Digital Pen Market Size Worth $6.29 Billion By 2030

Grand View Research, Inc.

SAN FRANCISCO, May 16, 2022 /PRNewswire/ -- The global digital pen market is expected to reach USD 6.29 billion by 2030, at a CAGR of 13.3% according to a new report by Grand View Research, Inc. The growth of the market is majorly driven by the growth in internet penetration and the rise in the adoption of smart devices coupled with an increase in the adoption of BYOD policy. Furthermore, a rise in the adoption of business process automation is anticipated to drive market growth.

Key Insights & Findings from the report:

• Digital pen with handwriting ability is projected to register the highest market share owing to the increasing demand among millennials and Gen Z. Under handwriting digital pens, the fastest growing sector is Stylus.
• Tablet is anticipated to register faster growth during the forecast years with a CAGR of 13.8% from 2022 to 2030 due to rising demand for it instead of smartphones and PCs.
• The BFSI sector is expected to witness the fastest growth owing to the rapidly changing environment of the sector to improve customer services. Furthermore, it helps in reducing the labor and time consumed in the process of moving the data from analog to digital versions.
• North America was the largest market, accounting for more than 37.0% share of the global revenue in 2020. The rapid adoption of the digital pen in countries such as the U.S. and Canada as a result of increased diffusion of digital technologies in the majority of businesses is a key factor driving the market.

Request a free sample copy or view the report summary, "Digital Pen Market Size, Share & Trends Analysis Report By Product (Scanning, Handwriting), By Usage (PC, Tablet, Smartphone), By Application, By Region, And Segment Forecasts, 2022 - 2030", published by Grand View Research.

Digital Pen Market Growth & Trends

The digital pen is a writing application equipped with a battery and scanning solution that allows users to capture handwritten documents and drawing in digital form. Further, few digital pens are equipped with handheld scanners that are intended to use optical character recognition to turn printed text into editable text on computer applications. In addition, the rise in the utilization of smart infrastructure solutions such as smart pens and digital art pens across commercial and manufacturing sectors is anticipated to drive the digital pen market.