Interactive Smartboards Market Size, Share, Growth, And Industry Analysis, By Type (Less than 55 Inch, 56-65 Inch, 66-75 Inch, 76-85 Inch and More Than 85 Inch), By Application (Education, Business, Government, Household and Others), Regional Forecast to 2028

Updated On: 13 March 2023

Report Overview

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The global interactive smartboards market size was USD 1081 million million in 2022. The global COVID-19 pandemic has been unprecedented and staggering, with interactive smartboards experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. As per our research, the market is expected to reach USD 1557.9 million in 2028, exhibiting a CAGR of 6.3% during the forecast period. The sudden decline in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over. 

A brand-new category of intelligent interactive display product called an interactive smartboard integrates LCD displays, touch screens, audio and video playback, computer input, storage, and output, among other features. In order to achieve human-computer interaction, touch technology is used to control the content that is displayed on the board. It is appropriate for one-to-many interactive display scenarios to improve user involvement. Compared to an interactive whiteboard, it is an all-in-one device that resembles a sizable flat-screen TV.

One of the main elements favoring the use of interactive whiteboards (IWBs) is the rising acceptance of cutting-edge learning techniques. The market is also expected to be driven by demand for gamification and digital classrooms, as well as the rising popularity of interactive whiteboards with artificial intelligence. Because they offer a flexible, interesting, and user-friendly learning environment, interactive whiteboards are becoming more and more used in a variety of industries, including government, business, and education.

COVID-19 Impact: lack of technological tools during the pandemic to Hinder Market Growth

All economic sectors have been severely impacted by the global epidemic. While MNCs and professionals have found it significantly easier to accept work from home as the new standard and carry on with business as usual, the global education system has faced difficulties in recent years. Many concerned academics, citizens, politicians, and bureaucrats agree that the educational system needs to be reimagined and reinvented in light of the current disturbances. Thus, the smart classroom technology is introduced.

The traditional educational system is changing as a result of schools implementing smart classroom technologies. The abrupt transition is not just happening in private schools; a handful of public institutions have already begun implementing smart classes. Although the crisis is distressing, it is also advancing technology in our colleges and even our high schools. Since education has traditionally taken place in classrooms, there is little doubt that students and teachers have had to make more modifications. Additionally, many of them lack the technological tools necessary to take advantage of remote learning.

Latest Trends

"Generation of Personalized Learning Objects in The Smartboards to Propel Market Growth"

There are four categories for the application market: corporate, commercial, and others. For IWB producers, the education sector is anticipated to develop into a lucrative industry. Teachers may quickly generate personalized learning objects from pre-existing content using interactive whiteboards in educational settings so that students can experience real-time visuals. IWBs also decrease the necessity for taking notes and promote student participation in group discussions and knowledge-sharing sessions. Over the course of the projection period, the aforementioned reasons are anticipated to fuel interactive smartboards market growth.

Segmentation

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• By Type Analysis

According to type, the market can be segmented into Less than 55 Inch, 56-65 Inch, 66-75 Inch, 76-85 Inch and More Than 85 Inch.

In terms of product, less than 55 Inch is the largest segment.

• By Application Analysis

Based on application, the market can be divided into education, business, government, household and others.

In terms of application, education is the largest segment.

Driving Factors

"Rising Interest in Interactive Smartboards to Augment Market Growth"

Fixed and portable form factors are divided into separate sub-segments within the form factor segment. The market share of portable smartboards was higher than it was previously, and it is anticipated that this segment will increase at the fastest rate over the projected period. On business vacations, last-minute presentations can be made using portable IWBs. Portable IWBs enable multi-touch capabilities without the need for additional supports or surfaces. Because of the aforementioned benefits, customers are becoming more and more interested in portable interactive whiteboards, which will lead to significant growth in the market.

"Various New Features of the Smartboards to Provide Impetus to the Market"

Over the course of the forecast, the fixed segment is anticipated to expand significantly as well. Numerous aspects, like high resolution for high visual quality, reduced latency, and more precise and quicker interactivity, are credited with this increase. Fixed IWBs are easy to use and provide standard aspect ratios that work with most current computer systems and projectors. Additionally, it is anticipated that the market for interactive whiteboards would be driven by elements like these IWBs' durable designs, improved finger-touch interactivity, and their ability to perform well without requiring any upgrades to the current equipment.

Restraining Factors

"High cost of the market to Impede Market Expansion"

Cost is by far the biggest and most noticeable drawback of using an interactive whiteboard. It can cost many times more than a conventional whiteboard, but if you hire us to install it, we can accomplish it at a reasonable price. Additionally, there are additional expenses for installation and accessories, which might raise the entire cost you are responsible for paying—which, once more, we make sure you won't. Typically, employees who need to utilize the system must first be instructed on how to do so, which could increase costs. However, when you work with us, the training is free. Regular upkeep and troubleshooting can be challenging, especially for more sophisticated models.

Regional Insights

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"Europe to Dominate the Market Due to Rising Demand in Various Sectors"

The market for interactive smartboards market share has been dominated by Europe in recent years, and this trend is likely to continue in the coming years. In the coming years, it is anticipated that the demand for smart and interactive from the transportation, healthcare, and military sectors would increase. Furthermore, it is anticipated that the region will continue to expand at a strong rate over the next few years and hold onto its second-place ranking. On the other hand, the Asia Pacific region is anticipated to present market participants with encouraging growth potential over the coming few years.

Key Industry Players

"Key Players Focus on Partnerships to Gain a Competitive Advantage "

Prominent market players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolios.

List of Market Players Profiled

• Soluciones Tecnológicas Integradas (Spain)
• StarBoard (Singapore)
• SmartMedia (U.S.)
• SMART Technologies (Foxconn) (Canada)
• Newline Interactive Inc (U.S.)
• Microsoft (U.S.)
• Cisco (U.S.)
• Promethean (U.S.)
• Ricohm (U.S.)
• Hitachi (Japan)

Report Coverage

This research profiles a report on interactive smartboards with extensive studies that take into description the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by inspecting the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, restraints, etc. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.