3 Major Driving Factors In Interactive Whiteboard Market Expansion
Posted: Apr. 21st, 2017
The interactive whiteboard is gaining widespread popularity in the education sector. As a result, its international market is expanding rapidly. According to the data, the compound annual growth rate will remain 7 percent till 2020. To be precise, the global market value of interactive whiteboard for K-12 is predicted to reach $1169.6 million and other learning methodologies that make use of this device will reach the $1.97 billion mark by 2020.
Apart from the global market expansion, the highest rate of growth is observed in Europe which is currently 8.09 percent. Also, Europe is the biggest market for this device and is expected to attain a market value of $838.1 million by 2020.
Several studies have been conducted towards the analysis of this rapid growth, and the driving factors behind it. Here are the key findings:
1. Improved Compatibility With Other Devices
The breakthroughs in technology have made it possible to connect the smart devices like smartphones, tablets, computers and laptops with each other as well as with interactive whiteboard. Apart from this, the ease of internet access along with the compatibility has made it possible to use and control this device easily in the classroom and other places. Ease of use has increased the demand and therefore the market for these devices.
2. Smart Classroom Becoming The New Standard
Some of the educational institutions have adopted the idea of the smart classroom consisting interactive whiteboard and other smart devices. Such institutions have set a new standard in the education by breaking the old traditions and conventions. As the benefits of the smart classroom can't be denied, other schools and colleges have started to follow the trend and invest in the interactive whiteboard leading to the increased demand which is currently higher than the supply.
3. Better Quality Education
The interactive whiteboard comes with software that provides a lot of features. Teachers can include media like images, animation, and videos to the lesson presentations. Also, it is possible to record and save the work and even share it with students who are far away. The major benefit is that the students enjoy learning this way and their quality of understanding has shown significant improvement as compared to the traditional method of teaching. Therefore, the improved quality of education also has led to the expansion of this market.
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