Switchboard. A large single panel, frame, or assembly of panels on which are mounted on the face, back, or both, switches, overcurrent and other protective devices, buses, and usually instruments. Switchboards are generally accessible from the rear as well as from the front and are not intended to be installed in cabinets.
You will not see a switchboard in a dwelling unit (most times )
A switchboard may have clearly defined vertical sections, a panel does not.
Bob Badger Construction & Maintenance Electrician Massachusetts