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Interactive Whiteboard Market to Reach US$526.8 mn by 2024 with CAGR of 8.7%

07-31-2018 04:26 PM CET | IT, New Media & Software

Press release from: Transparency Market Research

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Interactive Whiteboard Market to Reach US$526.8 mn by 2024 with

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.

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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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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.

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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.

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Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.

TMR’s data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.

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