Smart Board Market

Increasing demand for digital classrooms and various government initiatives are driving market growth

Market CAGR for Smart Board is driven by the increasing demand for digital classrooms and various government initiatives. In classrooms, various tools such as laptops, mobile phones, projectors, tablets and interactive whiteboards are employed to enhance the learning process and encourage participation. Between 2012 and 2019, there was a 36 percent increase in the number of students utilizing hybrid learning methods at traditional universities, with the COVID-19 pandemic in 2020 accelerating this growth by an additional 92 percent.

Data from Europe reveals that in 2021, 27 percent of E.U. citizens aged 16 to 74 reported engaging in online courses or utilizing online learning materials, up from 23 percent in 2020. 

Smart boards play a crucial role in fostering a conducive communication environment that facilitates feedback from both educators and students. Additionally, gamification enhances the delivery of lectures by integrating educational content into a game format. Research conducted across various universities and colleges indicates that students exhibit improved learning outcomes when fully engaged in hands-on learning experiences. Smart boards facilitate multimodal learning, accommodating activities such as math problem-solving exercises or virtual tours using platforms like Google Earth. Beyond educational settings, gamification is also widely employed in training programs and meetings within businesses.

Government initiatives targeting the transition from traditional chalk blackboard classrooms to digital environments, alongside the growing importance of virtual learning and e-learning platforms, are anticipated to be key trends in the Interactive Whiteboard (IWB) industry. Both the central and state governments of India are actively providing digital interactive boards in numerous government schools nationwide, aiming to enhance educational quality and provide students with immersive learning experiences and comprehensive information access. In December 2021, the German government introduced the Digital Education Initiative to bolster digital education within the country.

As a result, it is anticipated that throughout the projection period, demand for the Smart Board Market will increase due to Increasing Demand for Digital Classrooms and Various government initiatives. Thus, driving the Smart Board Market revenue.

Technological advancements significantly propel the Global Smart Board Market Industry forward. Innovations in touch technology, software integration, and connectivity options enhance the functionality of smart boards, making them more appealing to users. Features such as multi-touch capabilities and seamless integration with various devices contribute to a more interactive and engaging user experience. As educational institutions and corporate environments seek to leverage these advancements, the market is poised for substantial growth. The anticipated compound annual growth rate of 7.99% from 2025 to 2035 underscores the potential for smart boards to evolve alongside technological trends, thereby attracting a wider audience and increasing market penetration.

Government initiatives and funding programs contribute significantly to the expansion of the Global Smart Board Market Industry. Many governments worldwide prioritize educational technology as part of their national strategies to improve learning outcomes. Funding for schools to acquire smart boards and other digital tools fosters an environment conducive to modern teaching methods. These initiatives not only enhance the learning experience but also stimulate market growth by increasing the number of installations in educational institutions. As governments continue to invest in technology-driven education, the demand for smart boards is expected to rise, further solidifying their role in contemporary classrooms.

The Global Smart Board Market Industry benefits from a growing focus on interactive learning methodologies. Educators and trainers increasingly recognize the importance of engaging learners through interactive content and collaborative activities. Smart boards facilitate this approach by allowing users to interact with digital content in real-time, fostering a more immersive learning environment. This trend aligns with the broader educational shift towards student-centered learning, where active participation is paramount. As institutions adopt these interactive technologies, the market is likely to see sustained growth, driven by the demand for tools that enhance engagement and improve educational outcomes.

The Global Smart Board Market Industry experiences a notable surge in adoption within the education sector. Schools and universities increasingly integrate smart boards into classrooms to enhance interactive learning experiences. This trend is driven by the need for modernized teaching methods that engage students more effectively. As of 2024, the market is valued at approximately 4.54 USD Billion, reflecting the growing demand for educational technology. The incorporation of smart boards facilitates collaborative learning and improves student participation, which is essential for contemporary educational paradigms. This shift indicates a broader acceptance of technology in educational environments, potentially leading to further growth in the coming years.

The Global Smart Board Market Industry is witnessing a rising demand for remote collaboration tools, particularly in corporate settings. As organizations increasingly adopt hybrid work models, smart boards serve as essential tools for facilitating virtual meetings and collaborative projects. Their ability to connect with remote participants and display shared content enhances communication and productivity. This trend is likely to continue, as businesses recognize the value of integrating smart technology into their operations. The market's growth trajectory suggests that smart boards will play a pivotal role in shaping the future of workplace collaboration, potentially driving the market value to 10.6 USD Billion by 2035.

By region, the study provides market insights into North America, Europe, Asia-Pacific and Rest of the World. The anticipated expansion of the Smart Board market in North America can be attributed to several key factors. The North American market has witnessed substantial revenue growth, primarily driven by increasing demand for interactive whiteboards featuring advanced technological integration. Notably, the incorporation of Artificial Intelligence (AI) into interactive whiteboards represents a significant technological advancement. Businesses are prioritizing innovation in response to the rapid pace of technological progress, aiming to introduce a range of new product functionalities. 

