The collaboration display market is projected to reach USD 957 million by 2026 from USD 700 million in 2021; it is expected to grow at a CAGR of 6.4% from 2021 to 2026. Major drivers for the growth of the market are surged demand for collaboration displays in educational institutions and corporate offices as well as increase in remote and hybrid work models amid COVID-19. The increased digital transformation throughout the globe and adoption of ever changing technology is also a reason for the increased demand of collaboration display in corporate offices, educational institutions and government organizations. Moreover, the lower manufacturing cost and labour cost as well as huge untapped market in countries of APAC act as growth opportunities for developers of collaboration display.
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A collaboration display is a collaboration tool that comes with 4K or 1080p resolution and has built in 4K camera, microphone and speaker for smooth and seamless collaboration throughout the globe. The display comes in different size variants that make it easy to fit in different kind of offices and spaces. The collaboration display comes with latest technology and features that includes multi-touch point that allows multiple users to annotate or interact with the display simultaneously. It also comes with the flexibility to be integrated with multiple third party applications as well as with other devices. It provides a seamless platform to collaborate and interact with employees, clients, students, etc. The collaboration display comes with collaboration software makes it easier for the users to get the task done seamlessly. The educational software of collaboration display comes with multiple in-built lessons, assignments and activities that help to have an interactive learning.
Collaboration display is mostly adopted by verticals which include corporate, education and government. Although, it is also starting to have a market in retail and healthcare verticals as well. Among all the verticals, corporate segment of collaboration display market is projected to grow at the highest CAGR during the forecast period. With globalization, developing economies in APAC and RoW are expected to digitize their government organizations and educational institutes.
North America is the largest market for collaboration display and this trend is expected to continue throughout the forecast period. The US, and Canada are the major markets for collaboration display in North America. The increasing adoption of latest technologies in the countries of the region makes it easier for the collaboration display market to grow. The latest digital transformation drive in the countries has increased the demand for latest technology collaboration display in educational institutes. Also, due to COVID-19 pandemic, there is increase in remote learning and work culture that is driving the demand for collaboration tools.