The global digital pen market size was valued at USD 1.5 billion in 2018. Growing need to digitize business in various sectors including banking, healthcare, education, and retail is expected to have a positive impact on market growth. It has been proved that digitization enhances productivity and helps in getting an edge over the competitors.
The product is gaining significant traction across the globe owing to the rising adoption of e-learning sites and apps among students of all ages. E-educators have been striving to provide education through the online medium, thereby offering more convenience to the students as compared to the conventional offline education medium.
The conventional blackboard method has been proven to be inefficient as it provides low visibility of the written content. Therefore, the utilization of a digital pen as an alternative to chalks results in providing clarity of the content to the viewers. The points scribbled by these products are quickly turned from analog to digital mode, which is easier to be read on the screen and quicker than most of the other transformation methods.
Implementation of supportive government policies on digitalization in emerging economies, including China and India, is expected to push the healthcare and BFSI sectors to use the digital pen as a tool for ensuring error-proof database collection. For instance, banking institutions are likely to rely on these objects as they convert manual data into digital formats, which makes it easier to keep the personal information and financial transactions of their customers. Additionally, the digital pen can be used to edit the stored data easily as and when required.
Handwriting pen accounted for a share of more than 70.0% in 2018. These products have been proven to be exceptionally beneficial in managing analog input systems. Additionally, the product is considered to be versatile, precise, and beneficial in various industries including healthcare, education, banking, and retail. The collaboration of various sensors in the device including IR cameras, pressure sensitivity, positional sensors, and accelerometers, has bestowed the product with enormous benefits. These products allow the users to record text, diagrams, drawings, and quick notes by transferring it to a computer.
Scanning pen is expected to register the fastest CAGR of 10.8% from 2019 to 2025 owing to its portability and simplified USB-based powering system. Scanning products have been made compatible with more than 40 languages and can recognize texts and numbers in different languages including English, German, Mandarin, Spanish, French, and Russian. These pens exhibit excellent compatibility with various tools including the most common Word, Excel, and PowerPoint.
Healthcare accounted for the largest share of exceeding 20.0% in 2018. The product is widely accepted by the majority of the hospitals and pharmacies. The industry has understood the value of electronic medical records concerning the patient’s safety and thus, adopted the product rapidly. This combination of electronic circuits, optical devices, and Bluetooth has revolutionized the process of digitization by simplifying the process of storing every single piece of information about the patients. Many products are modified to make them wireless for the convenience of free locomotion.
The BFSI sector is expected to witness the fastest growth owing to the rapidly changing environment of the sector to improve customer services. Furthermore, it helps in reducing the labor and time consumed in the process of moving the data from analog to digital version. The majority of the banks have been rapidly adopting integrated solutions of tablets and digital pens. For instance, in July 2016, Citi bank Korea Inc. announced a completely paperless and convenient method for opening accounts. The customers can fill the forms on their device and can further submit their signature via the Wacom’s tablets and digital pens in the nearest branch.
North America was the largest market, accounting for more than 35.0% share of the global revenue in 2018. The rapid adoption of the digital pen in countries such as the U.S. and Canada as a result of increased diffusion of digital technologies in the majority of businesses is a key factor driving the market. In addition, the majority of the leading manufacturers are U.S. based and thus the market in the region has been influenced by their strong presence.
The U.S. education sector has been boosting the industry growth. The digital pen helps the students in taking notes and sharing them in the digital format easier. The advent of digital textbooks and notebooks has made the interface interactive. Many schools in the U.S. and Canada are adopting the system of e-exams and e-notes to improve the scenario of education, which is propelling the market growth consequentially.
Asia Pacific is expected to be the fastest-growing market, expanding at a CAGR of 11.4% from 2019 to 2025. Countries including China and South Korea have been creating products that function similarly but are available to the common mass at an economical price, which has resulted in the growing popularity of the product. Furthermore, the device has gained significant traction in countries including Japan, India, and China, where the government is focusing on going completely digital, thereby leading to the growth of the market.
