Many RAW images must be converted to a wide-gamut 16-bit color space to preserve their dynamic range and color gamut, e.g., 16-bit ProPhotoRGB. In particular, bright colors and dark tones can be blown or pinned in individual color channels, either by using 8 bits, or by using a narrow-gamut color space such as sRGB or AdobeRGB. Of course, there are plenty of images that fit easily into the sRGB color space, but a reliable workflow cannot assume this.
No Nikon or Canon or Olympus or Fuji or etc camera offers any wide-gamut color space setting in the camera (for histogram purposes), an absurd situation given the ultra-wide dynamic range and color gamut of modern DSLRs which easily exceeds the AdobeRGB color space.
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