The global interactive whiteboard market size is estimated to reach USD 2.36 billion by 2025 expanding at a CAGR of 6.8% from 2019 to 2025, according to a study conducted by Grand View Research, Inc. Rising need for standalone systems for collaborative meetings and digital learning methods is expected to boost the demand for whiteboards across the world. The introduction of 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, have favorably impacted the adoption of IWB technologies. This technology is getting integrated at all levels of education including primary, secondary, and higher education. Furthermore, the introduction of advanced learning methods and emphasis on the gamification in education system have boosted the demand for digital learning. Differently-abled students can benefit from the convenience and flexibility that IWBs offer. They 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. Several government initiatives across the world aimed at transforming the conventional blackboard classrooms into digital ones will augment the demand.
Thus, increasing implementation of virtual learning and e-learning environments across the globe, particularly in developing countries, is further expected to bolster the market growth over the forecast period. However, high complexity and integration cost along with the lack of technical knowledge and training pertaining to the use of information and communication technologies may hinder the growth. Moreover, insufficient funding and resources are some of the major challenges faced by educational institutions, which may restrain the growth. Additionally, increasing penetration of interactive flat panel displays and availability of other substitute technologies, such as holographic and multi-touch interactive displays, in the education sector are expected to impede the interactive whiteboard (IWB) market growth.
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Further key findings from the study suggest:
Increasing adoption of emerging learning techniques in the education industry through the use of interactive technologies is likely to drive the market over the forecast period
Capacitive IWBs is expected to register the highest CAGR over the forecast period as they facilitate better content management and deliver high-quality content
Portable IWBs have a high demand from the commercial sector as they have compatibility between various business tools and offer support through advanced analytics
Front projection technique IWBs are widely used in schools and colleges as they offer brighter screens and are often preferred for large event spaces
However, the demand for rear projection IWBs is projected to expand at the highest CAGR over the forecast period
The product demand in the education application sector held more than 60% of the overall market share and is anticipated to register the highest CAGR of 7.2% in the forecast period
APAC is said to be the fastest-growing region due to rapid evolution of communication systems, digital technologies, and development of educational infrastructure
Prominent industry participants include Cisco Systems, Inc.; Google, Inc.; Hitachi, Ltd.; Microsoft Corporation; and Panasonic Corporation
Grand View Research has segmented the global interactive whiteboards market on the basis of technology, form factor, projection technique, application, and region:
Interactive Whiteboards Technology Outlook (Revenue, USD Million, 2014 - 2025)
Interactive Whiteboards Form Factor Outlook (Revenue, USD Million, 2014 - 2025)
Interactive Whiteboards Projection Technique Outlook (Revenue, USD Million, 2014 - 2025)
Interactive Whiteboards Application Outlook (Revenue, USD Million, 2014 - 2025)
Interactive Whiteboards Regional Outlook (Revenue, USD Million, 2014 - 2025)
Middle East & Africa
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