This case study in the nascent frame averaging section of Making Sharp Images shows the benefits of frame averaging, comparing a single frame to 2, 4, 9, 12 frames in an extreme dynamic range situation in which a maximum shadow boost and other contrast control measures were needed.
For this image, I wished to preserve all the detail in the very bright sky and have reasonable detail in the very dark shadowed areas, at least in terms of dynamic range. I have never before been able to make an image of this kind with this high a quality in terms of dynamic range—the foreground was nearly black.
This study applies to any kind of digital camera of any brand. Includes images up to 60 megapixels, plus crops.