The overall digital writing instruments market worldwide is has registered a value of US$ 230.0 Mn in 2018 and is set to grow with a CAGR of 8.6 % during the forecast period.
Market Insights
The global digital writing instruments market is highly driven due to technological advancement and rising digitalization globally. The increasing utilization of smartphones, laptops, tablets and others are one of the major factors which is driving the digital writing instrument market, as these devices are being adopted rapidly by the individuals globally due to additional features and advance technologies integrated into the devices. Moreover, the rising demand for better services and functionality for digital devices is an another factor for the markets growth as these writing instruments reduces the human efforts and also captures the interest of individuals.
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Based on application, the digital learning segment held the largest market share of over 45% in 2018. The segment is driven due to increasing demand for smart phones and rising utilization of e-commerce. The digital learning utilizes all the blended and virtual technologies to increase the effectiveness of learning among the users and individuals. The digital pens are used during the lectures, trainings and others that make the learning more attractive. Thus these factors led to drive the market. However, the arts & design segment is expected to be the fastest growing segment during the forecast period.
Asia-Pacific is expected to be the fastest growing region due rising digitalization and adoption of new technologies among the users. Additionally, the increasing disposable income among the individuals and government initiatives for development of digital and technological infrastructure in the region is one of the major factors driving the market. The Asia-Pacific is expected to account a market share of more than 25.0% during the year 2027.
Some of the prominent players operating in the digital writing instruments market include Microsoft Corporation, Apple Inc., Anoto Group AB, Dell Technologies, Wacom Co., Ltd., Moleskine Srl, FiftyThree, Inc., Hanvon Technology Co., Ltd., Neo Smartpen Inc. , Luidia, Inc., Lenovo Group, HP, Acer Inc., AsusTek Computers Inc., Adonit, Staedtler Noris Digital, and I.R.I.S. Inc.
Digital Writing Instruments with Wireless in its Technology Segment Continue Dominating the Market
In 2018, the overall digital writing instruments market was led by the wireless segment in its technology segment contributing to a high percentage of the market share of the total revenue generated globally in 2018 and has a market share of more than 60.0% in the technology segment. The advancement in technology and the increasing use of mobile phones has led to the demand for wireless technology, allowing users to use it with ease. The wireless technology is also accounted to be the fastest-growing segment by technology during the forecast period due to the increasing adoption of the technology by the users and the ability to carry the instruments anywhere without any hassle.
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North America Dominates the Market by Region
The global digital writing instruments market was led by North America with a market share of more than 30.0% in the year 2018. This is due to high penetration of handheld devices and continued technological advancement of smartphones and tablets. Additionally, the rise of digital writing in North America is expected to grow with a CAGR of 8.0% during the forecast period, this is due to increasing awareness among the users about the nature friendly technology. Asia Pacific is set to register the highest growth owing to the presence of huge smartphones and tablets market here.
Unique data points of this report
- Statistics on digital writing instruments penetration and spending worldwide
- Recent trends across different regions in terms of adoption of digital writing instruments.
- Notable developments going on in digital writing instruments market
- Attractive investment proposition for segments as well as geography
- Comparative scenario for all the segments for years 2018 (actual) and 2027 (forecast)
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