The global stylus pen market is expected to grow at a CAGR of around 5% during 2019-2024. A stylus is a pen-shaped device with a soft and round rubber tip that moves smoothly over touch-screen devices such as smartphones, tablets or laptops. Resembling a regular pen in its physical appearance, it works either by touch or pressure. It has a fine-touch point which provides a smudge-free clicking and swiping experience to the user and an unobstructed view of the screen along with better precision for small touch points. With the recent growth in the production of devices equipped with touchscreens, stylus pens are increasingly replacing hardware pointing devices such as mouse and trackpad.
Growing digitization along with technological advancements across various sectors is one of the key factors driving the market growth. For instance, digitization in the education sector has ushered in the era of smart class and interactive whiteboards (IWB) of which stylus pens form a crucial part. With online teaching and training methods gaining preference over the conventional form of teaching, the demand for stylus pens is receiving a boost. Furthermore, the increasing usage of digital pens in creating digital artwork has further increased the demand for these pens in the education and related sectors. Additionally, technological developments in tablets and smartphones have created an extensive demand for these pens owing to the user-friendly experience provided by them. Other factors such as rising disposable income leading to an increasing consumer expenditure capacity is also driving the market growth.
IMARC Group’s latest report provides a deep insight into the global stylus pen market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the global stylus pen market in any manner.
The report has also analysed the competitive landscape of the market with some of the key players.
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