Interactive White Board (IWB) Market Size, Growth, Trends & Forecast (2022 - 2027)
The global Interactive Whiteboard (IWB) market is expected to grow at a CAGR of 9.8% between 2021 and 2026, from $2 billion in 2020 to $3.5 billion in 2026.
The global IWB market is booming due to the massive adoption of virtual learning courses and e-learning. As universities strive to provide students with a better learning experience, the demand for IWB is increasing. Another major factor influencing the company's growth is its cost-cutting capabilities. Whiteboards with interactive technologies show how a computer may give learning stimuli for a whole school. They can be less expensive than providing laptops to students or setting up an IT facility.
An interactive whiteboard (IWB) is a computer-connected display that allows users to interact with it. The desktop of the linked computer is projected onto the whiteboard screen using a projector. A pen, a stylus, or a human finger can be used to manipulate the whiteboard screen. Educational institutions employ interactive whiteboards (IWBs) to improve student interaction and collaboration. Multimedia information on whiteboards helps to pique pupils' interest. The information displayed or entered on IWBs can be readily changed or saved. In addition, the user experience is improved by using gesture recognition technology, which is present in some whiteboards.
Interactive White Board (IWB) Market Recent Developments
LG Electronics announced in November 2021 that it has deployed the next-generation infotainment system for Renault Group's new EV model, the 'Megane E-Tech.' This infotainment system runs on the Android Automotive OS. It operates on Android 10 and was granted a Google Automotive Services (GAS) licence.
Samsung Electronics has announced the debut of One UI 4, which will begin rolling out today on the Galaxy S21 series, including the Galaxy S21, Galaxy S21+, and Galaxy S21 Ultra. One UI 4 elevates your mobile experience by giving you more personalization options, privacy features, and access to Samsung's ever-expanding ecosystem.
Panasonic has joined the Scottish Federation of Housing Associations (SFHA) as a sector associate to help the region meet its ambitious carbon reduction ambitions. Organizations that advertise their products and services to the housing sector and support the SFHA through promotional platforms such as sponsoring, exhibiting and advertising are referred to as SFHA sector associates.
Foxconn, Apple's largest manufacturing partner, has agreed to purchase Lordstown Motors' vehicle assembly plant in Ohio for $230 million.
Interactive White Board (IWB) Market Drivers
Mobile phones, tablets, laptops, projectors, and interactive whiteboards are all being used in classrooms to make the learning process more participatory. IWBs aid in the maintenance of a rich communication environment that stimulates feedback not only between professors and students but also among students. By combining teachings in the form of a game, gamification improves the medium of delivering lectures. Students learn better when they are completely involved and have a hands-on learning experience, according to research from various institutions and colleges. Whether it's a math problem-solving exercise or a Google Earth tour of the Amazon jungle, IWBs make multimodal learning possible. Apart from schools, many businesses have begun to incorporate gamification into their training programmes or meetings. Gamification in corporate training instils a sense of competition among employees, motivating them to master new skills and increasing the content retention rate.
Interactive White Board (IWB) Market Restraints
One of the primary restrictions in the IWB industry is the high cost of IWBs compared to standard whiteboards. Aside from the product price, there's also the cost of accessories like a projector, stylus, and other connecting devices, as well as the installation fee. Aside from that, the expense of training employees to manage and operate IWBs must also be factored in. An IWB costs roughly $1,000, whereas a regular whiteboard costs around $20. The high cost of interactive whiteboards makes them difficult to install in small institutions and schools, limiting the market.
Interactive White Board (IWB) Market Segmentation
Product: The market is segmented into ＜ 55 Inch, 56-65 Inch, 66-75 Inch, 76-85 Inch, and ＞ 85 Inch.
The market share of the 76-85 Inch sector is the largest. Educational institutes, government and corporate offices, and educational institutes generate demand for IWBs with a display screen size of 76-85 Inches, which are mostly used in training sessions and business meetings. IWBs with a screen size of 76-85 Inches has been determined to be the best suitable for making the content (teacher notes or content from a textbook) available to the entire class in classroom teaching (an average of 30 students in a class).
Application: The market is segmented into Education Field, Business Field, Government Field, Household Field, and Others.
For the forecast period, the education sector is expected to have the greatest CAGR. A significant reason driving the growth of the Interactive Whiteboard (IWB) Market globally is the increased need for e-learning and interactive learning. As a result, governments across the country are progressively sponsoring interactive learning models for schools to encourage this type of learning. People learn faster when learning is interactive and two-way, according to research and surveys. This segment's demand is being fueled by all of these factors.
Interactive White Board (IWB) Market Regional Analysis
The largest market share belongs to North America. The widespread use of touch-based interactive whiteboards in North America, particularly in the education, corporate, and government sectors. In addition, several of the most important IWB industry participants, including Cisco, Google, Egan Team Board, Smart Technologies, and Qomo, are based in the United States.
Europe is expected to become a lucrative hub for the interactive whiteboard market, with the United Kingdom likely to account for a large portion of the increase, as the country's education sector is receptive to adopting and accepting novel technology innovations in the industry. In addition, the increasing use of blended learning in schools and colleges is fueling the growth of the interactive whiteboard market in the area.
During the projected period, the Asia-Pacific interactive whiteboard market is expected to rise at an exponential rate. The need for these boards has increased as a result of e-learning initiatives in emerging nations like India. As a result of increased demand for better learning solutions, rising nations such as Japan and China are expected to generate future growth.
Access to computers, tablets, and cellphones is still in its early stages across Africa and the Middle East. As a result, students find it difficult to become familiar with classrooms, let alone virtual ones, due to a lack of supporting equipment. For the market, this has been a huge obstacle. Traditional classrooms, which use pen and paper for teaching and learning, continue to provide the bare minimum of education. In recent years, there has been a slight penetration of technology and instructional aids, resulting in the introduction of computer and projector units, but this is still a long way off from an interactive whiteboard system.
Interactive White Board (IWB) Market Leader
Hitachi is the leading manufacturer in the global Interactive White Board market for education and corporate sectors. Hitachi Interactive Solutions is the manufacturing unit of IWBs by Hitachi.
Interactive White Board (IWB) Market Key Players
Impact of COVID-19 for Interactive White Board (IWB) Market
The initial quarters of 2020 posed a huge challenge for IWB manufacturers and suppliers as shutdowns of businesses, manufacturing units and schools halted the supply and demand of IWBs. Corporate and educational institutions transferred their operations online in the wake of the COVID-19 outbreak. This necessitated the development of video communication Platform-as-a-Service (PaaS), which allows teachers, students, and corporate employees to work from home. Other collaboration services will be used in conjunction with interactive whiteboards. Therefore driving the growth of the IWB market worldwide.
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