Some of the key players in the digital pen market are I.R.I.S., Luidia, Sony, Livescribe, Kent Displays, Wacom, e-Pens, ACE CAD, Neo Smart Pens, and Neo Slate. The manufacturers of the independent digital pen are facing major competition from the manufacturers of integrated solutions, who are creating a combination of tablets and digital pens. As these do not require paper at all, they are preferred by the environmentally-conscious population segment to deter the use of paper completely.
The ideology among the majority of the manufacturers to reduce their carbon footprint is also making them adopt the device to get rid of paperwork completely. Even then, the preference for the device in certain industries has witnessed rapid growth. For instance, the use of the product in the animation industry has increased over the years and seems to be unhindered by any other upcoming technology.
Report Attribute |
Details |
Market size value in 2020 |
USD 1.79 billion |
Revenue forecast in 2025 |
USD 2.96 billion |
Growth Rate |
CAGR of 10.4% from 2019 to 2025 |
Base year for estimation |
2018 |
Historical data |
2015 - 2017 |
Forecast period |
2019 - 2025 |
Quantitative units |
Revenue in USD million/billion and CAGR from 2019 to 2025 |
Report coverage |
Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
Segments covered |
Product, application, region |
Regional scope |
North America; Europe; Asia Pacific; Central & South America; Middle East & Africa |
Country scope |
U.S.; U.K.; Germany; India; China; Japan; Brazil |
Key companies profiled |
I.R.I.S.; Luidia; Sony; Livescribe; Kent Displays; Wacom; e-Pens; ACE CAD; Neo Smart Pens; Neo Slate |
Customization scope |
Free report customization (equivalent up to 8 analysts working days) with purchase. Addition or alteration to country, regional & segment scope. |
Pricing and purchase options |
Avail customized purchase options to meet your exact research needs. Explore purchase options |
This report forecasts revenue growth at the global, regional, and country levels and provides an analysis on the latest industry trends and opportunities in each of the sub-segments from 2015 to 2025. For the purpose of this study, Grand View Research has segmented the global digital pen market report on the basis of product, application, and region:
Product Outlook (Revenue, USD Million, 2015 - 2025)
Scanning
Handwriting
Application Outlook (Revenue, USD Million, 2015 - 2025)
BFSI
Healthcare
Government
Media & Entertainment
Education
Retail
Others
Regional Outlook (Revenue, USD Million, 2015 - 2025)
North America
The U.S.
Europe
Germany
U.K.
Asia Pacific
India
China
Japan
Central & South America
Brazil
Middle East & Africa (MEA)
b. The global digital pen market size was estimated at USD 1.63 billion in 2019 and is expected to reach USD 1.79 billion in 2020.
b. The global digital pen market is expected to grow at a compound annual growth rate of 10.4% from 2019 to 2025 to reach USD 2.96 billion by 2025.
b. North America dominated the digital pen market with a share of 38.0% in 2019. This is attributable to rapid adoption of digital pen in the U.S. and Canada, as a result of increased diffusion of digital technologies in several businesses.
b. Some key players operating in the digital pen market include I.R.I.S., Luidia, Sony, Livescribe, Kent Displays, Wacom, e-Pens, ACE CAD, Neo Smart Pens, and Neo Slate.
b. Key factors that are driving the market growth include growing need to digitize business in various sectors, including banking, healthcare, education, and retail and rising adoption of e-learning sites and apps among students of all ages.
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Covid 19's rapid development worldwide has led to serious implications for most suppliers of electronics and electrical products, in the form of supply chain disruptions. While the pandemic crisis has decreased the frequency of purchase of consumer appliances, the lead time for delivery of orders has also increased significantly. Limited availability of components, restricted labor supply, and other supply chain related costs are some of the major challenges that most industry players are focusing on at present. The end of the lockdown is expected to bring this industry significantly higher consumer traffic, most notably through the online channels, and the manufacturers will need to design their production plans and distribution networks in tandem with this changing business environment. Our team is diligently working towards accounting these factors in our report with the aim of providing you with the up-to-date, actionable market information and projections.