According to a report available on Radiant Insights, Inc.; the worldwide interactive whiteboard (IWB) market is anticipated to reach USD 76 million by 2022. High implementation of e-learning and digital classroom solutions and rising trend of gamification in education and corporate sectors are projected to drive the global market. Rising funding from various governments to encourage the use of the product in different end-user sectors can further propel the market over the forecast period (2018 to 2022).
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Integration of artificial intelligence (AI) and cloud storage in interactive whiteboards is expected to boost the market. The IWB systems can be employed to deliver content in classrooms, training rooms, corporate board rooms, broadcasting studios, and specialized sports coaching. Versatile applications of the products can further fuel the market expansion over the forecast period. Rising investment in the education sector is one of the crucial factors for the development of the IWB market.
Increasing use of modern and virtual learning initiatives in education sector is anticipated to support the growth of the market for interactive whiteboards in the forthcoming years. Implementation od the technology has improved the collaboration and interaction among the students. Various universities and schools are emphasizing on implementation of modern learning methods to provide better learning experience to students. This factor is likely to create high demand for these systems.
In addition, upward trend of virtual learning and e-learning can further boost the demand for interactive whiteboards as it enables easy content development and integration facility. However, high costs, low consumer awareness, and use of other technologies like tablets and interactive flat panels is likely to hinder the market growth. Nevertheless, these boards are extensively adopted in classroom environments and are considered as one of the most successful technologies for education sector as they allow users to write or draw on surfaces, save or distribute documents across the networks, and print images.
Interactive whiteboards support various file formats such as PDFs, PPTs, and HTML images. This can be useful for corporate seminars, presentations, mailing copies, and website postings. This factor is anticipated to positively influence the growth of the market over the forecast period. In a recent development in the market, Samsung India launched an interactive digital whiteboard called Samsung Flip. It enables sharing, annotation, movement, and searching.
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The worldwide interactive whiteboard market can be segmented on the basis of product, end-user, and regions. As per product, the market can be split into package products and stand-alone. Based on end-user, the market can be categorized into education sector and corporate sector. Geographically, the market can be divided into Americas, Asia Pacific, and Europe, Middle East & Africa (EMEA).
North America is considered as one of the largest markets due to high product adoption in education and corporate sectors. Asia Pacific is likely to display the fastest growth over the projected period. Factors like a large number of school going children can boost the adoption in near future. The region has potential to create high growth opportunities with extensive adoption of digital classroom.
Increasing government expenditure and existence of leading companies in Asia Pacific is likely to create growth opportunities for the regional interactive whiteboard market. Increasing e-learning initiatives by governments in emerging countries like India is expected to spur the demand for these boards. In addition, countries such as Japan and China are anticipated to further support the market growth in the coming years.
Key players operating in the interactive whiteboard market include Smart Technologies (Foxconn), Hitachi, PROMETHEAN.
Explore Other Reports By Radiant Insights,Inc at
• Gamification Market in Corporate Training Sector– https://www.radiantinsights.com/research/global-gamification-market-in-corporate-training-sector-2018-2022
• Compliance Training Market for Financial Institutions in the US– https://www.radiantinsights.com/research/compliance-training-market-for-financial-institutions-in-the-us-2018-2022
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