The collaboration display market is predicted to reach $957 million by 2026 from $700 million in 2021, growing at a CAGR of 6.4% from 2021 to 2026, reports ResearchAndMarkets.com.
In its report titled, Collaboration Display Market with COVID-19 Impact, Analysis by Offering, Resolution, End User, Application, and Geography – Global Forecast to 2026, ResearchAndMarkets.com has stated the major growth drivers. Due to the increasing demand for collaborative displays in educational institutions and corporate offices combined with increasing remote and hybrid work models amid COVID-19, the market will see quite an upsurge in demand. Increasing digital transformation and constantly changing technology also play an important role in the increasing demand for collaborative displays among educational institutions, corporate offices, and government organizations.
On the other hand, the untapped market in the APAC region coupled with lower manufacturing cost and labor cost act as growth opportunities for developers of the collaborative display.
Holding a larger share in this growth by screen size will be the above 65-inch segment as it has witnessed a greater adoption rate.
Used largely by corporates in large conference halls, conference rooms, meeting rooms, and others, collaborative displays help in keeping people together with the use of multiple features such as nearly 40 multi-touch points that allow 40 people to coordinate simultaneously at the same time. Collaborative displays offer a tool to improve understanding, collaborate, and increase productivity through effective presentations and meetings in the corporate sector. Hence the use of collaborative displays has increased considerably in this segment over the years.
Companies such as Sharp, ViewSonic, Microsoft, Cisco, and Smart Technologies are working on developing more advanced collaboration displays by adding more advanced features and technologies.
APAC will be the Centre of Growth
The report segments the collaborative display market is APAC into China, Japan, South Korea, Australia, and the Rest of APAC. This market is expected to witness 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.
This growth is largely be driven by advancements in technology and the emergence of new business models in the region. On the other hand, growth in end-use sectors and mounting investments from government bodies are also favoring the growth of the collaboration display market in the region.
