The global Interactive Whiteboard Market size is estimated to reach USD 2.8 billion by 2027, growing at a CAGR of 7.6% from 2020 to 2027, according to a study conducted by Grand View Research, Inc. Surging need for standalone systems for collaborative meetings and digital learning methods is expected to boost the demand for interactive whiteboards across the globe. Rising popularity of digital learning and increasing technological advancements are also responsible for driving the demand market for interactive whiteboard over the forecast period.
The introduction of Interactive Whiteboards (IWBs) has
technologically transformed in the areas of education, modern business methods,
and other commercial spaces. It offers increased involvement of peers through
screen sharing and interactive communications. It also provides digital
annotation of documents to enable mobility and facilitate ease of operability
for end-users. Factors such as the changing consumer lifestyles and worldwide
penetration of the internet has positively impacted the adoption of the
technology. In recent times, this technology is getting integrated at all
levels of education including primary, secondary, and higher education.
Furthermore, the introduction of advanced learning methods and a high emphasis
on the gamification in education system has boosted the demand for digital
learning, thereby resulting in the growth of the market for interactive
whiteboard.
Differently abled students can benefit from the
convenience and flexibility offered by the product. It provides assistance to
students with visual as well as hearing impairment. Also, real-time online
classes ensure that the unique learning requirements of each student are met
satisfactorily with minimal cost of learning. Furthermore, various governments
across the worldare undertaking and implementing several initiatives aimed at
transformation of the conventional blackboard classrooms into digital ones.
Thus, increasing implementation of virtual learning and e-learning environments
across the globe, particularly in developing countries, is also expected to
bolster market growth.
However, high complexity, high integration cost, lack of
technical knowledge, and training pertaining to the use of information and
communication technologies are factors restraining the market for interactive
whiteboard. Insufficient funding and resources are some of the major challenges
faced by educational institutions. Nevertheless, increasing penetration of
interactive flat panel displays or whiteboards and availability of other
substitute technologies such as holographic and multi-touch interactive
displays or whiteboards, in the education sector are expected to impede market
growth over the forecast period.
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Interactive Whiteboard Market Report Highlights
- Increasing
adoption of emerging learning techniques in the education industry through
the use of interactive technologies is predicted to drive the interactive
whiteboard market over the forecast period. This shift in trend is the
result of the increasing penetration of mobile devices, laptops, tablet,
and other devices, to enable rich communication surrounding
- The
capacitive segment is expected to register the highest CAGR over the
forecast period as these IWBs facilitate better content management and
deliver high-quality content
- Portable
IWBs receive favorable adoption from the commercial sector on account of
its light weight, compatibility between various business tools, and
support through advanced analytics. The demand for portable IWBs is
therefore expected to witness a CAGR exceeding 8% over the forecast period
- The front
projection technique is widely adopted in schools and colleges as these
IWBs offer brighter screens and are often preferred for large event spaces
in comparison to rear projection IWBs. Although the demand for front
projection IWBs exceeded 60% of the overall market share in 2019, the
demand for rear projection IWBs is projected to witness the highest CAGR
over the forecast period. Rear projection IWBs are gaining popularity on
account of their high image quality and minimal shadow effects when
displaying content
- Asia
Pacific is projected to exhibit a significant CAGR on account of the rapid
evolution of communication systems, digital technologies, and development
of educational infrastructure in the region. Moreover, the growing need
for efficient learning methods including online learning, distance
learning, and interactive learning is expected to spur market growth in
this region over the forecast period
- Prominent
industry participants include Cisco Systems, Inc.; Google Inc.; Hitachi,
Ltd.; Microsoft Corporation; and Panasonic Corporation. Owing to the
intense competition and volatile nature of interactive technologies, key
market players are increasingly focusing on R&D investments. These
companies are introducing new products and services in order to address
the evolving needs of consumers.
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
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