The wireless display market is expected to reach USD 5.38 Billion by 2023, growing at a CAGR of 11.1% between 2017 and 2023. The wireless display technology is predominantly being adopted in the consumer application owing to the widespread use of products such as smartphones, tablets, smart TVs, and computers. The commercial applications of the wireless display technology are also growing at a good rate, especially in the corporate, healthcare, and educational sectors.
In 2016, the wireless display market was dominated by North America owing to the fact that most of the major companies operating in the market are based in this region. Moreover, the technological innovations put forth by the vendors are widely adopted in the consumer and commercial applications in North America. Asia Pacific (APAC) is a prominent region for the wireless display market and is expected to demonstrate the fastest growth between 2017 and 2023. The evolutions in the wireless display technologies with respect to the increased capacity for higher resolution are driving the growth of the wireless display market for hardware offerings.
As the wireless display market is evolving, product developments and launches are actively being pursued in this market space. The companies have developed new products to target new segments or to widen their market share by providing additional features in their existing products. The wireless display technology has kept pace with developments in display technology especially in terms of video resolution. Most of the products in the market are compatible with 1080p resolution while some products support 4K resolution. The companies have also collaborated in terms of technology sharing. This has helped the emerging companies to offer customized products especially in the software support aspect of the wireless display market. The prominent companies have collaborated with others for developing products suited for specific applications. Some companies have even resorted to acquisitions to obtain technologies to advance in the market. Expansion is the most effective strategy used in the market, especially in the dominant consumer application segment, to reach out to a wider consumer base in newer geographies.
Google, Inc. (US) was ranked first in the wireless display market. The company provides Google Chromecast and Chromecast Ultra with good streaming quality. The devices are compatible with a number of consumer electronics products in the market. It is compatible with recent versions of Android, Windows, Mac OS, and iOS. The company has an excellent geographic reach, and its services are widely used all over the world. The dedicated wireless display device and its compatibility with a good number of market products reflect the effectiveness of the company’s business strategy. In the wireless display market, the company has offered a variety of products such as adapter, in-built technology in televisions, and web browser-based support. For instance, the company launched a new variant of its Chromecast product—Chromecast Ultra in 2016, which can support 4K resolution, High Dynamic Range (HDR), and Dolby vision. This increased performance capabilities of the product are directed toward the high-end display applications. Product variety coupled with strong marketing is bound to help the company to grow significantly in the wireless display market.
Amazon.com, Inc. (US) was ranked second in the wireless display market. The company has a good geographic footprint owing to its e-commerce platform for a variety of products. The wireless display devices offered by the company can support a good degree of video resolution and can be used in entertainment and gaming applications. The devices are Miracast-certified and are compatible with most modern television sets. The company has regularly updated its products for improving their performance, which would help the company to gain a competitive edge in the market. For instance, the company launched an improved version of the Amazon Fire TV Stick in 2017, having 30% faster performance with the aid of a quad-core processor for video streaming. The capacity of its flagship product, Amazon Fire TV, to handle 4K resolution is also an added advantage for the company. The company has aggressively marketed its Amazon Fire TV offering on back of a strong advertising campaign. With significant operating margin, the company can afford to sustain expansions in nascent market regions.
Roku, Inc. (US) was ranked third in the wireless display market. The company has a strong presence in the US and a good presence in Europe. The company has also entered the Asian market for video content streaming. The company has a diversified product portfolio. The company’s flagship product, the Roku TV can support up to 4K resolution of video. The company launched a new streaming product, Roku Express in 2016, a small and compact device, which can support 1080p HD resolution of video. The company also offers a Roku mobile app, which allows videocasting from iOS and Android-based devices. The company had about 15 million monthly active accounts in 2016. The company has also benefited by partnering with various smart TV providers such as Hisense USA (US) and Hitachi America, Ltd. (US).
Wireless Display Market by Offering (Hardware, Software & Services), Application ( Consumer, Commercial - Corporate, Education, Healthcare, Signage, Government), Technology Protocols (Miracast, WiDi), and Geography - Global Forecast to 2023
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