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Digital pens are the input devices that are essentially used to scan the text on paper and capture handwritten information. Digital pens are equipped with different features such as touch sensitivity, memory, input buttons, and electronic erasing capability. Smart pens with multi-ink cartridges equipped in them are widely popular among sketch artists. Consumers largely prefer to buy digital pens that are compatible with multiple surfaces such as paper, blackboard, and smart screens to capture digitally formatted handwritten data as per their needs.
Nowadays, associated companies are focusing on establishing partnerships with local stationery manufacturers in different countries across the globe to provide an enhanced digital writing experience to the users. For instance, in June 2019, Wacom, a digital technology-based products company, partnered with Staedtler Mars GmbH & Co. KG., a world’s leading manufacturer of stationery products, to develop a 2 in 1 digital pen where users can experience both analog and digital handwriting in a single pen.
Regular introduction of innovative digital pens by the associated companies is likely to attract people towards buying them thereby, driving the market growth. For instance, in January 2021, The Samsung Group, a global consumer electronics giant, launched Bluetooth-technology-based S Pen Pro, a smartpen in the Indian market. Additionally, the rising adoption of smart classroom facilities among educational institutions worldwide is likely to ease the demand for products such as smart screens, digital pens, projectors, and others among such institutions.
Moreover, the uncertain occurrence of COVID-19 lockdown restrictions in many countries across the globe is likely to ease indoor leisure activities such as drawing and sketching among school kids worldwide. This will drive the demand for smart pencils and pens among school kids. Patients suffering from mobility issues widely use touch-sensitivity feature-based smart pens to capture their real-time physical conditions. The market is expected to grow in the future because of such a product’s advantage in the healthcare sector.
However, large necessities of the R&D investments in developing digital ink-based cartridges for such pens by the associated companies are anticipated to restrain the market growth. Additionally, the higher cost of digital pens is expected to limit their demand in the future.
Key Market Driver -
Regular introduction of innovative digital pens by associated companies is expected to drive market growth.
Key Market Restraint -
Large necessities of R&D investments in the development of the digital inks are anticipated to restrain the market growth.
The prominent players associated with the global digital pen market are I.R.I.S. SA, Anoto, Livescribe Inc., Luidia, Inc., Lenovo, HiSoUR, NEO SMARTPEN Copyright, Inc., Apple Inc., Moleskine, WRS Health, Xcallibre, The Shaper Image, and others.
The global digital pen market is segmented based on product type, category, application, and geography.
Based on the product type, the market is segmented into handwriting pens and scanning pens. The handwriting pen segment is expected to hold a major share of the market owing to the availability of a variety of pens such as a trackball, camera, position, and active pens under handwriting type of digital pens. This results in larger revenues from such a segment. Additionally, the growing usage of such kinds of pens for educational purposes is further driving segmental growth.
By category, the global market is segmented into wired and wireless. The wireless segment is expected to hold a major share of the market as users can use such digital pens conveniently over wired pens. This results in large demand for wireless digital pens among consumers. Additionally, regular introduction of the Bluetooth-technology-based wireless, digital pens is likely to attract people towards buying them thereby, driving segmental growth.
By Application, the market is segmented into healthcare, education, media & entertainment, and others. The healthcare segment is expected to hold a major share of the market owing to the regular necessities of the health monitoring devices such as digital watches, digital pens, and others among patients suffering from mobility issues. Additionally, higher prices of such kind of health monitoring products over other application areas result in larger revenues from such a segment.
By geography, the global digital pen market is segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa.
The largest share of the North American region is attributed to the presence of prominent digital pen manufacturing companies such as Luidia, Inc., Livescribe Inc., NEO SMARTPEN Copyright, Inc., and others in the United States and Canada. This will ease the provision of digital pens by these companies, thereby driving the region's market growth.
People widely use high-end digital pens to prepare written documents on tablet devices. Therefore, the growing expansion of the tablet manufacturing companies in the countries such as the United States and Canada is further likely to drive the consumption rate of the digital pen among the population in the region. For instance, in October 2020, XXPEN TECHNOLOGY CO. owned XP-PEN, a world’s leading brand of digital painting products such as pen, pencils, and others partnered with LINE FRIEND, a fastest growing pen tablet brand of a parent company, LINE Friend Corporation, to expand its business in the U.S.
Digital pens, smart screens, and tablet devices are widely used among school students in their daily learning needs in smart classrooms. Asia Pacific region is expected to grow at a faster rate for the global market owing to the favorable government support regarding the development of smart classroom infrastructural facilities in the countries such as India and China. This is likely to ease the consumption rate of digital pens among the population in the region. For instance, in October 2020, the Ministry of Electronics and IT, Government of India proposed a plan to turn 1.2 million schools across 600,000 Indian villages into smart classrooms. Moreover, the rising adoption of innovative and multi-purpose electronic devices among the region’s population is further driving the market growth in the region.
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