Digital Writing Instruments Market is projected to grow at a Impressive CAGR of 9.4.% by the end of 2027

The market for digital writing instruments is expected to be worth $2,288.5 million by 2027, with a 9.4% CAGR from 2017 to 2027.

The report includes a demand analysis for various products in the digital writing instruments market, as well as an analysis of various market segments. The global digital writing instruments market is expected to grow at an exponential rate in the coming years, according to the key findings of this market research. The global market is expected to be worth more than $2,200 million by the end of 2027, growing at a CAGR of 9.4% during the forecast period.

Individuals' preference for advanced technologies, as well as their reliance on them, are driving growth. The mobile and tablet market is also at an all-time high, which has influenced global demand for digital writing instruments. 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.
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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Market TaxonomyWeighted market segmentation is essential to garner key insights on each and every aspect. Below is a detailed market taxonomy covering various segments of the global digital writing instruments market.By Country

North America
Latin America
Western Europe
Eastern Europe
APEJ
Japan
MEA

By Product Type

Digital Pens/Pencils
Digital Styli

By Device Compatibility

PCs/Laptops
Tablets
Smartphones

By Application

Digital Scanning
Digital Learning
Art & Design
Gesture Recognition
Others

By Distribution Channel

e-Commerce
Retail Stores

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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

This release was published on openPR.