The global digital pen market is expected to grow at a CAGR of 17.6% during 2016 – 2022. The increasing number of mergers and acquisitions, deployment of digital learning, and increasing use of digital pen in art and designing works are some of the major trends observed in the global market. The global digital pen market is driven by factors, such as growing disposable income, and increasing use of digital pen to eliminate paper work. Moreover, the technological advancement and advanced features of digital pens, and their increasing use for reducing deception are also driving the growth of the global market. The massive unexplored market across the globe is the key factor offering immense growth opportunities for the global digital pen market.
Digital pen refers to the use of electronic and smart pens in various industries, such as healthcare; banking and finance; IT & communication; and others. The digital pen technology captures electronically handwritten context and transform into digitized forms.
Among the various platforms, the iOS-based digital pen segment held the largest market share in the global market in 2015, and is also expected to witness the fastest CAGR during 2016- 2022. In 2015, North America dominated the global digital pen market; whereas Asia-Pacific is growing at a rapid pace, due to low manufacturing cost, and availability of skilled manpower in the developing countries of the region.
The major companies operating in the global digital pen market include Hewlett-Packard Company, Microsoft, Anoto Group AB, Wacom Co. Ltd., Toshiba Corporation, Canon Inc., e-pens Ltd., and Logitech International S.A.
News Courtesy: P&S Market Research