Global digital pen market includes technological advancements, demand for pens with innovative features, rising use of pens in arts and designing, and growing digital learning. Additionally, market expansion and advancements in feature could provide future scope for competitors. Though, high costs of these pens may limit the adoption in forecast periods.
Global Digital Pen Market Report, published by Variant Market Research, forecast that the global market is expected to reach $4,260 million by 2024 from $1,146 million in 2016, growing at a CAGR of 17.8% from 2016 to 2024.
"Digital Pen Market (By Platform: Android, IOS, and Windows; By Technology: Camera, Trackball, Position, Active, Accelerometer, and Others; By Application: Education, Clinical Documentation, Communication, Billing & Back Office, and Others; By Geography: North America, Europe, Asia-Pacific and RoW) Global Scenario, Market Size, Outlook, Trend and Forecast 2015 – 2024"
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A digital pen is used to conduct writings into digital media. They are also termed as electric pen or smart pen.
It is an input device and assists in human computer interaction with great technique.
It supports in storing, transferring, and digitalizing of written data into computers. A digital pen is usually inbuilt with a USB which lets the notes to be uploaded in the computer.
They are proficient of storing up to 50 pages of A4 size scripts.
Increased Use of Digital Pens in Art and Designing Works Propels the Global Digital Pen Market
The major aspects to drive the global digital pen market are increased use of digital pens in art & designing work, and high penetration of smartphone. However, technological advancement, and growing digital learning also supports the growth of digital pen market.
Though, its charging issue, and high cost are the major hindrance for the market growth. Furthermore, demand for pens with innovative features, and untapped market across the globe are expected to generate profitable opportunities in the forecast timeframe.
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Platform, technology, application, and geography are the primary segments of the global digital pen market. By platform, the market consists of android, IOS, and windows.
By technology, the market is divided as camera, position, trackball, active, accelerometer, and others. Also, application segment is further categorized into clinical education, documentation, billing and back office, communication, and others.
North America, Europe, Asia-Pacific, and Rest of the world (RoW) are the major geographical segmentation of the global digital pen market.
IOS Accounted Major Share in The Platform Segment
IOS dominated the market with highest share in the year 2016, due to its advantages such as excellent UI, fluid responsive, tighter security, best gaming experience, and multitasking among others.
Active Achieved the Fastest CAGR In Technology Segment
Active held for the chief market share in 2016, and is expected to reach at the fastest CAGR during the forecast period i.e. 2016 – 2024, driven by factors such as it allows users to write directly onto the LCD screen of a computing device for example smartphone, tablet, laptops, and others.
Clinical Documentations Dominated the Application Segment
Clinical Documentations accounted for the leading market share within the application segment, in 2016, owing to its extensive usage in healthcare IoT.
Asia-Pacific Achieved the Fastest CAGR
Asia-Pacific is likely to attain the fastest CAGR over the forecast period 2016 – 2024, due to increased adoption of advancement in technologies, rise in disposable income, and rising R&D activities.
Microsoft launched a new Surface Pro 2-in-1 and introduced a new “Surface Pen” that comes with 21 milliseconds latency. The major players profiled in the market include Apple Inc., Microsoft Corporation, Canon Inc., Hewlett-Packard Company, Logitech International S.A., Anoto Group AB, Toshiba Corporation, Wacom Co.
Ltd., Hanvon Technology Co.Ltd., and E-pens Ltd., among others.
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Scope of the Global Digital Pen Market
- Other Technologies
- Clinical Documentation
- Billing and Back Office
- Other Applications
- North America
- South Korea
- South America
- Middle East
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