Collaboration Display Market Size & Forecast

The global collaboration display market size 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.

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.

The collaboration display market in APAC projected to have highest CARG during the forecast period (2021-2026)
The collaboration display market in APAC is expected to grow at the highest CAGR during the forecast period owing to the rapidly changing face of industries from a product-centric to customer-centric approach due to increasing competition and changing customer behavior in high-potential markets such as China, Japan, South Korea, and Australia. Due to advancements in technology and the emergence of new business models in the region, the collaboration display market is exhibiting an upbeat outlook. The booming corporate and education sectors would further fuel the adoption of collaboration displays in APAC. Furthermore, growth in end-use sectors and mounting investments from government bodies are also favoring the growth of the collaboration display market in the region.