Rise in demand for wireless display innovations, increase in the use of smart TVs, tablets, smartphones, and computers, and surge in demand for OTT media services propel the global wireless display market. The COVID-19 pandemic has impacted the economy across the globe causing workforce & travel restrictions, supply chain interruptions, and reduced demand across sectors.
According to the report published by Allied Market Research, the global wireless display market generated $3.64 billion in 2020, and is anticipated to reach $9.71 billion by 2030, exhibiting a CAGR of 11.0% from 2021 to 2030. The report offers an in-depth analysis of the market size, emerging and current trends, future estimations, and key players.
Rise in demand for wireless display technologies, increase in the use of smart computing devices, such as smartphones, TVs, tablets, and computers, and surge in demand for OTT media services drive the growth of the global wireless display market. On the other hand, high manufacturing costs of wireless displays are expected to hinder the growth. On the contrary, government initiatives and strategies adopted by market players in the future.
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COVID-19 Scenario:
- The COVID-19 pandemic has caused workforce & travel restrictions, disrupted supply chain, interrupted production, and reduced demand in many sectors. Decline in construction projects is anticipated to hinder the wireless display market growth.
- Reduction in the production by OEMs and decline in demand for electronics devices has hampered the wireless display market.
- As the vaccine campaigns are initiated around the globe, the recovery from the pandemic is expected to get better, especially in regions such as North America and Europe.
The report segments the global wireless display market on the basis of technology protocol, offering, application, and region.
Based on the application, the consumer segment accounted for the largest market share in 2020, contributing to more than two-fifths of the total share, and is expected to maintain the lead throughout the forecast period. On the other hand, the healthcare segment is estimated to witness the fastest CAGR of 14.3% from 2021 to 2030.
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Based on offering, the hardware segment contributed to the highest market share in 2020, contributing to around four-fifths of the total market share, and is anticipated to dominate the market during the forecast period. On the other hand, the software & services segment is expected to manifest the fastest CAGR of 13.8% from 2021-2030.
Based on region, Asia-Pacific, followed by North America and Europe contributed to the highest share in 2020, holding more than one-third of the total share, and is expected to maintain dominance throughout the forecast period. The same region is expected to portray the fastest CAGR of 11.9% from 2021-2030.
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Key players of the global wireless display market analyzed in the research include Intel Corporation, Apple Inc., Roku, Inc., Google LLC, Microsoft Corporation, Marvell Semiconductor Group Ltd., Lattice Semiconductor, MediaTek Inc., NETGEAR, Inc., and Amazon.com, Inc.
About Us:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.