The collaboration display market is projected to reach USD 957 million by 2026 from USD 700 million in 2021; it is expected to grow at a CAGR of 6.4 % from 2021 to 2026.
The global spread of COVID-19 has impacted business operations worldwide. At the same time, remote working has emerged as a key trend for organizations worldwide. Collaboration displays help people from different places to connect, and share, understand, and discuss work. By using these displays, teams located in different parts of the world can collaborate for projects.
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Opportunity: Government funding for installation of interactive displays in educational institutes
Government funding is playing a crucial role in the adoption of interactive displays in schools across countries. For example, the US Department of Education's Office of Special Education Programs offers technology grants for children with special needs, which also includes the installation of interactive displays in schools. Lately, governments of multiple countries have been supplying interactive displays to non-profit organizations and state schools. Apart from governments of different countries, leading companies, such as SMART technologies and Promethean, are also involved in the funding of interactive displays for educational institutions that cannot afford them. For instance, in November 2018, Nawaka Educational Charitable Trust (Fiji), and Promethean (US) donated interactive displays worth over USD 20,000 to the Nawaka District School in Nadi, Fiji, to create a digital study environment. Such initiatives are expected to generate ample opportunities for collaboration displays players in the coming years.
Challenge: Reluctance among professionals to switch from traditional to advanced technologies
Traditional whiteboards are easy-to-use products with no technology to operate. On the other hand, collaboration displays are technology-based and integrated with various technologies. Professionals need to be trained to operate collaboration displays and have to be made aware of their various features. However, many professionals, teachers, in particular, are reluctant to spend additional time to understand the product. This, in turn, acts as a challenge for the growth of the collaboration display market.
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