The global wireless display market is expected to be valued at US$ 12,989.0 Million by 2032. The growing preference for short-term methodologies and visual marketing in the business sector is expected to drive the utilisation of various types of wireless display connectors over the next ten years.
From 2016 to 2021, interest in wireless displays grew at a 10.4% annual rate. According to FMI, the global wireless display market is expected to reach US$ 4,338.0 Million by 2022.
Wireless Display Market: Rising dispensable livelihoods being the significant supporter of quick changing way of life of populace across the globe are the essential elements adding to ascend in wireless display market. Thus, the market is expected to observe solid development rates in not so distant future. Wireless display innovation provides the capacity to purchasers to transfer recordings, music, films and different media on enormous screens by associating it wirelessly to their viable gadgets.
With huge measure of progressing innovative work the innovation presently upholds much improved goal and 4K substance. These enhancements in innovation can be expected to fuel the reception of wireless displays which thus brings about weighty development rates in not so distant future.
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Global Wireless Display Market: Market Dynamics
Increasing penetration of smartphones, tablets and smart TVs with rising inclination of population towards on-demand entertainment are the primary factors contributing to rise in wireless display devices market. Furthermore, the rise in OTT-content providers offer an increased content to consumers with some wireless display device vendors offering 4K resolution on big screens for entertainment purposes.
Also, these devices give the consumers ability to entertain themselves with videos on big screens with simultaneously working on their laptops to finish their important task. These advancements thus incline consumers towards wireless displays leading to an increased adoption in the market.
Also, Wireless displays are today highly preferred in commercial areas owing to numerous benefits provided by the deployment of wireless displays such as ease of setup and cost effectiveness. As these factors help firms in increasing the productivity with long term cost savings, wireless displays can be anticipated to witness healthy market growth in near future.
However, budget constraints, high manufacturing costs and technical complexities are the primary reasons that can thwart the growth of Wireless Display market. Also, the lack of infrastructure leading to connectivity issues can hinder the market growth in underdeveloped regions such as MEA and Latin America.
Global Wireless Display Market: Segmentation
Global Wireless Display market is segmented on the basis of offering type, application and region.
On the basis of offering type, the global Wireless Display market can be segmented into hardware, software and services.
On the basis of application, the global Wireless Display market can be segmented into consumer and commercial. The commercial segment can be further segmented as corporate, educational, government, healthcare and others.
Some of the prominent companies present in the global wireless display market include Google, Inc., Apple Inc., Microsoft, Roku, Inc., Lattice Semiconductor, NETGEAR, Cavium, Actiontec Electronics, Inc., and Belkin International, Inc. among others.
The majority of the leading players are aiming to launch state-of-the-art wireless displays as per the requirements of a wide range of end-use industries. They are also joining hands with numerous educational institutions to supply their Bluetooth PC monitors for the betterment of students. A few other companies are engaging in mergers acquisitions and joint ventures to strengthen their positions in the global wireless display market.
- In July 2022, Panasonic, an industrial conglomerate company headquartered in Japan, declared that its Panasonic PressIT wireless presentation system was incorporated with two novel features to enable business users to smoothen their content sharing requirements. The company added Multicast and Wireless Display features for helping those looking for immediately share their views with a group. It would also enable users to share content or communicate with their team on a broader scale.
- In July 2022, Google introduced its latest Chromecast with Google TV in India. At present, the device is available on Flipkart and is worth Rs 6,399 (US$ 80.11 Billion). The company is soon expected to market the new product in various other retail stores across the country. The new Chromecast with Google TV features a thin, compact design, and can be effortlessly connected into TV sets via HDMI ports.
- In June 2022, Samsung Electronics America, Inc. unveiled its innovative interactive display called the 2022 Samsung Flip Pro at ISTELive 2022 in New Orleans to accelerate a bright future of education. The product will help teachers to inspire better learning outcomes, spark active learning, and provide dynamic lessons to all students. They can connect the display to any network or device by using wireless screen-mirroring and LAN port.
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In February 2016, Microsoft launched a second generation of its wireless display adapters. The updated adapter offers improved performance with compact size and reduced latency.
Global Wireless Display Market: Regional Outlook
Regionally, the global Wireless Display market can be segmented into North America, Latin America, Western Europe, Eastern Europe, Middle East Africa (MEA), Asia Pacific excluding Japan (APEJ) and Japan.
The North America is the largest contributor to Wireless Display market owing to high use of internet in the region with a high focus on innovations obtained from Research and Development (RD). Asia Pacific is however anticipated to witness highest CAGR owing to increasing number of OTT-content providers. North America, followed by Europe, is the second largest contributor to the market and is expected to witness moderate CAGR in near future.
The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geographies, application, and industry.