Interactive Whiteboard (IWB) Market to Perceive Substantial Growth during 2030

The Interactive Whiteboard (IWB) market in Asia-Pacific is expected to grow at the highest rate during the forecast period, owing to the adoption of advanced learning methods and the emergence of virtual classrooms and e-learning courses in emerging economies. Moreover, economically developed nations tend to witness high penetration of Interactive Whiteboard (IWB) products in education and the corporate field, which is projected to significantly contribute toward the growth of the market. Allied Market Research, titled, "Interactive Whiteboard (IWB) market by offering, form factor, screen size, technology, and end-user: global opportunity analysis and industry forecast, 2021-2030," the global Interactive Whiteboard (IWB) industry size was valued at $4.29 billion in 2020, and is projected to reach $7.35 billion by 2030, registering a CAGR of 6.0%. Asia-Pacific is expected to be the leading contributor to the global market during the forecast period, followed by LAMEA and Europe.

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An Interactive Whiteboard (IWB) is an independent touchscreen computer utilized freely to perform operations and tasks via pen or finger. These devices are used at various places such as corporate board rooms, educational institutions, seminars, and communication studios. However, many companies such as intech IWB software provide users with more options & greater flexibility to create effective lessons and improve students' knowledge by providing multi-touch, gesture recognition, remote class, split screen, and multi-language features. Also, the use of portable IWB (Interactive Whiteboard) is in the latest trend.

The global Interactive Whiteboard (IWB) market size is anticipated to witness significant growth during the forecast period. Factors such as the emergence of virtual classrooms & e-learning courses, government initiatives for digital education, and the transformation of traditional whiteboards into digital whiteboards drive the Interactive Whiteboard (IWB) market growth. In addition, growth in digitalization & high adoption of electronics products boost the overall market growth. However, a lack of technical knowledge and high integration costs is a major restraint for the global Interactive Whiteboard (IWB) industry. In addition, growth in the educational sector in Asia-Pacific is expected to create lucrative opportunities for the Interactive Whiteboard (IWB) industry.

Moreover, developing nations tend to witness high penetration of Interactive Whiteboard (IWB) products, especially in the education sector. Factors such as the adoption of advanced learning methods and the rise in demand for gamification & digital classrooms also propel the market growth.

The global Interactive Whiteboard (IWB) market share is segmented into offering, form factor, screen size, technology, end user, and region. By offering, the market is segmented into Hardware and Software. By Form Factor, the market is segmented into Fixed and Portable. Based on Screen Size, the market is classified into Less than 50 Inches, 50 Inches to 70 Inches, 71 Inches to 90 inches, and Greater than 90 Inches. By technology, the market is divided into Infrared, Resistive, Capacitive, Electromagnetic, and Others. By End-user, the market is segmented into Education, Healthcare, Retail, Corporate, and Others.

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Region-wise, the Interactive Whiteboard (IWB) market trends have been analyzed across North America, Europe, Asia-Pacific, and LAMEA. North America contributed the maximum revenue in 2020. However, between 2021 and 2030, the market in Asia-Pacific is expected to grow at a faster rate as compared to other regions. This is attributed to an increase in demand from emerging economic countries such as India, China, Japan, and South Korea. The overall Interactive Whiteboard (IWB) market analysis is determined to understand the profitable trends to gain a stronger foothold.

COVID-19 has significantly affected the electronic and semiconductor sector. Business and manufacturing units across various countries were closed, owing to an increase in several COVID-19 cases, and are estimated to remain closed in 2021. Furthermore, partial or complete lockdown has disrupted the global supply chain posing challenges for manufacturers to reach customers. The overall production process is adversely affected, however, the surge in sales of digital educational products boosts the overall Interactive Whiteboard (IWB) market growth globally.

KEY FINDINGS OF THE STUDY

- The education segment is projected to be the major application during the forecast period followed by corporate. - Rise in adoption of smart & touch-based devices is anticipated to drive demand in the future.
- Asia-Pacific and North America collectively accounted for more than 56% of the Interactive Whiteboard (IWB) market share in 2020.
- India is anticipated to witness the highest growth rate during the forecast period.
- The U.S. was the major shareholder in the North America Interactive Whiteboard (IWB) market, accounting for approximately 53% share in 2020.

The key players profiled in the report include Hitachi, Horizon Display Inc., LG Electronics, Microsoft Corporation, Planar Systems (Leyard Optoelectronic), Ricoh, Samsung Electronics Co. Ltd., Seiko Epson Corporation, Sharp NEC Display Solutions of America, Inc., and Viewsonic Corporation. These players have adopted various strategies such as acquisition, and product launches to expand their foothold in the interactive whiteboard (IWB) industry.

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