Global Digital Pen Market is Estimated to Reach $4.3 Billion by 2024, Says Accurize Market Research


Global Digital Pen Market is Estimated to Reach $4.3 Billion by 2024, Says Accurize Market Research

Global Digital Pen Market report published by Accurize Market Research forecast that the global market is expected to reach $4.3 billion by 2024; growing at a CAGR of 17.6% from 2017 to 2024. By geography, Asia Pacific and North America are expected to grow at a CAGR of XX% and XX%, respectively, during the forecast period.

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Increasing popularity of digital learning driving the global market

Technological advancements demand for innovative pens, rising use of pens in arts and designing, and growing digital learning are some of the factors boosting growth of the global digital pen market. Moreover, market expansion and advancements in feature could provide future scope for competitors. However, high expense of these pens may hamper the adoption in forecast periods.

Market Segmentation

The global digital pen market is split into platform, technology, application, and geography. Platform is divided into android, windows, and IOS. Technology segment is bifurcated into camera, accelerometer, active, position, trackball, and others. Application segment is categorized into communication, education and clinical documentation, among others.

North America, Europe, Asia-Pacific and rest of the world (RoW) are the geographical segments of the market. North America is further bifurcated into countries namely; U.S., Canada and Mexico. Europe covers countries like Russia, U.K., Germany, France, Italy and Rest of Europe. Asia-Pacific covers China, India, Japan, South Korea and Rest of Asia Pacific. Rest of the World (RoW) covers South America, Middle East and Africa.

"IOS and android accounted for the largest market share in the platform segment", says Accurize

In the platform segment, IOS and android accounted for the supreme segment share in 2017. Clinical documentations and education subjugated the application segment with largest market share. Furthermore, active held the major segment share in technology and is also expected to grow with the fastest CAGR.

"North America dominated the global market with the highest market share over the forecast period", says Accurize

North America held the major market share with 49.5%, followed by Europe with 23.1%. Asia-Pacific is expected to attain the fastest CAGR, due to increased implementation of advanced technologies, rise in disposable income, and rising R&D activities.

Top players in the market

Major companies active in the market include Toshiba Corporation, E-pens Ltd., Apple Inc., Canon Inc., Wacom Co. Ltd., Hewlett-Packard Company, Logitech International S.A., and Hanvon Technology Co.Ltd, among others.

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