The leading players in the global interactive whiteboard (IWB) market include Seiko Epson Corporation, Samsung Electronics Co. Ltd., LG Electronics Inc., Hitachi Ltd., Smart Technologies Inc., Sharp Corporation, Promethean Limited, Panasonic Corporation, Mimio Inc., and Julong Educational Technology Co. Ltd. The leading players in the global interactive whiteboard market, such as Smart Technologies Inc. and Promethean Ltd., have a widespread global presence and produce multiple types of interactive whiteboards. Most players in the interactive whiteboard market are likely to attempt regional expansion in the coming years through either overseas operations or acquisitions.
According to Transparency Market Research (TMR), the annual revenue of the global interactive whiteboard market was valued at US$1.15 bn in 2015. Exhibiting a CAGR of -8.7% from 2016 to 2024, the market’s revenue is expected to drop to US$526.8 mn by the end of 2024.
Resistive Membrane Interactive Whiteboards to Remain Key Revenue Generator
The key product segments of the interactive whiteboard market are electromagnetic IWB, infrared IWB, laser scanner IWB, ultrasonic IWB, and resistive membrane IWB. Of these, resistive membrane interactive whiteboards held a dominant 50% share in the global market in 2015. The resistive membrane IWB segment accounted for revenue of US$566.6 mn in 2015, but is expected to fall to close to a third of the value by 2024.
By size, medium-sized interactive whiteboards accounted for a dominant share in the global market in 2015. The segment’s total annual revenue was more than US$800 mn in 2015, but is expected to drop to US$365.5 mn by the end of 2024.
Geographically, Asia Pacific is the leading contributor to the global interactive whiteboard market. It is likely to retain its dominance through the 2016-2024 forecast period despite a 25% reduction in its annual revenue. The Asia Pacific interactive whiteboard market is expected to be worth US$313.9 mn by the end of 2024.
Increasing Demand from Education Sector Vital for Interactive Whiteboard Market
The prime driver for the global interactive whiteboard market is the rising adoption of advanced technology in the education sector. Emerging countries such as India, Turkey, and New Zealand, among others, have witnessed a rising government support to the education sector in recent years. This has helped drive the use of advanced solutions in order to improve the classroom experience for the students, which has led to a rising demand for interactive whiteboards. This is likely to remain a key driver for the global interactive whiteboard market in the coming years, as the steady rise of the economy in emerging regions has allowed for the use of progressively advanced technologies.
While the education sector is likely to remain the leading contributor to the global interactive whiteboard market in the coming years, the rising demand from the corporate sector is another leading driver for the interactive whiteboard market. The utility of interactive whiteboards is the same in the corporate sector as in the education sector, as they help enhance communication in meetings and presentations.
On the other hand, the decline of the interactive whiteboard market has been brought about mainly by the rising preference for alternative technologies such as interactive flat panels. Since using a multitude of conventional technologies to achieve the same function is significantly cheaper, the inconveniences of the same are often tolerated by smaller end users. This has consistently been a key restraint on the interactive whiteboard market and, despite the rising government support, is likely to hamper the interactive whiteboard market’s performance in the coming years.
The information in this preview comes from a Transparency Market Research report titled ‘Interactive Whiteboard Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 - 2024.’
The global interactive whiteboard market is segmented as follows:
- Resistive Membrane
- Laser Scanner
By End-use Adoption
- North America
- Latin America
- Asia Pacific
- Middle East and Africa
Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants, use proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.
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