The growth of the global wireless display market is thriving on the back of the increasing adoption of digital signages and digital-out-of-home (DOOH) technologies in commercial verticals backed by the technological advancements in display products. These digital signages are installed in commercial places, for instance, retail stores, hospitality and other public spaces for advertisement, product information, instructions and others. Moreover, utilization of these digital signages helps retailers in creating an enriching shopping environment. The increasing adoption of digital signages have also contributed towards the greater adoption of wireless connectivity, which in turn is anticipated to contribute significantly towards the growth of the global wireless display market. Additionally, increasing demand for 4K and 8K televisions and other advanced television technologies along with the growing technological infrastructural development across nations are some of the factors anticipated to contribute towards the growth of the global wireless display market.
Global wireless display market reached a value of around USD 2900 million in the year 2018 and is expected to garner a value of around USD 7100 million by the end of 2026 by registering a CAGR of around 12% across the globe over the forecast period 2019-2026. Further, the worldwide market of wireless display is anticipated to achieve an absolute $ opportunity of around USD 3900 million during the forecast period.
Growth Highlights based on Region during 2018-2026
The global wireless display market is segmented by regions into North America, Latin America, Europe, Asia Pacific and Middle East and Africa. Among these regions, the market of North America wireless display market is driven by U.S. and Canada, where U.S. held the dominant market share of around 52% in the year 2018. Additionally, North America held a market share of around 34% in the year 2018 and is further anticipated to cross a value of around 2500 million by the end of 2026. Furthermore, the North America wireless display market is expected to expand by observing a growth rate of around 2.20x over the forecast period which in turn is estimated to have a positive effect on the demand for wireless display in the long run. CLICK TO DOWNLOAD SAMPLE REPORT
Further, the wireless display market in Asia Pacific is anticipated to grow with the highest CAGR of around 13% during the forecast period and cross a value of around USD 1800 million by the end of 2026. The wireless display market in Asia Pacific comprises of countries such as China, India and Japan out of which China held the largest market share of around 28% in the year 2018.
The study further incorporates Y-O-Y Growth, demand & supply and forecast future opportunity in North America (United States, Canada), Latin America (Brazil, Mexico, Argentina, Rest of LATAM), Europe (U.K., Germany, France, Italy, Spain, Hungary, BENELUX [Belgium, Netherlands, Luxembourg], NORDIC [Norway, Denmark, Sweden, Finland], Poland, Russia, Rest of Europe), Asia-Pacific (China, India, Japan, South Korea, Malaysia, Indonesia, Taiwan, Hong Kong, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa).
Market Segmentation Synopsis
By Protocol Technology
The global wireless display market has been segmented on the basis of protocol technology into AirPlay, WirelessHD, WHDI, DLNA, Miracast, Google Cast and others. The Google Cast segment with around 24% share in the year 2018, occupies the largest market of wireless display across the globe. Additionally, the Google Cast segment is anticipated to cross a value of around USD 1900 million by the end of 2026 by registering the largest CAGR of around 14% over the forecast period. The growth of the segment can be attributed to the easy set-up of Google Cast, low cost, greater device integration and others. Further, the AirPlay segment is estimated to grow with a significant CAGR of around 13% over the forecast period.
Market Drivers and Challenges
With the ongoing digital globalization, there has been a prolific increase in the number of smartphones, tablets, computers and smart TVs around the globe over the years. Not only are these devices being utilized for personal use, but are also used massively by professionals in enterprises, for educational purposes as well as for entertainment. Moreover, the increasing growth of on-demand entertainment market around the world is contributing significantly towards a culture of perpetual engagement amongst the population and has further resulted in the traditional broadcast paradigm of displays to become antiquated. The increasing replacement of traditional broadcast paradigms with modern advanced wireless display technology along with the growing adoption of wireless display technology that helps individuals around the globe to share data for a more interactive and engaging experience are some of the factors anticipated to drive the growth of the global wireless display market. Additionally, with the continuous innovation of media and telecommunication industry and the advent of OTT content, these internet-based services have shown rapid growth in the media industry, which is also anticipated to drive the growth of the global wireless display market.
Although the advent of wireless display technology is growing at a rapid pace, yet traditional modes of transfer of data by the use of HDMI and USB cables as these type of connectivity mediums are a cheaper substitute in wired connectivity, which is considered as one of the major factors that is anticipated to impact negatively towards the growth of the global wireless display market.
Some of the affluent industry leaders in the global wireless display market are Splashtop Inc., Airtame Inc., Alphabet Inc., Apple Inc., Microsoft Corporation, Roku, Inc., Squirrels, LLC, NETGEAR Inc., Belkin International, Inc. and Lattice Semiconductor Corporation.
Increasing advancements in wireless displaying technology, along with the advent of internet-based services such as OTT content and increasing adoption of such services are some of the major factors that are driving the growth of the market.
The market is anticipated to attain a CAGR of around 12% over the forecast period, i.e. 2019-2026.
North America is anticipated to hold the dominating share in the market.
The market in Asia Pacific is anticipated to provide more business opportunities in the future.
The major players in the global wireless display market are Splashtop Inc., Airtame Inc., Alphabet Inc., Apple Inc., Microsoft Corporation, Roku, Inc., Squirrels, LLC, NETGEAR Inc., Belkin International, Inc. and Lattice Semiconductor Corporation.
The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determines the revenue generating capacity as well as the new products being launched into the market by the company.
The market is majorly segmented by protocol technology, offering, application and by region.
The Google Cast segment, which is a sub-segment of the protocol technology segment, held the largest market share of around 24% in the year 2018, is anticipated to show significant growth opportunity in the future.
Growing concerns for the use of cheaper substitutes such as HDMI and USB cables, which are the traditional modes of transfer of data are some of the major factors anticipated to act as a barrier towards the growth of the market.
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