The education, research, and academia verticals have proven to be the key benefactors of tremendous advancements in development of interactive whiteboards. A high demand for smart classrooms and smart learning equipment has been observed on a global scale, fueling the demand for interactive whiteboards that mimic real-life interactions.
Connected to computers and laptops with larger smart screens, these allow access to large volumes of data that is available on the web. This feature also works to resolve virtual and e-learning challenges such as the inability to explain difficult academic concept over just a lecture. Ability to draw diagrams and solve equations in real-time and to ensure continuity in classes despite global disruptions due to the pandemic have collectively resulted in growth of the market.
Customers operating in educational institutes are making heavy investments to buy interactive whiteboards and touch boards in bulk and integrate them the institutional infrastructure. The implementation and installation of these hardware solutions is expected to open varied revenue streams for the global market. The demand for smart education, relentlessly growing number of COVID-19 positive patients, and uncertainty over next academic year has resulted in increasing number of students to enroll in virtual classes, thus propelling the market at a remarkable rate.
Key Strategies Incorporated by Interactive Whiteboards Market Players
- Demand for interactive whiteboards continues to increase in emerging economies of Latin America and Africa where educators are tackle low budget and lack of infrastructure
- Private schools in the Middle East and Africa (MEA) to use new technologies to promote themselves
- Economies such as India and China are rapidly implementing a foray of smart learning initiatives, which has led to a surge in adoption of interactive whiteboards and touch boards in the regional market
- Remote working to boost demand for interactive whiteboards as conferences and meetings require virtual setups
- Online training to up demand for interactive whiteboards as they mimic real-life training sessions with perfect ease
Increasing Penetration of IoT Is Boosting Adoption
Availability of wearable electronics and devices that allow access to interactive whiteboards applications while on the go is likely to play a key role in propelling the adoption during the forecast period.
Factors like high-speed internet connectivity and bandwidth expansion will enable the global interactive whiteboards market to thrive. Increasing advancements in data archival features and cloud storage technology are expected to boost the market in the coming years. The new era of interactive whiteboards and touch boards with live media delivery, supported by the rapid penetration of cloud computing technologies, and increasing internet speeds, will boost the adoption of interactive whiteboards as schools and offices go virtual.
Key vendors in the global interactive whiteboards market are striving to generate new revenue streams by targeting prospects operating in the corporate and healthcare sectors. Education and corporate end users in North America and Europe are estimated to be the most lucrative for revenue generation during the forecast period as the regions are quick adopters of technology and show higher savviness.
Competition Landscape of Interactive Whiteboards Market
Key players in the global interactive whiteboards market are forming partnerships and collaborations in order to enhance revenue generation and attract new customers by introducing improved technologies.
For instance, In June 2015, Panasonic Corp. announced partnership with JDL Horizons, an expert in educational multimedia. This partnership enabled Panasonic Corporation to offer broadcast consulting for the higher secondary schools under its Connected Classroom Program; this connected classroom module is made possible with Panasonic’s collaborative products such as interactive displays, wireless displays, enhanced classroom audio, and 3E two-in-one device and education software suite.
Companies are also focused on entering into joint ventures and equity investment deals to expand their product portfolio and market footprint to emerging economies. These players are adopting high innovation models instead of integrating conventional technologies. Thus, these companies are reinventing their businesses continuously in order to keep pace with the ongoing and upcoming market trends.
These insights are based on a report on the interactive whiteboards market by Future Market Insights. To read the full report, visit futuremarketinsights.com/reports/interactive-whiteboard-market.