Pune: The global interactive whiteboard market was valued at more than USD1 billion in 2015 and is expected to close to $2 billion by 2020. The analysts of ReportsnReports.com forecast global interactive whiteboard market to grow at a CAGR of 6.77% during the period 2016-2020. ReportsnReports.com is an online market research reports library of more than 500,000 in-depth studies of over 5,000 micro markets.
The global interactive whiteboard market analyst says one trend in the market is rise in education gamification. Gamification is considered to be a powerful tool to engage students, develop creative skills, and drive innovation. It is gaining momentum as an important element within the education sector, as it allows students to learn while being engaged in effective education games. In online video learning, the use of games, puzzles, and online questionnaires has helped in maintaining students’ attention and increasing interactivity. Also, the cost of video production and promotion has lowered with the emergence of better web resources and high bandwidth utilization.
The following companies are the key players in the global interactive whiteboard market: BenQ, Samsung, Seiko Epson, and Smart Technologies. Other prominent vendors in the market are: Interphase, IPEVO, Luidia, Mimio, Sharp, LG Electronics, Panasonic, Julong Educational Technology, and Vestel.
In terms of geographical analysis, Europe will be the largest region in the global interactive whiteboard market, and is expected to reach revenues of around USD838 million by 2020. The introduction of blended learning in the European education system will drive the market growth in the region. The adoption of gamification techniques in education systems across the globe will help in the development of the interactive whiteboard market. The pre-K-12 segment accounted for the maximum market share during 2015 and will continue to dominate the market for the next few years.
The interactive whiteboard market is well diversified due to the presence of a number of international and regional vendors, and is mainly dominated by some global vendors. These international vendors are increasingly focusing on increasing their presence in the market. Also, the vendors in the market compete against each other based on factors such as the price, availability, brand, and variety. In addition, the vendors are also introducing IWBs with advanced features such as lecture recording and cloud integration.