Interactive Whiteboard Market Outlook 2031
The global Interactive Whiteboard Market size was valued at USD 2.01 Billion in 2022 and is expected to surpass USD 3.85 Billion by 2031, expanding at a CAGR of 7.5% during the forecast period, 2023–2031. 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 room.
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.
Interactive Whiteboard Interactive Whiteboard Market Drivers, Restraints, Trends, and Opportunities
- Rising replacement of outdated instructor-based training programs and the acceptance of interactive whiteboards by corporations or organizations are likely to fuel the market growth.
- Growing implementation of virtual learning or e-learning system particularly in developing countries is expected to bolster market growth.
- Increasing popularity of IWBs in the commercial sector along with large investments by medium and small enterprises in technical progressions are rojected to drive the market during the forecast period.
- Rising acceptance of e-learning courses and virtual classrooms around the world is projected to expand the demand for interactive whiteboards.
- Lack of technical knowledge, high integration cost, and complex operation are key factors restraining the market growth.
- Ongoing research and development by the key players of the market are presenting numerous opportunities for the expansion of the market.
Scope of Interactive Whiteboard Market Report
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.
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Attributes
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Details
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Report Title
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Interactive Whiteboard Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast
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Base Year
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2022
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Historic Data
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2016–2021
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Forecast Period
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2023–2031
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Segmentation
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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)
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Regional Scope
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Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered
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Microsoft Corporation, BenQ Corporation; Cisco Systems, Inc.; Boxlight Corporation; and Google Inc.
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Interactive Whiteboard Market Segment Insights
Technology Segment Analysis
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 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.
Form Factors Segment Analysis
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.
Projection Techniques Segment Analysis
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 from 2021 to 2028. The interactive whiteboards with front projection technique are designed with video projectors.
Applications Segment Analysis
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 the wide adoption of technology in educational institutes, which enables to production of customized learning items and actual visual experiences to students. In 2019, the corporate segment held more than 15.0% of the global market share.
Interactive whiteboards are acquiring a grip within the corporate sector as experts in corporate meetings use whiteboards to impart planning, designing, and several other developing stages of a product.
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 the 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.
Regional Analysis
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 more than 35% of the global market share in 2019.
The market in the 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.
Segments
Technology
- Capacitive
- Electromagnetic Pen
- Infrared
- Resistive Membrane
Form Factors
Projection Techniques
- Front Projection
- Rear Projection
Applications
- Education
- Commercial
- Corporate
Regions
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
Competitive Landscape
Major players competing in the global interactive whiteboard market share 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.
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