ALBANY, New York, May 17, 2017 /PRNewswire/ --
Some of the prominent participants in the global interactive whiteboard (IWB) Market are Promethean Limited, SMART Technologies Inc., Hitachi, Ltd., Seiko Epson Corporation, and Samsung. To bolster their positions, the leading players are expending money and energy on product development. They are also leveraging strategic partnerships across various regions to increase their market share and customer base by enhancing their product portfolio.
In February 2016, for example, Smart Technologies Ltd. unveiled kapp IQ whiteboard having greater panel size that would help make brainstorming and collaboration session for students and employees more effective. In January 2016 again, Samsung Electronics America collaborated with Smart Technologies Inc. to integrate their offerings for educational institutions to promote student engagement.
A report by Transparency Market Research finds that the emergence and penetration of substitute technologies, namely interactive flat panels and tablets will deal a severe blow to the global interactive Whiteboard Market (IWB) market. As a result, the report predicts the market to decline at an 8.7% CAGR between 2014 and 2024 to reach a value of US$526.8 mn by 2024 from US$ 1147.0 mn in 2015. Volume-wise, the market will tank from 0.711 million units in 2015 to 0.520 million units in 2024.
Sizeable Chunk of School-going Children Makes Asia Pacific Market Leader
Depending upon type, the major segments in the global market for interactive whiteboard (IWB) are resistive membrane, electromagnetic, infrared, ultrasonic, and laser scanner. Among them, the resistive membrane accounted for maximum share in revenue - a significant 49.4% - in 2015. In terms of volume too, the segment leads the market. This is because of their affordability and the essential feature of touch interaction.
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Based on geography, the TMR report segments the global market for interactive whiteboards (IWB) into Asia Pacific, North America, Europe, Latin America, and the Middle East and Africa. In 2015, Asia Pacific accounted for a dominant share in the market revenue-wise. This is because of a massive proportion of school going children in the region, particularly in the countries of China and India. The market in Asia Pacific was worth US$419.5 mn in 2015.
Popularity of E-learning Helps Market
Fueling the global market for interactive whiteboards (IWB) is the increasing uptake of technology in the domain of education. Soaring popularity of e-learning and virtual learning is also helping the market. "Distance learning has become an integral part of the education industry as students cannot be present at all times in classrooms. This has spawned e-learning where students avail different online courses to study at their convenience. Teachers share materials with students using web-based services and students submit their work with the help of virtual folders and other interactive technologies.
Interactive whiteboards facilitate the process by providing a seamless experience to both teachers and students with the help of its large display, multimedia content, and easy integration and sharing capabilities," explains the lead analyst of TMR.
Emergence of Substitute Technologies Poses Major Roadblock to Market
The main threat to the global market for interactive whiteboards (IWB) is the emergence and popularity of substitute technologies. The penetration of smartphones, laptops, and tablets due to their tanking prices is posing a major roadblock to growth in the market. They are increasingly used in schools as they can be easily carried around. A bigger threat, however, is interactive flat panels sold in markets. "The flat panels work without projectors, reducing the cost of maintenance and problems of connectivity. Moreover flat panels have a longer life than whiteboards," adds the analyst of the report.
Get more information from Research Report Press Release: http://www.transparencymarketresearch.com/pressrelease/interactive-whiteboard-market.htm
This review is based on the findings of a TMR report, titled, "Interactive Whiteboard Market (IWB) (Type - Resistive Membrane, Electromagnetic, Infrared, Ultrasonic, Laser Scanner; End-use - Education, Corporate, Government; By Size - Small, Medium-sized, Large) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 - 2024."
Global Interactive Whiteboard (IWB) Market, by Type
- Resistive Membrane
- Laser Scanner
Global Interactive Whiteboard (IWB) Market, by End-use
Global Interactive Whiteboard (IWB) Market, by Size
Global Interactive Whiteboard (IWB) Market, by Geography
- North America
- Latin America
- Asia Pacific
- Middle East and Africa
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Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company's exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR's experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
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