Digital Pen Market to Achieve Significant Growth in the Near Future

Global digital pen market is expected to reach $2,098.1 million by 2023. Growing usage of digital pens in education and health sectors, increased usage of smart devices, advancements in digital technology, and high per capita income are some of the major factors driving the growth of the market.

Of all applications of digital pen market, clinical documentation will contribute the highest shipment globally, with a projected share of more than 20% in 2023. It is also expected to be the fastest growing category during the forecast period, registering a CAGR of 21.3%.

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These pens are also helpful in maintaining the legal security of original signatures in forms and the human touch factor (in contrast to mechanical), which is essential when recording and discussing sensitive information.

Digital pen market has been growing at a high rate, as they are being widely used to eliminate paper work. They help reduce the enormous amount of time involved in filling forms for various purposes.

North America has been the largest digital pen market, accounting for 44.5% and 40.6% shares in terms of value and volume respectively in 2017, followed by Asia-Pacific. It is mainly attributed to the increased usage of tablets and personal computers, and increasing penetration of internet.

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Owing to large demand for Wacom digital pens, the company enjoys economies of scale. Wacom’s OEM partnerships is the key reason for the large demand of its digital pens. However, the other major players, including Anoto, are also trying to establish OEM partnerships, which has resulted in its increased market share in the recent past.

Digital Pen Market Segmentation

Market Segmentation by Compatibility

• Single OS
• Multiple OS

Market Segmentation by Technology

• Active Digital Pen
• Camera-Based Digital Pen
• Accelerometer-Based Digital Pen
• Positional Digital Pen
• Trackball-Based Digital Pen

Market Segmentation by Application

• Clinical Documentation
• Education
• Billing & Back Office
• Communication
• Others

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