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Glass Board Market to witness a steady growth over the forecast timeframe

Author : Rahul Varpe | Published Date : 2019-09-18 

The major factors which are driving the global glass board market include the adoption of e-learning, gamification in education & corporate sectors and increased government funding to incorporate the product for various applications. Growing investment in the education sector is one of the major factors driving the glass board market growth. Education is the second largest industry in the world after healthcare. Increasing technology adoption in education sector has led to improved collaboration and interaction among students.

Global educational technology market has crossed USD 17.7 billion in 2017 and it is projected to grow to USD 40.9 billion by 2022, at the CAGR of 18.3%. The growth of education sector shall help the glass board market to grow on a significant rate over the forecast time frame. The product is also used in the corporate sector for presentation and meetings. Increasing product consumption in both corporate and education sectors shall create high product demand over the coming years.

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However, increasing adoption of substitute technologies, such as flat panels and tablets are expected to hamper the glass board market growth over the forecast timespan. High cost and lack of awareness among people about the product may also restrain the glass board market growth in coming years.

Global Glass Board Market size is likely to witness an exponential growth rate over the forecast period, 2018-2025. Glass boards are a piece of tempered glass which are ten time stronger than the regular glass boards works with dry erase markers, permanent markers, paint markers and grease pens. Many industries are started to rely on them due to cleanliness, durability, and style. Glass boards are rapidly replacing the traditional white boards, which were the cutting-edge product just few years ago. Glass boards are made from various types of pressboards coated in a static-cling and dry erase chemicals.

Asia Pacific held the major market share of glass board market in 2017 and it is anticipated to lead the market, over the forecast period. The growth of glass board market in the region is primarily driven by increasing investments on educational infrastructure coupled with improving lifestyle in the developing countries such as India and China. The school accounted for the largest market share of Asia Pacific glass board market in past few years and projected to continues to do so throughout the forecast period.

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Education sector in India is currently valued at USD 100 billion and anticipated to nearly double USD 180 billion by 2020. Indonesia, Sri Lanka, and Myanmar’s education markets are growing with good growth rate. This exponential growth in education sector of the region will provide more opportunities to the Asia Pacific glass board market in near future.

North America was the second largest product consumer. This regional market is likely to experience moderate growth over the forecast timespan due to technological advancement and increasing adoption of interactive whiteboards in the region. Europe might experience sluggish growth rate in coming years, due to market saturation and increasing usage of modern devices in classroom teaching.

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Major players operating in the global glass board market are ACCO Brands, MooreCo Inc., Impact Signs Inc., Xiamen Blessing Glass Whiteboard Manufacturing Co., Ltd, Clarus, Glass Whiteboard, Casca Glass, Fulbright Glass Boards, Krystal Glass Writing Boards, Inc., Ghent, Archi Expo and Claridge, among others. In April 2016, MooreCo Inc. and Vanerum Stelter, LLC came together to offer most comprehensive offering of educational and commercial furniture, tools, technological products, and visual communication tools. This strategic decision will help both companies to provide better solution to customer and it will increase their customer base.

Read More:

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https://www.benzinga.com/press-releases/19/09/wr14441736/north-america-rapid-self-healing-gel-market-7-0-growth-to-2025

About Author

Rahul Varpe

Rahul Varpe

Rahul Varpe currently writes for fractovia. A communication Engineering graduate by education, Rahul started his journey in as a freelancer writer along with regular jobs. Rahul has a prior experience in writing as well as marketing of services and products online. Apart from being an avid reader, his other hobbies include music and sketching. He can be contacted at- [email protected] | https://twitter.com/varperahul

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