The Interactive Whiteboard (IWB) Market is receiving a huge boost in sales thanks to increasing government initiatives aimed at integrating advanced technologies in educational institutions, especially those in developing countries.
The Global IWB Market shipped 1.14 million units in 2013 for use by the Education sector, and this is expected to reach 2.31 million units by 2018, growing at a CAGR of 15 percent.
Governments “On Board” with Interactive Whiteboards
Countries such as the US and the UK support the use of smart classrooms and e-Learning in schools, which are aligned to the educational curriculum of that country. These countries help schools to procure IWB solutions and promote technological advances in the Education sector.
The integration of media with education to enhance and support collaborative learning, and the use of flipcharts and interactive data in educational institutions is one of the major factors fuelling the demand for interactive whiteboards.
Digital video systems have revolutionized traditional modes of teaching. Education institutions, especially those in developing countries, are focusing on using collaborative learning methods in classrooms, for which interactive whiteboards are especially useful. This demand for advanced teaching methods is expected to continue and increase during the forecast period.
Interactive Whiteboards as an E-Learning Tool
Educational institutions encourage dynamic learning and participation in classrooms. IWBs help institutions achieve this with the interactive tools they offer. They are widely used as a device to facilitate content delivery through e-Learning and virtual learning. An interactive whiteboard acts as a repository for the sharing of resources to facilitate virtual learning. E-learning, which utilizes cell phones, digital cameras, or data projectors, also makes use of IWB technology.
The Global E-Learning Market is expected to grow at approximately 8 percent during the forecast period. Virtual learning helps foster interactivity between students and teachers and has brought the traditional classroom into a different setting, enabling ease of access to education.
E-learning and virtual learning are, therefore, gaining in popularity in many countries. Hence, growth in the Global E-Learning and Virtual Learning markets is expected to have a corresponding positive impact on the growth of the Global IWB Market.
Increasing Vendor Interest
The countless uses for interactive whiteboards, not just in the Education sector, means that the Interactive Whiteboard Market has high potential for growth in the future, especially during the forecast period. Lured by the high growth potential of this market, many vendors are expected to enter the market.
In addition, the increased potential in the Education and Corporate sectors will attract many vendors to invest in new technologies in the next few years, especially because of the low penetration rate of interactive whiteboards in these sectors. Though this surge in the number of vendors will increase industry concentration and intensify competition, it is expected that this will lead to a restructuring of the market, which will prove beneficial to customers.
