According to a new report published by Allied Market Research, titled, “Interactive Whiteboard (IWB) market by offering, form factor, screen size, technology, and end user: global opportunity analysis and industry forecast, 2021–2030,” the global Interactive Whiteboard (IWB) industry size was valued at $4.29 billion in 2020, and is projected to reach $7.35 billion by 2030, registering a CAGR of 6.0%. Asia-Pacific is expected to be the leading contributor to the global market during the forecast period, followed by LAMEA and Europe.
An Interactive Whiteboard (IWB) is an independent touchscreen computer utilized freely to perform operations and tasks via pen or finger. These devices are used at various places such as corporate board rooms, educational institutions, seminars, and in communicating studios. However, many companies such as intech IWB software provides user more options & greater flexibility to create effective lesson and improve student’s knowledge by providing multi-touch, gesture recognition, remote class, split screen, and multi-language features. Also, the use of portable IWB (Interactive Whiteboard) is in the latest trend.
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The global Interactive Whiteboard (IWB) market size is anticipated to witness significant growth during the forecast period. Factors such as emergence of virtual classrooms & e-learning courses, government initiatives for digital education, and transformation of traditional whiteboard into digital whiteboard drive the Interactive Whiteboard (IWB) market growth. In addition, growth in digitalization & high adoption of electronics products boost the overall market growth. However, lack of technical knowledge and high integration cost is a major restraint for the global Interactive Whiteboard (IWB) industry. In addition, growth in the educational sector in Asia-Pacific is expected to create lucrative opportunities for the Interactive Whiteboard (IWB) industry.
Moreover, developing nations tend to witness high penetration of Interactive Whiteboard (IWB) products, especially in education sector. Factors such as adoption of advanced learning methods and rise in demand for gamification & digital classrooms also propels the market growth.
The global Interactive Whiteboard (IWB) market share is segmented into offering, form factor, screen size, technology, end user, and region. By offering, the market is segmented into Hardware, and Software. By Form Factor, the market is segmented into Fixed, and Portable. On the basis of Screen Size, the market is classified into Less than 50 Inch, 50 Inch to 70 Inch, 71 Inch to 90 inch, and Greater than 90 Inch. By technology, market is divided into Infrared, Resistive, Capacitive, Electromagnetic, and Others. By End user, market is segmented into Education, Healthcare, Retail, Corporate, and Others.
Region wise, the Interactive Whiteboard (IWB) market trends have been analyzed across North America, Europe, Asia-Pacific, and LAMEA. North America contributed maximum revenue in 2020. However, between 2021 and 2030, the market in Asia-Pacific is expected to grow at a faster rate as compared to other regions. This is attributed to increase in demand from emerging economical countries such as India, China, Japan, and South Korea. The overall Interactive Whiteboard (IWB) market analysis is determined to understand the profitable trends to gain a stronger foothold.
COVID-19 IMPACT ANALYSIS
COVID-19 has significantly affected the electronic and semiconductor sector. Business and manufacturing units across various countries were closed, owing to increase in number of COVID-19 cases and are estimated to remain closed in 2021. Furthermore, partial or complete lockdown has disrupted global supply chain posing challenges for manufactures to reach customers. The overall production process being adversely affected, however, surge in sales in digital educational products, boost the overall Interactive Whiteboard (IWB) market growth globally.
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KEY FINDINGS OF THE STUDY
- The education segment is projected to be the major application during the forecast period followed by corporate. Rise in adoption of smart & touch-based devices is anticipated to drive demand in the future.
- Asia-Pacific and North America collectively accounted for more than 56% of the Interactive Whiteboard (IWB) market share in 2020.
- India is anticipated to witness highest growth rate during the forecast period.
- U.S. was the major shareholder in the North America Interactive Whiteboard (IWB) market, accounting for approximately 53% share in 2020.
The key players profiled in the report include Hitachi, Horizon Display Inc., LG Electronics, Microsoft Corporation, Planar Systems (Leyard Optoelectronic), Ricoh, Samsung Electronics Co. Ltd., Seiko Epson Corporation, Sharp NEC Display Solutions of America, Inc., and Viewsonic Corporation. These players have adopted various strategies such as acquisition, and product launch to expand their foothold in the interactive whiteboard (IWB) industry.
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