8K Technology Global Market Report 2024

The 8k technology market size has grown exponentially in recent years. It will grow from $10.38 billion in 2023 to $15.5 billion in 2024 at a compound annual growth rate (CAGR) of 49.3%. The growth observed in the historical period can be credited to several factors, including heightened consumer demand for higher resolution, advancements in content creation and production, innovations in broadcasting, the flourishing growth of the gaming industry, and improvements in connectivity and bandwidth.

The 8k technology market size is expected to see exponential growth in the next few years. It will grow to $68.97 billion in 2028 at a compound annual growth rate (CAGR) of 45.2%. The anticipated growth in the forecast period can be ascribed to the expansion and adoption of the market, the increasing availability of content, technological innovations in panel production, sustained demand for higher quality, and progress in compression technology. Prominent trends expected in the forecast period encompass advancements in display technology, the expansion of 8K content creation, the integration of 8K displays in various devices, improvements in user interface and interaction, and enhancements in High Dynamic Range (HDR) and color technology.

Anticipated growth in the demand for consumer electronics is poised to drive the expansion of the 8K technology market in the foreseeable future. Consumer electronics encompass electronic devices designed for purchase and regular use by consumers, both personally and professionally. The incorporation of 8K technology enhances the visual experience on consumer electronic devices. For example, based on data from the Japan Electronics and Information Technology Industries Association in May 2023, Japan's total electronic equipment production reached 771,457 units, with consumer electronics production escalating to 32,099 units, marking a notable increase from 25,268 units in May 2022. Consequently, the surging demand for consumer electronics remains a key driver behind the growth of the 8K technology market.

The burgeoning expansion of the gaming industry is anticipated to propel the advancement of the 8K technology market moving forward. The gaming industry encompasses various business activities related to the creation, development, distribution, and monetization of video games. Within this sector, 8K technology plays a pivotal role in elevating the visual experience by delivering remarkably high-resolution graphics, resulting in sharper and intricately detailed images within video games. This technology empowers gamers to immerse themselves in more realistic visuals, especially on larger displays, thereby enhancing the overall gaming experience. For instance, as reported by NewZoo BV in October 2022, the audience for live-streamed gaming approached nearly 810 million in 2021 and is projected to exceed 1.41 billion by 2025. Consequently, the expanding reach of the gaming industry stands as a driving force behind the growth of the 8K technology market.

Technological advancements stand out as a prominent trend gaining momentum within the 8K technology market. Leading firms engaged in this sector are actively developing innovative technologies to fortify their market positions. A significant milestone occurred in November 2021 when MediaTek, a Taiwan-based semiconductor company, in collaboration with TSMC, another Taiwanese semiconductor company, introduced the MediaTek Pentonic 2000. This marked the debut of the first flagship 7-nanometer 8K digital TV system-on-chip (SoC). The MediaTek Pentonic 2000 is distinguished by its unparalleled performance and power efficiency, leveraging sophisticated artificial intelligence (AI) engines, versatile video coding (VVC) decoding, motion estimation and motion compensation (MEMC), and picture-in-picture (PiP) technology. Engineered with an ultra-wide memory bus, ultra-fast UFS 3.1 storage, and compatibility with high-speed wireless connectivity for MediaTek Wi-Fi 6E or 5G cellular modems, it exemplifies cutting-edge technology integration.

Prominent players in the 8K technology market are actively innovating new products, notably the 8K QLED Television, to establish a competitive edge in the market. QLED, standing for Quantum Dot Light Emitting Diode, represents a display technology utilizing quantum dots to enhance light emission's color accuracy and brightness in modern televisions. A notable launch occurred in November 2023 when Samsung Electronics Co. Ltd., a South Korea-based consumer electronics giant, unveiled the Samsung 98 NEO QLED 8K TV. This product, designed for exceptional home entertainment experiences, boasts Quantum Matrix Technology Pro with Mini LEDs, ensuring stunning 8K precision. Equipped with the Neural Quantum Processor 8K capable of upscaling any content, the TV also features Dolby Atmos with Cinema Object Tracking Sound Pro, offering immersive audio. Its ultra-slim 360-degree metal profile, complemented by an Infinity One design, creates a cinematic feel within the living room. Additionally, it incorporates a 120Hz refresh rate, HDR10+ support, Game Mode, Multi-View capabilities, and an Infinity One Design, positioning it as a premier choice for a home cinema experience.

In September 2022, IMAX Corporation, a Canada-based entertainment technology company, completed the acquisition of SSIMWAVE Inc. for an undisclosed amount. This strategic move by IMAX is geared towards providing the utmost quality in video imagery and broadening its portfolio with cutting-edge entertainment technology, specifically targeting higher resolutions such as 4K, 8K, and new interactive experiences across gaming, Virtual Reality (VR), Augmented Reality (AR), and the metaverse. SSIMWAVE, the acquired company, is based in Canada and specializes in streaming technology, particularly in the realm of 8K video streaming.

Major companies operating in the 8k technology market report are Samsung Electronics Co. Ltd., Dell Technologies Inc., Sony Corporation, Panasonic Corporation, LG Electronics Inc., Canon Inc., BOE Japan Co. Ltd., Fujifilm Corporation, Sharp Corporation com LLC., MediaTek Inc., AU Optronic, AUO Corporation, Innolux Corp., ROHM Co. Ltd., Novatek Microelectronics Corp., JVCKenwood Corporation, Vizio Inc., Leyard Optoelectronic, Hisense Co. Ltd., EIZO Corporation, ViewSonic Corporation, IMAX Corporation, Kinovis Inc., Red Digital Cinema, Macroblock Inc., Digital Projection Ltd., MainConcept GmbH, TP Vision, Joled Inc., Spin Digital Video Technologies GmbH.

North America was the largest region in the 8k technology market in 2023. Asia Pacific is expected to be the fastest-growing region in the 8k technology market report during the forecast period. The regions covered in the 8k technology market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the 8k technology market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The primary product types associated with 8K technology include 8K televisions, 8K cameras, 8K monitors/laptops, 8K projectors, and other related devices. An 8K television, for instance, boasts a screen with 7,680 horizontal pixels and 4,320 vertical pixels, totaling around 33 million pixels. Notable resolutions include 7680 x 4320, 8192 x 8192, 8192 x 5120, and 8192 x 4320. These products find application across various end-user segments, encompassing consumers, sports and entertainment, healthcare, and other industries.

The 8k technology market research report is one of a series of new reports that provides 8k technology market statistics, including 8k technology industry global market size, regional shares, competitors with an 8k technology market share, detailed 8k technology market segments, market trends and opportunities, and any further data you may need to thrive in the 8k technology industry. This 8k technology market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The 8K technology market consists of revenues earned by entities by providing services such as content creation, streaming services, videography, and broadcasting services. The market value includes the value of related goods sold by the service provider or included within the service offering. The 8K technology market also includes sales of 8K professional camera, 8K monitor and notebook, and full dome. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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