The global Digital Pen Market size is expected to reach USD
3.0 billion by 2025, according to a new report by Grand View Research, Inc.,
expanding at a CAGR of 10.4% over the forecast period. Growing application of
digital pen in the field of animation and entertainment as it assists in
editing photos and videos, along with creating 3D painting, is expected to have
a positive impact on the market growth. These devices are capable of providing
a depth to the artwork by making it vibrant and realistic. Furthermore, digital
pen finds its use among students and artists as it provides versatility in
performing various functions such as drawing, doodling, editing, and note
taking.
Shifting trend towards the use of digital pen among
students with limited learning is generating the demand for the product. It has
been proven to be beneficial for students who are struggling with note taking
and comprehension. In 2011, UC Berkeley Disabled Students Program conducted a
pilot test of 40 disabled students by providing Livescribe Echo smart pen for
taking notes. The results revealed that the students became capable of
recording audio, along with converting the handwritten notes into digital
format. Later, the audio version can be used by students for review and cross
checking. Therefore, the afore-mentioned features of digital pen are expected
to promote their utility among students for their course curriculum.
One such product specifically launched for art
students and creative professionals and enthusiasts is Wacom Cintiq 16. It was
launched in January 2019 to assist the students in digital sketching,
illustration, and drawing. The product is embedded with Wacom's Pro Pen 2
technology. It has 8,192 levels of pressure sensitivity and tilt, which makes
it precise and accurate. Another very important technology built in it is EMR
(Electro Magnetic Resonance), which removes the need for batter and recharge
completely.
Some of the key players are I.R.I.S., Luidia, Sony,
Livescribe, Kent Displays, Wacom, e-Pens, ACE CAD, Neo Smart Pens, and Neo
Slate. The industry participants are projected to increase their spending on
the development of new products in order to expand their market share.
Additionally, expansion of middle-income population groups in emerging
economies including China and India on account of urbanization and increasing
employment opportunities from the service sector at a domestic level is
expected to open new avenues for the market.
Request a free sample copy or view report summary: Digital Pen Market Report
Digital Pen Market Report Highlights
- By product, handwriting pen accounted for more than 70.0% in 2018
due to growing product awareness among students and professionals.
Scanning pen is expected to register the fastest CAGR of 10.8% from 2019
to 2025
- By application, the BFSI sector is expected to generate a revenue
of exceeding USD 400.0 million by the end of 2025 due to rapid adoption of
the device in major banks across the world as an endeavor to go digital
- The healthcare sector accounted for more than 20.0% share of the
global digital pen market revenue in 2018
- Asia Pacific is expected to register the fastest CAGR of 11.4%
from 2019 to 2025
About Us:
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415- 349-0058
Toll Free: 1-888- 202-9519
Email: sales@grandviewresearch.com
For More Information: https://www.grandviewresearch.com
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415- 349-0058
Toll Free: 1-888- 202-9519
Email: sales@grandviewresearch.com
For More Information: https://www.grandviewresearch.com
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