Interactive Whiteboard Market

Market Overview

The global interactive whiteboard market size was valued at 4.56 USD billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 7.45% from 2022 to 2030 and reach around 8.72 USD billion.

An interactive whiteboard is a large, touch-sensitive display that works with a computer and projector. SMART Technologies Inc. built the first interactive whiteboard in 1991. Interactive whiteboards have been increasingly popular in classrooms worldwide in recent years. Interactive boards are an excellent way to interact with digital content and multimedia in a multi-person learning environment. Viewing websites, showing or utilizing software without being linked to a computer, writing notes over instructive video clips, drawing letters on the web, saving notes via e-mail, print, or digital ink, and so on are all examples of learning activities with whiteboards.

During the projected period (2022–2030), the rising trend of education gamification is expected to fuel market growth. Students can learn their subjects while playing educational games, thanks to gamification. It transforms education by developing creative skills, innovation, and increased student engagement.

Various instructional features, such as online video learning, the usage of games, puzzles, and online quizzes, help students respond better. Furthermore, companies are developing games for various disciplines that may be taught via interactive whiteboards. Again, several governments worldwide are boosting financing for interactive learning models in schools to promote interactive learning. To enable interactive learning, the Indian government has developed four critical digital initiatives: Swayam, Swayam Prabha, National Academic Depository, and National Digital Library. Furthermore, educational institutions are increasingly employing interactive displays such as whiteboards and projectors to give digital material online, increasing interactive exhibitions such as whiteboards and projectors.

Market Dynamics

Market Drivers

Demand for Digital Classrooms is Increasing

Laptops, Mobile phones, projectors, tablets, and interactive whiteboards are all being used in classrooms to make the learning process more participatory. IWBs help to maintain a rich communication climate that encourages feedback from both instructors and students. Gamification improves the medium of lecture delivery by mixing teachings in the form of a game. Research from numerous universities and colleges shows that students learn better when fully engaged and have a hands-on learning experience. IWBs enable multimodal learning, whether a math problem-solving exercise or a Google Earth tour of the Amazon jungle. Apart from schools, many businesses use gamification in their training programs and meetings.

IWBs Industry is Growing as Bright and Touch-based Devices Become More Popular

Interactive whiteboard systems can even incorporate mobile devices like pcs, tablets, and cellphones. It can be directly or wirelessly connected to various devices, and you can fast annotate data that will be reflected on other devices. It also works in reverse: draw on your smartphone and watch it replicated in real-time on display. Another layer of collaboration is now possible. Meetings may go more quickly and efficiently when content is shared directly from devices.

Market Restraints

IWBs Are More Expensive than Standard Whiteboards

The high cost of IWBs compared to ordinary whiteboards is one of the critical constraints in the IWB sector. There's also the expense of peripherals like a projector, stylus, and other connecting devices and the cost of installation. Apart from that, the cost of training employees to administer and run IWBs must be taken into account. An IWB costs more than $1,000, while a standard whiteboard costs roughly $20. Because interactive whiteboards are expensive, they are challenging to install in small organizations and schools, limiting their market.

Market Opportunity

Integration of Artificial Intelligence in IWBs

Due to rapid technological advancements, businesses focus on innovation to provide variety and new features in their products. Many companies strive to integrate new technologies into traditional interactive whiteboards to make them more user-friendly and dynamic.

In the IWB sector, Artificial Intelligence (AI) is a technology with much potential. AI-powered interactive whiteboards assist in taking notes during a lecture, translating the speech into various languages, and allowing remote users to participate in the meeting or class. As a result, some companies are concentrating on integrating AI into IWBs to increase user demand for IWBs.

Regional Analysis

The interactive whiteboard market share has been divided into North America, Europe, Asia Pacific, the Middle East, and Africa.

Europe has the largest share of the interactive whiteboard market, owing to the growing acceptance of combined learning in schools and colleges, which has resulted in more interactive whiteboards being used in educational institutions. Furthermore, several multinational companies are pushing market expansion by providing superior technical features and interactive tools that assist teachers in generating curricula. Because of sophisticated alternative technologies such as interactive flat panel displays, portable projectors, and other interactive screens with enhanced capabilities at low maintenance costs, the interactive whiteboard market in North America is predicted to grow slowly.

In the forecast period, the interactive whiteboard market in the Asia Pacific is expected to develop at the quickest rate. Government-funded e-learning programs in countries such as Japan and India have boosted the demand for interactive whiteboards in the area. The presence of well-known companies like Samsung Electronics, Panasonic, and Sharp Technology helps the region's business thrive.

The widespread use of interactive whiteboards in education makes the Middle East, Latin America, and Africa likely to see stable growth. Gamification is gaining hold among Middle Eastern educators as a tool to foster school innovation and make studying more engaging for pupils. Market expansion is expected to accelerate in the future years.

Segmental Analysis

Technology, end-user, and region have all segmented the worldwide interactive whiteboard market.

The interactive whiteboard market has been divided into resistive, capacitive, infrared scanning, and electromagnetic segments based on technology. The capacitive technology segment is predicted to have the most significant market share over the forecast period, owing to the technology's durability, sensitivity, responsiveness, and capacity to enable multi-touch.

The market has been split into three segments based on the end-user: education, corporate, and government. Because today's tech-savvy youth are continuously connected to various digital gadgets, the education sector is likely to have the largest share of the interactive whiteboard market.

Recent Developments

• In May 2022: LG Display Showcases Innovative OLED Technology at SID (Society for Information Display) 2022.