PUNE, India, March 5, 2018 /PRNewswire/ --
According to the new market research report "Interactive Whiteboard Market by Screen Size (Up to 69", 70"-90", Above 90"), Technology (Infrared, Resistive, Capacitive, Electromagnetic), End User (Education, Corporate, and Government), and Geography - Global Forecast to 2023", published by MarketsandMarkets™, the market is estimated to grow from USD 4.31 Billion in 2018 to USD 5.16 Billion by 2023, at a CAGR of 3.69% between 2018 and 2023. The trend of gamification in education and corporate sectors, adoption of e-learning and digital classroom solutions, and increased funding from different governments to incorporate IWBs for various end users are the major driving factors for market growth.
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Interactive whiteboards having a screen size between 70" and 90" is expected to hold a larger share of the interactive whiteboard market by 2023
IWBs with a display screen size ranging from 70-90" are expected to lead the IWB market, in terms of size, between 2018 and 2023. The demand for IWBs with a display screen size ranging from 70" to 90" is largely driven by educational institutes and government and corporate offices wherein they are essentially used to conduct training sessions and business meetings. Classroom teaching usually involves a group of students (an average of 30 students in a class), and IWBs with a screen size of 70-90" are found to be the most suitable to make the content (notes from the teacher or content from a textbook) visible to the entire class.
Infrared technology is expected to hold the largest share of the interactive whiteboard market by 2023
IWBs based on infrared technology are durable and easier to operate compared to capacitive or resistive technologies. Another major driver for the growing adoption of infrared technology is the widespread use of Digital Vision Touch (DViT) technology. DViT technology uses infrared technology as a base and adds multi-touch features to IWBs. Infrared IWBs are mainly installed in classrooms, corporate boardrooms, and training or activity rooms in organizations.
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Education sector is expected to hold the largest share of the interactive whiteboard market by 2023
The increasing demand for e-learning and interactive learning solutions is a major factor driving the growth of the IWB market globally. Hence, governments across regions are increasingly funding interactive learning models for schools to promote the interactive learning method. Also, the frequent adoption of new technologies in designing IWBs and introduction of e-learning solutions are other major factors driving the demand for interactive whiteboards in the education sector.
APAC expected to hold the largest share of the interactive whiteboard market by 2023
APAC is expected to be the fastest-growing market for interactive whiteboards during the forecast period. The interactive whiteboard market has enormous growth potential in APAC, and this product is likely to be accepted by consumers as an integral part of a digitalized classroom. The high growth can be attributed to the increased investments by the government in the education sector and the presence of some key manufacturers such as Samsung, LG Display, Sharp Corporation, and Panasonic in the APAC region.
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Some major companies in the IWB market include Foxconn (Taiwan), Hitachi (Japan), Samsung Display (South Korea), LG Display (South Korea), Panasonic (Japan), NEC (Japan), Ricoh (Japan), Google (US), Cisco (US), Microsoft (US).
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