Global Digital Pens Market By Type, By Application, By Region, and Key Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends and Forecast 2022-2032

Report Overview

Digital Pens Market growth is expected to be influenced by the increasing need to digitize businesses in many sectors, including healthcare, education, retail, and banking. As proven, digitization can increase productivity and give you an advantage over competitors. Due to its significant impact on prime digital pens market players, COVID-19 has had a major impact on the Global Digital Pens Market share. However, during the pandemic, there was a surge in demand for inexpensive digital pens and IoT smart applications (such as smartphone-based apps), a rise in demand for digital pen solutions.

Global Digital Pens Market Scope:

Product Analysis

Handwriting pen was responsible for more than 65% of the market share in 2021. These products are extremely beneficial in managing analog inputs. The product is versatile and precise and can be used in various industries, including banking, healthcare, and retail. This product has many advantages due to the collaboration of multiple sensors, such as IR camera pressure sensitivity, positional sensors, accelerometers, and positional sensors. These devices allow users to capture text, drawings, and notes, then transfer them to a computer.

Due to its portability and simple USB-based powering system, the scanning pen will register the fastest CAGR at 13.0% between 2023 and 2032. The scanning products are compatible with more than 35 languages. They recognize numbers and text in English, German, Mandarin, Spanish, and French. These pens are compatible with many tools, including Word, Excel, PowerPoint, and other common ones.

Usage Analysis

Tablets are the most popular device in the market, with 55% of the Digital Pens market as of 2021. They also have the highest projected CAGR of 13.1%. The rise of the commercial sector, especially offices, and the increase in colleges and universities has led to greater use of tablets for smart presentations and digital notes. These are done mainly on laptops or desk computers. This has driven the demand for the digital pen segment. According to the National Center for Education Statistics, nearly 3,990 postsecondary institutions confer degrees in the United States in 2020-2021. This large number of institutions is favorable to the growth of this market.

Rapid digitization has also led to a shift in the writing styles in education and leisure settings. This has resulted in a decrease in the traditional pen and paper and, consequently, a rise in laptops. The popularity of pen-and-paper technologies in vertical markets like healthcare and manufacturing is also a major factor. Both of these industries heavily use standard forms. These environments are driving the adoption of the digital pen for laptops and PCs.

End User Analysis

The largest share, 20.2%, was attributed to the healthcare sector in 2021. Most hospitals and pharmacies accept the product. The industry has recognized the value of electronic medical records regarding patient safety, and the product was quickly adopted. The combination of Bluetooth, optical smart devices, electronic circuits, and Bluetooth has revolutionized digitization. It makes it easier to store every piece of information about patients. Many products can be made wireless to allow for easy locomotion.

Due to the changing environment in which the sector strives to provide better customer service, the BFSI sector will see the fastest growth of 14%. It also reduces the time and labor required to transfer data from analog to digital. Most banks are rapidly adopting integrated solutions that combine tablets and digital pens. Citibank Korea Inc., for instance, announced in July 2016 a paperless and more convenient way to open accounts. Customers can complete the forms from their mobile smart devices. They can submit their signatures to the branch via Wacom tablets or digital pens.

Key Market Segments:

By Product

• Scanning Pen
• Handwriting Pen

By Usage

• PC
• Tablet
• Smartphone

By End User

• BFSI
• Healthcare
• Government
• Media & Entertainment
• Education
• Retail
• Other End Users

Market Dynamics:

The Global Digital Pens Market growth was impeded by the inability to find a skilled workforce, which was caused by partial and complete lockdowns by the governments. The emerging economies, on the other hand, recognized the need for smart infrastructure solutions to boost digital pens market growth after the pandemic.

