Digital Writing Instruments Market Set to Cross US$ 2,200 Mn by 2027
According to the key outcomes of this market research, the global digital writing instruments market is expected to witness an exponential growth in the coming years. The global market is expected to reach a market value of over US$ 2,200 Mn by the end of 2027, growing at a CAGR of 9.4% during the forecast period. The growth is primarily driven by the preference of individuals towards advanced technologies and their dependency on it. The mobile and tablets market is also at its all-time high, which has in-turn influenced the demand for digital writing instruments in the global market. The manufacturers are expected to make full use of the current trends and come up with innovative writing instruments, in order to attract more buyers.
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Digital Writing Instruments Market: Segmental Analysis
Based on region, North America dominates the market with its expected market value of over US$ 850 Mn by the end of 2027. However, in terms of growth rate, Western Europe has emerged as the leading region with 10.2% CAGR during the forecast period.
On the basis of product type, digital pens and pencils is expected to remain a dominating segment throughout the forecast period, leaving behind digital stylus. However, digital stylus segment is also expected to witness a relatively slow yet growing demand.
On the basis of device compatibility, tablets are the current leaders with a market size of over US$ 1,400 Mn by the end of 2027. But in the coming years smartphones and PCs/laptops are the segments that would increase the demand for digital writing instruments. Smartphones is expected to grow at a CAGR of 10.9% during the forecast period.
Among various types of application in global digital writing instruments market, the digital learning market has the highest market value of over US$ 800 Mn by the end of 2027. Whereas, digital scanning and art & design is expected to register a high growth rate during the forecast period.
The segmentation based on distribution channel shows that e-commerce holds the highest market size by 2027, and retail stores is way ahead in terms of growth rate.
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Digital Writing Instruments Market: Competitive Landscape
The report gives the strategic as well as development details of many key players of the global digital writing instruments market. Some of these companies, mentioned in the report are Dell Technologies, Moleskine Srl, Neo Smartpen Inc., FiftyThree, Inc., Luidia, Inc., Hewlett Packard, Lenovo Group, Acer Inc., Adonit, AsusTek Computer Inc., Apple Inc., Microsoft Corporation, Anoto Group AB, Wacom Co., Ltd. etc.
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