LONDON--(BUSINESS WIRE)--Technavio analysts forecast the global stylus pen for interactive whiteboard market is expected to reach USD 730.63 million in 2019, posting a CAGR of more than 11%, according to their latest report.
The research study covers the present scenario and growth prospects of the global stylus pen for interactive whiteboard market for 2015-2019. The report considers revenue generated from sales of stylus pens for interactive whiteboards to calculate the market size. The report takes into account the revenue generated across regions such as the Americas, EMEA and APAC.
Technavio education analysts highlight the following four factors that are contributing to the growth of the global stylus pen for interactive whiteboard market:
- Advances in technology
- Upsurge in the adoption of IWBs
- Horizontal learning support
- Sustainable model of interactive teaching
Advances in technology
The global stylus pen for interactive whiteboard market is characterized by various innovative and advanced technologies. Innovations in technology have improved the functioning, display, and compatibility features of IWBs, thereby influencing the overall efficiency of the product. Modernization is enhancing network capabilities and conference control to improve compatibility and integration of IWBs with other devices in classrooms. Vendors are making huge investments to upgrade the existing versions of their products to maintain their market share.
“Many international players are coming up with products offering additional functionalities, such as Penveu, which is a key interactive classroom system tool that helps in the smooth functioning of interactive whiteboards. The tool comprises an intuitive user interface that offers simple hassle free control of a handheld pen as well as an onscreen menu system, which offers convenient and effective control of the content and other applications,” says Faizan Akhtar, a lead education technology analyst from Technavio.
Upsurge in the adoption of interactive whiteboards (IWBs)
The integration of media with education to enhance and support collaborative learning, and the use of flipcharts and interactive data in educational institutions is one of the major factors fueling the demand for IWBs. Educational institutions are encouraging dynamic learning and participation in classrooms. IWBs help institutions achieve this with the interactive tools they offer. They are widely used as a device to facilitate content delivery through e-learning and virtual learning.
“IWBs act as a repository for the sharing of resources to facilitate virtual learning. E-learning, which utilizes cell phones, digital cameras, or data projectors, also makes use of IWBs. Virtual learning helps foster interactivity between students and teachers and has brought the traditional classroom into a different setting, enabling ease of access to education,” says Faizan.
Horizontal learning support
IWB and stylus pens for IWBs applications are not only limited to specific subjects and learning modules. These devices can be used by educational institutions across disciplines. In addition to STEM streams, stylus pens can be used to teach subjects like language and arts as well. The superior stylus pen models also offer technical specifications of a remote control, which allows easy readability of text in any font size due to the zoom feature on the IWBs. These features are extremely beneficial to teach topics that involve scanning granular details such as map locations, which otherwise is a tedious job for teachers and students.
Sustainable model of interactive teaching
Schools function on strict budgets, therefore, within the education market, the sustainability quotient of any innovation is very important. Schools therefore consider investment decisions on concepts, technologies, and devices. IWBs and stylus pens are two such innovations for the education market, and the use of these enable schools to garner maximum benefits from their technology budgets. “With these learning methods in practice, it has become vital for colleges, universities, and corporates to have proper course content and technology to be in place for implementation, which in turn has positively influenced the demand for stylus pens,” adds Faizan.
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Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
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