Market Trends of Collaborative Whiteboard Software Industry
Increasing Remote Working and Real-time Collaboration in Organizations
- Many organizations have adapted to the strategy of remote working in recent times due to the COVID-19 outbreak. Before the attack 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 costs, and better work-life balance for employees, among others.
- With the growing dependency on remote working, the organization needs the proper tools to collaborate among the team to optimize the processes. Thereby, increasing remote working trends across the world adopted by the different organizations are driving the studied market growth.
- The collaborative whiteboard software tools benefit the organization in real-time collaboration in many ways, such as increasing productivity, effective user adaption, having up-to-date information, knowledge sharing, and instant feedback.
- Another benefit of collaboration whiteboard software is improved scheduling. Lack of scheduling can waste large percentages of employees' work time across the organizations. Businesses that plan and schedule their goals and activities get more done and are more effective. Daily, weekly, and monthly scheduling allows teams to organize their workflows efficiently.
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North America is Expected to Hold Significant Market Share
- North America is one of the prominent regions with a significant share in the studied market. The COVID-19 pandemic largely impacted the region, 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.
- 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.
- 70% of the CEOs are focused on automated tasks to accelerate digital transformation, modify the business model and improve innovation. This increases the need for hybrid work culture, which drives the market as significant brainstorming sessions, strategy planning, and effective meetings are expected to continue in hybrid work culture during the forecast period.
- Similarly, according to the survey conducted by Flexera Software, among 514 IT executives in North America, 49% of the respondents believe that IT spending in the region is expected to increase as more businesses focus on investing in collaboration platforms and services and communication. This brings various opportunities for the vendors in the collaborative whiteboard software market. For instance, Micro, a San Francisco-based company, has 20 million users for their collaborative whiteboard and includes fortune users such as Dell, Cisco, Deloitte, Okta, and Pivotal.
- Vendors also focus on collaboration, mergers, and acquisitions in the market. For instance, in March 2022, Cisco announced that several Webex products would get Apple AirPlay later in 2022, allowing users to cast their iPhone, iPad, and Mac screens onto the devices. Cisco Webex Board devices will be able to serve as AirPlay targets, allowing Apple users to cast their screen to one of those devices.
- The significant product innovations in the region are also analyzed to impact the adoption of advanced solutions. At the Enterprise Connect Conference and Expo in March 2022 in Florida, ViewSonic Corp., a prominent visual solutions provider, unveiled its next-generation ViewBoard IFP62 series digital whiteboard. The ViewBoard IFP62 series of displays allow for unrestricted collaboration and innovation. This new generation of digital whiteboard displays is intended to assist teams in collaborating, connecting, creating, and sharing ideas and providing a way to move ideas forward.
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