Wireless Display Market by Offering (Hardware, Software & Services) Geography - Global Forecast to 2023
The wireless display market was estimated at USD 2.86 Billion in 2017. This market would grow at a CAGR of 11.1% during the forecast period and is expected to be worth USD 5.38 Billion by 2023.
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The wireless display technology involves peer-to-peer media transmission between a compatible display device to a larger display without the use of wires. This allows easier setup and use in all applications. The technology can be used to transmit pictures, video, and other OTT-based content from one compatible display device to other. The wireless display has applications in the consumer segment, which is dominated by technology giants such as Google, Inc. (US), Amazon.com, Inc. (US), and Apple Inc. (US). The wireless display technology also has applications in the commercial subsegments such as corporate, healthcare, and education. The widespread use of devices such as smartphones, tablets, Smart TVs, and computers have facilitated the growth of the market in these applications. The digital signage application is expected to create a good growth opportunity for the wireless display market during the forecast period.
North America held the largest share and is expected to dominate the wireless display market between 2017 and 2023. On the other hand, Asia Pacific (APAC) is expected to grow at the highest CAGR. The increasing spending power of the people in the region is boosting the growth of the market, especially in the consumer application. The other commercial application such as corporate, healthcare, and education are also contributing toward the market growth in this region.
A major deterrent for the growth of the wireless display market is the availability of cheaper substitutes for connectivity, such as HDMI cables, which are used in various applications for display casting. The cheaper hardware of wired devices is preferred over wireless display technology for video transmission from one device to other. Limited technological awareness in this regard also reduces the adoption of the wireless display technology across various applications.
The major players involved wireless display market value chain include Google, Inc. (US), Amazon.com, Inc. (US), Apple Inc. (US), Microsoft Corporation (US), Roku, Inc. (US), Lattice Semiconductor (US), NETGEAR Inc. (US), Cavium, Inc. (US), Actiontec Electronics, Inc. (US), and Belkin International, Inc. (US). These players adopted various strategies such as product launches and developments, partnerships, collaborations, business expansions and mergers to cater to the needs of consumers in the market.
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