The global interactive display market is expected to grow from USD 9.7 billion in 2019 to USD 13.8 billion by 2024, at a CAGR of 7.2% as per a new report by MarketsandMarkets.
How integration of artificial intelligence in interactive whiteboards to propel new opportunities in this market?
Due to rapid advancements in technology, companies focus on innovation to provide variety and additional features in products. Researchers associated with different companies focus on integrating new technologies in conventional interactive whiteboard to make them user-friendly and interactive. Artificial Intelligence (AI) is one such technology, which provides huge opportunities for the interactive whiteboard market to grow.
AI-based interactive whiteboards help take down notes during a lecture, translate the lecture into other languages, and enable remote users to attend the meeting or lecture. Due to this, various companies focus on integrating AI in interactive whiteboards, as this would accelerate the demand for interactive whiteboards.
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As of December 2017, Ricoh was the only company that managed to launch an interactive whiteboard with artificial intelligence (AI) that put cognitive computing right in the middle of a meeting room. In February 2017, Ricoh integrated IBM’s Watson technology in its interactive whiteboard, offering various user-friendly features that were in demand among end users. Some of these features included adding remote users to the meeting, controlling the whiteboard with voice commands, and translating the meeting to the end user’s language and displaying the translated text on the interactive whiteboard.
Is lack of skilled programmers to develop software applications for multi-touch interactive displays going to remain a key challenge?
Multi-touch display detects the touch of more than one finger on the screen at a time. Interactive displays are designed to recognize multi-touch inputs and process the information accordingly. Advanced skills are needed to develop software applications to take complete advantage of this multi-touch functionality of interactive displays. The lack of skilled programmers capable of developing multi-touch applications is a challenging factor for the growth of multi-touch interactive displays. Moreover, the development of multi-touch applications is time-consuming and expensive, which hampers the productivity of businesses that intend to use them in their presentations. To overcome this challenge, a few companies have started introducing software platforms to simplify application development. One such company is IntuiLab SA (France), which offers a multi-touch software platform—IntuiFace. This software allows any average user to develop interactive multi-touch applications and presentations using customizable drag-and-drop tools.
Interactive kiosks to account for largest share of interactive display market during forecast period
The interactive display market, by product, has been segmented into interactive kiosks, interactive whiteboard, interactive table, interactive video wall, and interactive monitor. The interactive kiosks segment is expected to dominate and witness significant growth during the forecast period. Software solutions play a major role in the market as kiosk providers have to provide customized solutions to sellers as per the product and location requirement. Interactive kiosks enable retailers to provide a high level of satisfaction to consumers by offering them greater control over their purchase decisions. Through interactive kiosks, customers can choose and buy products on their own, without the assistance of the store staff. Interactive kiosks are user-friendly compared to other informative devices and can accomplish complex tasks in less time on the back of the innovative technology.
Market for transportation vertical to grow at highest CAGR during forecast period
The market for the transportation vertical is expected to witness significant growth during the forecast period owing to its services such as making reservations, knowing ticket price, getting schedules of arrival and departure, receiving real-time status updates of reservation, and others. They also facilitate wayfinding for travelers and advertise brands, allowing providers to quickly and efficiently communicate to customers the requirements for traveling.
Key players in the interactive display market include LG Display (South Korea), Sharp (Foxconn) (Japan), Leyard Optoelectronic (Planar) (China), Samsung (South Korea), NEC (Japan), Panasonic (Japan), Elo Touch (US), Crystal Display Systems (UK), Horizon Display (US), and ViewSonic (US). LG Display (South Korea) is a well-known player in market. The company has a wide portfolio of displays.
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