Yahoo Finance Asia Pacific region is expected to demonstrate a substantial growth in the global digital pen market, with the highest CAGR values owing to the presence of emerging economies like India, China, Japan and others.
The Global Digital Pen Market size valued to USD 569. 7 million in 2021, shall garner up-to USD 1. 54 billion by 2030, with a growing CAGR of 11. 6% from 2022-2030. Digital Pen is an electronic input device which captures the analog information as well as the brush strokes created by the user into digital data, in conjunction with smart gadgets like smartphones, tablets, digital paper and others.
New York, May 25, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Digital Pen Market by Technology, by Operating System, by End User - Global Opportunity Analysis and Industry Forecast, 2022 – 2030" - https://www.reportlinker.com/p06272309/?utm_source=GNW
Digital pen comprises of internal electronic structure with key components viz. Bluetooth transceiver, image processor, ink cartridge and force sensor; offering features such as touch sensitivity, input buttons, memory for data storage and transmission capabilities. The electronic pens are larger than active pens, plus, they are assembled with more hi-tech features like built in scanners, character recognition software and many more.
Market Dynamics and Trends
The global digital pen market is on a spur, observing a gigantic flow of new opportunities, owing to the upsurge in automation and digitization at the global level, in numerous platforms such as educational system, business & trade, banking sector and other industry verticals. Besides, digital pens are easy-to operate as well as they ensure error-proof database collection, in both digital and cloud storage.
Furthermore, factors such as increase in internet penetration, higher adoption of AI & IoT technologies, and increasing dependency on smart gadgets, especially smart devices, are anticipated in propelling the growth of the digital pen market, over the forecast period.
However, factors such as cost effectiveness and lack of proper implementation of advanced technology in underdeveloped nations, are expected to restrict the digital pen market growth during the forecast period.
Moreover, growing investments by regulatory bodies in building digital infrastructures, specifically in emerging economies, technological evolution with advent of digital platforms at various industry verticals, emerging concepts of e-learning in the educational sector, are paving the way for new opportunities in the global digital pen market.
Market Segmentations and Scope of the Study:
The global digital pen market share analysis is based on technology, operating system, enduser and geography. Based on technology, the market is fragmented into Camera Digital Pen, Accelerometer Digital Pen, Trackball Digital Pen, and Others. Based on operating system, the market is identified into Android, iOS and Windows. Based on end user, the market is divided into BFSI, Healthcare, Manufacturing, Government, IT& Telecom and Other Industries. Geographic breakdown and analysis of each of the previously mentioned segments include regions comprising North America, Europe, Asia-Pacific, and RoW.
Geographical Analysis
North America region has been the fore-runner in the global digital pen market, and is anticipated in maintaining its dominance in the global market, throughout the forecast period, accounting for the highest market shares. This is attributed to increasing infusion of digital technologies in the main-stream, adoption of digital pen on a large scale, specifically in the educational sector as well as presence of key players in this region.
Asia Pacific region is expected to demonstrate a substantial growth in the global digital pen market, with the highest CAGR values owing to the presence of emerging economies like India, China, Japan and others. The market in this region is driven by factors such as increasing in per-capita disposable income, growing internet penetration, rising integration of smart devices, and emerging trend of bring-your-own-device at various organizations.
Competitive Landscape
The digital pen market, which is highly competitive, consists of various market players. Some of the major market players include HP Inc., Apple Inc., Microsoft Corporation, Wacom Co. Ltd., Anoto Group AB, Canon Inc., Toshiba Corporation, STAEDTLER Mars GmbH & Co. KG, NeoLAB Convergence Inc., Hanwang Technology Co. Ltd., Moleskine S.p.A. and Luidia Inc. among others.
The key players are employing strategies such as joint ventures, technical collaboration, capacity expansion, mergers, and acquisition in-order to gain stronger position in the digital pen market. For instance, in November 2019, Wacom Co., Ltd. – joined by partners from around the world –hosted the ‘Connected Ink’ event in Tokyo, to promote the innovation and wide adaptation of digital stationery. The event introduced new values in the education, business, creative community, and stationery segments by connecting the power of digital pen/ink/paper with AI, IoT and 5G technologies.
Furthermore, the key player of global digital pen market, Microsoft 365 to make work and play more intuitive and natural with innovations in voice, digital ink, and touch, in the mid-2020. The Ink Editor makes editing the documents easier and natural with the expressive ink comments and easy entry to dictation in comments, on devices with a touch interface and/or supported microphone. With its intelligent capabilities, the ink editor aims at making work and education more fun.
KEY MARKET SEGMENTS:
- Global Digital Pen market – By Technology
- Camera Digital Pen
- Accelerometer Digital Pen
- Trackball Digital Pen
- Others
- Global Digital Pen market – By Operating System
- Android
- iOS
- Windows
- Global Digital Pen market –By End User
- BFSI
- Healthcare
- Manufacturing
- Government
- IT& Telecom
- Other Industries
- Global Digital Pen market –By Geography
- North America
- U.S.
- Canada
- Mexico
- Europe
- UK
- Germany
- France
- Italy
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- Australia
- Rest of Asia-Pacific
- RoW
- Latin America
- Middle East
- Africa
Read the full report: https://www.reportlinker.com/p06272309/?utm_source=GNW
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