The collaboration whiteboard software market is expected to register a CAGR of 9.8% during the forecast period (2021-2026). 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.
Key Market Trends
The outbreak of COVID-19 is Expected to Drive the Market
– With the outbreak of COVID-19 in various countries globally, many governments to curb the virus governments announced lockdown of the whole which include the United States, major European countries, and the even Asia-Pacific countries, such as China, India, and Singapore, due to which many organizations and educational institutions are promoting the usage of collaborative whiteboards as employees and students tend to work from home during the crisis.
– The surge in the adoption of web conferences among enterprises owing to increasing demand for visual meetings, which saves traveling time for organizations, growing user comfort, and rising access to high-quality internet connections, are other factors that drive the market in this region.
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.
– April 2020 – Miro received a USD 50 million Series B for digital whiteboard as demand surges. Iconiq Capital led the round with help from Accel and a slew of individual investors.
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