How Interactive Flat Panel Market Is Expanding Rapidly
Posted: Apr. 11th, 2017
Just a few years ago, the interactive flat panel was a device mainly used in the education sector. However, over the recent years, there has been a stunning growth in its market as it is expanding to the corporate world as well.
The interactive flat panel suppliers are making efforts to meet this rapidly rising demand. Among other interactive display products, flat panels have emerged as a top hit. According to the market analysis of 2016, by the end of fourth quarter, the share of flat panels among all other interactive devices was 68 percent, which is huge. Not only this, it is estimated that their sales crossed the one million mark in the year 2016. As the demand for larger size interactive flat panels grew, the annual volume growth increased from 24 to 36 percent in the United States alone.
The above statistics are not surprising if the compound annual growth rate of this market is considered which was 59 percent from 2013 to 2016. However, it is estimated that the market will continue to grow rapidly like this in the coming years.
Apart from the data, the market analysts cite other reasons for the evolution of this market. As mentioned earlier, the interactive flat panels were mainly used in the education sector only. On the contrary, the corporate world was not very much satisfied with the features and usability of these devices. Therefore, there was a huge market to be explored.
Interactive devices manufacturers took note of this and started to develop products to meet the different type of requirements of the corporate sector. Therefore, the devices with different features are being developed instead of one fit for all kind of solution.
Consequently, the corporate world started to adopt this technology and therefore, the interactive flat panel suppliers started working harder to meet this rising demand. The major requirement of such devices are in the meeting rooms of the companies and the data says that there are around 32 million meeting rooms which are yet to be upgraded with this technology. Therefore, it is no doubt that a huge market is there for the interactive devices exist which is still unexplored. Moreover, it is estimated that the annual sales will cross the half million mark by 2021 in corporate sector alone.
With the current rate of technological advancement, more and more sophisticated devices are being designed in order to meet the wide span of requirements of different sectors. As a result, there is an equally rapid expansion of the interactive flat panel suppliers and manufacturers.
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