Wireless Display Market Size, Industry Trends Report | 2031

Report Description

Wireless Display Market Outlook 2031:

The global wireless display market size was valued at USD 4.67 Billion in 2022 and is projected to reach USD 12.62 Billion by 2031, expanding at a CAGR of 11.68% during the forecast period 2023 - 2031. The growth of the market is attributed to the rising demand for various wireless display technology owing to the increasing preference for visual advertising as well as promotional strategies in commercial spaces.

Wireless display is a display technology widely used to stream movies, videos, or photos without the use of external wire. A wireless display allows users to display the content from their mobile device on their TV or projector screen. The arrival of streaming solutions such as software suites, adapters, and other streaming devices have transformed the meaning of communication, collaboration, and entertainment.

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Various wireless streaming devices are used by several organizations across the globe to ensure effective communication within an organization in relation to their stakeholders such as employees, customers, and investors. Using wireless display technology, a business organization can easily access to information of several units of organization by controlling a centralized data.

Owing to these advantages, the technology is widely adopted as solutions for different organizational levels for managing engagement of workforce and training employee.

Various initiatives and strategies adopted by governments from different countries such as China, India, and the U.K. are aiming to enhance the adoption rate of digital multimedia devices. For instance, an initiative for “Smart Cities Mission”, launched by the Government of India, was aimed to promote the use of digital multimedia devices for developing smart cities across the country.

This led to increase the demand for wireless display solutions including variable signboards, interactive wayfinding, and LED unipoles in the country. The suppliers of wireless display solution are constantly making significant investments in product developments, which is pushing towards the production of cost-effective streaming devices. These streaming devices offer an advanced degree of digital convergence with an ease process of setting up conference rooms.

Wireless Display Market Trends, Drivers, Restraints, and Opportunities

• Growing adoption of wireless display technology for various residential applications including streaming online content and mirroring the content from external sources are expected to fuel the market.
• Increasing demand for the technology in a range of next generation applications including gaming, digital signage, and virtual reality is anticipated to boost the market expansion.
• Expanding penetration of smartphone devices, rising adoption of digital learning devices, as well as wide use of wireless streaming devices in commercial sector are key factors driving the market growth.
• Lack of wireless infrastructure, high manufacturing cost, and connectivity issues in developing regions such as Asia Pacific and the Middle East & Africa are key challenges that can hinder the market growth during the analysis period.
• Various ongoing R&D activities and huge investments by some market players to produce advanced display technology are presenting numerous opportunities for the expansion of market.

Scope of the Wireless Display Market Report

The report on the global wireless display market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Global Wireless Display Market Segment Insights

Hardware segment is anticipated to constitute a high revenue share

Based on offerings, the market is bifurcated into hardware and software & services. The hardware segment is anticipated to constitute a high revenue share during the forecast period owing to the availability of different hardware devices including dongles, adapters, and other streaming devices at less price.

On the other hand, the software & services segment is projected to register a high CAGR during the forecast period owing to constant developments in software suites which offer effective communicative service for different business environments.

The streaming software solutions such as operating systems (OS), software suites, and streaming services are increasingly provided by different cloud platforms, which act a key driving factor for the segment growth. These steaming solutions provide several advantages regarding easy upgrade, seamless incorporation, scalability, operational costs, flexibility, and other parameters.

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Commercial segment is expected to register a high CAGR

On the basis of end-users, the global wireless display market is classified as residential and commercial. The commercial segment is expected to register a high CAGR in the coming years owing to the rising requirement for effective communication platforms, interactive workforce involvement, and the increasing adoption of wireless technologies in commercial spaces.

The streaming devices are broadly used in commercial spaces over different sectors including healthcare, education, private, and government. On the other hand, the residential segment is anticipated to constitute a significant revenue share during the analysis period owing to the increasing adoption of consumer electronic devices enabled with interactive wireless technology.

The streaming devices equipped with wireless technologies offer improved user experience, low-cost engagement, and on-demand entertainment platforms, which help boost the segment expansion.

Google cast segment is projected to expand at a significant growth rate

Based on technology, the market is divided into AirPlay, Google cast, Miracast, and others. The Google cast segment is projected to exhibit a significant growth rate over the analysis years owing to the increasing adoption of low-cost devices by consumers for diverse applications including personal, business, and gaming. Google cast offers enhanced compatibility among cost-effective consumer electronic devices and different resolution systems such as low, HD, and Ultra-HD systems.

However, the Miracast segment is anticipated to account for a substantial market share in the coming years due to easy connectivity using mobile device with the help of the technology. On the other hand, the AirPlay segment is expected to register a substantial market share in the coming years due to its growing adoption in gaming applications, which need multiple screens and high-end graphics. On iOS, AirPlay offers an attractive user interface with easy-to-understand control functions.

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North America and Europe combined to constitute a high revenue share

In terms of regions, the global wireless display market is categorized into Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. The markets in North America and Europe in combined are anticipated to constitute a major revenue share during the forecast period owing to the increasing usage of consumer electronics such as smart TVs, laptops, smartphones, and others among a large number of population in these regions.

However, the market in Asia Pacific is projected to expand at a high CAGR during the analysis period due to the rising establishment of several business enterprises impacted by urbanization and growing adoption of the technology in several industries in this region. Additionally, many developing economies including India, Japan, and China are adopting digital strategies to use digital solutions for several development programs.

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