Allied Market Research published a report on 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) market 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%.
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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.
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Competitive Analysis:
The company profile section of the interactive whiteboard market report covers strategic developments, business overview, product offerings, and financial performance of the companies. It also highlights the strategies adopted by companies such as products launch, agreements, partnerships, acquisitions mergers, collaborations, joint ventures, research & development investment, and regional expansion in the past few years.
Some of the major key players of the global interactive whiteboard market 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
- Viewsonic Corporation
The key players of the market focus on introducing technologically advanced products to remain competitive in the market. Product launch are expected to be the prominent strategies adopted by market players. North America accounted for a major share of the market in 2020, owing to the presence of major players in the region.
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.
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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.
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