E-learning have gained traction across the globe and is becoming the next generation education system. The expansion of digital writing instruments is inevitable with expansion of e-learning and different improvements taking place in this technology. Following key points have been excerpted from an exclusive interview between a market researcher and industry analysts.
How according to you will be the growth of the global market in near future?
According to Future Market Insights, the global digital writing instruments market is projected to showcase 9.4% CAGR throughout the assessment period (2017-2027). The market is likely to reach valuation of more than US$ 2.2 Bn by the end of forecast period.
What do you think is driving the growth of the market?
Well, the expansion of the market has been primarily attributed to the increasing preference of people towards improved technologies and their dependency on it. Further, the tablets and mobile market is all-time high that has in-turn influenced the growth of the market. Additionally, manufacturers are availing this opportunity of latest trends in digitalization and discovering latest writing instruments, in order to gain attraction of number of buyers.
What according to you are the type of products in the market?
Digital stylus and digital pens & pencils are the product types of the digital writing instruments. Among these, digital pens and pencils are anticipated to retain its dominance in the global market throughout the assessment period. However, digital stylus segment is also anticipated to witness steady growth with increasing demand.
Which device do you think will remain at forefront in the market?
Based on device compatibility, the global market for digital writing instruments has been segmented into tablets, smartphones, PCs or laptops. Among these, tablets have secured the leading position in the recent market with an estimated market size of more than US$ 1.4 Bn by the end of forecast period. However, smartphones and PCs/laptops are anticipated to gain traction in foreseeable period. The smartphone segment is estimated to witness expansion at 19.9% CAGR throughout the assessment period.
How will be the growth of digital learning market, according to you?
The digital learning market have witnessed largest application user of the digital writing instruments. The segment is likely to procure valuation of more than US$ 800 Mn by the end of 2027. On the other hand, digital scanning and art & design is anticipated to exhibit high CAGR throughout the period of forecast.
What are the different distribution channels of these instruments, according to you?
The e-commerce distribution channels is likely to witness highest market size by the end of 2027, on the other hand, the retail stores will showcase high expansion rate in terms of CAGR.
On the basis of region, the North America is anticipated to retain its dominance in the global market throughout the assessment period. The market in the North America region is likely to reach valuation of nearly US$ 850 Mn by 2027-end. However, in terms of CAGR Western Europe is anticipated to emerge as the leading region with CAGR of 10.2% throughout the assessment period.
What are the leading players operating in the global market for digital writing instruments market?
Lenovo Group, Dell Technologies, Neo Smartpen Inc., Luidia, Inc., FiftyThree, Inc., Hewlett Packard, and Moleskine Srl are some leading players operating in the global market. However, Wacom Co., Ltd., Acer Inc., AsusTek Computer Inc., Microsoft Corporation, Apple Inc., Anoto Group AB, and Adonit have also consolidated their footprints in the global market.
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