The global wireless display market size is projected to touch USD 6.3 billion by 2025 and is estimated to grow at a CAGR of 11.2% from 2019 to 2025, as per a new report published by Million Insights. Wireless display tools are utilized for mirroring and streaming multimedia content using software suites, operating systems and electronic devices. Streaming devices such as modems, dongles, adapter, and other OTT devices that are compatible with Wi-Fi, Bluetooth and Wi-Max are used for wireless connectivity.
Low switching costs, the availability of advanced display technology solutions are projected to drive the demand for electronic devices and streaming video content. In addition, mobility solution, affordable data connectivity and the growing trend of on-demand video is anticipated to bolster the market growth in the next few years.
In enterprises, the streaming solution helps to collaborate & communicate through interaction between customers, employees and stakeholders. Furthermore, various commercial sectors such as banking, government, healthcare, retail, and media invest in visual marketing. In addition, customer engagement, immersive user experiences are expected to positively impact market growth.
Furthermore, high-speed internet service are proliferating the demand for wireless display technologies across the world. Several factors like waiting time for access, lag ratio, high bit rate data are projected to augment the wireless display market growth.
Favorable government initiatives are boosting the product innovation in display technologies. For example, various initiatives like Digital India, U.K. Digital Strategy, Made in China 2025, and others are estimated to positively affect the market growth.
However, the incompatibility of various brands such as Android-based, and Apple (iOS) based streaming devices are posing challenges to market growth. The availability of wired and low-cost solution may restrain the market growth.
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Further key findings from the report suggest:
• Growing network of wireless connectivity and increasing penetration of smartphones are augmenting demand for display technologies.
• Rising trend of on-demand video and over-the-top (OTT) platform is boosting the need for wireless display solutions.
• Software and services segment is anticipated to grow at the fastest CAGR during the forecast period.
• Commercial end-use segment is estimated to grow at the CAGR of around 13.0% from 2019 to 2025.
• Google cast technology segment is projected to register the fastest CAGR during the forecast period. Greater compatibility offered by this solution is mainly contributing to the market growth.
• Europe led the market in 2018 with the highest share in the overall market.
• Key players in the market include Google LLC, Intel Corporation, Roku, Inc., Apple Inc, and Marvell Semiconductor Group Ltd.
Million Insights has segmented the global wireless display market based on offering, end-use, technology and region:
Wireless Display Offering Outlook (Revenue, USD Million, 2014 - 2025)
• Software & Services
Wireless Display End-Use Outlook (Revenue, USD Million, 2014 - 2025)
Wireless Display Technology Outlook (Revenue, USD Million, 2014 - 2025)
• Google Cast
Wireless Display Regional Outlook (Revenue, USD Million, 2014 - 2025)
• North America
• Asia Pacific
• Latin America
• Middle East & Africa