According to a new market report published by Credence Research, Inc., “Global Wireless Display Market (By Offerings (Hardware, Software and Services), By Technology (Google Cast, WiDi, Wireless HD, Miracast, Airplay, and Others), By Application (Residential and Commercial)) – Growth, Future Prospects and Competitive Landscape, 2018 – 2026”, the global wireless display market is expected to witness a growth of 11.5% CAGR during the forecast period from 2018 to 2026.
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The global wireless display market was valued at US$ 2.96 Bn in 2017 and is projected to witness a significant growth, growing at a CAGR of 11.5% during the forecast period from 2018 to 2026. Wireless displays are helpful in projecting the web content, pictures, videos, music, movies, etc. from any handheld device onto a projection screen or television. It aids enhanced content viewing over a peer-to-peer (P2P) media transmission to larger display gadget without using any wired medium. Massive adoption of smart devices including smartphones, smart television, laptops and computers coupled with steep increase in the evolution of display technologies are some of the major factors driving the growth of global wireless display market worldwide. Growing digitization is another important factor augmenting the market growth. Moreover, rising popularity of on-demand digital multimedia content coupled with affordability of mobility solutions and wireless connectivity is likely to boost the growth of wireless display market throughout the forecast period from 2016 to 2026.
The global wireless display market, based on offerings was dominated by the hardware segment in 2017. Hardware is the primary component of the wireless display set-up as it helps facilitating an effective content transfer. Availability of numerous connecting devices including dongles, adapters and other additional devices at minimal cost has been contributing to the growth of this segment. Further, based on geography, the overall wireless display market was led by North America in 2017. The growth of this region is mainly credited to the technological advancements and increased adoption of display technologies across the commercial and residential applications.
Major players in the wireless display market include Google LLC, Amazon.com, Inc., Apple Inc., Intel Corporation, Microsoft Corporation, Roku, Inc., Netgear Inc., Cavium Inc., Actiontec Electronics, Inc., Belkin International, Inc., Lattice Semiconductors, and MediaTek Inc. among others. The wireless display providers are adopting a number of strategies to thrive in the competitive environment. The market players are continuously making significant investments in the product innovations to aid the sale of their products and are also expanding in the market to withstand their competition and sustain their position. Partnerships and new product development remain the most significant strategies that are been adopted by the key players to obtain superiority over others.