Stylus Pen Market: Lucrative Opportunities across Various Industry
In various touchscreen devices, a stylus is used to make selections by tapping it on the device screen or by drawing an instruction. This device can replace a pointing device such as a mouse or a trackpad. This technique is often known as pen computing.
Technological advancements have taken place in tablets and with that the opportunity for usage of stylus has gained momentum. Following the development of educational curriculum into technologically advanced alternatives, more institutions are incorporating interactive and smart mode of learning. This mode of progressive learning has led to substantial growth in demand for interactive whiteboard (IWB) and stylus pen.
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The demand for interactive education system is likely to grow during the forecast period as modernization of education system goes on. The extensive usage of universal stylus initiative (USI) is gaining prominence in the stylus pen market. This is driving the usage of stylus pen and thus is anticipated to propel the market. This growing demand for stylus is creating need for a detailed and dynamic stylus which can be interoperable between arrangements from various different makers and also ensure fresh new utilities of dynamic pens.
This advancement is estimated to encourage usage of stylus pens across different devices such as tablets, phablets, and smartphones. The benefits derived from USI are likely to be an important factor for the growth of the stylus pen market during the forecast period. However, constant technological development might render the gadget obsolete. Thus, technological innovations and developments act as restraints.
The market of stylus pen can be segmented on the basis of its application into tablets and IWB. In terms of application, tablets accounted for the prime share in the market in 2015. The usage of stylus pen for tablets has grown among students and artists in recent times. Companies such as Samsung, Lenovo, and Microsoft are the well-known vendors of tablets, and these companies also provide stylus pens with their tablets. The stylus pen market throughout the forecast period is expected to be bolstered owing to the increasing sales of tablets.
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Geographically, the market is divided into Americas, Asia Pacific (APAC), and Europe, Middle-East & Africa (EMEA). Among all the regions, Asia Pacific (APAC) is likely to become a significantly fast growing market during the forecast period. One of the main reasons behind the high growth of the stylus pen market in this region is the increasing number of foreign universities. Many foreign universities are either opening their campuses or forming an alliance with the local ones in the region.
The growth in number of students is boosting the e-learning market in the region. Most of the large suppliers are based in Europe and Americas. The international players are expected to gain market share by acquiring local and regional players.
The global market of stylus pen is highly fragmented owing to the presence of various regional and local vendors offering similar kind of products in the market. The competition is projected to intensify in the stylus pen market as technological innovations are extremely high that is likely to increase in the future.
Globally, the major manufacturers of the stylus pen market are Hanvon Technologies (China), Seiko Epson Corporation (Japan), Wacom Co., Ltd. (Japan), Hitachi (Japan), Walton Group (Bangladesh), Insignia Systems, Inc. (U.S.), Genius KYE Systems Corp. (Taiwan), and Microsoft (U.S.).
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