The interactive
whiteboard (IWB) market is estimated to grow from USD 4.31 Billion in 2018
to USD 5.16 Billion by 2023, at a CAGR of 3.69% between 2018 and 2023. The
trend of gamification in education and corporate sectors, adoption of
e-learning and digital classroom solutions, and increased funding from
different governments to incorporate IWBs for various end users are the major
driving factors for market growth.
Interactive
Whiteboard Market by end user, the education sector is expected to grow at the
highest growth rate during the forecast period.
The
education sector is expected to lead the IWB market from 2018 to 2023. The
increasing demand for e-learning and interactive learning is a major factor
driving the growth of the IWB market globally. Hence, governments across
regions are increasingly funding interactive learning models for schools to
promote the interactive learning method. According to CBCI Telecom, a
technology company, IWBs help create visual memories, which are retained for a
longer time by the human brain compared to reading text. Research and survey
studies have shown that people learn faster when the learning is interactive
and two-way. All these factors have contributed toward the increasing adoption
IWBs in the education sector.
Interactive
Whiteboard Market by screen size, IWBs with screen sizes ranging from 70”–90”
hold the largest share of the total market
IWBs
with screen sizes ranging from 70”–90” is expected to hold the largest share of
the total market. The demand for IWBs with a display screen size ranging
70”–90” is largely driven by educational institutes and government and
corporate offices where they are essentially used in training sessions and
business meetings. Classroom teaching usually involves a group of students (an
average of 30 students in a class), and IWBs with a screen size of 70”–90” are
found to be the most suitable to make the content (notes from the teacher or
content from a textbook) visible to the entire class.
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North
America to account for the largest market size during the forecast period.
North
America is expected to hold the largest market size in the interactive
whiteboard market during the forecast period. There has been significant
adoption of various touch technology based-IWBs in North America, particularly
in the US education, corporate, and government sectors. Also, some of the major
IWB manufacturing companies such as Cisco, Google, Egan Teamboard, Smart
Technologies, and Qomo are headquartered in the US. The market in APAC is
expected to grow at the highest CAGR of 7.79% during the forecast period. This
growth can be attributed to the presence of two industry-leading IWB manufacturers,
Samsung and LG Display, in the region. Government initiatives were undertaken
to promote interactive education is another factor driving the market for IWBs
in Asia Pacific during the forecast period. Some of the major companies in the
IWB market include Hon Hai Precision Industry Co., Ltd. (Foxconn) (Taiwan),
Hitachi, Ltd. (Hitachi) (Japan), Samsung Display Co., Ltd. (Samsung) (South
Korea), LG Display Co., Ltd. (LG Display) (South Korea), Panasonic Corporation
(Panasonic) (Japan), NEC Display (NEC) (Japan), Ricoh Company (Ricoh) (Japan),
Google LLC (Google) (US), Cisco Systems, Inc. (Cisco) (US), Microsoft
Corporation (Microsoft) (US).
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