consumer of consumer electronic products, but also caters to a wide range of countries by exporting several input supplies that are used to produce finished goods. Production shutdowns in China forced other consumer electronics makers based in the U.S. and Europe to temporarily hold the production of finished goods, resulting in an increase in the supply and demand gap.

Major electronics manufacturers to get affected by the pandemic include Apple Inc., GoPro Inc., Canon Inc., Hitachi Ltd., LG Electronics Inc., Huawei Technologies Co. Ltd., Nikon Corp., Samsung Electronics Co., Ltd., Panasonic Corp., Toshiba Corp., and several others.

According to Persistence Market Research’s study, demand for 8K technology is estimated to rise from 44.5% in 2019 to 41% in 2021.

Competitive Landscape

Companies providing 8K technology solutions are aiming at product innovation and strategic partnerships with other vendors to develop their product portfolios while addressing the demand of an expanding customer pool. Introduction of new products and strategic partnerships are frequent in this landscape.

  • In January 2017, Dell Technologies launched the first 8K 32-inch monitor. The new product can show 16X clearer content than full-HD and four times more than Ultra HD 4K resolution. It offers a pixel density of 280ppi and over 33.2 million pixels of resolution.
  • In October 2021, Nuance Communications Inc. announced a partnership with B&H. This partnership helped the company utilize non-full-frame lenses in S35 mode, and the camera has built-in features to make internal adjustments to accommodate a wide range of lenses.

8K technology product manufacturers are also focusing on entering into partnerships with technology and digital solution providers to target new innovations within the market. This strategy helps companies broaden their geographic reach with additional service portfolios.

8K Technology Industry Report Scope

Attribute

Details

Market value in 2021

US$ 12,939.4 Mn

Market CAGR 2021 to 2031

45.5%

Share of top 5 players

  • Samsung Electronics
  • LG Electronics
  • Sony Corporation
  • Sharp Corporation
  • Canon

Forecast period

2021-2031

Historical data available for

2016-2020

Market analysis

  • USD million for Value
  • (000’ Units) for Volume

Key regions covered

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia and Pacific
  • Middle East & Africa

Key countries covered

  • US
  • Canada
  • Germany
  • U.K.
  • France
  • Italy
  • Spain
  • Russia
  • China
  • Japan
  • South Korea
  • India
  • Thailand
  • Malaysia
  • Indonesia
  • Australia
  • New Zealand
  • GCC countries
  • Turkey
  • Northern Africa
  • South Africa

Key market segments covered

  • Product
  • End Use
  • Region

Key companies profiled

Report coverage

  • Market Forecasts
  • Company Share Analysis
  • Competition Intelligence
  • DROT Analysis
  • Market Dynamics and Challenges
  • Strategic Growth Initiatives

Customization & pricing

Available upon request

Categorization of 8K Technology Industry Research

Product

  • 8K Television Technology
  • 8K Camera Technology
  • 8K Monitors/Laptops
  • 8K Projectors
  • Others

End Use

  • 8K Technology in Consumer Electronics
  • 8K Technology in Media, Advertising & Entertainment
  • 8K Technology in Medical & Healthcare
  • 8K Technology in Education
  • Others

Media Release

- FAQs -

The global 8K technology market is currently valued at around US$ 13 Bn in the year 2021.

Demand for 8K technology increased at 42.3% CAGR from 2016 to 2020.

8K technology displays see immense demand in medical applications, which is one of the major factors positively driving market growth.

According to Persistence Market Research analysis, China, Japan, the U.S., and South Korea are key countries providing 8K technology solutions.

East Asia dominated the global market for 8K technology, accounting for 58.5% market share in 2020.

The North American market for 8K technology is expected to surge at a CAGR of 51.9% from 2021 to 2031.

The consumer electronics sector is expected to dominate the market, generating revenue of US$ 5.9 Bn in 2021.

Samsung Electronics, LG Electronics, Sony Corporation, Sharp Corporation, and Canon are the top 5 players in 8K technology.

Demand for 8K technology in Japan and South Korea is expected to account for 35.06% and 17.91% value share in 2021, respectively, in the East Asia market.

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