The global interactive whiteboard market is growing rapidly. The digital transformation in the education sector has taken a big leap since the COVID-19 outbreak, causing a paradigm shift in the way technology is used to accelerate learning in innovative and interactive ways. Interactive whiteboards have transformed not only the education system but also the teaching and learning experience.
These internet-connected computer screens have replaced the old wipe-clean boards, allowing teachers to review videos, show problems, and work on tasks in class. Resultantly, interactive whiteboards have become commonplace in classrooms around the world. In the pandemic era, investors are increasingly looking for educational technology opportunities as distance learning has become mainstream.
Simultaneously, educators are keen on the potential to boost learning worldwide, which increases the market demand significantly. Besides, advances in AI and machine learning are transforming smart whiteboard's capabilities to communicate and collaborate with humans. With continuous technology progression, the market is projected to witness a substantial increase in revenues during the upcoming period.
In this regard, Market Research Future (MRFR) asserts that the interactive whiteboard market is projected to garner a significant rise by 2027, growing at an impressive CAGR during the review period (2020 – 2027). Moreover, increasing automation in the education sector escalates market growth.
Global Interactive Whiteboard Market - Segmentation
The report is segmented into types, technology, screen sizes, end-users, and regions. The type segment sub-segmented into interactive ceramic boards, IR Boards, and EM Boards. The technology segment sub-segmented into infrared, resistive membrane, ultrasonic, electromagnetic, and laser scanner.
The screen size segment sub-segmented into Up to 69", 70" to 90" and above 90". The end-users segment sub-segmented into education, corporate, government, and others. The education segment sub-segmented into Pre-K-12, higher education, and others. The region segment sub-segmented into North America, Europe, Asia Pacific, and Rest-of-the-World.
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Global Interactive Whiteboard Market - Regional Analysis
North America dominates the global interactive whiteboard market. The increasing demand for interactive whiteboards in the education and corporate sectors in the region drives market growth. Besides, the vast adoption of the internet and smart connected devices, including tablets and mobiles, create substantial market opportunities.
With the presence of many established key players such as Cisco, Google, and Microsoft, the US and Canada lead the interactive whiteboard market in this region. The proliferation of social media platforms and technological advancements in the region drive the growth of the market. Moreover, the sturdy research and development scenario accelerates the interactive whiteboard industry growth in North America.
The Asia Pacific region stands second in the global interactive whiteboard market. The market is driven by the escalating adoption of interactive whiteboards in the region. Additionally, enormous spending on research and development activities, AI, machine learning, and cognitive technologies increase the interactive whiteboard market size.
Furthermore, substantial technological advances and the increasing demand for interactive whiteboards from the education industry drive the market's growth. Rapidly developing APAC countries such as India and China hold a sizable share in the regional market due to the increasing investments for training in commercial and corporate activities.
The European interactive whiteboard market has emerged as a promising market globally. European countries are initiating, transforming online education regulations, driving the regional market growth. Due to well-established economies in the region, the market is likely to show immense growth in the coming future. Moreover, increasing RD activities and rapid economic growth, increased RD activities, and the demand from the education and commercial sectors push the regional market growth.
Global Interactive Whiteboard Market - Competitive Analysis
Highly competitive, the interactive whiteboard market appears to be fragmented due to the presence of several well-established interactive whiteboard manufacturers. These players incorporate strategic initiatives such as acquisition, collaboration, partnership, expansion, and product/ technology launch to maintain their positions and gain a competitive advantage in this market.
Players leading the interactive whiteboard market are Hitachi, Ltd. (Japan), Hon Hai Precision Industry Co., Ltd. (Taiwan), Samsung Group (South Korea), Panasonic Corporation (Japan), LG Electronics Inc. (South Korea), NEC Corporation (Japan), Google LLC (US), The Ricoh Company, Ltd. (Japan), Cisco System, Inc. (US), Microsoft Corporation (US), and Smart Technologies Corporation (US), among others.