London, United Kingdom, May 09, 2023 (GLOBE NEWSWIRE) -- According to a comprehensive research report by Market Research Future (MRFR), “Interactive Whiteboard Market Research Report: By Type, Technology, Screen Size, and Region - Forecast Till 2030, the market is anticipated to acquire a valuation of approximately USD 8 billion by the end of 2030. The reports further predict the market to flourish at a robust CAGR of over 7% during the assessment timeframe.
Interactive Whiteboard Market Key Players
Eminent market players profiled in the interactive white board market report include
- Hon Hai Precision Industry Co., Ltd.
- Hitachi, Ltd.
- Samsung Group
- LG Electronics Inc.
- Panasonic Corporation
- DTEN
- The Ricoh Company, Ltd.
- Google LLC
- Cisco System, Inc.
- Smart Technologies Corporation
- Microsoft Corporation.
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Interactive Whiteboard Market Report Scope:
| Report Metric | Details |
| Revenue forecast in 2030 | USD 08 Billion |
| Growth Rate | CAGR of 7.00% from 2023 to 2030 |
| Base Year | 2022 |
| Study Period | 2023-2030 |
| Key Market Opportunities | The growth of the interactive whiteboard market in North America is attributed to the increasing demand for the interactive whiteboard in the education sector |
| Key Market Drivers | The growing demand for digital classrooms |
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Interactive Whiteboard Market Drivers
Growing Education Gamification Trend to Boost Market Growth
Gamification of schooling is a growing trend that will likely drive industry expansion. Thanks to gamification, students can study their subjects at the time of playing educational games. By fostering innovation, creativity, and more student participation, it transforms education. By incorporating lessons into games, gamification enhances the lecture delivery format.
Interactive Whiteboard Market Opportunities
Integration of AI in Interactive White Board to offer Robust Opportunities
Artificial intelligence is a technology having a lot of potential in the IWB industry. Interactive whiteboards with AI capabilities make it easier to take notes during lectures, translate speeches into different languages, and include remote users in meetings and classes. Because of this, some businesses are focusing on incorporating AI into IWBs for boosting user demand for IWB.
Restraints and Challenges
High Integration Cost to act as Market Restraint
The high integration cost, constant technological advances, and dearth of technical knowledge may act as market restraints over the forecast period.
Interactive Whiteboard Market Segmentation
The global interactive white board market is bifurcated based on education, end users, screen size, technology, and type.
By type, the market is bifurcated into EM Boards, IR Boards, and Ceramic Boards.
By technology, resistive membrane will lead the market over the forecast period.
By screen size, the 70”-90” will domineer the market over the forecast period.
By end users, education will spearhead the market over the forecast period.
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COVID-19 Analysis
The COVID-19 epidemic has possessed a significant impact on various industries, including the interactive whiteboard market. As more and more schools and businesses have shifted to remote or hybrid learning/work models, the demand for interactive whiteboards has changed. On one hand, the pandemic has created a greater need for remote collaboration and distance learning, which has led to a surge in need for interactive whiteboards. Many schools and businesses have had to invest in digital tools to facilitate remote learning and working, and interactive whiteboards can be a valuable tool for virtual meetings and online classes. On the other hand, the pandemic has also caused economic uncertainty and budget constraints for many institutions. As a result, some schools and businesses may be hesitant to invest in expensive interactive whiteboard systems. Additionally, the supply chain disruptions and manufacturing slowdowns caused by the pandemic may lead to higher prices or delays in the delivery of interactive whiteboards.
Interactive Whiteboard Market Regional Analysis
APAC to Head Interactive White Board Market
The interactive white board (IWB) market is predicted to grow profitably in the Asia-Pacific region. With more schools and institutions being created, the Asia-Pacific region's education sector is expanding quickly. Because they offer pupils a dynamic and interesting learning environment, interactive whiteboards are becoming increasingly popular. The adoption of technology is very strong in the Asia-Pacific area, and this tendency is also visible in the field of education. Due to the more interactive and engaging learning environment they offer, interactive whiteboards are in fact becoming more and more common in schools. Over the projected period, the Asia Pacific will grow at the quickest pace, with a CAGR of 10.1%. Over the last 10 years, this region has observed significant increase in the usage of student information systems & e-learning solutions for their widespread adoption in middle & high schools, lower-tier colleges, and middle and high schools. For instance, to provide education to every child through Information and Communication Technology (ICT), the Japanese government developed the Global Innovation Gateway for All (GIGA). The program has ICT support personnel who teach programming sessions in conjunction with IT firms. Additionally, by putting kids in close contact with outside experts through web conferencing, digital tools aid in children's learning. The regional market would continue to expand as a result of these developments. Asia Pacific will experience the fastest growth in the market during the timeframe of the projection. The need for interactive whiteboards within the area has increased as a result of government-funded e-learning initiatives in nations like Japan and India. The success of the region's economy is aided by the presence of renowned corporations like Sharp Technology, Panasonic, and Samsung Electronics.
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North America to Have Admirable Growth in Interactive White Board Market
The Interactive Whiteboard market will have an admirable growth in North America. There is a strong need for interactive whiteboards in the region due to the well-established education industry and high rates of technology use in the classroom. The expansion of the market within the area is also being aided by the presence of numerous top companies in the industry. The need for Interactive Whiteboards in these regions is driven by a growing education sector and an increase in the use of technology in the classroom, and the market is anticipated to expand over the next few years. Overall, the market for interactive whiteboards will expand steadily due to the rising need for interactive and interesting presenting tools in business and educational settings. Additionally, the North American Interactive Whiteboard market in the United States had the biggest market share while the market in Canada had the quickest rate of expansion. Due to the growing need for interactive whiteboards outfitted with cutting-edge technologies, the North American market held the greatest revenue share in 2021. Artificial Intelligence (AI)-enabled interactive whiteboards are a helpful technological innovation. Because of the accelerating pace of technical breakthroughs to provide a variety of new product features, businesses prioritize innovation. Additionally, numerous companies work to incorporate contemporary technologies into conventional whiteboards to improve their usability. As a result, several businesses are focusing on integrating AI into IWBs for boosting consumer demand.
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