Global Digital Pens Market have been used in animation for many years. This trend will not slow down in the future. Companies are launching digital pens to help students and professionals in the creative arts field. Wacom Cintiq 16 for students was launched in January 2019 to help them with digital sketching, drawing, and illustration. Wacom’s Pro Pen 2 technology is embedded in the product. The product has an 8,185 level of tilt and pressure sensitivity, making it accurate and precise. The built-in Electro-Magnetic Resonance is another important technology. This eliminates the need to recharge batteries. These innovations will increase product internet penetration and market growth over the forecast period.

Due to the increasing use of e-learning apps and sites among students of all ages, the product is seeing significant growth worldwide. E-educators are working to offer education online, which offers more convenience for students than traditional offline education.

Because it obscures the written content, the traditional blackboard method is inefficient. The digital pen is an effective alternative to chalks and provides clarity to the content. These products quickly transform the points that have been scribbled into digital mode from analog to digital, which makes it easier to see on the screen and faster than other methods.

The implementation of supportive government policies for digitalization in emerging countries, such as China and India, will push the healthcare and BFSI sector to adopt the digital pen to ensure error-proof data collection. Banks use these objects to convert paper data into digital format, making it easier for them to maintain customer information. The digital pen can also edit stored data easily whenever needed.

Regional Analysis

North America was the largest, accounting for over 35.0% terms of larger revenue in 2021. Digital Pens Market growth is due to the rapid adoption of the digital pen by countries like the U.S. and Canada, which the increased use of digital technology in most businesses has influenced. The U.S. is home to the majority of major manufacturers, and this has influenced the market.

The U.S. education industry has been driving industry growth. Students can take notes with the digital pen and share them digitally. Digital textbooks and notebooks have made it interactive. To improve the education sector in America and Canada, many schools have adopted e-exams/e-notes. This is accelerating market growth.

Asia Pacific region will be the fastest-growing Digital Pens Market, with a CAGR of 13.8% between 2022 and 2032. Countries like South Korea and China have created products that work in a similar way. They are also affordable to the general public at a low price. This has led to the product’s growing popularity. The smart device is also popular in China, India, and Japan, where the government tries to go completely digital. This has led to market growth.

Key Regions and Countries covered in the report:

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Russia
  • Spain
  • Rest of Europe
• APAC
  • China
  • Japan
  • South Korea
  • India
  • Rest of Asia-Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • GCC
  • South Africa
  • Israel
  • Rest of Middle East & Africa

Market Share & Key Players Analysis:

This market is still young, and new players are entering the market. Other key players are also planning to launch products because of the growing popularity of technologically advanced products worldwide.

• The company’s latest model, the Moto G Stylus (2022), was launched in January 2022. It comes with a stylus pen and is the company’s latest model. Moto G Stylus (2022), which comes with a preloaded Moto Note application, allows you to write notes without unlocking your phone. You can use the stylus to capture and edit screenshots with a preloaded Screenshot Editor or draw sketches using a preloaded Coloring Book application. The Moto G Stylus (2022) can also deliver up to 2 days of battery life from a single charge.
• Samsung introduced the S Pens Pro in January 2021. This is a larger, pencil-sized version of the S Pen. It’s easier to hold and use. This is compatible with the Samsung Galaxy S21 Ultra 5Glink, The first Galaxy S21 Ultra 5G handset to support stylus use. The phone does not include a stylus slot. However, S Pens can be purchased separately to use the display.
• Doxper announced in April 2020 the launch of an AI-powered digital pen and an encoded paper solution. This new product will allow doctors to digitize patient records. The solution is easily deployable at all COVID-19 testing and screening facilities. This ensures that accurate, real-time data can be digitized and updated immediately.

Market Key Players:

• Kent Displays,
• ACECAD Digital Corp.,
• Livescribe Inc.,
• Luidia, Inc.
• Moleskine S.p.A.,
• Apple Inc.,
• Toshiba Corporation
• Convergnece, Luidia inc.
• IRIS S.A.,
• Wacom Co., Ltd.,
• Microsoft Inc.
• Other Key Players

For the Digital Pens Market research study, the following years have been considered to estimate the market size: