The Wireless displays are intensively utilized to make use of the advanced technologies, where the wired devices restrict the mobility and the size of the audiences, such factors have led to the development of display devices that connects with wireless connectivity. Moreover, the advent of novel applications such as Miracast is considered as the used standard for wireless connections and efficiently connects to external devices via Wi-Fi to devices. The wireless display market is projected to touch the market value of over USD 9.71 Billion by the year 2030 while registering a CAGR of 11.20%.
Consumers highly prefer budget devices that are also compatible with several applications such as personal usage, business usage, gaming, and so on. Therefore the manufacturers are focusing on flexibility, additionally, the Google cast technology includes all these features and is compatible with the majority of devices. Therefore Google cast technology is expected to be witness tremendous growth with healthy CAGR during the forecast period. Moreover, wireless display technologies are increasingly getting adopted in the residential sectors owing to the acceptance of technological benefits and the rapid growth in digital marketing. In addition to that, the strategies carried out by the commercial projects are also impacting the overall growth of the Wireless Display Market.
The COVID 19 pandemic has significantly impacted several industries and manufacturing units negatively in recent years. Especially, the commercial sectors were not operating throughout the pandemic, which is considered as the major end-user industries of the Wireless Display industry. The operations such as visual marketing, customer engagement programs, and other supportive services were reduced which are generally reliant on the wireless display devices. Therefore the pandemic has significantly reduced the overall growth of the Wireless Display Market the pandemic. However, the ongoing digital transformation and the fact that a huge population is confined to their homes have increased the demand for wireless display devices for entertainment and job-related requirements. Such factors have helped the Wireless display market growth.
The capability of the wireless technologies to stream the online content from the external resources and the increasing momentum of the wireless displays in the residential sector due to the quality user experience is also creating a huge impact on the Wireless display market growth in recent years. On the other hand, the commercial sectors are utilizing wireless displays for promotional purposes, visual advertisements, and other crucial commercial activities, which are driving the overall growth of the Wireless Display Market.
The growing digitalization across the globe, which has led to the increasing usage of smart devices, smartphones, tablets, computers, and so on. Such factors are positively influencing the overall growth of the Wireless display industry. As customer preferences are changing with the changing technologies, the wireless display market demand has been increasing in recent years.
The business sectors were intensively using streaming to propel its growth, especially, the Live interviews which are considered to boost the interaction, and expands the exposure is the primary way where the business sector utilizes the wireless display technologies, other than Live interviews, Live product tutorials, Live product launches, Live behind the scenes were some of the major criteria were business sectors utilize the wireless display devices to increase the viewers and customer base which increases the overall Wireless display market demand.
The availability of internet services at higher speeds and affordability and the favorable government initiatives across the globe which includes, Digital India, U.K digital strategy, Made in China 2025 and many others help both the governmental sectors and public sectors in utilizing the wireless displays, thereby increases the overall growth of wireless display Market.
The advent of wireless display technologies has not eliminated the conventional modes of transferring the data which includes HDMI and USB cables as they are available at an affordable range and thereby negatively influencing the wireless display market growth.
The incompatibility issues regarding the android based and Apple iOS-based devices are also considered as the major restraint of wireless display market growth. On the other hand, the cheaper alternatives of wired solutions are also considered as the major restraint of wireless display market growth.
The limitation of connectivity, which allows only one display device at a time and the requirement of higher network connectivity, and other issues that might arise with the wireless devices are considered as the major challenges of the industry.
The wireless display devices that are used in business meetings often find the hindrances such as setting up the connection and the attendees to get connected consume a lot of time, which might also require support from the IT members. Such factors are considered as the major challenges for the overall growth of the market.
The Wireless Display market value is highly dependent on the demand for the wireless hardware elements which includes adapters, dongles, pen-drives, and others. These devices are available at affordable rates and therefore they are impacting the overall growth of the Wireless display industry. The wireless display market is expected to surpass the market value of over USD 9.71 Billion by the year 2030 while registering a CAGR of 11.20%. Also, the growing number of end-user industries under two primary sectors such as residential and commercial is increasing the Wireless display market share rapidly. Additionally, the increasing acceptance of consumer technologies and related appliances combined with the higher spending capabilities of the consumers are impacting the overall growth of the Wireless Display Market.
The Wireless display tools are increasingly utilized for mirroring and streaming multimedia content, which is presenting a lucrative opportunity for the overall growth of the wireless display industry. Additionally, the wide range of streaming devices such as modems, dongles, adapters is highly compatible with the wireless connectivity solutions such as Wi-Fi, Bluetooth, Wi-Max, and so on. The higher compatibility rates are impacting the overall growth of the Wireless Display industry. The commercial sector is intensively utilizing wireless display devices for advertising and other commercial purposes and thereby projecting itself as the major end-user of the Wireless Display market. The growing momentum of different display technologies such as CRT, LCD, OLED, and so on are also considered as the major driving factor of Wireless Display market growth.
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The Wireless Display market growth has been growing in American countries, especially, The United States was holding a market share of over 52% in the year 2018 and growing up ever since. On the other hand, North America was valued at 34% in the same year. Moreover, the government of North America supports the growth of the Wireless Display industry with the U.K digital strategy scheme, which includes the reliance of the government itself on the digital and the responsibility of the government to direct the public sector by imposing the regulations. Such governmental initiatives across the region are boosting the overall growth of the market.
On the other hand, the Asia-pacific region is expected to witness tremendous growth with a CAGR of 13% during the forecast period. The increasing utilization of streaming devices in commercial sectors such as retail, banking, governmental, healthcare, and media &entertainment sectors are fuelling the Wireless Display market growth across the Asia-pacific region.
In the year 2017, one of the leading market players, named Splashtop Inc., has announced its launch in the market, which is named Mirroring 360 pro with the screen sharing solutions and device screen mirroring which is specially designed for the education and businesses to share the documents to a large audience.
In the year 2019, one of the leading market players, Airtame Inc. has joined hands with Airserver and created an application that can be installed on any device which allows the user to cast the screen on any screen which is based on any device. The flexible platform with higher compatibility and flexibility has created a huge stir in the market.
This report has covered:
|Market Size||USD 9.71 Billion|
|Forecast Units||Value (USD Billion)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Offering, Technology Protocol, Application|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Apple Inc., Google LLC, Intel Corporation, Marvell Semiconductor Group Ltd., MediaTek Inc., Roku Inc|
|Key Market Opportunities||The business sectors were intensively using streaming to propel its growth, especially, the Live interviews which are considered to boost the interaction, and expands the exposure|
|Key Market Drivers||The increasing usage of smart devices smartphones tablets computers|
The global wireless display market is poised to record a market value of USD 9.71 Billion by 2030.
The global wireless display market is maturing at a whopping 11.20% CAGR over the review period of 2022 to 2030.
A few significant players of the global wireless display market are NETGEAR Inc. (U.S.), Actiontec Electronics, Inc. (U.S.), Cavium, Inc. (U.S.), and Belkin International, Inc. (U.S.).
The on-grid segment is expected to drive market growth over the review period.
The commercial segment is likely to witness the highest demand in the wireless display market.