Interactive Whiteboard Market to Reach US$526.8 mn by 2024 Powered by Demand from Education Sector - TMR

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Oct 04, 2018, 08:00 ET

ALBANY, New York, October 4, 2018 /PRNewswire/ --

Players that have come to hold a prominent position in the global interactive whiteboard market are Promethean Limited, Smart Technologies Inc., Hitachi, Ltd., Seiko Epson Corporation, Sharp Corporation, and Samsung Electronics Co. With the interactive learning space still evolving, these players along with their other nimble counterparts are seen focusing on product development by banking upon latest technologies.

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A report on the global interactive whiteboard (IWB) market finds that it would rise at a healthy 8.7% CAGR from 2016 to 2024. At this pace, the market is predicted to hit US$526.8 mn by the end of 2024. The market was worth US$1.21 bn in 2015.

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The various types of IWB available in the global interactive whiteboard market are electromagnetic, resistive membrane, ultrasonic, infrared, and laser scanner. Among those, the resistive membrane IWBs accounted for a substantial 50.0% share in the market in 2015. The product segment has been grossing most of the revenue. From a geographical standpoint, the global interactive whiteboard market is currently being led by Asia Pacific owing to the high population of school children in the region. Going forward too, the regional segment is predicted to play a pivotal role in the market.

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Product Innovation and Demand from Education Sector Propels Market

Being still in its early stages, the global interactive whiteboard market is characterized by swift technological innovation and frequent launch of new products. This is predicted to have a positive impact on the revenue generation in the near term. Elaborates our lead analyst of the report, "Growing investment in the education sector leading to uptake of latest technologies for better teaching techniques has provided a major impetus to the global interactive whiteboard market. IWB facilitate quick and easy content development. In addition, surging popularity of virtual learning and e-learning is also expected to have a positive impact on the market."

Apart from the education sector which is at the forefront of driving demand in the global interactive whiteboard market, the corporate segment is also having a major positive impact on sales. Currently, most of the demand is generated in Asia Pacific owing to its large student population. The Middle East and Latin America interactive whiteboard markets are also proving to be lucrative. Another noticeable trend is the demand for medium-sized IWBs which are relatively affordable and yet have multi-user functionalities.

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Substitute Products Challenge Sales in Interactive Whiteboard Market

Despite such a positive outlook, there are a few factors nonetheless that are having a negative impact on the global interactive whiteboard market. Those include the launch of substitutes that either compete with or replace IWBs. Adds our in-house analyst, "The industry is seeing a shift in product mix from interactive projectors and interactive whiteboards to interactive flat panels. This is predicted to gain further traction in the coming years."

The review is based on the findings of a TMR report, titled, "Interactive Whiteboard Market (IWB) (Type - Resistive Membrane, Electromagnetic, Infrared, Ultrasonic, Laser Scanner; End-use - Education, Corporate, Government; By Size - Small, Medium-sized, Large) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016-2024."

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The report segments the Global Interactive Whiteboard Market into the following:

Global Interactive Whiteboard Market, by Type

Resistive Membrane
Electromagnetic
Infrared
Ultrasonic
Laser Scanner

Global Interactive Whiteboard Market, by End-use Adoption

Education
Corporate
Government

Global Interactive Whiteboard Market, by Size

Small
Medium-sized
Large

Global Interactive Whiteboard Market, by Geography

North America
Europe
Asia Pacific
Middle East and Africa

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