Interactive Whiteboard Industry Overview
The global interactive whiteboard market size was valued at USD 1.6 billion in 2019, growing at a CAGR of 7.6% from 2020 to 2027.
Rising adoption of advanced learning methods is one of the key factors positively affecting the interactive whiteboard (IWB) usage. Additionally, demand for gamification and digital classrooms, coupled with the increasing popularity of interactive whiteboard with artificial intelligence is further anticipated to drive the market. Interactive whiteboards provide an adaptive, engaging, and user-friendly learning experience and are therefore gaining popularity among various sectors such as government, corporate, and education.
Digital learning has transformed conventional classroom teaching. The emergence of virtual classrooms and e-learning courses has resulted in an increase in the demand for interactive whiteboards in the global market. The e-learning industry has witnessed significant growth over the last decade. This growth can be attributed to the rapid evolution of digitization, communication, and other technological advancements that are cost-effective and are easily available for a wider audience. Furthermore, significant investments in Information and Learning Technology (ILT) infrastructure in colleges, development of digital content and mobile learning applications, and national training initiatives has transformed traditional chalk and board learning and teaching methods.
Gather more insights about the market drivers, restrains and growth of the Global Interactive Whiteboard Market
Furthermore, the growing trend of gamification in education is expected to drive the market for interactive whiteboard over the forecast period. IWBs are being increasingly used in the education sector as they aid teachers in demonstrating concepts using enhanced visualization with the use of images and graphics sourced from the internet.
Various government initiatives aimed at the transformation of traditional chalk blackboard classrooms to digital ones coupled with the increasing significance of virtual learning and e-learning environments are expected to be some of the major trends associated with the IWB market. For instance, in January 2018, the central and state Governments of India together announced to provide digital operation board in various government schools across the country to enhance the quality of education and empower students with exciting learning and 360-degree information experience.
Organizations need to offer adequate training to their employees. These training and development activities incur significant costs whether conducted through online platforms or in classroom environments. Thus, the replacement of traditional instructor-based training programs with e-learning solutions coupled with the adoption of interactive whiteboards by companies or organizations can potentially save up to 50% in training costs and up to 60% in terms of training time. Therefore, the popularity of IWBs in the corporate sector together with substantial investments by small and medium enterprises in technological advancements are also anticipated to propel the demand for interactive whiteboard (IWB) market over the forecast period.
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Interactive Whiteboard Market Segmentation
Grand View Research has segmented the global interactive whiteboard market based on technology, form factor, projection technique, application, and region:
- Interactive Whiteboard Technology Outlook (Revenue, USD Million, 2016 - 2027)
- Resistive Membrane
- Electromagnetic Pen
- Interactive Whiteboard Form Factor Outlook (Revenue, USD Million, 2016 - 2027)
- Interactive Whiteboard Projection Technique Outlook (Revenue, USD Million, 2016 - 2027)
- Front Projection
- Rear Projection
- Interactive Whiteboard Application Outlook (Revenue, USD Million, 2016 - 2027)
- Interactive Whiteboard Regional Outlook (Revenue, USD Million, 2016 - 2027)
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
Market Share Insights
- September 2018: Boxlight Corporation announced the acquisition of EOSEDU, LLC. EOSEDU, LLC is engaged in providing consulting for the K-12 education market. Through this acquisition, Boxlight Corporation expects to increase its profit margin and also aims to provide a comprehensive suite in the education technology market.
- May 2017: Panasonic Corporation introduced two touchscreen interactive displays, 4K direct with a 75-inch LED panel and a full HD direct-LED with a 65-inch panel, with a view to making whiteboard digital communication more affordable.
Key Companies profiled:
Some prominent players in the global interactive whiteboard market include
- BenQ Corporation
- Boxlight Corporation
- Cisco Systems, Inc.
- Google Inc.
- Microsoft Corporation.
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Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.