Market Size of 8K Industry
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 10.46 Billion |
| Market Size (2029) | USD 43.43 Billion |
| CAGR (2024 - 2029) | 32.93 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Europe |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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8K Technology Market Analysis
The 8K Market size is estimated at USD 10.46 billion in 2024, and is expected to reach USD 43.43 billion by 2029, growing at a CAGR of 32.93% during the forecast period (2024-2029).
- The 8K market is witnessing growth in adoption across various fields as it allows for true-to-life reproduction of real scenes, signficantly recreating the effective resolution of the human eye. It also curtails the gap between real and virtual worlds. The market is undergoing robust growth, due to the growing need for 8K-based cameras, mainly from filmmakers, owing to their ability to catch better images. Further, NHK, a Japanese broadcasting company, announced plans to launch 8K SHV channels to deliver 8K media on a considerable scale.
- Moreover, the growth in smart TV use throughout the world drives the market growth. According to Ofcom, televisions that can operate apps and access the internet can be seen in many households in the United Kingdom (UK). In the last year, 67% of homes in the United Kingdom owned a Smart TV. Televisions are noticing the increased adoption of the 8K technology. Due to this, companies are rapidly launching new 8K-based televisions.
- The rising need for premium products with high-resolution displays in developing countries in various end use sectors such as rising use of high resolution devices by sports and medical industries in order to provide high quality images with the clearer picture are further rampantly driving the demand for market studied as 8K displays are well-equipped to deliver lower-resolution content by automatically upscaling the video to fill the extra pixels.
- However, the expensive cost of 8k technology-based products & little 8k content accessibility is major challenges predicted to hinder market expansion.
- On the contrary, the surge in streaming and console gaming use during COVID-19 fueled the need for large-screen high-definition TVs. As a result, global television makers are introducing premium OLED TV models. For instance, in February 2022, Magnachip announced a DDIC product for UHD TVs based on upgraded high-voltage analog process technology & started mass production.
