The digital pen market was valued at $1.67 billion in 2020 and is projected to reach $5.78 billion by 2030, registering a CAGR of 9.5% from 2021 to 2030. Digital is an enhanced battery-operated writing application that is designed to allow users to digitally capture and store a handwritten note or drawing.
The growth of the digital pen market is majorly driven by the growth in internet penetration and the rise in the adoption of smart devices coupled with an increase in the adoption of BYOD policy. Furthermore, the rise in the adoption of business process automation is anticipated to drive market growth. However, lack of technology readiness in various underdeveloped nations acts as a prime restraint of the market. On the contrary, the emergence of digital platforms and rise in investment in digitization are anticipated to provide lucrative opportunities for the expansion of the digital pen market during the forecast period.
The report segments the digital pen market on the basis of platform type, technology, end-user, and region. By platform type, the market is categorized as Android, iOS, and windows. By technology, it is segmented into camera digital pen, accelerometer digital pen, trackball digital pen, and others. By end-user, it is fragmented into BFSI, healthcare, manufacturing, government, IT & telecom, and others. Region-wise, the digital pen market trends are analyzed across North America (the U.S., Canada, and Mexico), Europe (the UK, Germany, France, Italy, and the rest of Europe), Asia-Pacific (China, India, Japan, Australia, and the rest of the Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa).
The key players operating in the market include Apple Inc., Canon Inc., Hanvon Technology Co. Ltd, HP Enterprise Development, Livescribe Inc., Moleskine, NeoLab Convergence, Inc., Toshiba Corporation, Wacom, and Xcallibre.
The growth of the digital pen market is majorly driven by the growth in internet penetration and the rise in the adoption of smart devices coupled with an increase in the adoption of BYOD policy. Furthermore, the rise in the adoption of business process automation is anticipated to drive market growth. However, lack of technology readiness in various underdeveloped nations acts as a prime restraint of the market. On the contrary, the emergence of digital platforms and rise in investment in digitization are anticipated to provide lucrative opportunities for the expansion of the digital pen market during the forecast period.
The report segments the digital pen market on the basis of platform type, technology, end-user, and region. By platform type, the market is categorized as Android, iOS, and windows. By technology, it is segmented into camera digital pen, accelerometer digital pen, trackball digital pen, and others. By end-user, it is fragmented into BFSI, healthcare, manufacturing, government, IT & telecom, and others. Region-wise, the digital pen market trends are analyzed across North America (the U.S., Canada, and Mexico), Europe (the UK, Germany, France, Italy, and the rest of Europe), Asia-Pacific (China, India, Japan, Australia, and the rest of the Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa).
The key players operating in the market include Apple Inc., Canon Inc., Hanvon Technology Co. Ltd, HP Enterprise Development, Livescribe Inc., Moleskine, NeoLab Convergence, Inc., Toshiba Corporation, Wacom, and Xcallibre.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the digital pen market analysis from 2020 to 2030 to identify the prevailing digital pen market opportunities.
- Market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier-buyer network.
- An in-depth analysis of the digital pen market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global digital pen market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Platform Type
- Android
- Ios
- Window
By End User
- Bfsi
- Healthcare
- Manufacturing
- Government
- It Telecom
- Others
By Technology
- Camera Digital Pen
- Accelerometer Digital Pen
- Trackball Digital Pen
- Others
By Region
- Asia-Pacific
- China
- Japan
- India
- Australia
- Rest Of Asia Pacific
- North America
- U.S.
- Canada
- Mexico
- Europe
- United Kingdom
- Germany
- France
- Italy
- Rest of Europe
- LAMEA
- Latin America
- Middle East
- Africa
Key Market Players
- Moleskine
- Apple Inc.
- Canon Inc.
- Hanvon Technology Co. Ltd.
- HP Enterprise Development
- livescribe inc.
- NeoLab Convergence, Inc.
