Newark, NJ, Aug. 10, 2021 (GLOBE NEWSWIRE) -- As per the report published by Fior Markets, the global wireless display market is expected to grow from USD 3.57 billion in 2020 and to reach USD 8.65 billion by 2028, growing at a CAGR of 11.7% during the forecast period 2021-2028.
Wireless display technology can be defined as a process of connecting compatible devices through peer to peer media transmission to large display devices without using wires. Wireless Display technology is becoming prevalent as it enables any kind of displays such as LCD, panel LED, video wall, projector etc. accessible wirelessly. The wireless technology also helps to perform advanced functions like streaming online content from external sources. The wireless display adapter allows the users to showcase the screens of smart devices. The widespread usage of consumer products like smartphones, smart television sets, tablets, computers & laptops have increased the deployment of advanced technology such as wireless display. Introducing streaming solutions which includes software suites, adapters and other streaming devices has transformed the means of communication, entertainment & collaboration. The streaming device enables data control & access.
The global wireless display market is expected to witness significant growth, owing to easy setup & connection, increasing adoption of on demand entertainment, enhanced picture and sound quality, improved bandwidth management, increasing technological advancements, increasing penetration across emerging economies, easy content sharing between portable devices & screening and government initiatives. The increase in visual advertising & promotional strategies in commercial projects has evaluated the use of wireless display technologies. Increased use of web based interfaces, availability of multi- user, multi- screen deployment are all considered to favor the wireless display market. The factors restraining the wireless display market growth are availability of cheaper substitutes in wired connectivity devices such as USB & HDMI, issues associated with interoperability of technology protocols, lack of awareness about wireless display technology, elevated cost of manufacturing. Growing digital signage and dooh market will provide market growth opportunities.
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Key players operating in global wireless display market include Google Inc. (US), Airtame Inc. (Denmark), Amazon Inc. (US), Squirrels LLC (US), Apple Inc. (US), App Dynamic ehf (Iceland), Microsoft Corporation (US), Silicon Image Inc., Qualcomm, Roku Inc. (US), App Dynamic EHF, Splashtop Inc., Intel Corporation, Lattice Semiconductor (US), Marvell Semiconductor Group Ltd, NETGEAR Inc. (US), MediaTek Inc., Cavium Inc. (US), Alphabet Inc., Actiontec Electronics Inc. (US), Belkin International Inc. (US).
Hardware segment dominated the market and held the largest market share of 61.9% in the year 2020
On the basis of offering, the global wireless display market is segmented into hardware, software and services. The hardware segment dominated the market and held the largest market share of 61.9% in the year 2020. This growth is attributed to the increased availability of several devices like dongles, adapters and other streaming devices at cheaper price.
Google Cast segment dominated the market and held the largest market share of 37.18% in the year 2020
On the basis of technology protocol, the global wireless display market is segmented into Google Cast, Airplay, Miracast, WiDi, Wireless HD and DLNA. The Google Cast segment dominated the market and held the largest market share of 37.18% in the year 2020. Google cast is a proprietary protocol developed by Google for playing internet streamed video/audio content on a compatible device. This growth is attributed to its ability to combat with majority of devices, easy availability in market and user friendly property. It is also suitable for multitudinous applications for personal use, business use and gaming purpose.
Next to Google cast, Airplay holds the largest market share owing to its popularity in gaming apps that requires multiple screens and high end graphics. Airplay is a proprietary protocol developed by Apple Incorporation which enables wireless streaming between devices of video, audio, pictures and device screens with related metadata.
Commercial segment dominated the market and held the largest market share of 59.98% in the year 2020
On the basis of Application, the global wireless display market is segmented into consumer and commercial segments. Commercial segment dominated the market and held the largest market share of 59.98% in the year 2020. The commercial segment is further segmented into Government, Education, Corporate & Broadcast, Healthcare, Digital Signage and Others. This growth is attributed to increasing penetration of internet & smartphones, increasing awareness of technology, fastest adoption. Consumer segment accounted for a considerable growth rate owing to its cost effectiveness streaming devices accessible with wireless technologies that provides users with enriching experience, on choice demand and multiple platforms.
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Regional Segment of Wireless Display Market
- North America (U.S., Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
- Asia-Pacific (China, Japan India, Rest of APAC)
- South America (Brazil and Rest of South America)
- Middle East and Africa (UAE, South Africa, Rest of MEA)
On the basis of geography, the global wireless display market is classified into North America, Europe, Asia-Pacific, Middle East & Africa, and South America. North America region held the largest market share of 43.82% in the year 2020. This growth is ascertained by the U.S. in the North America region owing to the growing digital signage, technological advancements. The Asia-Pacific region is witnessing fastest growth rate owing to increasing disposal income, growing awareness of high-end technology across both the commercial and consumer segments, increasing industrialization.
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About the report:
The global wireless display market is analyzed on the basis of value (USD billion). All the segments have been analyzed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insights of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, and competitors’ position grid analysis.
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