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Technological Advancement to Drive the Growth of Digital Pen Market Globally

03-05-2020 11:41 AM CET | Advertising, Media Consulting, Marketing Research

Press release from: P&S Intelligence

Technological Advancement to Drive the Growth of Digital Pen

The increasing demand for digital pens owing to their advanced features and rising disposable income have contributed to the growth of the digital pen market, which generated a revenue of $773.5 million in 2017. It is expected to grow at an 18.4% CAGR during the forecast period (2018-2023).

Digital pens are tools that capture information on a digital surface, such as a specially designed digital paper or a liquid crystal display (LCD) screen.

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These pens mostly have built-in scanners and handwriting recognition software, which converts the handwritten text into the typed form.

A shift toward digital learning methods is being observed in the digital pen market. The advancement and ease of use of technology have enabled the students and teachers alike to shift from traditional learning methods, such as books and pens to digital devices including mobile phones, computers, and laptops devices that are compatible with digital pens.

The usage of these pens on digital whiteboards in educational institutes encourage interactive learning among students and help them conveniently share and record the content as per their requirement.

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Another major trend in the digital pen market is the use of such electronics in art and design work. This enables artists to sketch in a freehand manner, but on a digital platform.

The illustrations and designs are then smoothly transferred to a computer, where further modifications can be done with ease, and the work can be stored for a long time without losses in the print quality.

Digital pens have also proven to be extremely useful during presentations in corporate setups, as they convert the written information into the typed form.

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Advancements in information technology have resulted in improved human-computer interaction (HCI). These pens, besides providing an interface to note down and store information, offer a plethora of features.

In addition to handwriting recognition, they can be used for setting reminders and audio recording and data interpretation purposes. Additionally, they are even used in the quick detection of dementia and Parkinson's disease.

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About P&S Intelligence

P&S Intelligence is a provider of market research and consulting services catering to the market information needs of burgeoning industries across the world. Providing the plinth of market intelligence, P&S as an enterprising research and consulting company, believes in providing thorough landscape analyses on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness.

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