The Handwriting Digital Pens Market Is Expected To Reach $5 Billion By 2026 With The Rise In Digitization Of Businesses As Per The Business Research Company's Handwriting Digital Pens Global Market Report 2022
TBRC’s market research report covers handwriting digital pens market size, handwriting digital pens market forecasts, major handwriting digital pens companies and their market share, key strategies to undertake, and more.
LONDON, June 14, 2022 (GLOBE NEWSWIRE) -- According to The Business Research Company’s research report on the handwriting digital pens market, the growing need to digitize businesses is expected to propel the growth of the handwriting digital pen market. The increase in digitalization is the main factor in the rise of businesses around the world. Digitalization in business has a massive impact on innovations. The handwriting digital pen is one such innovation, which helps in converting handwritten analog information into digital data, which is utilized in various applications. According to International Data Corporation, a provider of market intelligence, advisory services, and events for the information technology, telecommunications, and consumer technology markets, global spending on the digital transformation (DX) of business practices, products, and organizations is forecast to reach $2.8 trillion in 2025, more than double the amount allocated in 2020. Therefore, the growing need to digitize businesses is driving the growth of the handwriting digital pen market.
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The global handwriting digital pens market size is expected to grow from $3.39 billion in 2021 to $3.71 billion in 2022 at a compound annual growth rate (CAGR) of 9.7%. The global handwriting digital pens market growth is expected to reach $5.41 billion in 2026 at a CAGR of 9.9%.
Recent developments that usually include various innovations and new product launches are key trends in gaining popularity in the handwriting digital pens market. Many companies are developing new products to provide an enhanced experience for their customers. For instance, in 2020, India-based digital pen solution company Doxper announced the launch of a new product called an AI-powered digital pen and encoded paper solution. This new product helps healthcare professionals with digitalizing patient records, ensuring real-time, accurate data is digitalized.
Major players with a handwriting digital pens market share are Apple Inc, Dell Technologies Inc, Google LLC, Hanvon Technology, Hewlett-Packard Development Company L.P., Huawei Technologies Co. Ltd, Lenovo, Sony Corporation, Microsoft Corp., Samsung Electronics Co. Ltd, Wacom Co. Ltd., Doxper, DNS Overseas (XP-Pen), Seiko Epson Corporation, Insignia.
The global handwriting digital pens market segmentation analysis is categorised by usage into PC, tablet, smartphone; by application into BFSI, healthcare, government, media and entertainment, education, retail, others; by platform type into android, iOS, window; by technology into camera digital pen, accelerometer digital pen, trackball digital pen, others.
North America was the largest region in the handwriting digital pens market in 2021. Asia-Pacific is expected to be the fastest-growing region in the global handwriting digital pen market during the forecast period. The regions covered in the global handwriting digital pen market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
Handwriting Digital Pens Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026 is one of a series of new reports from The Business Research Company that provide handwriting digital pens market overviews, handwriting digital pens market analyze and forecast market size and growth for the whole market, handwriting digital pens market segments and geographies, handwriting digital pens market trends, handwriting digital pens market drivers, handwriting digital pens market restraints, handwriting digital pens market leading competitors’ revenues, profiles and market shares in over 1,000 industry reports, covering over 2,500 market segments and 60 geographies.
The report also gives in-depth analysis of the impact of COVID-19 on the market. The reports draw on 150,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders. A highly experienced and expert team of analysts and modelers provides market analysis and forecasts. The reports identify top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
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