SAN FRANCISCO, Sept. 3 (Xinhua) -- The global market for interactive whiteboards will grow about 6.1 percent in the next seven years to reach 2.13 billion U.S. dollars by 2025, market research firm Grand View Research, Inc. (GVR) said in a report Monday.
The robust market growth is driven by virtual learning and e-learning, which are some of the major trends currently associated with interactive whiteboards, the GVR said.
It said many government agencies are unveiling initiatives to transform traditional chalk and blackboard classrooms into digital ones with rapid technological advancements, while increased large-scale investment projects for integrating technology into education will propel market growth.
Significant investments in information and learning technology infrastructure in colleges, e-learning content development, and national training initiatives have driven the interactive whiteboards market, the GVR said.
The application of whiteboards in the corporate sector, such as small and medium-sized enterprises and educational institutions with limited budgets, has also benefited the market worldwide.
The corporate usage rate of the whiteboards, which stood at more than 18 percent in 2018, is expected to grow continually over the forecast period. Portable whiteboards, which is more convenient as a result of their light weight, is anticipated to rise by seven percent in the next seven years.
Europe, which took up the largest market share in terms of revenue during 2016, is expected to witness steady growth over the coming years, said the research firm headquartered in San Francisco in the west U.S. state of California.