High potential for digital photography, the surge in penetration of smartphones, and ongoing demand for large screen displays with high resolutions have boosted the growth of the global high dynamic range market.
However, the rise in the need for considerably higher bandwidth for broadcasting high dynamic range content hinders the market growth. On the contrary, the advent of new high dynamic range-compatible devices and a surge in on-demand content delivery services are expected to unlock new opportunities for the market players in the future.
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By application, the entertainment segment held the lion’s share in 2020, contributing to nearly half of the global high dynamic range industry.
However, the video streaming segment is estimated to manifest the highest CAGR of 27.1% from 2021 to 2030, due to the rise in demand for high dynamic range video streaming as it offers higher contrast and precise & detailed shadows with more clarity.
By type, the HDR 10+ segment held the largest share in 2020, accounting for more than one-third of the global high dynamic range market, as it uses dynamic metadata rather than static, making the picture look more realistic.
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However, the Dolby vision segment is expected to register the highest CAGR of 28.2% during the forecast period, as it offers several advantages over HDR formats.
By region, the market across North America dominated in 2020, holding around two-fifths of the market, due to the strong presence of successful camera brands and manufacturers in the region.
However, the global high dynamic range market across Asia-Pacific is projected to portray the highest CAGR of 28.1% during the forecast period, owing to a surge in demand from the gaming, media, and entertainment industries.
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Covid-19 scenario:
- During the Covid-19 pandemic, the demand for video streaming and entertainment increased during the lockdown, boosting the demand for high dynamic range solutions.
- However, the pandemic negatively affected the market due to a disrupted supply chain and drop in the production of displays. Moreover, the shortage of logistics support, quarantine procedures, and shortage of labor hampered the market.
Major market players such as – Apple, Inc., Canon, Nikon Corporation, Samsung Electronics Co., Ltd., LG Display Co., Ltd., Omnivision Technologies, Olympus Corp., Sony Corporation, Fujifilm Holding Corporation, and Casio Computer Co., Ltd.
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