Pen Tablet Market to Grow at 9.8% CAGR to 2027 to Reach $803.9 Million Driven by PenPower Technology, XPPen Technology, Wacom, Turcom USA, Adesso, Parblo, GAOMON Technology, Huion Animation, Monoprice, Shenzhen Ugee
Pen Tablet Market: Segment by Pressure Level Insights
The global pen tablet market by pressure level has been segmented into 1024 Level, 2048 Level, 4096 Level, and 8192 Level. The pen tablets have an integrated pressure sensitive capacitor that tracks the amount of pressure on the pen when anything is drawn by the user. The thickness of the line drawn varies as per the pressure applied by the user. Also, higher the pressure level integrated with the pen tablet, more is the detail of information captured. More pressure sensitivity will give the user more options related to the thickness of the line. The 2048 level segment led the pen tablet market in 2018 and it is expected to lose its dominance to 8192 level as a result of large demand on account of higher accuracy provided by the segment.
Asia-Pacific was the leading geographic market in 2018 and it is anticipated to be the highest revenue contributor throughout the forecast period.
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Pen Tablet Market Key Company Profiles:
• Adesso Inc.
• GAOMON Technology Corporation
• Huion Animation Technology Co., Ltd.
• Monoprice, Inc.
• PenPower Technology Ltd.
• Shenzhen Ugee Technology Co., Ltd. (UGEE)
• Wacom Co., Ltd.
• XPPen Technology CO.
Pen Tablet Market Insights: Attractive demand for the pen tablet market is anticipated in countries such as China and Japan
Globally, several countries have undertaken initiatives to propel the digitization across industries, which is expected to ease and smoothen various activities in the industries. The rapid escalation in digitalization practices is influencing various industries to procure advanced electronics to shift from paper-based work to digital content based work. The shift towards digital content based work facilitates in completion of desired work in lesser time and with higher accuracy. Countries such as China, India, Japan, the US, and the UK among others are the pioneers in undertaking digitization practices. Some of the prominent initiatives include; Digital China, Digital India, and Horizon 2020 by EU among others. These initiatives are boosting the procurement of pen tablets in respective countries attributing to the advantages of pen tablets and the rising demand for such electronics in various industries. Moreover, various industries in China, the US, and Japan have heavily integrated pen tablets to boost the digital content and the same is expected to continue in the coming years. Thus, the rapid expansion in digital content creation across the globe is driving the pen tablet market.
Significant demand from animation industry to propel the growth of pen tablets in the forecast period:
The animation industry is undoubtedly among the fastest and prospering sector worldwide. Since the inception, the animation industry on a global scenario is booming exponentially year on year, attributing to the advancements in the internet infrastructure and satellite channels in the developed countries as well as economically growing counties. Earlier animation movies and shows were aimed at children and were made in a moderate budget and the use of modern and advanced technology was limited. However, in this modern era, the animation industry is progressing phenomenally. The animation industry in the developed countries and developing countries is experiencing a paradigm shift from 2D animation to 3D animation. One of the key trends in the modern animation industry is the usage of 3D animation software; also, the usage of graphics tablets or pen tablets play a critical role in designing the animated images. This would drive the pen tablet market during the forecast period.
Pen Tablet Market: Segment by End-Use Insights
The global pen tablet market by end-use has been segmented into Illustrators, Animators, Photographers, and Graphic Designers; Education and Training; Medical and Healthcare; and others. The pen tablet market by end-use was led by illustrators, animators, photographers & graphic designers segment. The animation industry has been in prominence since decades, and with rising importance of animation and prototyping in various industry verticals, its importance has further increased over the years. Animators of today serve the gaming industry, as well as the media and entertainment industry. Pen tablet are characterized by power and versatility, and are thereby used by animation artists for quicker and effective results. The ease of handling, higher efficiency and productivity coupled with enabling quicker time to market of the product has led to proliferated demands of pen tablets amongst the animators, graphic designers, and the photographers.
Pen Tablet Market Strategic Insights:
New market initiatives were observed off late by companies in global pen tablet market. Few of the recent market initiatives are listed below:
2019: XP-Pen Deco Pro Won the 2019 Red Dot Design Award. In its deliberations, the Red Dot jury honored the Deco Pro for combining traditional input methods with a graphics tablet in an intelligent way and enhancing and enriching the creative process.
2018: Wacom Co., Ltd. team up with Magic Leap to deliver spatial computing and pen input solution. Through this collaboration, both the companies aim to provide the best instruments for creative expression and their unique solution, combining precision pen input with spatial computing.
2018: XP-Pen entered into a strategic and technical cooperation with Ugee Technology Co. Ltd and Hanvon Technology Co., Ltd.
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GLOBAL PEN TABLET MARKET SEGMENTATION
By Pressure Level
• 1024 Level
• 2048 Level
• 4096 Level
• 8192 Level
• Illustrators, Animators, Photographers & Graphic Designers
• Architects, Engineers & Industrial design
• Medical & Healthcare
• Education & Training
• North America
o Rest of Europe
• Asia Pacific (APAC)
o South Korea
o Rest of Asia Pacific
• Middle East and Africa (MEA)
o Saudi Arabia
o South Africa
o Rest of MEA
• South America
o Rest of South America (SAM)
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