The global collaborative whiteboards software market had a revenue holding of USD 1,633 million in 2021. It is expected to reach USD 4,757 million by 2030, growing at a CAGR of 14.3% during the forecast period (2022–2030).
The collaborative whiteboard software primarily provides an open, singular, or shared space for a design where collaborators can simultaneously share their information and make any necessary modifications from their devices. The tool resembles a physical whiteboard, as suggested by its name. It provides various tools for designing, saving, sharing, and communicating material in a configurable workspace. Collaboration is a fundamental aspect of any workplace and is regarded as one of the essential skills. While these technologies are prevalent among design and project management teams, any discipline can benefit from an intuitive and user-friendly area for information exchange. Some collaborative whiteboard solutions are integrated with other design tools or visual collaboration platforms.
With the emergence of intelligent conference rooms, the future of collaboration will also improve. With the help of a wide range of modern technologies, businesses can outfit their meeting spaces and stay connected to all their employees, regardless of where they are. These technologies range from virtual assistants and interactive whiteboards to intelligent scheduling and 360-degree video cameras. In addition, Audience Engagement Platforms, or AEPs, are gaining momentum. These cloud-hosted software solutions can provide interactive capabilities to enterprises seeking to engage and monetize huge audiences through appealing participation. As demand for these solutions grows, market providers are introducing new items. Due to increasing demand, the market for these solutions and services is highly active for established and up-and-coming competitors.
Due to the coronavirus pandemic, several businesses adopted the work-from-home strategy. Before the pandemic, remote working was one of the most popular trends inside the company for several reasons, including financial savings in terms of fixed operational costs and improved work-life balance for employees. The company requires the right tools so that the team can work together to improve the procedures due to the rising reliance on remote work. As a result, the market for collaborative whiteboard software is being driven by growing global trends toward remote working that various enterprises have adopted. In a survey by Gitlab in 2020, which included 3000 respondents from multiple industries, 35% of respondents said they worked remotely occasionally, 33% said they did so frequently, and 16% said they did so very frequently. Another 16% said they worked from home constantly.
Additionally, collaborating when working remotely presents difficulties, for which many firms implement various methods. The most popular collaboration platforms for remote work in the United States in 2020, according to the Clutch 2020 Company Culture Survey's 242 respondents who work from home, are Zoom, Microsoft Teams, Skype, Google Hangouts, and Slack. With the help of a centralized platform to plan, discuss, and visualize multi-layered concepts, ideas, and methods, scattered teams may communicate better and streamline their operations, which is where collaborative whiteboard software comes in. It also facilitates and speeds up communication for remote workers.
Furthermore, collaborative whiteboard software solutions are advantageous to the business in real-time collaboration, including productivity growth, successful user adaptation, up-to-date information, knowledge sharing, and immediate feedback. The market for collaborative whiteboard software is growing due to these advantages.
In both collocated and dispersed teams, presence awareness, task awareness, and team awareness are crucial for coordinating the tasks regardless of the task domain. To support coordination, it is necessary to spread knowledge of information across team members when the distance between the teams' increases. In addition to distance, other elements affect team awareness when using distributed and collocated collaborative software, including work size, team size, team type, and communication. Along with lack of knowledge, several other problems, including poor use and execution, lack of training, and subscription waste, are obstacles to the market growth for collaborative whiteboard software.
Due to the rising need for engagement and communication solutions for remote employees, the industry has seen several expenditures in research and development for new product launches that meet consumer needs. An essential aspect of the pandemic's demand for new forms of collaboration is the rapid expansion of whiteboard software. The whiteboard software is a technological advancement over traditional whiteboards used in classrooms and offices. Even if they already exist, their benefits for meetings and presentations have recently gained prominence in contemporary businesses.
With smart conference rooms, the collaboration will only improve in the future. Several modern technologies can be installed in meeting spaces, ranging from virtual assistants and interactive whiteboards to intelligent scheduling and 360-degree video cameras. Additionally, IoT might be used to link all of these technologies with the rest of the system. Information can be communicated this way while ensuring that all software solutions synchronize as quickly as possible. Furthermore, the pandemic gave service providers a profitable opportunity by allowing remote workers to experience teamwork and nimble communications. Investors are investing heavily in interactive whiteboard companies as demand rises.
| Study Period | 2018-2030 | CAGR | 14.3% |
| Historical Period | 2018-2020 | Forecast Period | 2022-2030 |
| Base Year | 2021 | Base Year Market Size | USD 1,633 Million |
| Forecast Year | 2030 | Forecast Year Market Size | USD 4757 Million |
| Largest Market | North America | Fastest Growing Market | Europe |
By region, the global collaborative whiteboards software market includes North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa.
