The latest report by IMARC Group, titled “Digital Pen Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” finds that the global digital pen market size reached US$ 553.2 Million in 2021. Digital pens are input devices that enable users to digitally capture and scan the text on paper and handwritten information. They also allow users to save the data on linked devices through a universal serial bus (USB), Bluetooth, Wi-Fi, and other wireless technologies. Digital pens exhibit the properties of touch sensitivity, memory and electronic erasing, which makes them easy and simple to use. Consequently, digital pens find application across education, retail, healthcare, IT and telecom, and BFSI sectors as they offer an interactive experience and the ability to convert handwritten analog inflation into digital data.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Digital Pen Market Trends:
The market is primarily driven by the growing digitization in various businesses owing to their increased productivity and ability to get an edge over the competitors. Besides this, the rising adoption of e-learning sites and applications among students of all ages is also fueling market growth. E-educators are increasingly shifting to these online learning mediums as they offer students more convenience than conventional offline education mediums. In addition to this, the surging trend of bring-your-own-device (BYOD) across organizations is contributing to the market growth. In addition, consumers are gaining awareness regarding the disadvantages of using physical paper documents that increase inaccessibility, security issues and lack of storage space, which has escalated the product demand. Furthermore, key manufacturers are introducing digital pens that are integrated with sensors and cameras and have touch sensitivity, memory, input buttons, audio recording, and electronic erasing features. These factors are significantly impacting the demand for digital pens across the globe. Looking forward, the market is expected to reach a value of US$ 1,222.2 Million by 2027, exhibiting a CAGR of 14.39% during the forecast period (2022-2027).
- Based on the product, the market has been segmented into scanning and handwriting pen.
- On the basis of the platform type, the market has been classified into android, iOS, and windows.
- The market has been categorized based on technology into camera, accelerometer, trackball, and other digital pens.
- On the basis of the end user, the market has been segregated into BFSI, healthcare, government, education, manufacturing, IT and telecom, and others.
- Region-wise, the market has been divided into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa.
- The competitive landscape of the market has been examined, with some of the key players being Anoto Group AB, Apple Inc., Canon Inc., D’Ieteren Group SA, Dell Technologies Inc., Hanwang (Hanvon) Technology Corporation Limited, Development Company L.P., Microsoft Corporation, NeoLAB Convergence Inc., Samsung Electronics Corporation Limited, Toshiba Corporation, Wacom Corporation Limited, and Xcallibre (Pty) Limited.
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