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High Dynamic Range Market by Type (HDR10, HDR10+, Hybrid Log-Gamma, Dolby Vision and 4K)
The High Dynamic Range (HDR) Market is expected to witness significant growth from 2022 to 2032, at a CAGR of 16.5%. High dynamic range demand is estimated to increase from US$ 17.2 billion in 2021 to US$ 93.3 billion by the end of the forecast period (2022 to 2032).
In recent years, high dynamic range technology has seen increased adoption due to the improved visual experience it provides to viewers. Demand for a wide range of brightness and color in images and videos is likely to present manufacturers with lucrative opportunities.
In terms of product type, capturing devices are expected to be the leading segment in the market. This segment is expected to witness growth at a CAGR of 16.4% from 2022 to 2032. By application, entertainment is predicted to be the leading segment for HDR technology, registering a CAGR of 16.3% over the forecast period.
Regionally, North America is expected to spearhead the high dynamic range market, with the United States leading the growth in the region. The country is expected to witness growth at a CAGR of 14.6% from 2022 to 2032.
Sales are projected to reach US$ 14.2 billion by 2032 in the USA HDR market. Besides the USA, the United Kingdom market is expected to be the second-leading country in the global market. Demand in the United Kingdom is predicted to grow at a CAGR of 14.2%, surpassing US$ 2.4 billion by 2032.
Persistence Market Research (PMR) suggests HDR manufacturers are likely to focus on innovation and development of capturing devices and entertainment applications. These two segments are expected to remain the key drivers in the high dynamic range market.
Novel technology in capturing devices and partnering with content creators to provide high dynamic range content would be key areas of opportunity.
| Attributes | Key Insights |
|---|---|
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High Dynamic Range Market Estimated Size (2022E) |
US$ 21.4 billion |
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Projected Market Valuation (2032F) |
US$ 93.3 billion |
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Value-based CAGR (2022 to 2032) |
16.5% |
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USA Value-based CAGR (2022 to 2032) |
14.6% |
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As per Persistence Market Research (PMR), historically, from 2017 to 2021, the value of the high dynamic range industry increased at around 25% CAGR. With an absolute $ opportunity of US$ 71.9 billion, the market is projected to reach a valuation of US$ 93.3 billion by 2032.
Growth is due to the rising traction in the entertainment sector which has been at the forefront of incorporating HDR technology. The demand for high dynamic range equipment has increased significantly from 2017 to 2021 and this trend is expected to continue between 2022 and 2032.
The high dynamic range video camera market is also expanding due to an increased demand for powerful cameras for use in photography and media outlets. This trend is serving as a significant driver for market expansion.
This target market provides a large accumulating limit, simple sharing and altering, various capabilities, and simple connection with television (TV) and personal computer (PC).
An expanded requirement for high dynamic range innovation is broadening the range of user settings. With high development and vast potential for computerized cinematography, the demand for cheap high dynamic range gadgets is projected to increase.
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The factors restraining the market are the inflated cost of high dynamic range displays and storage issues while shooting in high dynamic range devices.
One of the main disadvantages of this technique is that high dynamic range photographs take up a lot of storage space on devices.. It is also extremely tough to use HDR technology to capture images without tripod and bracketing provisions.
A range of software is often required to create the final product of such high dynamic range images. The need for additional processing and refinement, has the ability to hamper market growth.
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Asia Pacific is considered to account for a significant share in market over the forecast period. By end of 2032, it is projected that the high dynamic range industry will hit 4x valuation than what was estimated for 2022.
The projected CAGR of Asia Pacific is about 48.9% over the forecast period. Market revenue is expected to reach US$ 45 billion by 2032, growing from approximately US$ 10 billion in 2022. The growing need for high dynamic range technology in the entertainment and gaming sector has led to the expansion of this market in the region.
Increasing tech-savvy consumers who are increasingly demanding high quality entertainment experiences is one of the key factors boosting the market. The region is also home to several key players in the entertainment and gaming industries, including Tencent and Sony.
Why is the Demand for HDR Technology Rising in the United States?
In the United States, the market is expected to grow to be worth US$ 14.2 billion by 2032, with an absolute $ growth of US$ 10.5 billion. The United States high dynamic range industry has grown at a CAGR of 21.4% from 2017 to 2021 and is expected to grow at a CAGR of 14.6% through the forecast period.
As consumers continue to shift towards mobile devices for their entertainment needs, companies in the high dynamic range technology ecosystem are adapting to meet these demands.
Growth of streaming services and mobile gaming also plays a significant role in the growth of the high dynamic range sales in the United States. With the projected growth in the industry, companies can invest in research and development to improve their offerings and stay ahead of the competition.
As more consumers prioritize mobile entertainment, the HDR industry in the USA will continue to see significant growth in the coming years.
In September 2022, iPhone 14 and iPhone 14 Plus were introduced by Apple Inc, the United States-based mobile manufacturer. Both versions included features for improved thermal efficiency, Super Retina XDR, screens with OLED technology, a 2,000,000:1 contrast ratio, and Dolby Vision.
This launch gained high traction in the entertainment industry, affecting other players in the market. This is also reflected in the emerging demand for HDR innovation and technologies in the United States market.
Will China Vanguard the High Dynamic Range Sales in the Global Market?
China high dynamic range market is poised for significant growth, with an expected worth of US$ 23.7 billion and an absolute growth of US$ 19 billion by 2032. From 2017 to 2021, the market experienced a remarkable CAGR of 27.4%, and it is expected to continue growing at a CAGR of 17.4% from 2022 to 2032.
Growth in China’s high dynamic range industry is driven by several factors. This includes the increasing demand for advanced entertainment technologies and the expanding gaming industry. China also has a vast consumer base that is highly receptive to new and innovative mobile phones and home entertainment products.
