Albany, NY -- (SBWIRE) -- 08/16/2017 -- An interactive whiteboard (IWB) is an interactive display that can be connected to a computer. A projector is used to display the desktop of the connected computer onto the whiteboard screen. The whiteboard screen can be controlled with the help of a pen, stylus, or the human finger. IWBs are used by educational institutes to increase student interaction and collaboration.
Whiteboards help increase students' interest levels using multimedia content. Data presented or written on IWBs can be easily edited or stored. Also, using the gesture recognition technology available in selected whiteboards, user experience is enhanced. Rising investments in the education sector have increased the adoption of technology in classrooms, driving the IWB market. Furthermore, whiteboards offer integration and interaction capabilities with portable devices such as smartphones and tablets. However, the IWB market is experiencing increased competition from substitute technologies. Interactive flat panels are replacing whiteboards at an alarming rate. As flat panels work without projectors and have a longer life than whiteboards, their adoption is expected to rise during the forecast period. The global IWB market was valued at US$ 1.21 Bn in 2015 and is forecast to decrease at a CAGR of 8.7% from 2016 to 2024, reaching a value of US$ 526.8 Mn in 2024.
IWBs are used for corporate training sessions and board meetings. Important data such as financial results and market insights can be easily discussed with the help of multimedia content displayed on IWBs. Major IWB manufacturers profiled in the report include Smart Technologies Inc., Promethean Limited, Seiko Epson Corporation, Hitachi, Ltd., Samsung Electronics Co., Ltd., Sharp Corporation, Panasonic Corporation, Julong Educational Technology Co. Ltd, Mimio, Inc., and LG Electronics, Inc.
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Rising investment in the education sector is one of the major factors driving the IWB market. Increasing adoption of technology has led to improved collaboration and interaction among students. Also, the quick and easy content development and integration capabilities of the whiteboard are expected to drive its demand. Furthermore, the increasing popularity of e-learning and virtual learning is expected to increase the demand for IWBs. However, rising adoption of substitute technologies, such as interactive flat panels and tablets, is expected to hamper the growth of IWB market during the forecast period.
IWBs are used in the corporate sector for meetings and presentations. In 2015, Asia Pacific held the major market share in terms of revenue generated for IWBs globally, followed by North America. However, Middle East and Africa and Latin America are forecast to grow steadily during the near future.
Among the types of IWBs, resistive membrane IWBs held the largest market share of approximately 50% in 2015, due to rising demand from education sector. The high population density of school-aged children in Asia Pacific is expected to drive the demand for IWBs in the region. In terms of end-use adoption, the education sector accounted for a major revenue share in 2015 and it is also expected to remain the dominant segment during the forecast period. The medium-size segment was the largest of the IWB market in 2015 and it would continue its run in the top position throughout the forecast period. Due to price constraints and desire for multi-user functionality, medium-sized whiteboards are expected to generate strong demand during the forecast period.
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The global IWB market has been segmented on the basis of type, end-use adoption, size, and geography. On the basis of type, the market is segmented into resistive membrane, electromagnetic, infrared, ultrasonic, and laser scanner. Whiteboards are also used by government institutions for promotional events. Based on end-use adoption, the market is segmented into education, corporate, and government. In 2015, the education segment was the largest end-user of IWBs. Due to the improved learning processes afforded by them, the popularity of IWBs is increasing in the education sector. Also, on the basis of size, the IWB market is further segmented into small, medium-sized, and large IWBs. Of these, medium-sized IWBs was the largest segment of the market in 2015. Considering the space and price constraints, medium-sized whiteboards have the highest adoption rate.
Asia Pacific led the IWB market in 2015 and is expected to remain dominant throughout the forecast period from 2016 to 2024. This growth is primarily due to heavy investments in the education sector and the large student population in this region. Also, Middle East and Latin America are anticipated to experience steady growth in the IWB market in the coming years due to the growing influence of the education sector.