- Toshiba Corporation
- Wacom
- Xcallibre
Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: DIGITAL PEN MARKET, BY PLATFORM TYPE
CHAPTER 5: DIGITAL PEN MARKET, BY TECHNOLOGY
CHAPTER 6: DIGITAL PEN MARKET, BY END USER
CHAPTER 7: DIGITAL PEN MARKET, BY REGION
CHAPTER 8: COMPANY LANDSCAPE
CHAPTER 9: COMPANY PROFILES
LIST OF TABLES
LIST OF FIGURES
Executive Summary
According to this report titled, 'Digital Pen Market,' the digital pen market size was valued at $586.20 million in 2020 and is estimated to reach $2.3 Billion by 2030, growing at a CAGR of 14.7% from 2021 to 2030.The digital pen is a writing application equipped with a battery and scanning solution that allows users to capture handwritten documents and drawing in digital form. Further, few digital pens are equipped with handheld scanners that are intended to use optical character recognition to turn printed text into editable text on computer applications. In addition, the rise in the utilization of smart infrastructure solutions such as smart pens and digital art pens across commercial and manufacturing sectors is anticipated to drive the digital pen market.
The growth of the digital pen market is majorly driven by the growth in internet penetration and the rise in the adoption of smart devices coupled with an increase in the adoption of BYOD policy. Furthermore, a rise in the adoption of business process automation is anticipated to drive market growth. However, lack of technology readiness in various underdeveloped nations acts as a prime restraint of the market. On the contrary, the emergence of digital platforms and a surge in investment in digitization are anticipated to provide lucrative opportunities for the expansion of the digital pen market during the forecast period.
The outbreak of COVID-19 has significantly impacted the digital pen market share owing to a significant impact on prime market players. Conversely, the rise in demand for cheap digital pen and IoT-based smart applications, such as smartphone-based applications escalated the demand for digital pen solutions during the pandemic. However, the lack of availability of a professional workforce due to partial and complete lockdown implemented by governments restrained the growth of the digital pen market. On the contrary, the emerging economies significantly witnessed the need for a smart infrastructure solution that is expected to boost the digital pen market growth post-pandemic.
The report segments the digital pen market on the basis of platform type, technology, end-user, and region. By platform type, the market is categorized as Android, iOS, and windows. By technology, it is segmented into camera digital pen, accelerometer digital pen, trackball digital pen, and others. By end-user, it is fragmented into BFSI, healthcare, manufacturing, government, IT & telecom, and others. Region-wise, the digital pen market trends are analyzed across North America (the U.S., Canada, and Mexico), Europe (the UK, Germany, France, Italy, and the rest of Europe), Asia-Pacific (China, India, Japan, Australia, and the rest of the Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa).
As per the digital pen market analysis, the android segment was the highest contributor in 2020, due to a surge in the adoption of smartphones application. The camera digital pen and trackball digital pen segments collectively accounted for around 59.8% market share in 2020. The surge in adoption of next-generation IoT solutions has led to the growth of the android segment; thereby, enhancing the digital pen industry growth.
Country-wise, the U.S. holds a significant share in the global digital pen market, owing to the presence of prime players that continuously put resources into action to develop digital pen solutions. The adoption of next-generation IoT devices across prime sectors has strengthened the growth of the digital pen market in the region.
Key findings of the Study
- In 2020, the android segment accounted for maximum revenue and is projected to grow at a notable CAGR of 21.5% during the forecast period.
- The camera digital pen and trackball digital pen segments together accounted for around 59.8% of the digital pen market trends in 2020.
- The healthcare segment is projected to grow at a CAGR of 24.1% during the forecast period.
- North America contributed for the major share in the digital pen market, accounting for more than 35.5% share in 2020.
Companies Mentioned
- Moleskine
- Apple Inc.
- Canon Inc.
- Hanvon Technology Co. Ltd.
- HP Enterprise Development
- livescribe inc.
- NeoLab Convergence, Inc.
- Toshiba Corporation
- Wacom
- Xcallibre
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 301 |
| Published | March 2022 |
| Forecast Period | 2020 - 2030 |
| Estimated Market Value ( USD | $ 2.33 billion |
| Forecasted Market Value ( USD | $ 5.78 billion |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
