Wireless Display Market Size was valued at USD 4.5 billion in 2022. The Wireless Display market industry is projected to grow from USD5.004 Billion in 2023 to USD 11.69918474 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 11.20% during the forecast period (2023 - 2032). Increasing usage of smart devices, smartphones, tablets, computers, and the Rising adoption of Miracast technology in entertainment, businesses, and education purposes are the key market drivers enhancing the market growth.
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Increasing adoption of wireless display technologies in residential applications for streaming online content or mirroring content from external sources is projected to stoke the growth of the market. Availability of multiple wireless display options at low costs, rising disposable income, and growing preference to adopt evolving technologies in consumer electronics are further poised to bode well for the market CAGR over the forecast period.
Moreover, government initiatives and strategies in various countries, including the U.K., China, and India, aim to improve the adoption rate of digital multimedia devices. For instance, the Government of India recently launched the Smart Cities Mission that promotes the use of digital multimedia devices. These include LED unipolar, variable messaging signboards, and interactive wayfinding devices, which have increased the demand for wireless display solutions in public-private projects nationwide.
Additionally, The increasing advancements in display technologies, easy setup and connection, the rise in usage of smart TVs, smartphones, tablets, and computers, and the growing adoption of on-demand entertainment is the reason for the growing demand for the Wireless Display Market. Wireless technologies can perform advanced functions like streaming online content from external sources. Thus, the adoption trend of wireless display technologies is rapidly increasing in residential applications. The increase in visual advertising and promotional strategies in commercial projects has elevated the use of different wireless display technologies. These factors drive the growth of the wireless display market revenue and the overall market.
Based on offering, the Wireless Display Market segmentation includes hardware, software, and services. The hardware segment holds this market in terms of market revenue. Increased availability of several devices like adapters, dongles, and other streaming devices at a cheaper price has been the major contributor to the growth of the hardware segment. The software & services segment is estimated to register the highest CAGR of 12.3% during the forecast period. This growth can be attributed to continuous software suite innovations catering to dynamic business environments.
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Based on technology protocol, the Wireless Display Market segmentation includes wireless HD, WiDi, Miracast, AirPlay, Google Cast, and DLNA. The google cast segment is poised to register the highest CAGR of approximately 12.0% over the forecast period. Consumers prefer low-cost devices that are easily available as they are suitable for diverse applications, such as personal, business, and gaming. Google Cast provides better compatibility between low-cost consumer electronic devices and various resolution systems, including low, HD, and Ultra-HD systems. These benefits will likely support the segment's growth over the coming years.In 2020, Airplay held a substantial share of the global market. It is expected to witness a CAGR of 11.0% during the same period. Airplay is estimated to gain more popularity in gaming applications that require multiple screens and high-end graphics over the coming years. Airplay operates on iOS, which provides an attractive user interface with easy-to-understand control functions. While Google Cast supports cloud streaming applications, Airplay supports device-to-device streaming applications that involve hardware control devices.
Based on application, the Wireless Display Market segmentation includes consumer, commercial. The consumer segment covered almost half of the total market revenue. The cost-effective streaming devices accessible with wireless technologies provide enriching user experience, on-choice entertainment, and multiple platforms. These factors are anticipated to propel the demand furthermore during the forecast period.
January 2021: Apple released its new flagship, iPhone 13. A fingerprint scanner will be included in the upcoming model. The function will be a game-changer for the corporation, as it has never been seen before on any Apple product.
July 2021: Lenovo Corporation, a consumer electronics corporation located in China, debuted 2-in-1 laptops with detachable keyboards for the Indian market.
By Region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. The North American wireless display market area will dominate this market, Due to urbanization and growing awareness of technology across the residential and commercial segments will boost the market growth in this Region.
Further, the major countries studied in the market report are The U.S., Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Europe's wireless display market accounts for the second-largest market share due to theincreasing usage of smart devices, smartphones, tablets computers. Further, the German wireless display market held the largest market share, and the UK wireless display market was the fastest-growing market in the European Region.
