Interactive Whiteboard Market New Revenue Pockets

The overall interactive whiteboard (IWB) market 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 forecast period considered for this report is between 2018 and 2023. Major drivers for the growth of the interactive whiteboard market include the trend of gamification in education and corporate sectors, high demand for digital classrooms, and increased funding for IWBs.

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The interactive whiteboard market is likely to grow in the coming years. The adoption of artificial intelligence (AI) and multi-touch features in interactive whiteboards is growing rapidly in education and corporate sectors. AI-powered IWBs use voice and other technologies to make them suitable for corporate environments. Some main features of AI-based IWBs include responding to commands, taking notes, and even translating meetings into other languages.

These benefits attract corporate users to invest in IWBs and use them for conducting meetings and training sessions. Also, the multi-touch feature of IWBs fascinates users as 8 or more than 8 users can edit or work on the same IWB simultaneously. This not only allows more interactivity among users but also helps in reducing the total time of discussions.

The market for capacitive technology is expected to grow at the highest CAGR during the forecast period. The growth of the capacitive technology is mainly propelled by the advantages offered by this technology, such as lower touch pressure, higher durability, and better picture quality, among other technologies. Also, the capacitive technology supports the multitouch feature, which is among one of the key trends for market growth, due to which the demand for this technology is expected to increase during the forecast period.

The market for IWBs with the screen size of up to 69” is expected to grow at a higher CAGR during the forecast period. The interactive whiteboards having the screen size of up to 69” are mostly used in the corporate sector as they are suitable for board meetings, which is one of the major applications of interactive whiteboards in this sector. With the increasing IWB market for the corporate sector, the market for interactive whiteboards with the screen size of up to 69” is also expected to grow proportionally.

In terms of end users, the market for the corporate sector is expected to witness significant growth during the forecast period. The launch of new technologies such as artificial intelligence and cognitive computing in the corporate sector is driving the demand for IWBs in this segment. Leading manufacturing companies such as Ricoh, Smart Technologies, Panasonic, and Cisco also launched new IWB products in the corporate segment. With the increased focus of leading players, the IWB market is expected to grow at the fastest rate for the corporate sector.

Geographically, APAC would be the fastest-growing region during the forecast period. The high growth can be due to the increased government funding in the education sector across the region. The demand for interactive whiteboards technology is increasing day by day in major APAC countries, such as India, Japan, and China. The countries in APAC are densely populated, thereby focusing highly on improving teaching standards and education outcomes across the region.

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