Increasing significance of e-learning and virtual learning environments is expected to drive market expansion shortly at a CAGR of 8.00% during the forecast period 2024 to 2032.

Based on the End User, the Smart Board Market has been segmented into Education, Corporate and Government. The Education segment was expected to hold the largest market share in 2023. The global expansion of the Smart Board market is significantly fueled by the rising need for e-learning and interactive educational approaches. Consequently, governments worldwide are allocating more funds toward implementing interactive learning models in schools to advocate for this method. As noted by CBCI Telecom, a technology firm, Smart Boards facilitate the formation of visual memories, which the human brain retains longer compared to textual information. Numerous research and survey findings have demonstrated that interactive and bi-directional learning processes result in accelerated learning rates.

 

Browse In-depth Details [Table of Content, List of Figures, List of Tables] of Smart Board Market Research Report

Regional Analysis

The global Smart Board Market, based on region, has been divided into North America, Europe, Asia-Pacific and the Rest of the World. North America consists of the US and Canada. The Europe Smart Board Market comprises Germany, France, the UK, Italy, Spain and the rest of Europe. The Smart Board Market in Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea and the rest of Asia-Pacific. The Rest of the World Smart Board Market comprises of Middle East, Africa and Latin America.

The largest market share for the Smart Board Market was maintained by the North American regional sector. The region boasts a robust education sector with a pronounced integration of technology within classrooms, resulting in a heightened demand for Interactive Whiteboards. Moreover, the presence of numerous key players in the market further fuels its growth in the area. In the 2019-2020 academic year, K-12 public education spending in the US averaged $15,810 per student, with New York leading in per-student expenditure ($29,597) and Idaho ranking lowest ($9,690). As of 2021, 35% of individuals aged 25 and above held at least a bachelor’s degree. The expanding education sector and the increasing adoption of classroom technology in these regions are catalysts propelling the demand for Interactive Whiteboards, with market growth anticipated to persist in the forthcoming years.

Moreover, the Europe market has been persistently growing over the forecast period. Europe retained a significant portion of revenue, primarily driven by the widespread adoption of remote work and online education across various organizations and institutions. In 2019, approximately 5.5% of employed individuals aged 20–64 in the EU typically worked from home, a figure that more than doubled to 12.3% in 2020 due to the impact of the COVID-19 crisis. By 2022, half of the enterprises in the EU with 10 or more employees or self-employed individuals will conduct remote meetings via the Internet, although the extent of usage varies among EU member states. Notably, countries such as Sweden, Finland, Denmark, Malta and Ireland exhibited the highest adoption rates. This trend can be attributed to the growing diversity of cloud networking solutions and the heightened demand for business continuity in recent months. As an illustration, in December 2018, The University of Nottingham, operating across three global campuses in the U.K., China and Malaysia, implemented Oracle's PeopleSoft Campus Solutions. These integrated systems are designed to enhance efficiencies, reduce costs and enhance the overall user experience for both staff and students.

The Asia Pacific market has experienced substantial growth, fueled by the widespread adoption of student information systems and e-learning solutions across lower-tier universities, middle schools and high schools. For example, the Japanese government introduced the Global Innovation Gateway for All (GIGA) initiative, aiming to utilize Information and Communication Technology (ICT) to provide education to every child. As part of this program, ICT support staff collaborate with IT companies to conduct programming classes, while digital tools facilitate students' learning by enabling direct connections with external experts through online conferencing. These advancements are poised to further propel the expansion of the regional market.

Furthermore, the rest of the world's Smart Board Market is divided into the Middle East, Africa and Latin America. The COVID-19 pandemic has expedited the uptake of distance learning solutions worldwide, with the Middle East, Africa and Latin America witnessing a similar trend. Smart boards have emerged as vital assets for educators, allowing them to conduct remote lessons and involve students in interactive activities, thereby facilitating effective learning in both remote and hybrid settings. Furthermore, in the Middle East, educators are increasingly embracing gamification as a strategy to encourage school innovation and enhance student engagement in the learning process.

Key Findings of the Study

• The global Smart Board Market is expected to reach USD 7.19 billion by 2032, at a CAGR of 8.00% during the forecast period.


• The Asia-Pacific region accounted for the fastest-growing global market due to the rising remote working conditions and growing e-learning platforms due to COVID-19.


• Based on Screen Size, the 70"-90" segment was attributed to holding the largest market in 2023, with an approximate market share of 55–60%.


• Hon Hai Precision Industry Co., Ltd. (Foxconn) (Taiwan), Hitachi, Ltd. (Hitachi) (Japan), Samsung Display Co., Ltd. (Samsung) (South Korea), LG Display Co., Ltd. (LG Display) (South Korea), Panasonic Corporation (Panasonic) (Japan), NEC Display (NEC) (Japan), Ricoh Company (Ricoh) (Japan), Google LLC (Google) (US), Cisco Systems, Inc. (Cisco) (US) and Microsoft Corporation (Microsoft) (US) are the key market players.