The 8K Technology Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s 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 in the historic period can be attributed to consumer demand for higher resolution, content creation and production, innovation in broadcasting, gaming industry growth, improved 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 growth in the forecast period can be attributed to market expansion and adoption, content availability growth, technological innovations in panel production, continued demand for higher quality, advancements in compression technology. Major trends in the forecast period include advancements in display technology, 8k content creation expansion, 8k displays in various devices, enhanced user interface and interaction, hdr and color enhancements.
Rising demand for consumer electronics is expected to propel the growth of the 8K technology market going forward. Consumer electronics are electronic equipment intended for purchase and use by consumers daily and professionally. 8K technology provides an improved visual experience on consumer electronic devices. For instance, in May 2023, according to the Japan Electronics and Information Technology Industries Association, a Japan-based trade association, the total electronic equipment production in Japan reached 771,457 units. In addition, consumer electronics production reached 32,099 units in May 2023, compared to 25,268 units in May 2022. Therefore, the rising demand for consumer electronics is driving the growth of the 8K technology market.
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The 8k technology market covered in this report is segmented –
1)By Product: 8K Television, 8K Camera, 8K Monitors Or Laptops, 8K Projectors, Other Products
2) By Resolution: 7680 x 4320, 8192 x 8192, 8192 x 5120, 8192 x 4320
3) By End-User: Consumer, Sports And Entertainment, Healthcare, Other End-User
Technological advancements are a key trend gaining popularity in the 8K technology market. Major companies operating in the 8K technology market are developing innovative technologies to strengthen their position in the market. For instance, in November 2021, MediaTek, a Taiwan-based semiconductor company, and TSMC, a Taiwan-based semiconductor company, launched the MediaTek Pentonic 2000, the first flagship 7-nanometer 8K digital TV system-on-chip (SoC). The unique features of the MediaTek Pentonic 2000 involve its unparalleled performance and power efficiency by utilizing features such as sophisticated artificial intelligence (AI) engines, versatile video coding (VVC) decoding, motion estimation and motion compensation (MEMC), and picture-in-picture (PiP) technology. It is designed with an ultra-wide memory bus, ultra-fast UFS 3.1 storage, and compatibility with the fastest wireless connectivity for MediaTek Wi-Fi 6E or even 5G cellular modems.
The 8k technology market report table of contents includes:
1. Executive Summary
2. 8K Technology Market Characteristics
3. 8K Technology Market Trends And Strategies
4. 8K Technology Market – Macro Economic Scenario
5. Global 8K Technology Market Size and Growth
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26. South America 8K Technology Market
27. Brazil 8K Technology Market
28. Middle East 8K Technology Market
29. Africa 8K Technology Market
30. 8K Technology Market Competitive Landscape And Company Profiles
Top Major Players:
- Samsung Electronics Co. Ltd
- Dell Technologies Inc
- Sony Corporation
- Panasonic Corporation
- LG Electronics Inc
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