Northbrook, IL -- (SBWIRE) -- 08/21/2018 -- The overall interactive whiteboard market (IWB) 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 main driving factors for the growth of the IWB market.

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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), and Microsoft (US).

Hitachi is a leader in manufacturing IWBs for education and corporate sectors. IWBs manufactured by Hitachi are provided under the Hitachi Interactive Solutions division. This division offers innovative products and solutions to meet customer requirements. The company offers various products that include interactive tables, interactive LCD screens, tablets, and interactive plasma units. All these products use the StarBoard suite of professional presentation and collaboration software. All new product launches and developments are expected to help the company expand its product offerings in the IWB market. For instance, in October 2017, Hitachi announced the release of its Hitachi Data Instance Director (HDID), version 6.

LG Display was ranked second in the global IWB market in 2017. LG Display seeks to strengthen its portfolio significantly by introducing new products, particularly with large panel sizes. LG Display aims to build a strong and diversified business portfolio by expanding its business across the world. For instance, in February 2016, the company opened its new business innovation center in Chicago, US.

Foxconn was ranked third in the global IWB market in 2017. It is a multinational electronics manufacturing company, with its factories located in Asia, Brazil, Europe, and Mexico. The company has many subsidiaries operating in different business segments. Among these subsidiaries, Sharp Corporation and Smart Technologies are the major companies manufacturing IWBs for education, government, and commercial sectors. Sharp Corporation manufactures 11 types of IWBs, which differ by size and resolution. The company operates through 7 major business segments, namely, IoT Communications, Health and Environment Systems, Business Solutions, Camera Modules, Electronic Components and Devices, Energy Solutions, and Display Devices. With the R&D investment, the company is focused on the expansion of its sales and manufacturing units. For instance, in January 2017, the company opened its R&D center for home appliances in China as a part of its R&D strategy.

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