The global 5K display resolution market is projected to expand at a moderate rate and reach a significant valuation by the end of 2023, claims Market Research Future (MRFR) in a minutely analyzed research report. Factors such as Increasing technological advancements and growth of the consumer electronics market will help the 5K display resolution market to achieve a moderate CAGR by the end of 2023.
5K display resolutions are slowing making their way into the hands of customers as they offer the advantages of astounding display performance, high pixel density, and life-like viewing experience. Electronic manufacturers are progressively using 5k displays to gain a competitive edge over other competitors and escalate the value and quality of their products which is driving the market growth. The use of 5K video cameras for digital photography is a key growth driver.
The 5K Display Resolution Market provides higher pixel density, and the images do not get distorted while editing. For instance, ever since Dell unveiled the first monitor with a 5k display resolution, many key players such as Apple and LG have deployed 5k resolutions in their electronic products to up their game. It has intensified the competition in the market which has resulted in market expansion. The upsurge in the release of media content in 5k resolution has also been a driver of the market.
Online streaming services such as Netflix launch videos in 4k resolution and are looking forward to launching content in 5k resolutions as well which will accelerate the demand for a 5k resolution in future. Moreover, growing usage of 5k resolutions in monitors, cameras, and televisions directly translates into growth for the 5K display resolution markets. However, deploying 5k displays can be expensive, and many electronics do not yet support 5K display resolution which might restrict the growth of the market.
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The global 5K display resolution market is highly competitive characterized by the presence of several well-established players. The notable players operating in the global 5K display resolution market include Dell Inc. (U.S.), LG Electronics Inc. (South Korea), HP (U.S.), Red Digital Cinema Camera Company (U.S.), Sony Corporation (Japan), Apple Inc. (U.S.), Philips (Netherlands), Samsung Electronics (South Korea), Sharp Corporation (Japan), and Canon Inc. (Japan) among others. The market participants are implementing various strategies such as product innovation, mergers and partnerships to sustain their position in the market.
The global 5K display resolution market has been segmented based on product, resolution, and application. By product, the market has been segmented into monitors, televisions, cameras, laptops, smartphones & tablets, and others.
By resolution, the market has been segmented into 5120 × 2160 Resolution, 5120 × 2700 Resolution, 5120 × 2880 Resolution, 5120 × 3200 Resolution, 5120 × 3840 Resolution, and 5120 × 4096 Resolution. By application, the market has been segmented into retail, consumer electronics, advertisements, education and others.
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The key regions covered in the global 5K display market include Asia Pacific, North America, Europe and Rest of the World. Asia Pacific accounts for the largest share of the market while North America is poised to be the fastest growing market for 5k display resolution.
Europe is the second largest market, and UK, Germany, and France are the key contributors to the Europe market. High adoption of latest technology, the presence of advanced infrastructure and technological progress is driving the growth of the Europe market. In North America, the market is driven by the well-established infrastructure, the presence of economically developed countries and high penetration of display devices in the region. The US and Canada are expected to contribute largely to the growth of the North America market.
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