North America will command the market, expanding at a CAGR of 14% over the forecast period. The spread of coronavirus significantly affected the North American region, with significant disruptions in the IT industry. However, IT firms have effectively embraced a work-from-home mentality and are now eager to adopt a hybrid work environment. Additionally, according to the Conference Board survey, 32% of American CEOs considered regulations a significant issue. They said they would like to work together and rely more on technology to overcome obstacles and guarantee a flexible workforce environment.
Furthermore, to hasten the digital transformation, alter the business model, and boost innovation, 70% of CEOs are concentrating on automated tasks. Since brainstorming sessions, strategy planning, and productive meetings are anticipated to continue in hybrid work cultures over the forecast, it raises the need for hybrid work cultures, driving the market. Similarly, according to a poll by Flexera Software of 514 IT executives in North America, 49% of the respondents think that the region's IT spending will rise as more companies prioritize investing in collaboration platforms and services, among other things. The market vendors will benefit from a variety of options as a result.
Europe will likely grow at a CAGR of 14.7%, accounting for USD 1,129 million by 2030. Coronavirus harmed the region, which led to a rise in the use of remote work. For instance, 5.6 million people in the United Kingdom reported doing remote work in 2020, an increase of about 1 million from the previous year. Therefore, fueling the expansion of the regional market for collaborative whiteboard software. The adoption of remote working by several organizations in the area is leading to an increase in demand for video communication tools like Zoom and Microsoft Teams, among others. For instance, according to Airnow, by the end of November 2020, there will be about 1.7 million daily active users of the zoom application. This demonstrates the necessity for teamwork tools and presents different business options for market vendors.
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The global collaborative whiteboards software market is segmented by the operating system, deployment mode, organization size, and region.
The global collaborative whiteboards software market includes Windows & Web, iOS, and Android.
The Windows & Web section will likely grow at a CAGR of 14.5% and hold the largest market share over the forecast period. As the Windows operating system is the most renowned and widely used operating system in the world, installed on millions of PCs and laptops, market suppliers have developed whiteboard software compatible with this operating system. Users can utilize the Whiteboard application on the internet or download a Windows program. In addition, with a Microsoft surface stylus, users may sketch or create flowcharts using the whiteboard app. Overall, the whiteboard has become a trustworthy teamwork and collaboration canvas.
The Android section will hold the second-largest market share. Android is an open-source operating system designed specifically for touchscreen mobile devices like smartphones and tablets. It is based on a modified version of the Linux kernel. Android has become the most popular and best-selling smartphone operating system worldwide. Google's Jamboard, an interactive digital whiteboard designed to integrate with Google Workspace, operates well on Android. The Android software Jamboard makes it simpler for students and teachers to participate in creative activities using their smartphones, tablets, or Chromebooks.
The global collaborative whiteboards software market includes On-Premise and Cloud.
The Cloud section will likely grow at a CAGR of 15.17% and hold the largest market share over the forecast period. Due to the increased acceptance of cloud-based solutions and software across industries, cloud deployment would experience the fastest growth rate throughout the anticipated period. Due to the cost-effectiveness of cost deployment, Small and Medium-Sized Enterprises (SMEs) account for the vast bulk of uptake. The cloud deployment option enables simple operation across multiple sites without installing software or maintaining supporting hardware.
The On-premise section will hold the second-largest market share. By storing apps and data on in-house servers, on-premises strategies enable businesses to control expenses. When usage patterns are well-understood and predictable, this strategy for providing the entire infrastructure may be the most cost-efficient. The on-premises program offers safe data and file storage, as only the organization's personnel can access the stored files.
The global collaborative whiteboards software market includes Large Enterprises and SMEs.
The Large Enterprise section will likely grow at a CAGR of 16.2% and hold the largest market share over the forecast period. Currently, large businesses are confronted with new and substantial obstacles, such as the expansion of business volumes, the maintenance of employee productivity and effectiveness, and the remote working rules imposed by the pandemic. Large organizations must provide their staff with the capacity to interact across platforms and devices to work in real-time. In addition, large businesses are spending more on integrated and automated software and technology solutions, which is anticipated to have a favorable effect on the industry.
The SME (Small and Medium Enterprise) section will hold the second-largest market share. Small firms often have distinct requirements compared to large corporations and are frequently constrained by fewer resources and a lower budget. Small and medium-sized businesses (SMEs) require technological integration to maintain cost-effective and efficient business processes. Integration of on-premises and cloud-based apps and services is critical for SMBs, and cloud connectivity is essential for expanding businesses.
