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Wireless Display Global Market 2024 - Increasing Demand, Emerging Trends, Growth Opportunity And Outlook 2033
Wireless Display Global Market
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According to The Business Research Company's, The wireless display market size has grown rapidly in recent years. It will grow from $4.79 billion in 2023 to $5.51 billion in 2024 at a compound annual growth rate (CAGR) of 15.1%. The growth in the historic period can be attributed to increased adoption of smart devices, rise in remote work and byod, collaboration and productivity, technological advancements.
The wireless display market size is expected to see rapid growth in the next few years. It will grow to $9.71 billion in 2028 at a compound annual growth rate (CAGR) of 15.2%. The growth in the forecast period can be attributed to education and e-learning, healthcare and telemedicine, gaming and esports, iot and smart home integration, 5g connectivity. Major trends in the forecast period include cross-platform compatibility, zero-trust security, augmented reality (ar) and virtual reality (vr), interactive displays, ai-powered features.
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Market Drivers and Trends:
The increased usage of consumer products such as smartphones, tablets, computers, and smart TVs across the globe is contributing to the growth of the market. The wireless display is a kind of technology that enables the display of content from a phone or a computer on a TV or projector without a video cable. Globally there has been an increasing demand for consumer products such as smartphones and others owing to several benefits offered, including increased connectivity, and remote functioning, among others. Thus, an increase in the usage of smartphones, tablets, computers, and smart TVs will be an increase in demand for the display of content on big screens supporting the growth of the market. For example, in 2022, there are 6.648 billion smartphone users in the world which equals 83.72% of the world's population. Similarly, according to US Census Bureau's Current Population Survey (CPS) and American Community Survey (ACS), the percentage of families with at least one computer has increased from 89.3% in 2016 to 94.5% in 2021 and is projected to reach 95.2% in 2022. Thus, the rise in the use of consumer products will drive the growth of the wireless display market.
Companies in the wireless display market are focusing on launching various new products or devices in the market to attract more customers in the market. A product is a coordinated and planned effort to debut a new product to the market and make it available for purchase. For example, in October 2021, BenQ, a Taiwan-based company engaged in selling and marketing technology products, launched a smart wireless portable projector having 2.1 channel speakers, curved ultra-wide entertainment monitors, and Mobiuz-series gaming monitors.
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Major Key Players of the Market:
Amazon.com Inc., Actiontec Electronics Inc., Alphabet Inc., App Dynamic EHF, Apple Inc., Belkin International Inc., Cavium Inc., Google LLC, Intel Corporation, Lattice Semiconductor Corporation, Marvell Semiconductor Group Ltd., MediaTek Inc., Microsoft Corporation, NETGEAR Inc., Qualcomm Incorporated, Roku Inc., Silicon Image Inc., Splashtop Inc., Squirrels LLC., Airtame ApS, Airtight Networks Inc., Barco NV, BenQ Corporation, Crestron Electronics Inc., Dell Technologies Inc., Epson Corporation, InFocus Corporation, Kramer Electronics Ltd., LG Electronics Inc., Mersive Technologies Inc., Optoma Technology Inc., Samsung Electronics Co. Ltd.
Wireless Display Market 2024 Key Insights:
• The wireless display market size is expected to see rapid growth in the next few years. It will grow to $9.71 billion in 2028 at a compound annual growth rate (CAGR) of 15.2%.
• Rising Global Adoption Of Consumer Electronics Fuels The Wireless Display Market
• Innovative Product Launches Propel The Growth In The Wireless Display Market
• North America was the largest region in the wireless display market in 2023
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