What Factors Propelled The Growth Of The Wireless Display Market In The Past?
The wireless display market has seen considerable growth due to a variety of factors.
• In the past few years, there has been a brisk expansion in the wireless display market size. It is forecasted that it will elevate from $5.4 billion in 2024 to $6.15 billion in 2025, with a compound annual growth rate (CAGR) of 14.0%.
The surge in growth during the historical period is attributed to factors such as the widespread adoption of smart devices, an increase in remote work and bring-your-own-device (BYOD) trends, enhancements in collaboration and productivity, and technological advancements.
What Is The Projected Growth And Market Size For The Wireless Display Sector?
The wireless display market is expected to maintain its strong growth trajectory in upcoming years.
• The market size of the wireless display is projected to experience swift expansion in the coming years. By 2029, estimations suggest it will reach a value of $11.4 billion, with a compound annual growth rate (CAGR) of 16.7%.
The escalated growth over the forecast period is likely due to factors such as advancements in education and e-learning, healthcare and telemedicine, gaming and esports, IoT and smart home integration, and 5G connectivity. Key trends that will define the forecast period encompass cross-platform compatibility, zero-trust security, the emergence of augmented reality (AR) and virtual reality (VR) technologies, interactive displays, and the integration of AI-powered features.
What Factors Are Driving Growth In The Wireless Display Market?
The surge in the use of consumer goods, including smartphones, tablets, computers, and smart TVs worldwide, is a significant factor propelling the market's expansion. Wireless display technology, which facilitates content viewing from a phone or a computer on a TV or projector without the need for a video cable, is a key element in this trend. The escalating global demand for consumer goods, such as smartphones, is largely due to the numerous advantages they provide, including enhanced connectivity and remote operation. As a result, the growing usage of smartphones, tablets, computers, and smart TVs directly correlates to an increased demand for displaying content on large screens, further propelling market growth. For instance, the world had 6.648 billion smartphone users in 2022, comprising 83.72% of the global population. In a similar vein, based on the US Census Bureau's Current Population Survey (CPS) and American Community Survey (ACS), the ratio of families owning at least one computer rose from 89.3% in 2016 to 94.5% in 2021 and is forecast to hit 95.2% in 2022. This growth in consumer products usage is set to fuel the expansion of the wireless display market.
What Are The Main Segments Of The Global Wireless Display Market?
The wireless display market covered in this report is segmented –
1) By Offering: Hardware, Software And Services
2) By Technology: WirelessHD, WiDi, Miracast, AirPlay, Google Cast, Digital Living Network Alliance (DLNA), Other Technologies
3) By Application: Consumer, Corporate And Broadcast, Digital Signage, Government, Healthcare, Education, Industrial, Other Applications
Subsegments:
1) By Hardware: Wireless Display Adapters, Smart TVs, Projectors, Digital Signage Displays
2) By Software: Mirroring Applications, Streaming Software, Management And Control Software
3) By Services: Installation Services, Maintenance And Support Services, Consulting Services
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What Emerging Trends Are Influencing The Growth Of The Wireless Display Market?
Companies in the wireless display industry are concentrating on introducing various innovative products or devices in the market to attract more consumers. A product release is part of a strategic and organized effort to introduce a fresh product in the market and make it ready for sale. For instance, in July 2024, LG Electronics Inc., a prominent South Korea-based multinational consumer electronics and major appliance corporation, debuted its M4 OLED TV. The LG M4 OLED represents a significant advancement in TV technology, with its wireless features simplifying home setup. It provides excellent image quality, powerful processing capability, and strong gaming support, making it a preferred option for those seeking the newest technology in their television viewing experience.
Who Are the Key Players in the Wireless Display Market?
Major companies operating in the wireless display market include:
• Amazon.com Inc.
• Actiontec Electronics Inc.
• Alphabet Inc.
• Apple Inc.
• Belkin International Inc.
• Google LLC
• Intel Corporation
• Lattice Semiconductor Corporation
• Marvell Semiconductor Group Ltd.
• MediaTek Inc.
• Microsoft Corporation
• NETGEAR Inc.
• Qualcomm Incorporated
• Roku Inc.
• Silicon Image Inc.
• Splashtop Inc.
• Squirrels LLC.
• Airtame ApS
• Barco NV
• BenQ Corporation
• Crestron Electronics Inc.
• Dell Technologies Inc.
• Epson Corporation
• InFocus Corporation
• Kramer Electronics Ltd.
• LG Electronics Inc.
• Mersive Technologies Inc.
• Optoma Technology Inc.
• Samsung Electronics Co. Ltd.
What Is The Most Dominant Region In The Wireless Display Market?
North America was the largest region in the wireless display market in 2024. Asia-Pacific is expected to be the fastest-growing region in the wireless display market report during the forecast period. The regions covered in the wireless display market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
