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8K Technology Market size worth $ 62,491.09 Million, – GlobeNewswire –

Jersey City, New Jersey, Nov. 25, 2021 (GLOBE NEWSWIRE) — Verified Market Research recently published a report, “8K Technology Market” By Product (TV, Monitor And Notebook, Professional Camera, Projector, And Others), By End-User (Sports & Entertainment Industry, Medical Industry, Consumers, and Others), and By Geography. According to Verified Market Research, the Global 8K Technology Market size was valued at USD 2,758.32 Million in 2019 and is projected to reach USD 62,491.09 Million by 2027, growing at a CAGR of 52.39% from 2020 to 2027.

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202 – Pages

126 – Tables

37 – Figures

Global 8K Technology Market Overview

The increasing penetration of electronic consumer products such as large-sized TVs, wearable devices, smartphones, and others led to imposing a positive impact to accelerate market growth. Moreover, the increasing preference of an 8K UHD display over the conventional image technique is the other factor propelling the market growth. However, the high initial investment associated with it and limited content availability of 8K hinders the market growth.

The growth witnessed in the construction industry due to an increased number of infrastructure transformation projects across various economies owing to urbanization has placed a huge demand for consumer electronics, thereby driving the 8K technology market positively. The growth of consumer electronics has been propelled by the expanding middle class, changing lifestyle preferences, and the inclination to use smart electronic devices. In addition, the rising disposable income of consumers will propel the demand for electronic devices, further driving the growth of the 8K technology market over the forecast period. However, the high cost of 8k technology-based products and limited 8k content availability are major factors anticipated to hinder the growth of the market. Moreover, strong demand for 8k technology from several developing countries in the APAC region is likely to provide lucrative opportunities for the market to grow over the period of time.

Key Developments

  • Samsung Electronics Co., Ltd. announced that its new and expanded line of 2020 QLED 4K and 8K TV models and are available on its website for sale.
  • LG Electronics and premium Italian designer furniture and lifestyle brand Molteni & C S.P.A are collaborating on a variety of joint projects.
  • JVCKENWOOD Corporation improves its Native 4K and 8K e-shift projectors with a major performance upgrade that automatically fine-tunes HDR based on the specific home theatre environment.

Key Players

The major players in the market are Sharp Corporation, LG Electronics, Sony Corporation, Samsung Electronics, JVC Kenwood Corporation, Dell Technologies Inc., and Others.

Verified Market Research has segmented the Global 8K Technology Market On the basis of End-User, Product, and Geography.