NEW YORK, Aug. 13, 2018 (GLOBE NEWSWIRE) -- The global traditional whiteboard market is expected to witness a CAGR of 3.1%, and is projected to reach USD 3,026.8 Million by 2023. Factors propelling the growth of the market include rapid urbanization and coupled with upgrading and expanding education infrastructure in emerging economies and rising awareness towards health.
The report segments the traditional whiteboard market by Application (Schools, Offices, Family and Others), by Surface Material (Porcelain, Glass, Melamine, Ceramic Steel and Others), by Type (Mountable and Portable), by Size (3’ x 2’, 4’ x 3’, 6’ x 4’, 8’ x 4’, 12’ x 4’, 1’ x 1’, 4’ x 4’ and 2’ x 1.5’), by Region (North America, Europe, Asia-Pacific, South America, and Middle East and Africa (MEA)). The report studies the global traditional whiteboard market over the forecast period (2017-2023).
Traditional whiteboard gained its popularity and its demand rapidly expanded in mid-1990s as an application in school classrooms, offices, and industrial sites. The largest demand of traditional whiteboard came from schools. The school application was valued at USD 1,550.0 Million, in 2016.
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Key Findings of the Global Traditional Whiteboard Market
- On the basis of application, schools held the major share of the global market in terms of value and volume, in 2016 and is anticipated to sustain its dominance throughout the forecast period
- Offices, another application of traditional whiteboard is anticipated to be the fastest growing application of market and is anticipated to register the highest CAGR, during the forecast period in terms of both value and volume
- On the basis of surface material, porcelain held the largest share of the market in 2016, and is expected to hold its position over the forecast period
- On the basis of type, mountable whiteboard held the larger share in 2016, and is anticipated to continue holding the larger share, throughout the forecast period
- The key players in the traditional whiteboard market includes Metroplan, Quartet, GMi Companies, Neoplex, Bi-silque, Luxor, Umajirushi, Aywon, Canadian Blackboard, Lanbeisite, Zhengzhou Aucs, Foshan Yakudo, Hubei-An Technology, Shandong Fangyuan, among others
Traditional Whiteboard- Regional Insight
Asia-Pacific held the major share of the market in 2016 and is anticipated to dominate the market over the forecast period. The growth of the market in this region is driven by improving lifestyle coupled with expanding educational infrastructure in countries including China and India. The school segment accounted for the largest share of Asia-Pacific market in 2016 and is expected to dominate the market throughout the forecast period.
North America was the second largest market, holding a share of over 22 % in 2016. The region is anticipated to experience sluggish market growth during the forecast period on account of technological advancements and increasing adoption of interactive whiteboards in the region.
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