A Wireless Display refers to the display sharing technology which allows any form of display that can be accessed wirelessly to flat panes LED, LCD, video wall, and projector. This type of display is widely becoming prominent across consumers. It permits users to transmit content from one computer to another without being connected to other devices via data cable.
Covid-19 Influence & Market Status
Wuhan originated fatal virus COVID-19 influenced world economies adversely. A large number of populations lost livelihood over the global pandemic. The covid-19 epidemic restricted the growth and dynamics of various industries, reduced demand & expenditure, disrupted supply chain, etc. this abrupt drop in the global markets is going to hinder the development of the wireless display market. The overall market has been brought to its keens by covid-19. The slowed-down productions by OEMs and dip in demand for electronic devices pulled the market of the wireless display down. The shortfall of components and materials negatively affected the global supply chain. Moreover, the global economy incurred a tonne of loss due to a decrease in capital budgets and delayed planned projects. However, vaccination drive across the world against coronavirus is bringing the economies back on track and thus, is likely to boost the recovery of the global market of wireless display.
Prevalence of Google Cast Technology in the market
As customers prefer devices that are budget-friendly and effortlessly accessible, the google cast technology segment holds a significant stake in the market and is anticipated to extend at a steady pace. Google cast brings compatibility between low-cost devices and distinct resolution systems. on the other hand, the AirPlay segment also holds a significant market stake and is anticipated to boost in the meantime owing to its device-to-device streaming applications support. Apart from this, the surge in the use of Airplay in gaming applications is expected to bring opportunities to the market.
The Residential Sector holds the largest stake in the Global Market
It is due to the spike in disposable income and rising technological vigilance among the mass customer base, the residential segment gained the tag of one of the largest stakeholders and is expected to widen at a rapid pace. Furthermore, urging requirements for enhanced user experience and on-demand entertainment are propelling the growth of the segment. On the other hand, the commercial segment is likely to expand steadily due to the increasing need for interactive workforce management and effective communication platforms. usage of wireless displays among individuals fuels the growth of the residential segment of the wireless display market.
Asia-Pacific region to dominate the market by 2028
North America holds a greater share of the global market and is anticipated to expand exponentially due to substantial usage of the Internet in the region and a high focus on innovation. moreover, rising digital signage and increasing technological augmentations are boosting the growth of the market in the region. However, the market in the Asia Pacific is anticipated to grow at a fast pace owing to the trend of over-the-top (OTT) content consumption. Rising vigilance regarding technology among the large population base and increasing industrialization and urbanization in developed nations are major factors fostering the market growth in the region. Growing demand for Google Cast due to the preference for low-cost and easily available devices drives the market growth. The Asia Pacific to lead the global wireless display market due to increasing urbanization in the region.
The Global Market of Wireless Display is anticipated to be valued at USD 9.71 billion by the year 2028 with a growing CAGR of 11.00%, while it is valued at USD 3.64 billion in 2020.
A wireless display is of various kinds such as flat panel LED, LCD, video wall, projector, etc., which can easily be accessed wirelessly from a separate device like a laptop, tablet, or smartphone. There are several wireless display solutions are available in the market which performs over standard IP addresses like Wi-Fi networks The wireless displays allow users to share a connection from one device to another without connecting it to the display by an external device such as a cable.
The size of the global wireless display market is predicted to hit its peak during the forecast period. components such as hiking demand for wireless displays, the trend of smart TVs, smartphones, tablets, and computers and the boom in OTT platforms are driving factors for the demand for wireless displays. Enhanced wireless technology is emerging as a prevalent one as it allows various kinds of displays to be accessed wirelessly. The wireless display technology also helps in performing advanced functions like online streaming of content from external sources. The wireless display adaptor allows users to showcase the screen of smart devices. Rapid use of portable electronic devices like smartphones, desktops & laptops, smart TV sets, tablets, etc., has led to the deployment of enhanced technology like wireless displays.
The major setback for the global market of wireless display market has been high manufacturing costs. Various governmental initiatives and strategies in developing countries are likely to bring new avenues for the global wireless display market.
The prominent components which drive the growth of the wireless display market are vouge of smart TVs, computers, and other electronic devices, the emergence of over-the-top (OTT) platforms amid covid-19, the surge in demand for wireless display technologies (WDT), etc. however, high manufacturing costs for building wireless displays are holding the industry back. on the other hand, in developing countries, the government is coming forward with multiple plans and strategies which is bringing abundant opportunities for the wireless display market. Therefore, the market is predicted to witness a significant boom in the industry in the coming years.
The introduction of new display technologies, the vogue of on-demand entertainment, instant connection without any cables, and many other factors are compelling companies from this industry to provide an advanced and innovative characteristic to their consumers.
The Asia-pacific region is the prime supplier of raw materials for manufacturing consumer devices across the world. Moreover, Asia-pacific has witnessed a tremendous demand for devices like smartphones, desktops & laptops, smart TV sets, tablets, etc. Companies operating in the market have a robust supply chain network owing to the high penetration of local players in this market. The major participant of the global wireless display market is brainstorming to make a breakthrough in the industry to remain competitive in the market. Launch of new products, amalgamation, collaboration and partnership, and other strategies adopted by the market players are likely to take the market to its peak in upcoming years.
Competitive analysis and profiles of the major wireless display market players, such as Amazon.com, Inc. (U.S.), Apple Inc. (U.S.), Google LLC (U.S.), Intel Corporation (U.S.), Microsoft Corporation (U.S.), Marvell Semiconductor Group Ltd. (U.S.), Roku, Inc. (U.S.), Lattice Semiconductor (U.S.), MediaTek Inc. (U.S.), and NETGEAR, Inc. (U.S.), are focusing their investment on technologically advanced, cost-effective, and more secure products and solutions for various applications. These key players have adopted strategies, such as product portfolio expansion, mergers & acquisitions, agreements, regional expansion, and collaboration, to enhance their market penetration.
Latest Innovations & developments in the Global Wireless Display Market: A Snapshot
- Wireless displays are rapidly being deployed in the commercial sector and it is leading to the growth of the wireless display market across the globe.
- Surge in the utilization of wireless display technologies in Gen-Z applications or devices like augmented reality & virtual reality (AR &VR) and fundamental hike in the disposable income is opening new avenues for the global market of wireless display.
- Higher manufacturing costs of wireless displays and shortage of standardized infrastructure in Latin America and Africa are becoming obstructive factors in the market’s scalability and leading to connectivity issues.
Wireless Display Market Scope
|Forecast Unit||Value (USD)|
|Revenue forecast in 2028||USD 9.71 billion|
|Growth Rate||CAGR of 11.00 % during 2021-2028|
|Segment Covered||Offering, Application, Technology Protocol, Regions|
|Regions Covered||North America, Europe, Asia Pacific, Middle East and Africa, South America|
|Key Players Profiled||Amazon.com, Inc. (U.S.), Apple Inc. (U.S.), Google LLC (U.S.), Intel Corporation (U.S.), Microsoft Corporation (U.S.), Marvell Semiconductor Group Ltd. (U.S.), Roku, Inc. (U.S.), Lattice Semiconductor (U.S.), MediaTek Inc. (U.S.), and NETGEAR, Inc. (U.S.)|
Key Segments of The Global Wireless Display Market
- Brand Product Integrated
- Software & Services
By Technology Protocol
- Google Cast
- Corporate & Broadcast
- Digital Signage
- North America
- The U.S.
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- Latin America
- Middle East