The Global Collaborative Whiteboard Software market was valued at USD 1,393.87 million in 2020 and is expected to reach USD 3,163.98 million by 2026, registering a CAGR of 14.1%, during the period of 2021-2026

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New York, July 01, 2021 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Collaborative Whiteboard Software Market – Growth, Trends, COVID-19 Impact, and Forecasts (2021 – 2026)” – https://www.reportlinker.com/p06101232/?utm_source=GNW
Companies, such as Ernst & Young, SAP, Continental AG, and Accenture, which together have over 440,000 employees, are using Microsoft Teams.

– With the explosion of Kanban, Lean, and Agile frameworks for development, whiteboarding has become a well-liked tool for teamwork. Simple visualization, rapid communication, and fruitful collaboration are the cornerstones of success during this ever-changing environment.
– The increasing trend of gamification in education and corporate sectors, the growing trend of e-learning and digital classrooms, and increased funding from the governments of various countries to include collaborative whiteboard software across various end-users are the most driving factors for the expansion of the market.
– The development of Artificial Intelligence and its integration with team collaboration tools is expected to create higher demand in achieving automation, improved communication within an organization. Most organizations expect increased productivity and focus on high-value tasks as significant team benefits of Artificial Intelligence.
– With the increasing demand for these solutions vendors in the market are offering new products. For instance, in In Feb 2020, T1V launched its HubVC collaboration board to the international market at the Integrated Systems Europe. The solution HubVC is primarily designed to complement the company’s flagship product, ThinkHub, while offering a lower-cost, more simplistic solution for the meeting room experience. HubVC is basically a simple collaboration board that is designed to do the three most essential things for any meeting: wireless screen sharing, video conferencing, and whiteboarding.

Key Market Trends
Increasing Remote Working and Real-Time Collaboration in Organizations

– Many organizations have adapted to the strategy of remote working in recent times owing to the outbreak of COVID-19. Before the outbreak of COVID-19, remote working was one of the growing trends among the organization owing to many benefits, such as cost-saving in terms of fixed operating cost to the organization, better work-life balance to employees, among others.
– With the growing dependency on remote working, the organization needs the proper tools that can collaborate among the team to optimize the processes. Thereby, increasing remote working trends across the world adopted by the different organizations is driving the studied market growth.
– According to a survey conducted by Gitlab in 2020 among 3000 respondent across various industries, 35% of the respondent said that they are working remotely occasionally, 33% of respondent said that they are working remotely frequently, 16% of respondent said that they are working remotely very often and another 16% said that they are working all the time remotely.
– Further, working remotely poses the challenges of collaboration for which many organizations are adopting various tools. According to the Clutch 2020 Company Culture Survey, among 242 respondents working remotely in the United States, the most used collaboration tools for remote work in the United States in 2020 are Zoom 36%, Microsoft teams 19%, Skype 17%, Google Hangout 9% and Slack 7%.
– The collaborative whiteboard software is a game-changer for remote working, as distributed teams can collaborate better and optimize their processes by using a centralized platform to brainstorm, plan, and visualize multi-layered concepts, ideas, and approaches. Also, it makes communication faster and convenient for remote teams.

North America is Expected to Hold Significant Market Share

– North America region is one of prominent region that has significant share in the studied market. Also, the region was largely impacted by the spread of COVID-19, and major disruptions occurred in the IT sector. However, the IT companies successfully implemented work from home culture and are now looking forward to introducing hybrid work culture.
– Moreover, according to the report published by the Conference Board, 32% of the CEOs in the united states believed that regulations are a major challenge and would want to collaborate and rely more on technology to overcome challenges and ensure flexible Working for the employees.
– Furthermore, 70% of the CEOs are focused on automated tasks to accelerate the digital transformation, modify the business model and improve innovation. This increases the need for hybrid work culture, which in turn drives the market as major brainstorming sessions, strategy planning, and effective meetings are expected to continue in hybrid work culture during the forecast.
– Similarly, according to the survey conducted by Flexera Software, among 514 IT executives in North America, 49% of the respondents believe that the IT spending in the region is expected to increase in region as more businesses are focusing on investing in collaboration platforms and services, communication, among others. This brings various opportunities for the vendors in the market. For instance, Micro, a San Francisco-based company, has 20 million users for their collaborative whiteboard and includes some fortune users such as Dell, Cisco, Deloitte, Okta, and Pivotal.
– Vendors are also focusing on collaboration, mergers, and acquisitions in the market. For instance, in July 2021, AWW app, an online collaborative whiteboard platform, announced the partnership with Micro to provide its customers with advanced updates and access to many other whiteboard features from Micro and announced that the AWW application would no longer function post-July 31st, 2021.

Competitive Landscape
The collaborative whiteboard software Market is moderately concentrated. The top players in the market occupy the majority of the market share. Further, existing players already have their customer base who generally don’t switch to new players, and new players do face immense competition from the already established players in the market. Some of the major players in the market are Cisco Systems Inc., InVisionApp Inc., Microsoft Corporation, among others.

– May 2020 – Microsoft launched the Surface Hub 2S digital collaboration device in India. The all-in-one digital whiteboard, meeting platform, and teamwork collaborative computing device is priced at INR 11,89,999, which includes a Surface Hub 2 Camera and a Surface Hub 2 Pen.

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Read the full report: https://www.reportlinker.com/p06101232/?utm_source=GNW

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