SHARE
Digital Pen Market

Digital Pen Market Forecasts to 2028 – Global Analysis By Platform (Android, Windows, iPhone Operating System (iOS)), Category (Wired, Wireless), Technology (Active Digital Pen, Accelerometer Digital Pen, Positional Digital Pen), and By Geography

4.9 (44 reviews)
Published: March 2022 ID: SMRC18652
4.9 (44 reviews)
Published: March 2022 ID: SMRC18652

This report covers the impact of COVID-19 on this global market

According to Stratistics MRC, the Global Digital Pen Market is accounted for $616.85 million in 2021 and is expected to reach $1640.82 million by 2028 growing at a CAGR of 15.0% during the forecast period. Digital Pens are pen like structure that help in writing digitally. A digital pen is an input device that captures handwriting of the user and converts the handwritten information into digital data. It is usually used in conjunction with a computer, enabling graphic designers to create art on tablet PCs. Some companies have manufactured advanced wireless high-end digital pens equipped with Bluetooth technology to transfer data into computers. These pens usually come with USB which means universal serial bus which helps in cradling the handwritten notes to a personal computers or laptops. These pens require digital papers, which can look like sticky note or a traditional pad. Digital pens are also called electronic pens because of its nature of capturing handwritten notes digitally. These are at a greater extent bigger that the normal pens but looks like traditional pens. Android based digital pens have a wider user base which is followed by windows operating systems. Digital pens are packed with electronic circuits, and Bluetooth. The digital pens have ink refills which leave ink trails on the page and infrared LED detects it.

Market Dynamics:

Driver:

Growing inclination from healthcare industry


Increasing demand for digital pens in various sectors, including healthcare, is enhancing the growth of the digital pen market. In healthcare, digital pens enable capturing precise and reliable patient data digitally, especially in the areas of physiotherapy, occupational therapy, and midwife services. This information is time-stamped and is automatically sent to an EMR or hospital medical system for further processing.

Restraint:

High cost


The high cost associated with these pens due to the integration of multiple features, which requires extensive hardware integration is hampering the growth of the market. Also, these pens are not suitable for usage for longer hours as these need to be charged at regular intervals. Moreover, 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.

Opportunity:

Increasing utilization in educational sector for interactive learning


In this digital educational era, digital pen is seen as a valuable device for students as well as teachers and are replacing books, traditional pens, and other tools of learning for better understanding and convenience. Also, the increasing usage of digital pens on interactive whiteboards for interactive learning is propelling the growth of this market. Moreover, various features of this pen, including audio recording, data sharing, and data transformation into audio-based text, are driving the growth of the digital pen market across the world. Moreover, the advent of digital platform in educational applications, including smart class and cloud storage is expected to create abundant opportunities for digital pen market in the coming years.

Threat:

Lack of technology readiness


One of the barriers for using digital technologies in the higher education classroom is instructor’s lack of knowledge/skill about technology. Developing the skills required for the use of digital technologies which play important roles in education brings instructors’ professional success. Due to lack of technology readiness in various underdeveloped nations such as Africa, Ethiopia, and others restrict the adoption of digital pen in these markets.

The banking financial services and insurance (BFSI) segment is expected to be the largest during the forecast period

The banking financial services and insurance (BFSI) segment is estimated to have a lucrative growth. The growing use of online banking services is positively influencing the adoption of digital pens in the banking, financial services, and insurance (BFSI) sector worldwide. Digital pens help digitize documents, improve document management, cut down processing costs, enhance authentication, speed up workflow, and improve customer satisfaction.

The handwriting pen segment is expected to have the highest CAGR during the forecast period

The handwriting pen segment is anticipated to witness the fastest CAGR growth during the forecast period.  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

Region with highest share:

North America is projected to hold the largest market share during the forecast period owing to the increased usage of tablets and personal computers, and growing Internet penetration. In North America, digital pens are widely used across various industries, such as IT, telecom, education, BFSI, healthcare, etc. Several educational institutions, across the U.S. and Canada, are adopting digital books for interactive learning experience. The rapid shift towards digital pen has led to the transformation of education from conventional teaching methods to digital education. With the sudden outbreak of COVID-19 in North America, digital pens are increasingly being adopted in virtual training across several sectors, including IT, healthcare, media, banking, education, etc.

Region with highest CAGR:

Asia Pacific is projected to have the highest CAGR over the forecast period owing to the presence of large manufacturing hub of electronics, especially in China. Moreover, the favorable government support regarding the development of smart classroom infrastructural facilities in the countries such as India and China ia also a major factor for the regional growth. 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.

Key players in the market

Some of the key players profiled in the Digital Pen Market include Anoto Group AB, Apple Inc, Canon Inc, Convergene, E-pens Ltd, Hanvon Technology Co.Ltd, Hewlett-Packard Company, Microsoft, Moleskine S.p.A, Neo LAB, STAEDTLER Mars GmbH & Co.KG, Toshiba Corporation, Wacom Co. Ltd, Samsung, Edinburgh MedTech Company, and WOL3D.

Key Developments:

In January 2021, The Samsung Group, a global consumer electronics giant, launched Bluetooth-technology-based S Pen Pro, a smartpen in the Indian market.

In January 2021, Edinburgh MedTech Company, a healthcare products company secured funding of USD 1.64 million to launch a digital pen that helps patients suffering from Parkinson's in better understanding their neurological conditions.

In July 2020, WOL3D, a manufacturer of 3D printing technology-based products such as printers, filaments, and pens launched ITouch 3D Pen, a digital pen for children in India.
 
Platforms Covered:
• Android
• Windows
• iPhone Operating System (iOS)
 
Technologies Covered:
• Active Digital Pen
• Accelerometer Digital Pen
• Positional Digital Pen
• Trackball Digital Pen
• Camera Digital Pen
 
Compatibilities Covered:
• Single Operating System
• Multiple Operating System
 
Categories Covered:
• Wired
• Wireless
 
Products Covered:
• Handwriting Pen
• Scanning Pen
 
Applications Covered:
• Education
• Clinical Documentation
• Communication
• Billing & Back Office
• Retail
• Media & Entertainment
 
End Users Covered:
• Government
• IT & Telecom
• Banking Financial Services and Insurance (BFSI)
• Manufacturing
• Healthcare

Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan       
o China       
o India       
o Australia 
o New Zealand
o South Korea
o Rest of Asia Pacific   
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances

Select License Type

Allows one person to have access to the ordered product.The ordered product cannot be distributed to anyone else.
Allows the ordered product to be shared among a maximum of 5 people within your organisation.
Allows the product to be shared among all employees of your organisation at one particular location.
Allows the product to be shared among all employees of your organisation regardless of their geographical location.

WHY CHOOSE US ?

Assured Quality

Assured Quality

Best in class reports with high standard of research integrity

24X7 Research Support

24X7 Research Support

Continuous support to ensure the best customer experience.

Free Customization

Free Customization

Adding more values to your product of interest.

Safe and Secure Access

Safe & Secure Access

Providing a secured environment for all online transactions.

Trusted by 600+ Brands

Trusted by 600+ Brands

Serving the most reputed brands across the world.

Testimonials