The global interactive whiteboard (IWB) market appears to be fragmented in terms of competition, states Transparency Market Research (TMR). A number of market players are increasingly offering innovative products, along with the adoption of strategies such as mergers, acquisitions, partnerships, and collaborations to extend their presence worldwide.
For instance, in February 2016, kapp IQ whiteboard, featuring an increased panel size, was launched by SMART Technologies Inc. Earlier during the same year, the company entered into a strategic partnership with Samsung Electronics America, Inc. with the objective of catering to the needs of educational institutions and increasing student engagement. Along the same lines, in February 2015, a touch-panel handwriting input system for interactive whiteboards was launched by Sharp Corporation.
The global market for interactive whiteboard was valued at US$1.14 bn in 2015 and is expected to achieve a revenue worth US$0.52 bn by the end of 2024, expanding at a CAGR of -8.7% during the forecast period, according to the findings of TMR. By end user, the education sector emerged as the dominant segment during 2015. The medium sized interactive whiteboards segment held a major share in the global market in the same year.
Asia Pacific, MEA Bear Most Potential for Expansion
Asia Pacific held a dominant share in the global market for interactive whiteboard in 2015. Analysts suggest that this region is likely to retain its foremost position during the forecast period. The interactive whiteboard market in Asia Pacific is primarily driven by heavy investments in the educational domain. As a majority of the school-going population of the world resides in countries such as China and India, Asia Pacific holds all the aces for further expansion
The types of interactive whiteboards studied in the report include infrared, laser scanner, resistive membrane, electromagnetic, and ultrasonic. Of these, the resistive membrane segment, by virtue of its relatively lesser cost and high accuracy, has secured the headmost position in 2015. It might retain its position over the forecast period as well.
Government Initiatives, Funds in Emerging Markets to Boost Adoption
As the population over the globe rises rapidly, the educational needs of the people will also soar. Government initiatives are encouraging the adoption of technologies such as interactive whiteboards within the education sector, contributing towards the growth of the global market. For instance, in 2014, interactive whiteboards were increasingly being adopted under the Investing in Education Success (IES) project of the New Zealand government. Turkey and India have also been granting a large volume of funds to the educational sector, attracting students from all over the globe.
Moreover, as e-learning and distance learning are increasingly witnessing greater student enrollments, the market is likely to grow further. The use of interactive whiteboard, with its easy integration, sharing capacities, multimedia content, and larger displays, has enhanced the experience of teachers and students. The growing demand for whiteboards across the corporate sector for use during meetings, training sessions, presentations, and conferences has also ensured growing demand.
On the other hand, the towering popularity of smartphones, tablets, and laptops might restrict the growth of the market. These substitute technologies are relatively cheaper and portable. Moreover, the novel interactive flat panels that do not need projectors are likely to impede the expansion of the market. Flat panels have advantages such as longer lifespan, lower costs of maintenance, and easy connectivity.
The information presented in this review is based on a Transparency Market Research report, titled, “Interactive Whiteboard (IWB) Market (Type - Resistive Membrane, Electromagnetic, Infrared, Ultrasonic, and Laser Scanner; End Use - Education, Corporate, and Government; Size - Small, Medium-sized, and Large) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 - 2024”.
Key segments of the Global Interactive Whiteboard Market
Interactive Whiteboard Market, By Type
- Resistive Membrane
- Laser Scanner
Interactive Whiteboard Market, By End-use Adoption
Interactive Whiteboard Market, By Size
Interactive Whiteboard Market, By Geography
- North America
- Latin America
- Asia Pacific
- Middle East and Africa
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