Digital Pen Industry Overview
The global digital pen market is expected to reach USD 6.29 billion by 2030, at a CAGR of 13.3% according to a new report by Grand View Research, Inc. The growth of the 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.
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.
Digital Pen Market Segmentation
Grand View Research has segmented the digital pen market based on product, usage, end-user, and region.
Based on the Product Insights, the market is segmented into Scanning Pen and Handwriting Pen
- Handwriting pen accounted for a share of more than 70.0% in 2021. These products have been proven to be exceptionally beneficial in managing analog input systems.
- Additionally, the product is considered to be versatile, precise, and beneficial in various industries including healthcare, education, banking, and retail.
- The collaboration of various sensors in the device including IR cameras, pressure sensitivity, positional sensors, and accelerometers, has bestowed the product with enormous benefits.
- The scanning pen is expected to register the fastest CAGR of 13.4% from 2022 to 2030 owing to its portability and simplified USB-based powering system.
Based on the Usage Insights, the market is segmented into PC, Tablet, and Smartphone
- Under the usage section, tablets occupy the highest market of 58.6% as of 2021 and also projects the highest CAGR of 13.8%.
- Increasing growth in the commercial sector, particularly offices, as well as a rise in the number of colleges and universities, has heightened the trend of smart presentations and digital notes in day-to-day life.
- Most of these are done through laptops and desk computers, driving the uptake of digital pens in this usage segment.
- Moreover, with rapid digitization, the modes of writing have changed in educational and leisurely settings, leading to an increasingly marginalized use of traditional pen and paper and subsequently boosting the adoption of PCs and laptops.
Based on the End-user Insights, the market is segmented into BFSI, Healthcare, Government, Media & Entertainment, Education, Retail, and Others
- Healthcare accounted for the largest share of 23.1% in 2021. The product is widely accepted by the majority of hospitals and pharmacies.
- The industry has understood the value of electronic medical records concerning the patient’s safety and thus, adopted the product rapidly.
- The BFSI sector is expected to witness the fastest growth, of 14.5% owing to the rapidly changing environment of the sector to improve customer services.
Digital Pen Regional Outlook
- North America
- Europe
- Asia Pacific
- Central & South America
- Middle East & Africa (MEA)
Key Companies Profile & Market Share Insights
The market is still in its nascent stage, where new entrants are launching products and other key players in the market are planning to launch their products due to the increasing popularity of these technologically advanced products across the globe.
Some prominent players in the global Digital Pen market include:
- IRIS S.A.,
- Lucidia Inc.,
- Kent Displays,
- Wacom Co., Ltd.,
- ACECAD Digital Corp.,
- NeoLAB Convergence Lab,
- Livescribe Inc.,
- Moleskine S.p.A.,
- Apple Inc.,
- Microsoft Inc.
Order a free sample PDF of the Digital Pen Market Intelligence Study, published by Grand View Research.
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