Wireless Display Market Expected to Reach $9.71 Billion by 2030

According to a new report published by Allied Market Research, titled, “Wireless Display Market by Offering, Technology Protocol, and Application: Global Opportunity Analysis and Industry Forecast, 2021–2030”, the global wireless display market size was valued at $3.64 billion in 2020, and is projected to reach $9.71 billion by 2030, registering a CAGR of 11.00%. Asia-Pacific is expected to be the leading contributor to the global market during the forecast period, followed by North America and Europe.      

Wireless display is the sharing technology that delivers the capabilities of wireless display to the business users and the smartphone users in wireless environment. Wireless display technology is embedded and integrated into the chip called wireless display adapter for smartphone. This display adapter enables the users to mirror the screen and displays whatever is on the phone screen. Wireless display is supported with the smartphone, tablets, and other consumer devices wirelessly and displayed on the user's television which is supported with the wireless display technology.  

Wireless display has also established itself as the wireless international standard and it also has the extreme popularity and growth in the various companies and the inter-communication wireless display networks. Also, wireless display access points in internal places can be easily shared with the other computational wireless display devices and it has enabled the smartphone users to gain easy access to the phone screen sharing device.  

The prominent factors that impact the wireless display market growth are increasing demand for wireless display technologies, rise in usage of smart TVs, smartphones, tablets, and computers, and surging demand for over-the-top (OTT) media services. However, high manufacturing costs associate with wireless display restricts the market growth. On the contrary, several governments are taking initiatives and making strategies in emerging economies is expected to create lucrative opportunities for the market. Therefore, these factors are expected to definitely affect global wireless display industry during the forecast period.

Region-wise, the wireless display market trends are analyzed across North America (U.S., Canada, and Mexico), Europe (Germany, UK, France, Italy, and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, and Rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa). Asia-Pacific is dominating the market, due to an increase in adoption of consumer electronic product such as smartphones, tablets, smart TVs, and computers. The overall wireless display market analysis is determined to understand the profitable trends to gain a stronger foothold.

COVID-19 Impact Analysis

The COVID-19 pandemic has significantly impacted global economies, resulting in workforce & travel restrictions, supply chain & production disruptions, and reduced demand & spending across many sectors. Sudden decline in development project is expected to hamper the wireless display market growth.  

The COVID-19 pandemic has impacted every industry such as aerospace & defense, agriculture, food & beverages, automobile & transportation, chemical & material, consumer goods, retail & ecommerce, energy & power, construction, mining & gases, electronics & semiconductor, and others.

As the effect of COVID-19 spreads, the overall market has been impacted by COVID-19 and the growth rate has also been impacted. The slowdown in productions by OEMs and reduction in demand for electronics devices has slightly pulled down the market for wireless display. Shortages of components and materials have significantly impacted the global supply chains. In addition, reductions in various capital budgets and delay in planned projects in various industries have hampered the global economy.  

Key Findings of The Study

• In 2020, the hardware segment accounted for the maximum revenue and is projected to grow at a notable CAGR of 10.10% during the wireless display market forecast period.
• The consumer segment accounted for more than 40% of the global wireless display market share in 2020. 
• The healthcare segment witness highest growth rate during the forecast period.
• UK was the major shareholder in the Europe wireless display market revenue, accounting for approximately 26% share in 2020.   

The key players profiled in the report include Amazon.com, Inc. (U.S.), Apple Inc. (U.S.), Google LLC (U.S.), Intel Corporation (U.S.), Microsoft Corporation (U.S.), Marvell Semiconductor Group Ltd. (U.S.), Roku, Inc. (U.S.), Lattice Semiconductor (U.S.), MediaTek Inc. (U.S.), and NETGEAR, Inc. (U.S.). These players have adopted various strategies, such as partnership, agreement, collaboration, and product launch, to expand their foothold in wireless display industry.