Moreover, many enterprises are focused on merging modern technologies with traditional whiteboards to enhance user-friendliness. Consequently, numerous companies are investing efforts in integrating AI into Smart Boards to meet growing consumer demand. For instance, Bird AI unveiled three captivating communication tools on September 8, 2022, aimed at facilitating a hybrid work environment.

Further, the major countries studied in the market report are the US, Canada, Germany, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea and Brazil.

Figure 2: Smart Board Market SHARE BY REGION 2023 (USD Billion)

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Europe Smart Board Market accounts for the second-largest market share as Europe dominates the Smart Board market share, primarily attributed to the increasing adoption of blended learning approaches in educational institutions. This trend has led to a surge in the use of interactive whiteboards across schools and colleges. In the EU, tertiary education enrollment reached 18.5 million students in 2021, with 59% pursuing bachelor's degrees. Bachelor's and master's degree students accounted for 88.7% of total tertiary enrollment in the EU, with notably high proportions reported in Poland, Croatia, Lithuania, Italy and Bulgaria. 

Conversely, lower shares were observed in Latvia, Austria, France, Luxembourg and Spain. Moreover, the market expansion is propelled by several multinational corporations offering advanced technical features and interactive tools to aid teachers in curriculum development. Further, the German Smart Board Market held the largest market share and the UK Smart Board Market was the fastest-growing market in the European region.

The Asia-Pacific Smart Board Market is expected to grow at the fastest CAGR from 2024 to 2032. This growth is attributed to government-funded e-learning initiatives in countries such as Japan and India, which have spurred demand for interactive whiteboards across the region. In the fiscal year 2022, school enrollment reached 26.5 crore children, with an additional 19.4 lakh children enrolled in Primary to Higher Secondary levels. Notably, the total enrollment of Children with Special Needs (CWSN) in fiscal year 2022 stood at 22.7 lakh, marking a 3.3% increase from fiscal year 2021.

Enrollment rates surged across all levels, including Primary, Upper-Primary, Secondary and Higher Secondary, except the Pre-Primary level. 

During this period, approximately 1.0 crore children were enrolled in pre-primary, 12.2 crore in Primary, 6.7 crore in Upper Primary, 3.9 crore in Secondary and 2.9 crore in Higher Secondary education. The presence of renowned companies like Samsung Electronics, Panasonic and Sharp Technology significantly contributes to the region's thriving business environment. Moreover, China’s Smart Board Market held the largest market share and the Indian Smart Board Market was the fastest-growing market in the Asia-Pacific region.

Leading market players are investing heavily in research and development to expand their product lines, which will help the Smart Board market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their global footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, the Smart Board industry must offer cost-effective items.

Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the global Smart Board industry to benefit clients and increase the market sector. In recent years, the Smart Board industry has offered some of the most significant advantages to the educational sector.

Major players in the Smart Board Market, including 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), Microsoft Corporation (Microsoft) (US) are attempting to increase market demand by investing in research and development operations.

Hitachi Ltd (Hitachi) is a multinational conglomerate operating in various sectors, including information technology, electronics, power systems, social infrastructure, industrial systems and construction machinery. The company specializes in the manufacturing and distribution of a wide range of products and services, such as information and telecom systems, power systems, social infrastructure and industrial systems, construction machinery, electronic systems and equipment, automotive systems and smart life and eco-friendly systems. These offerings cater to diverse industries, including manufacturing, communications, finance, healthcare and life sciences, government, energy, automotive, aerospace, transportation, nuclear and technology.

Hitachi operates through a network of affiliates, subsidiaries, associates and joint ventures spanning across regions such as Asia-Pacific, North America and Europe. The company's headquarters are located in Chiyoda-Ku, Tokyo, Japan. In October 2017, Hitachi unveiled the release of Hitachi Data Instance Director (HDID), version 6. This product enables companies to enhance recovery processes and eliminate backup windows. HDID leverages snapshots, clones and replication functionalities on HDS storage arrays.

LG Display Co Ltd (LG Display) is a leading manufacturer and supplier specializing in thin-film transistor liquid crystal display technology, with a focus on designing flexible displays, organic light-emitting diode (OLED) screens and other advanced display panels. The company's diverse product portfolio includes commercial displays, notebook displays, TV screens, mobile device displays, monitor screens, automotive displays and more. These display panels are available in various sizes and configurations to meet different market demands. LG Display leverages cutting-edge technologies such as OLED and LED to enhance its product offerings.

Its displays are utilized in a wide range of applications, including notebook computers, desktop monitors, tablet devices, smartphones, automotive infotainment systems, portable navigation devices and medical diagnostic equipment. Operating across key global regions including China, the United States, Singapore, Japan, Malaysia and Germany, LG Display maintains a strong international presence. The company's headquarters are located in Seoul, South Korea. In a move to further its business expansion and innovation efforts, LG Electronics inaugurated a new business innovation center in Chicago, US, in February 2016, aimed at fostering development in LG's commercial displays and business solutions sector.