Market Analysis
The worldwide digital pen market size will contact USD 2,044.8 million at a 17.5% CAGR between the figure time frame 2019-2024. A digital pen, basically, is an information gadget that aides in penmanship acknowledgment and converts the data that is written by hand into digital information. For the most part, it is utilized alongside a PC, permitting visual architects to make workmanship on PC, and tablets.
Different variables are fuelling the worldwide Digital Pen Market Size size. As per the new MRFR market gauges, such factors incorporate the interest for digitized notes, expanding request in the instructive and medical care area, expanding utilization of intelligent whiteboards for intuitive getting the hang of, charming highlights, for example, information sharing, information change into sound based text, and sound recording, the approach of digital stages in distributed storage, shrewd gadgets, and banking, rising extra cash, expanding use in plan and fine arts, and expanding reception of digital learning devices.
Running against the norm, the effect of the COVID-19 episode and the significant expense of digital pens for the incorporation of numerous elements that needs broad equipment joining are factors that might obstruct the worldwide digital pen market development over the figure time frame.
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Market Segmentation
The MRFR report highlights an inclusive segmental analysis of the global digital pen market size based on end user, application, and type.
By type, the global digital pen market is segmented into trackball-based digital pen, positioned digital pen, accelerometer-based digital pen, camera-based digital pen, and active digital pen. Of these, the active digital pen will lead the market over the forecast period.
By application, the global digital pen market is segmented into communication, billing and back-office, clinical documentation, and others. Of these, clinical documentation will dominate the market over the forecast period.
By end user, the global digital pen market is segmented into education, IT and telecom, government, healthcare, BFSI, and others. Of these, the BFSI segment will spearhead the market over the forecast period.
Regional Analysis
By region, the global digital pen market covers the growth opportunity and recent trends across Europe, North America, the Asia Pacific (APAC), Central and South America, and the Middle East and Africa (MEA). Of these, North America will dominate the market over the forecast period. Presence of tech-savvy citizens, adoption of smart devices such as digital notebook, android devices, audio recordings and mobile app in Canada and the US, the advent of digital textbooks, use of digital pens by the police to generate crime and intelligence reports, adoption of e-notes and e-exams, and the presence of leading manufacturers are adding to the global digital pen market growth in the region.
In the APAC region, the global digital pen market is predicted to have healthy growth over the forecast period. Increasing use of digital pens by companies to save time and effort, the focus of the government to go completely digital, and growing demand in India, China, and Japan are adding to the global digital pen market growth in the region.
In Europe, the global digital pen market is predicted to have sound growth over the forecast period. Rapid adoption in different sectors such as BFSI, IT and telecom, education, and healthcare and an increase in digital pen suppliers are adding to the global digital pen market growth in the region.
In Central and South America and the MEA, the digital pen market is predicted to have steady growth over the forecast period.
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Key Players
Key contenders profiled in the digital pen market analysis report include NEO SMARTPEN Inc. (South Korea), Luidia, Inc. (US), Microsoft Corporation (US), Novo Nordisk (Denmark), IRIS SA (China), Anoto Group AB (Sweden), XCALLIBRE (South Africa), Wacom (Japan), Toshiba Corporation (Japan), NeoLab Convergence, Inc. (South Korea), Moleskine (Italy), HP Enterprise Development (US), Hanvon Technology Co. Ltd (China), Canon Inc.(Japan), and Apple Inc. (US).
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