The global market for interactive whiteboard has been experiencing a rapid decline in its valuation over the last few years. The shift in consumers’ preference, on account of the extensive rise of substitute technologies such as interactive flat panels, has impacted this market negatively in the recent past. A report by Transparency Market Research (TMR) on the worldwide market for interactive whiteboard suggests that the trend is likely to continue in the near future as well. According to the study, the market, which valued at US$1.2 bn in 2015, is likely to decline at a CAGR of 8.70% between 2016 and 2024 and reach US$0.5 bn by the end of 2024.
Browse Full Global Interactive Whiteboard Market Report with TOC :http://www.mrrse.com/interactive-whiteboard-market
Laser scanner whiteboards, ultrasonic whiteboards, infrared whiteboards, electromagnetic whiteboards, and resistive membrane whiteboards are the major types of interactive whiteboard available in the global market. Among these, resistive membrane interactive whiteboards enjoy the highest demand. In 2015, resistive membrane interactive whiteboards dominated the overall market with a share of more than 50% in the total demand for interactive whiteboards, worldwide.
These whiteboards have found a wide-ranging application in the education sector due to the rising adoption of technology in teaching methods. The infrastructural development in this sector and the growing popularity of e-learning as well as virtual learning have attracted significant demand for interactive whiteboards, which is likely to increase further in the near future.
Increasing Investments Boosts Asia Pacific Interactive Whiteboard Market
The worldwide interactive whiteboard market is spread across North America, Latin America, Asia Pacific, Europe, and the Rest of the World. Asia Pacific has been leading this market since a past few years. The rise in investments in the education sector in this region, driven by the presence of a large pool of students, is propelling the Asia Pacific interactive whiteboard market significantly.
Other regional markets including North America, Europe, Latin America, and the Middle East and Africa are also witnessing significant growth in their share owing to the infrastructural development in the education sector in these regions. However, Asia Pacific is projected to remain dominant in the global interactive whiteboard market over the next few years.
Market Players Focus on Strategic Alliances and Introduction of New Products
SMART Technologies Inc., Sharp Corp., Seiko Epson Corp., Samsung Electronics Co. Ltd., Promethean Ltd., Panasonic Corp., Mimio Inc., LG Electronics Inc., and Julong Educational Technology Co. Ltd. are some of the major enterprises functioning in the global interactive whiteboard market.
Browse the full Press Release of Global Interactive Whiteboard Market at http://www.mrrse.com/global-interactive-whiteboard-market
The introduction of new products, advancements in existing ones, and entering into strategic alliances are the major trends among the leading players focusing on expanding their reach in the global arena. Recently, SMART Technologies Inc. announced its merger with Foxconn, a Taiwan-based multinational electronics company. Sharp Corp. has introduced AQUOS BOARD interactive display system and Epson Corp., in collaboration with SMART Tech Inc., has presented short- and ultra-short-throw projectors, compatible with SMART Board interactive whiteboard systems.