ID: MRFR/SEM/4629-HCR | February 2021 | Region: Global | 100 pages
The Interactive Whiteboard (IWB) Market is estimated to grow at a CAGR of 5%. The market value is estimated to touch up to USD 5 Billion during the forecast period 2017-2023. The use of Interactive Whiteboard has helped to transform education and business methods across the world. Hence, the growing technological advancements and deployment of Interactive Whiteboards in the education sectors are driving the market growth. Also, the growing emphasis on virtual learning across schools and colleges is the major reason for the robust growth.
There are several restraints such as high installation costs of the Interactive Whiteboards are speculated to hamper the market growth. However, various alternative and technological advancements will lead to substantial growth. The market segments of the Interactive Whiteboard Market Outlook are divided into a screen size, technology, type, and end-user.
The education sector was highly impacted by the spread of the COVID-19 disease. The spread of the disease led to the closedown of offices and educational institutions across the world. Due to this reason, the increase in virtual learning methods witnessed a spike during 2020-2021. According to the Interactive Whiteboard Market Research Report, more than 250,000 classrooms in 2019 across the world equipped Interactive Whiteboards in the US. Thus, the COVID-19 disease is expected to upscale the market at a significant rate.
Several drivers are estimated to drive the market. The increasing use of new technologies such as tablets, laptops, Interactive Whiteboards in the educational industries is a major factor. Along with that, the changes in the habit in lifestyle due to the spread of COVID-19 and increasing virtual classrooms are increasing the demand for digital learning. Furthermore, the installation of portable Interactive Whiteboards in the commercial sector will also boost the market in the upcoming years.
There are certain facts such as high costs of installation and high complexities that will restraint the market growth. Furthermore, the lack of knowledge in the technical field and proper training of laborers will also hamper the market growth in the upcoming years.
The integration of Artificial Intelligence and interactive features will open new opportunities for the market. Also, the rising trends of virtual learning in schools and colleges will promote the Interactive Whiteboard Market Growth. Hence, the market will witness robust growth and offer new opportunities for various industries.
The development of new technologies and the changing pattern learning can majorly affect the market. Programs in educational institutes such as BYOD (Bring Your Own Device) in major countries can be challenging for market growth.
The Compound Annual Growth Rate (CAGR) of the Interactive Whiteboard (IWB) Market is estimated to grow at 5%. The rising Interactive Whiteboard Market Demands will boost the market value up to USD 7 Billion during the forecast period 2017-2023. Hence, the market will have robust growth in the upcoming years.
Value Chain Analysis
The increasing opportunities and demand of Interactive Whiteboards will boost the market effectively. The driving factors such as the rising demand and rapid technological developments are some positive factors. Furthermore, the improvements by the key players will also enhance the value chain of the Interactive Whiteboard (IWB) Market.
The Interactive Whiteboard Market Size is divided into technology, types, end-user, and screen size. On the basis of technology, the market is divided into Electromagnetic, Ultrasonic, Laser Scanner, Resistive Membrane, and Infrared.
By types, the market is bifurcated into EM Boards, IR Boards, and Interactive Ceramic Boards.
By screen size, the market is divided into 70”, 60”, and 90”.
On the basis of end-user, the market is divided into Corporate, Government, and Education. The education sub-segment is divided into Higher Education, Pre-K-12, others.
Regionally, the market is divided into North America, Asia-Pacific, Europe, Latin America, the Middle East, and Africa. North America will hold the largest Interactive Whiteboard Market Opportunities. The growing technological advancements and high adoption rate of Interactive Whiteboards are major factors for the huge share in the market.
Europe will hold the second-largest share due to the rising demand for Interactive Whiteboards. Also, the use of IWs for higher education and Pre-K-12 will boost the market extensively.
However, the Asia-Pacific region is estimated to have lucrative growth in the upcoming years. The use of the Interactive Whiteboards for virtual learning in educational institutes and offices is fuelling the market in Asia-Pacific. Hence, in the upcoming years, the Asia-Pacific region will also hold a considerable Interactive Whiteboard Market Share.
The key players use different strategies such as mergers, acquisitions, collaboration, product launches, etc. to improve their market presence. The notable Interactive Whiteboard Market Key Players are listed below-
The overview of the Interactive Whiteboard Market Research Report is as follows.-
Report Score and Segmentation
The report score provides the estimated market value of the Interactive Whiteboard (IWB) Market. It gives information about the drivers, opportunities, market players, challenges, and recent developments. The information provided in this report is collected from primary and secondary sources.
|Market Size||USD 5 Billion (2023)|
|Forecast Units||Value (USD Billion)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||By Type, By Technology|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Hon Hai Precision Industry Co., Ltd. (Taiwan), Hitachi, Ltd. (Japan), Samsung Group (South Korea), LG Electronics Inc. (South Korea), Panasonic Corporation (Japan), NEC Corporation (Japan), The Ricoh Company, Ltd. (Japan), Google LLC (U.S.), Cisco System, Inc. (U.S.), Smart Technologies Corporation (U.S.) and Microsoft Corporation (U.S.)|
|Key Market Opportunities||The growth of the interactive whiteboard market in North America is attributed to the increasing demand for interactive whiteboard in the education sector.|
|Key Market Drivers||The growing demand for digital classrooms is the major driver for the global interactive whiteboard market.|
Frequently Asked Questions (FAQ) :
The global interactive whiteboard market is expected to reach a valuation of USD 5 billion by 2023.
The global interactive whiteboard market is expected to exhibit a strong 5% CAGR over the forecast period from 2016 to 2023.
The growing demand for digital classrooms is the major driver for the global interactive whiteboard market.
North America is likely to account for the largest share in the interactive whiteboard market.
Leading players in the global interactive whiteboard market include Cisco Systems Inc., Google LLC, Panasonic Corporation, Hitachi Ltd., LG Electronics Inc., Microsoft Corporation, and Samsung Group, among others.
An interactive whiteboard is referred to an instructional tool that enables the computer images to be displayed with high-resolution, smooth handwriting and easy remote image sharing onto a board using a digital projector.