A digital pen is an electronic writing instrument that captures handwritten notes or drawings and converts the analog data into a digital form. A digital pen helps in saving time and cost of entering data manually; it also reduces the costs of mailing and faxing. Moreover, it eliminates the need to store outsourced printing and forms and enables capturing and transmitting data in real time. Digital pens have applications in clinical documentation, billing & back office, and communication, among others.
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The key players in the global digital pen market are Apple Inc. (US), Canon Inc. (Japan), Hanvon Technology Co. Ltd (China), HP Enterprise Development (US), Moleskine (Italy), NeoLab Convergence, Inc. (South Korea), Toshiba Corporation (Japan), Wacom (Japan), XCALLIBRE (South Africa) and Anoto Group AB (Sweden).
Other prominent players studied for the global digital pen market are IRIS SA (China), Novo Nordisk (Denmark), Microsoft Corporation (US), Luidia, Inc. (US), and NEO SMARTPEN Inc. (South Korea) among others.
The digital pen market has been segmented on the basis of type, application, end user, and region.
On the basis of type, the market has been segmented into active digital pen, camera-based digital pen, accelerometer-based digital pen, positional digital pen, and trackball-based digital pen.
By application, the market has been segmented into clinical documentation, billing & back office, communication, and others.
Based on end user, the market has been segmented into BFSI, healthcare, government, IT & telecom, education, and others.
By region, the market is segmented into North America, Europe, Asia-Pacific, the Middle East and Africa, and Central and South America.
Currently, the digital pen industries in the developed countries such as the US, Canada, UK, Germany, and China are at a more advanced level, as these countries have an advanced infrastructure and strong R&D capabilities. However, the manufacturing cost of digital pens is relatively high in other countries as compared to China. Moreover, the Chinese digital pen production volume is increasing at a rapid pace, therefore, their share in the international market is increasing significantly. However, other players are also adopting competitive strategies such as innovation, product development, and expansion to enhance their growth in the market. These players are also trying to establish partnerships with OEMs to stay competitive in the market.
The global digital pen market is projected to grow at a significant rate during the forecast period from 2019 to 2024. The geographical analysis of the global digital pen market has been conducted for North America, Europe, Asia-Pacific, the Middle East and Africa, Central and South America.
North America accounts for the largest market share in the digital pen market as the citizens in this region are tech savvy, and the adoption of smart devices in the US and Canada is high as compared to other countries. Europe holds the second largest market share in the digital pen market as the countries in this region including Germany and the UK are making rapid innovations in automotive and electronic industries. For instance, in US and Germany, the police officers and other authorities use these pens to generate intelligence and crime reports, as it saves time by recording information on a device and transferring it to a computer or sharing it through various connecting technologies. Asia-Pacific is expected to be the fastest growing market as companies are largely investing in digital technology tools to save effort as well as time. The digital pen market in the Middle East and Africa, and Central and South America are in a nascent stage but are expected to show significant growth during the forecast period. However, a lack of technology readiness across various underdeveloped nations may limit the growth of this market.
Table Of Contents
1 Executive Summary
2 Scope Of The Report
2.1 Market Definition
2.2 Scope Of The Study
2.3 Research Objectives
2.4 Markets Structure
3 Research Methodology
LIST OF TABLES
Table 1 Global Digital Pen Market, By Type, 2019–2024
Table 2 Global Digital Pen Market, By Application, 2019–2024
Table 3 Global Digital Pen Market, By End User, 2019–2024
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LIST OF FIGURES
FIGURE 1 Global Digital Pen Market Segmentation
FIGURE 2 Forecast Methodology
FIGURE 3 Porter’s Five Forces Analysis Of The Global Digital Pen Market
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