The global wireless display market was valued at USD 3.78 billion in 2020 and is projected to expand at a significant CAGR during the forecast period, 2021 – 2028. The growth of the market is attributed to the rising demand for various wireless display technology owing to the increasing preference for visual advertising as well as promotional strategies in commercial spaces.
Wireless display is a display technology widely used to stream movies, videos, or photos without the use of external wire. A wireless display allows users to display the content from their mobile device on their TV or projector screen.
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The arrival of streaming solutions such as software suites, adapters, and other streaming devices have transformed the meaning of communication, collaboration, and entertainment. Various wireless streaming devices are used by several organizations across the globe to ensure effective communication within an organization in relation to their stakeholders such as employees, customers, and investors. Using wireless display technology, a business organization can easily access to information of several units of organization by controlling a centralized data. Owing to these advantages, the technology is widely adopted as solutions for different organizational levels for managing engagement of workforce and training employee.
Market Trends, Drivers, Restraints, and Opportunities
- Growing adoption of wireless display technology for various residential applications including streaming online content and mirroring the content from external sources are expected to fuel the market.
- Increasing demand for the technology in a range of next generation applications including gaming, digital signage, and virtual reality is anticipated to boost the market expansion.
- Expanding penetration of smartphone devices, rising adoption of digital learning devices, as well as wide use of wireless streaming devices in commercial sector are key factors driving the market growth.
- Lack of wireless infrastructure, high manufacturing cost, and connectivity issues in developing regions such as Asia Pacific and the Middle East & Africa are key challenges that can hinder the market growth during the analysis period.
- Various ongoing R&D activities and huge investments by some market players to produce advanced display technology are presenting numerous opportunities for the expansion of market.
Global Wireless Display Market Segment Insights
Hardware segment is anticipated to constitute a high revenue share
Based on offerings, the market is bifurcated into hardware and software & services. The hardware segment is anticipated to constitute a high revenue share during the forecast period owing to the availability of different hardware devices including dongles, adapters, and other streaming devices at less price. On the other hand, the software & services segment is projected to register a high CAGR during the forecast period owing to constant developments in software suites which offer effective communicative service for different business environments.
Commercial segment is expected to register a high CAGR
On the basis of end-users, the global wireless display market is classified as residential and commercial. The commercial segment is expected to register a high CAGR in the coming years owing to the rising requirement for effective communication platforms, interactive workforce involvement, and the increasing adoption of wireless technologies in commercial spaces.
Google cast segment is projected to expand at a significant growth rate
Based on technology, the market is divided into AirPlay, Google cast, Miracast, and others. The Google cast segment is projected to exhibit a significant growth rate over the analysis years owing to the increasing adoption of low-cost devices by consumers for diverse applications including personal, business, and gaming. Google cast offers enhanced compatibility among cost-effective consumer electronic devices and different resolution systems such as low, HD, and Ultra-HD systems.
North America and Europe combined to constitute a high revenue share
In terms of regions, the global wireless display market is categorized into Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. The markets in North America and Europe in combined are anticipated to constitute a major revenue share during the forecast period owing to the increasing usage of consumer electronics such as smart TVs, laptops, smartphones, and others among a large number of population in these regions.
Compititive Landscape
Some key participants competing in the global wireless display market include Intel Corporation, Marvell Semiconductor Group Ltd., Roku, Inc., MediaTek Inc., Google LLC, and Apple Inc.
These leading market players are using strategies including mergers, acquisition, partnerships, new launches, collaborations, and product development to build their strong position in the market. For instance, in June 2020, ViewSonic Corp. introduced the CDE20 series of premium wireless presentation displays, which offered a series of high-impact digital features including 4K Ultra HD resolution. In February 2021, Apple Inc. introduced its first iPhones that offered compatibility service with 5G wireless speeds.
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COVID-19 Impact Analysis on Wireless Display Market report published by Value Market Research provides a detailed market analysis comprising market size, share, value, growth and trends for the period 2020-2027.
Moreover, this market report also covers regional and country markets in detail.The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide.
The major players in the wireless display market include Google INC. (ALPHABET INC.), Apple Inc., Microsoft Corporation, Roku, Inc., Squirrels, LLC., Splashtop Inc., Airtame Inc., Netgear Inc., Belkin International, Inc., Lattice Semiconductor Corporation, Actiontec Electronics, Inc.
This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.Get more information on "Global Wireless Display Market Research Report" by requesting FREE Sample Copy at https://www.valuemarketresearch.com/contact/wireless-display-market/download-sampleMarket DynamicsIncreasing preference for visual advertising and promotional strategies are the primitive boosters for the growth of the wireless display market.
Streaming solutions enable centralization of data access and control that are widely used for employee training, entertainment, communication, and collaboration, etc., and the increased adoption of this technology in the public-private sector for different projects is poised to stoke the growth of the wireless display market.
However, high manufacturing costs and technical complexities may create a hindrance to this market's growth.The research report covers Porter’s Five Forces Model, Market Attractiveness Analysis, and Value Chain analysis.
