July 01, 2020
According to the research report titled ‘Global Interactive Tables Market Size study with COVID-19 impact, by Screen Size Outlook (32-65 Inch and 65 Inch & Above), by Application (Exhibition & Trade Shows, Education, Retail, Control Room, Hospitality, Transportation and Others), by Technology (LCD, LED, Capacity and Others) and Regional Forecasts 2020-2026’, available with Market Study Report LLC, global interactive tables market was worth USD 904.4 million in the year 2019 and is expected to grow with a CAGR of 7.20% during 2020-2027.
For the record, interactive tables are extensively adopted in schools and play a significant role in classrooms for both students and educators. Such devices are integrated with user-friendly interface and learning materials as well as software to make learning easier.
Technological advancements in online education in consort with ready adoption of such innovations across educational institutes are major factors driving the interactive tables market growth. In fact, according to the study conducted by Shift Disruptive E-learning, the employee time for e-learning solutions is 40-60% lower as compared to conventional classroom setting, which in turn is fueling the product demand.
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World Education Services states that worldwide e-learning market is predicted to reach USD 331 billion by the year 2025, while the number of MOOC (massive open online courses) increased to 9400 in 2017 from 6850 in 2016. Similarly, as per Holon IQ, the global spending on AI-based educational technology was USD 0.8 billion in 2018 and is anticipated to reach USD 6.1 billion by the year 2025.
Moreover, the recent COVID-19 pandemic has compelled students worldwide to adopt social distancing practices in order to curb the spread of the disease, which in turn is fostering the demand for online & digital medium of learning across the globe. Additionally, rising adoption of interactive tables in hospitality sector is further aiding the market expansion. However, delicate nature and high maintenance cost associated with interactive tables may act as restraining factors to the overall market growth.
Regionally, North America interactive tables industry is expected to record significant growth during the forecast period, primarily due to widespread incorporation of advanced technologies in higher education sector.
On the other hand, Asia-Pacific market is poised to accumulate noticeable returns in the ensuing years. Growing inclination towards adopting interactive tables in hospitality sector is fueling the market size in the region.
The prominent companies operating in global interactive tables market are Microsoft Corp., Google LLC, Samsung Corp., Pathway Innovations & Technologies Inc., Sharp Electronics Corp., Promethean World Ltd., SMART Technologies, TouchIT Technologies Holdings Inc., Bare Conductive and Boxlight Corp. among others.