Handwriting Digital Pen Market Cost Structures, Status and Future Forecasts to 2028

Handwriting Digital Pen Industry Overview

The global handwriting digital pen market size is anticipated to reach USD 4.78 billion by 2028, registering a CAGR of 8.3% over the forecast period, according to a new report by Grand View Research, Inc. The implementation of supportive digitalization policies by governments in emerging economies like China and India is expected to push the healthcare and BFSI sectors to use digital pens as a tool for error-proof data collection and transfer. For instance, banking institutions are likely to rely on these devices as they convert manual data into digital content, which makes it easier to maintain the personal information and financial transactions of their customers. In addition, these tools can be used to edit stored data as and when required.

Handwriting Digital Pen Market Segmentation

Grand View Research has segmented the global handwriting digital pen market on the basis of usage, application, and region:

Based on the Usage Insights, the market is segmented into PC, Tablet and Smartphone.

• The tablet segment dominated the market with a revenue share of over 58% in 2020. This segment is also projected to witness the highest CAGR from 2021 to 2028. The growing target population base, which includes young and tech-savvy consumers most of whom are heavily dependent on digital devices for education and business, is projected to drive the segment growth.
• The smartphone segment is projected to register the second-fastest CAGR from 2021 to 2028. The rising adoption of smartphones by children and high-school students, due to the growing need for a better medium of education through digital devices, has resulted in increased usage of digital pens via smartphones.

Based on the Application Insights, the market is segmented into BFSI, Healthcare, Government, Media & Entertainment, Education, Retail, and Others.

• The healthcare segment led the market with a revenue share of over 22% in 2020 and is projected to grow at a steady CAGR of over 7% from 2021 to 2028. The handwriting digital pen technology is increasingly being adopted by many healthcare companies to eliminate the time consumed in tedious paperwork for recording patient information and prescriptions. Pacific Cataract and Laser Institute use Anoto’s technology as part of its NextPen electronic medical records rollout as it addresses several concerns. The technology was introduced across the organization’s six-state operating region and digital pens are being used to collect patients’ historical data and consent forms. 

• The BFSI segment is expected to record the fastest CAGR of more than 9.5% from 2021 to 2028. With the help of handwriting digital pens, bank tellers and clients can easily fill forms or basic information, wherein all the annotations will be automatically saved in the document.

Handwriting Digital Pen Regional Outlook

• North America
• Europe
• Asia Pacific
• Central & South America
• Middle East & Africa (MEA)

Key Companies Profile & Market Share Insights

The market is characterized by the presence of various well-established players. The recent developments and strategic initiatives carried out by key players mainly include product launches, collaborations, and acquisitions.

Some of the key companies in the global handwriting digital pen market include,

• Apple, Inc.
• Samsung Electronics Co., Ltd.
• Wacom Co., Ltd.
• Microsoft Corp.
• Huawei Technologies Co., Ltd.
• Lenovo
• Dell Technologies, Inc.
• Hewlett-Packard Development Company, L.P.
• Google LLC
• Sony Corp.

Order a free sample PDF of the Handwriting Digital Pen Market Intelligence Study, published by Grand View Research.