In a recent published report, Kenneth Research has updated the market report for Digital Pen Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Digital Pen Market products.
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According to a report by the World Health Organization (WHO), the total health spending is growing with an annual average rate of 6% in the low- and middle-income nations, and close to 4% in the high-income countries. Further, in the year 2016, the expenditure made on health reached close to 10% of the GDP of the world and crossed a value of USD 7 trillion.
“Final Report will add the analysis of the impact of COVID-19 on this industry.”
Global Digital Pen Market is estimated to reach $4,260 million by 2024; growing at a CAGR of 17.8% from 2016 to 2024. A digital pen, also called as electric pen or smart pen is used for transmitting handwritten data into digital media. It initiates human computer interaction and aids in digitalize, storage, and transfer of written data into computers or laptops. A digital pen has USB attached to it for uploading notes to the computer. Moreover, it has the capability of storing up to 50 pages of A4 size text. Most of the digital pens have handwriting recognition software that assists the user to translate the handwritten notes into typed text. Advanced high-end digital pens are also available that are wireless, and uses Bluetooth technology to transfer the data into computers.
The growth of the global digital pen market is majorly driven by adoption of advanced technologies, demand for digital learning, rising demand for pens in arts and designing and accessibility of pens with advanced features. Though, high cost of digital pens may limit the growth of the market. Additionally, untapped markets and addition of new features would provide growth opportunities in forecast.
The global digital pen market is categorized into technology, platform, application, and geography. Technology is segmented into active, camera, position, accelerometer, trackball, and others. Platform is bifurcated into android, windows and IOS. Furthermore, application is bifurcated into clinical documentation, communication, education, billing and back office, and others.
By geography, the market has been bifurcated into North America, Europe, Asia-Pacific, and Rest of the World (RoW). The U.S., Canada, and Mexico are covered under North America wherein Europe covers UK, Germany, France Italy, and others. Asia-Pacific covers China, Japan, India, South Korea, and others. RoW covers South America, Middle East, and Africa.
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Key players in the market include Logitech International S.A., Wacom Co. Ltd., Toshiba Corporation, Apple Inc., E-pens Ltd., Hewlett-Packard Company, Canon Inc., Hanvon Technology Co.Ltd., Moleskine S.p.A, and Anoto Group AB, among others.
The key takeaways from the report:
The report will provide a detailed analysis of Global Digital Pen Market with respect to major segments such as technology, platform, and application
The report will include the qualitative and quantitative analysis with market estimation over 2015-2024 and compound annual growth rate (CAGR) between 2016 and 2024. Comprehensive analysis of market dynamics including factors and opportunities will be provided in the report
An exhaustive regional analysis of Global Digital Pen Market from 2015 to 2024 has been included in the report. Profile of the key players in the Global Digital Pen Market will be provided, which include key financials, product & services, new developments and business strategies.
Scope of the Global Digital Pen Market:
Technology Segments
Active
Camera
Position
Accelerometer
Trackball
Other Technologies
Platform Segments
Android
Windows
IOS
Application Segments
Clinical Documentation
Communication
Education
Billing and Back Office
Other Applications
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Geography Segments
North America
U.S.
Canada
Mexico
Europe
UK
Germany
France
Italy
Others
Asia-Pacific
China
Japan
India
South Korea
Others
RoW
South America
Middle East
Africa
About Kenneth Research
Kenneth Research is a reselling agency providing market research solutions in different verticals such as Automotive and Transportation, Chemicals and Materials, Healthcare, Food & Beverage and Consumer Packaged Goods, Semiconductors, Electronics & ICT, Packaging, and Others. Our portfolio includes set of market research insights such as market sizing and market forecasting, market share analysis and key positioning of the players (manufacturers, deals and distributors, etc), understanding the competitive landscape and their business at a ground level and many more. Our research experts deliver the offerings efficiently and effectively within a stipulated time. The market study provided by Kenneth Research helps the Industry veterans/investors to think and to act wisely in their overall strategy formulation
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