Albany, NY -- (SBWIRE) -- 04/03/2017 -- 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.

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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.

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.

The IWB market report provides analysis for the period from 2014 to 2024, wherein the period from 2016 to 2024 is the forecast period and 2015 is considered as the base year; 2014 is included as historical information. The report covers all the major trends and technologies that would play a key role in the IWB market's growth over the forecast period.

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It also highlights the drivers, restraints, and opportunities expected to influence the market's growth during the said period. The study provides a holistic perspective on IWB market's growth in terms of revenue (in US$ Mn), across the Asia Pacific, Latin America, North America, Europe, and Middle East & Africa (MEA) regions.

The market overview section of the report demonstrates market dynamics and trends such as drivers, restraints, and opportunities that influence the current nature and future status of this market. The impact analysis of key trends has also been provided for every geographic region in the report in order to give a thorough analysis of the overall competitive scenario of the IWB market, globally. Moreover, the report provides an overview of various strategies of key players in the IWB market.