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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Further key findings from the study suggest:
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 has segmented the global interactive whiteboard market based on technology, form factor, projection technique, application, and region:
Interactive Whiteboard Technology Outlook (Revenue, USD Million, 2016 - 2027)
Interactive Whiteboard Form Factor Outlook (Revenue, USD Million, 2016 - 2027)
Interactive Whiteboard Projection Technique Outlook (Revenue, USD Million, 2016 - 2027)
Interactive Whiteboard Application Outlook (Revenue, USD Million, 2016 - 2027)
Interactive Whiteboard Regional Outlook (Revenue, USD Million, 2016 - 2027)
Middle East & Africa
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