The Asia-Pacific wireless display market is expected to grow at the fastest CAGR from 2023 to 2032. This is because the growth can be ascribed to increasing urbanization and growing awareness of technology across various industries in the Region. Moreover, China’s wireless Display market held the largest market share, and the Indian wireless display market was the fastest-growing market in the Asia-Pacific region.
Leading market players are investing heavily in research and development in order to expand their product lines, which will help the wireless display market grow even more. Market participants are also undertaking various strategic activities to expand their global footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, the wireless display industry must offer cost-effective items.
Manufacturing locally to minimize operational costs is one of the key business tactics manufacturers use in the global wireless display industry to benefit clients and increase the market sector. In recent years, the wireless display industry has offered some of the most significant advantages to the IT industry. Major players in the wireless display market, including General Apple Inc., Google LLC, Intel Corporation, Marvell Semiconductor Group Ltd., MediaTek Inc., Roku Inc., and others, are attempting to increase market demand by investing in research and development operations.
Apple Inc. is an American multinational technology company headquartered in Cupertino, California. Apple is the world's largest technology company by revenue, with US$394.3 billion in 2022 revenue. As of March 2023, Apple is the world's biggest company by market capitalization. Apple released its new flagship, iPhone 13. A fingerprint scanner will be included in the upcoming model. The function will be a game-changer for the corporation, as it has never been seen before on any Apple product.
Lenovo (HKSE: 992) (ADR: LNVGY) is a US$70 billion global revenue technology powerhouse, ranked 171 in the Fortune Global 500, employing 75,000 people worldwide, and serving millions of customers every day in 180 markets. Focused on a bold vision to deliver smarter technology for all, Lenovo has built on its success as the world’s largest PC company by further expanding into key growth areas, including server, storage, mobile, and services. Lenovo Corporation, a consumer Electronics Corporation in China, debuted 2-in-1 laptops with detachable keyboards for the Indian market.
Apple Inc.
Google LLC
Intel Corporation
Marvell Semiconductor Group Ltd.
Roku Inc
June 2020: Google Inc. released the Pixel 4A, a premium mid-range device with an improved function of wireless charging that was not available in the 3A range.
September 2020: LG Corporation, a consumer electronics manufacturer in South Korea, announced a new smartphone-tablet hybrid with a slide-out display.
Hardware
Software
Services
Wireless HD
WiDi
Miracast
AirPlay
Google Cast
DLNA
North America
Europe
Asia-Pacific
China
Japan
India
Australia
South Korea
Australia
Rest of Asia-Pacific
Rest of the World
Middle East
Africa
Latin America
| Report Attribute/Metric | Details |
| Market Size 2022 | USD 4.5 billion |
| Market Size 2023 | USD 5.004 billion |
| Market Size 2032 | USD 11.699 billion |
| Compound Annual Growth Rate (CAGR) | 11.20% (2023-2032) |
| Base Year | 2022 |
| Market Forecast Period | 2023-2032 |
| Historical Data | 2019- 2021 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Type, Distribution Channel, and Region |
| Geographies Covered | North America, Europe, AsiaPacific, and the Rest of the World |
| Countries Covered | The U.S., Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | 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 their growth, especially, the Live interviews which is considered to boost interaction and expand the exposure |
| Key Market Dynamics | The increasing usage of smart devices, smartphones, tablets computers. |
Wireless Display Market Highlights:
Frequently Asked Questions (FAQ) :
The Wireless Display Market size was valued at USD 4.5 Billion in 2022.
The global market is projected to grow at a CAGR of 11.20% during the forecast period, 2023-2032.
North America had the largest share of the global market
The key players in the market are Apple Inc., Google LLC, Intel Corporation, Marvell Semiconductor Group Ltd., MediaTek Inc., and Roku Inc.
The hardware wireless display category dominated the market in 2022.
The consumer had the largest share of the global market.
Team Lead - Research she holds an experience of about 6+ years in market research and business consulting, working under the spectrum of information communication technology, telecommunications and semiconductor domains. aarti conceptualizes and implements a scalable business strategy and provides strategic leadership to the clients. her expertise lies in market estimation, competitive intelligence, pipeline analysis, customer assessment, etc.
Get in Touch
© 2024 Market Research Future ® (Part of WantStats Reasearch And Media Pvt. Ltd.)
