The global interactive whiteboard market is expected to reach an estimated USD 3.1 billion by 2028, expanding at a CAGR of about 7.5% during the forecast period, 2021–2028. The growth of the market is attributed to the increasing acceptance of digital learning and expanding technological advancements for smart teaching in classrooms or any conference/discussion rooms.
The interactive whiteboard (IWB) has technically transformed in the areas of modern business methods, education, and other commercial areas. It provides a medium through which people can participate in screen interactive communications and sharing. It also offers digital presentation of documents to permit mobility and simplified operating for end-users. Changing customer lifestyles and rising penetration of the Internet are the key factors that raise the adoption of the technology across various industries. This technology is widely integrated at all stages of education including primary, secondary, and higher education for smart learning. The introduction of innovative learning systems in education has boosted the demand for interactive whiteboard.
The report on the global interactive whiteboard market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been involved in the report.
|Report Title||Interactive Whiteboard Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast|
|Segmentation||Technology (Capacitive, Electromagnetic Pen, Infrared, and Resistive Membrane), Form Factors (Portable and Fixed), Projection Techniques (Front Projection and Rear Projection), Applications (Education, Commercial, and Corporate)|
|Regional Scope||Asia Pacific, North America, Latin America, Europe, and Middle East & Africa|
|Report Coverage||Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast|
|Key Players Covered||Microsoft Corporation, BenQ Corporation; Cisco Systems, Inc.; Boxlight Corporation; and Google Inc.|
In terms of technology, the market is divided into capacitive, electromagnetic pen, infrared, and resistive membrane. The infrared segment is expected to constitute a considerable CAGR of 6.7% during the forecast period. The infrared-based IWBs are easy to operate and are sturdy as compared to other technology-based IWBs such as capacitive or resistive membrane IWBs. They are widely used in classrooms, corporate boardrooms, and training rooms. In 2019, the resistive membrane segment was accounted for a large share and is expected to grow at a high CAGR of 7% during the analysis period. The resistive membrane-based interactive whiteboard supports touch-based interactions, plus it can be fully operated using a finger.
Based on form factors, the global interactive whiteboard market is bifurcated into portable and fixed. In 2019, the portable IWBs segment held a major share of the market and is projected to constitute a robust growth rate during the analysis period. The portable IWB does not need any exterior support and are perfect for last-minute presentations during business trips. Owing to such advantages, the portable IWBs are acquiring popularity among consumers. However, the fixed segment is also expected to expand at a considerable CAGR rate throughout the forecast period. This segment growth is attributed to numerous factors such as low latency time, high resolution for high image quality, and more accurate and responsive interactivity. The fixed IWBs are user-friendly and provide standard feature ratios, which are compatible with a majority of the available computer systems and projectors.
On the basis of projection techniques, the market is bifurcated into front projection and rear projection. In 2019, the front projection segment accounted for a large market share surpassing 60% of the global market and is estimated to increase at a rapid pace during 2021 to 2028. The interactive whiteboards with front projection technique are designed with video projectors. The rear projection segment is projected to expand at a CAGR of more than 9.5% during the analysis period. The rear projection technique recognizes and eradicates presenter’s shadow existing behind the interactive whiteboard, which eliminates a major issue associated with front-projection IWBs. However, the rear projection interactive whiteboards are very expensive than front board projectors and are large in size.
Based on applications, the global interactive whiteboard market is segmented into education, commercial, and corporate. The education segment is anticipated to grow significantly owing to wide adoption of the technology in educational institutes, which enable to produce customized learning items and actual visual experience to students. In 2019, the corporate segment held for more than 15.0% of the global market share. The interactive whiteboards are acquiring grip within the corporate sector as experts in corporate meeting use whiteboard to impart planning, designing, and several other developing stages of a product.
In terms of regions, the market is generally classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. The market in Europe is dominating the market and represented for more than 35% of the global market share in 2019. The market in U.K. is one of the major destination for the IWBs as the education sector widely accept and adopt advanced technologies Meanwhile, the market in Asia Pacific is expected to witness impressive growth during the analysis period owing to the development of e-learning system in emerging economies such as Japan and India.
Major players competing in the global interactive whiteboard market include Microsoft Corporation, BenQ Corporation; Cisco Systems, Inc.; Boxlight Corporation; and Google Inc.
Some of these businesses are involved in adopting numerous market strategies such as merger, acquisition, collaboration, partnership, product launch, R&D activities, and capacity expansion to increase market share and global presence.
Recently, Boxlight Corp. announced the acquisition of EOSEDU, LLC. The former company aimed at expanding its operation in the education technology market through this acquisition deal.
Some other reports from this category!