High Dynamic Range (HDR) Capture Device Market - Forecasts from 2020 to 2025

The high dynamic range (HDR) capture device market is projected to grow at a CAGR of 3.13% to reach US$253.788 billion by 2025 from US$210.941 billion in 2019

High dynamic range (HDR) capture devices add more “dynamic range” to the photos clicked by the device. The dynamic range implies the ratio of light to dark in a picture. The demand for HDR capture devices is also because of exponential growth in the usage of social media sites and applications. According to Eurostat, 50% of people aged 16-74 participated in social networks in the year 2018 a substantial rise from an estimated 38% in the year 2011. Among the European Member States, social media participation was highest in Denmark at 79%, followed by Belgium at 73%. In the United Kingdom, the usage rate was around 70%.

According to the World Bank, the number of users of social media websites such as Facebook, YouTube, Instagram, Whatsapp, and Snapchat is on a rising spree. For instance, the number of YouTube users in the year 2008 was 294.49 million. This rose exponentially over the ten year period starting from 2008 and touched 2,260 million in 2018. The same rising trend can be seen across all the social media platforms. This raises the demand for HDR Capture devices by social media users to share high quality and more vivid pictures over these platforms.

A major reason for the growing HDR market is the increasing penetration of mobile phones and internet, especially in developing countries

With the ease in access and availability of mobile phones in conjunction with the internet across all parts of the world, the individuals are becoming more aware of the latest developments happening in the digital devices, especially cameras. According to the World Bank, the percentage of people using the internet is on a constant rise since its advent. For instance, internet penetration was around 22.60% in the year 2008 and it rose to around 50% by the year 2017. Cheaper tariffs and the availability of huge amounts of content available online are fuelling this trend. This trend is expected to be followed in the forecast period and escalate the sales of HDR capture devices by making them more popular among the people.

The increasing number of social gatherings and meetings is projected to have a positive impact on the market growth of the high dynamic range (HDR) capture devices

The number of formal and informal gatherings are increasing with rising urbanization and disposable incomes. The social interaction has majorly become a matter of photographs for the millennial. People have become more involved in the capturing of live moments to share them, and to store them as memorable moments for revisiting them later. This is anticipated to raise the sales of this market.

The increasing reliance on movies and videos for entertainment purposes is also anticipated to fuel the sales of HDR capture devices

The rate of release of movies is constantly increasing with the rising demand for entertainment means. Online streaming apps like Amazon Prime, Netflix, and Hotstar are gaining popularity among people of all ages. The video quality is an important aspect for these sites to increase the viewership of the movies or series. Apart from this, sports and other gaming shows involve the employment of HDR capture devices to develop a wider and accurate viewing experience.

Technological advancements in the development of sophisticated High dynamic range (HDR) capture devices are expanding the scope of this market

Technological advancements happening in the cameras and other capturing devices are making this market dynamic, triggering the need for people to switch to more sophisticated devices available in the market to remain competitive in their respective domains.

However, the high cost of such devices due to excessive research and development by players in the market is a restraining factor in this market

In an attempt to invent state-of-the-art capture devices, major players in the market are spending a huge amount of resources in the research and development department. Also, due to the high-end segment that this market aims to capture, the price of these devices is kept high and this is expected to be a restraining factor for this market.

Also, improper or inadequate technical-know how with regards to the nuances of using HDR is also expected to hamper the growth of this market. Though the literacy rates are rising with the urbanization trends, digital literacy and technical know-how are still major roadblocks in the spread and usage of such digital devices. Also, less awareness about the availability of these products is also projected to oppose the growth of this market.

Geographically, the Asia Pacific region is expected to witness a high CAGR in the High dynamic range (HDR) capture devices market due to the changing lifestyles of the people.

Rising incomes are increasing the consumer base for the entertainment industry in developing countries like India and China. Improving lifestyles of people with respect to better photo and video capture is expected to expand the sales HDR capture devices in this region. The American region is expected to hold a significant share of the High dynamic range (HDR) capture devices market owing to the presence of a large number of players of this market and also due to high awareness or knowledge of such technical devices. The growing tourism in the American region is also expected to positively influence the market.

Segmentation:

By Product

• Smartphone
• Camera

By Application

• Photo and Videography
• Security and Surveillance

By Geography

North America

• USA
• Canada
• Mexico

South America

• Brazil
• Argentina
• Others

Europe

• UK
• Germany
• France
• Spain
• Others
• The Middle East and Africa
• Saudi Arabia
• Israel
• Others

Asia Pacific

• Japan
• China
• India
• Others