In March 2023, HISENSE 70A71F 70” UHD TV was launched by Hisense, a Chinese company. The 70A71F supports high dynamic range content and has picture improving capabilities like noise reduction and ultra-dimming technology, the latter of which provides increased contrasts.
The UHD AI upscaling technology can turn standard high-definition footage into UHD 4K-like quality. The 70A71F is a sleek and attractive device that runs Android T 9.0 Pie. The 70A71F also has a chromecast and google assistant.
This Hisense 70A71F provides up to double the viewing area of a 50-inch TV and, when combined with Dolby Atmos, gives a strong output of 36 Watts of pure multi-dimensional sound.
How Big is the Opportunity for High Dynamic Range Technology in South Korea?
The market for HDR technology in South Korea is expected to grow to be worth US$ 5.7 billion, with an absolute $ growth of US$ 4.4 billion by the end of the forecast period. The high dynamic range industry in South Korea has grown at a CAGR of 26.6% from 2017 to 2021 and is expected to grow at a CAGR of 16.4% from the year 2022 to 2032.
South Korea is home to some of the leading electronics companies in the world, such as Samsung, LG, and Sony. These companies have been at the forefront of developing and introducing new HDR technologies and products.
For example, Samsung's Crystal 4K Neo TV has been designed to deliver a stunning visual and audio experience, with HDR10+ dynamic tone mapping and Dolby Digital Plus sound.
LG's OLED TVs are also known for their superior high dynamic range performance, with support for HDR10, Dolby Vision, and HLG.
South Korea also has a growing gaming industry, which is expected to drive demand for high dynamic range technology in gaming displays and consoles. Companies like Nexon and NCSoft are some of the biggest players in the industry and are constantly pushing the boundaries of what is possible in gaming.
The manufacturers operating in South Korea should expect continued growth and demand for their products, particularly in the consumer electronics and gaming sectors.
With the country's strong emphasis on technology and innovation, it is likely that new and exciting high dynamic range products and technologies will continue to emerge from South Korea over the forecast years.
Which Type of High Dynamic Range Technology will be the Most Preferred?
Capturing devices are projected to witness significant growth. It has several applications in the entertainment sector as well as the video streaming sector. The CAGR for capturing devices was around 24.5% from 2017 to 2021 and is forecasted to grow at an estimated 16.4% through the end of 2032.
Growth of capturing devices in the high dynamic range industry is driven by numerous factors. The prominent ones are increasing demand for high quality video content, the growing popularity of video streaming services, and the increasing adoption of high dynamic range technology in various industries. These industries include entertainment, gaming, sports, and the likes.
Increasing investment in research and development activities to develop advanced high dynamic range capturing devices is expected to further drive the growth of this segment.
Factors such as increasing consumer spending on entertainment and the rising demand for enhanced viewing experience are expected to support the growth of the capturing devices segment in the high dynamic range market.
Which is the Leading Industry for the High Dynamic Range Technology Manufacturers?
As per the study, the prominent application of the high dynamic range industry is in the entertainment segment. The expansion of this vertical can be connected to the increasing need for customized equipment.
The CAGR for the entertainment industry was around 24% from 2017 to 2021 and is forecasted to grow by 16.3% by the end of 2032.
Content creators, broadcasters, and distributors of digital media such as movies, TV series, and video games are all part of the media and entertainment sector.
High dynamic range technology is especially suitable for this market since it improves the visual quality of digital material, making it more immersive and engaging for consumers.
The rising desire for high quality content is driving the adoption of HDR technology in the media and entertainment business. The availability of inexpensive high dynamic range enabled devices, such as televisions and gaming consoles are also major reasons behind growth.
The growing popularity of streaming services, which are increasingly presenting high dynamic range material to their users, is hastening the adoption of HDR technology. This trend is projected to continue as more people abandon traditional cable and satellite TV in favor of streaming options.
Leading players are always coming up with innovative ways to provide high-quality products, as well as patent their technologies. Product launches and expansion of product lines also help these players stay competitive. The players, who currently hold a small market share, are constantly aiming to grow their market share in the high dynamic range industry.
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| Attribute | Insights |
|---|---|
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Estimated Market Size (2022) |
US$ 21.4 billion |
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Projected Market Valuation (2032) |
US$ 93.3 billion |
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Value-based CAGR (2022 to 2032) |
16.5% |
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Forecast Period |
2022 to 2032 |
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Historical Data Available for |
2017 to 2021 |
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Market Analysis |
Value (US$ billion) |
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Key Regions Covered |
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Key Countries Covered |
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Key Segments Covered |
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Key Companies Profiled |
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Report Coverage |
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The high dynamic range market was reported at US$ 17.2 billion in 2021.
The global high dynamic range market is estimated to be valued at US$ 21.4 billion in 2022.
The high dynamic range market is expected to reach a valuation of US$ 93.3 Billion by 2032.
The high dynamic range industry registered a CAGR of 25% over the last 4 years.
The high dynamic range industry is projected to witness a CAGR of 16.5% from 2022 to 2032.
Capturing devices, by product type, in the high dynamic range industry is expected to garner a significant value share by 2022.
Estimates predict that between 2022 and 2032, the high dynamic range industry in China would increase at a CAGR growth of around 17.4% from 2022 to 2032.
Between 2022 and 2032, it is anticipated that sales of the high dynamic range market in the United States will increase at a CAGR of around 21.4%.
The Estimates predict that between 2022 and 2032, the high dynamic range market in South Korea will increase at a CAGR of around 16.4% and there will be a CAGR growth of 16.1% In Japan.
