Handwriting Digital Pen Market (By Usage: PC, Tablet, Smartphone; By Application: BFSI, Healthcare, Government, Media & Entertainment, Education, Retail, Others) - Global Industry Analysis, Market Size, Opportunities and Forecast 2021 - 2028
The global handwriting digital pen market is expected to grow at a CAGR of around 8.2% from 2021 to 2028 and is expected to reach the market value of around US$ 4.5 Bn by 2028.
A digital pen is a battery-powered handwriting instrument that allows the user to digitally capture a handwritten note or drawing. In addition, a digital pen comes with a USB cradle that allows the user to upload handwritten notes to a PC.
Report coverage
| Market | Handwriting Digital Pen Market |
| Analysis Period | 2017 - 2028 |
| Base Year | 2020 |
| Forecast Data | 2021 - 2028 |
| Segments Covered | By Usage, By Application, and By Region |
| Regional Scope | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa |
| Key Companies Profiled | Doxper, Hanvon Technology Co., Ltd., Seiko Epson Corporation, insignia, Microsoft Corporation, DNS Overseas (XP-Pen), Wacom, and among others |
| Report Coverage |
Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis |
| Customization Scope | 10 hrs of free customization and expert consultation |
Technological advancements coupled with R&D bolsters the growth of the global handwriting digital pen market
Handwriting recognition has been studied for decades, and its popularity has grown in tandem with technological advancements. The rise in popularity can be attributed to the large number of people who use handheld digital devices that provide access to such technologies, as well as people's desire to save and share digital copies of written documents. According to ACM, Inc. research, a pen for handwritten digit recognition that works on regular paper and does not require a separate tracking device is in the works. The results show that on a dataset of 9408 handwritten digits collected from 26 people, motion sound outperforms single-sensor approaches with an accuracy of 78.4% for 10 test users. Retraining the networks for a single writer on a dataset of 2120 samples increased the precision to 100% for single handwritten digits, with an overall accuracy of 98.3%.
Handwriting digital pen will be high in demand from the healthcare sector in the coming years resulting in ultimate growth of the global market
Handwriting digital pen technology has significantly improved reporting capabilities and the ability to measure the quality of care provided. Anoto, for example, has been awarded a contract to supply 1,700 digital pens to ambulance crews across Wales. The Welsh Ambulance Service Trusts (WAST) ambulance crews complete approximately 500,000 patient clinical records in Wales each year. Apart from that, it is a well-established fact that digitizing a patient's health record vastly improves the overall efficiency, reach, and quality of healthcare delivery. According to the INDIAAI report on manpower shortages, digitizing a patient's health record improves the overall efficiency, reach, and quality of healthcare delivery. Doxper digital handwriting pen and encoded paper, for example, is a clinical documentation system powered by cloud computing and machine learning. Currently, pens and papers in hospitals are being replaced with Doxper pens and encoded papers, and doctors and other Medicare professionals are using the Doxper pen on the encoded papers to access the patient's data. Furthermore, the company provides the solution to 2000 clinics and 25 hospitals, processing 600,000 prescriptions per month.
Rising utility of handwriting digital pen in education sector bolsters the growth of overall market
According to the Frontiers Media S.A. report, digital devices are increasingly being used in education; thus, understanding the differences in the effects on learning ability related to the use of analogue devices results in more effective educational practices. Furthermore, according to the current study by Frontiers Media S.A., the modulation of electrophysiological signals was investigated by writing words with a digital pen vs. a conventional ink pen. Furthermore, the study found that when participants are familiar with the use of digital pens, learning with an ink pen has a lower effect on brain activity. Such factors have a positive impact on the global handwriting digital pen market's growth.
Market Segmentation
The global handwriting digital pen market is segmented as usage and application. Based on usage, the market is segmented as PC, tablet, and smart phone. Based on application, the market is segregated as BFSI, healthcare, government, media & entertainment, education, retail, and others.
Based on usage, the tablet segment dominated the global handwriting digital pen market in 2020, accounting for a sizable share, and this trend is expected to continue throughout the forecast period. Mastering technology involving PCs and, more recently, direct touch tablets has grown in popularity on the global market. As the education sector evolves with digital tools, it is predicted that young children will learn to write using digital pen and paper or tablet devices in the coming years. Furthermore, artists use tablets for detailed work, which increases the demand for tablets and, as a result, drives the overall growth of the market. The WACOM Cintiq tablet, for example, is a high-end graphics tablet that was specifically designed and is commonly used by artists and designers for complex drawing and detailed pen work, but it is also suitable for handwriting tasks.
Regional Overview
North America dominates, Asia Pacific to register fastest growing CAGR for the handwriting digital pen market
North America has held the lion's share of the handwriting digital pen market in the past and is expected to maintain this dominance throughout the forecast period. This is due to technological advancements and adoption, the presence of prominent players in this region, and new product launches, which result in dominance by maintaining the forefront responsible for the overall growth of market.
On the other hand, the Asia Pacific handwriting digital pen market is expected to grow at an all-time high CAGR in the coming years. The majority of manufacturers are located in prominent Asia Pacific provinces such as South Korea, Japan, and China. Furthermore, because there is a sufficient number of skilled labour, a well-established production plant, and associated trade benefits from the manufacturer's perspective, it boosts regional growth, ultimately contributing to the overall growth of the handwriting digital pen market. Furthermore, rising production costs in developed economies, particularly South Korea and Japan, have prompted companies to relocate production to developing economies in Asia Pacific provinces such as India and China. Furthermore, when compared to North America and Europe, Asia Pacific is the largest contributor for handwriting digital pens.
Competitive Landscape
The prominent players of the global handwriting digital pen market involve Doxper, Hanvon Technology Co., Ltd., Seiko Epson Corporation, insignia, Microsoft Corporation, DNS Overseas (XP-Pen), Wacom, and among others
Market Segmentation
Market By Usage
PC
Tablet
Smartphone
Market By Application
BFSI
Healthcare
Government
Media & Entertainment
Education
Retail
Others
Market By Geography
North America
• U.S.
• Canada
Europe
• U.K.
• Germany
• France
• Spain
• Rest of Europe
Asia-Pacific
• China
• Japan
• India
• Australia
• South Korea
• Rest of Asia-Pacific
Latin America
• Brazil
• Mexico
• Rest of Latin America
Middle East & Africa
• GCC
• South Africa
• Rest of Middle East & Africa
Frequently Asked Questions
What will be the market value of the handwriting digital pen market?
Handwriting digital pen market is expected to reach a market value of around US$ 4.5 Bn by 2028.
At what CAGR, the handwriting digital pen market is expected to grow during the forecast period (2021-2028)?
The handwriting digital pen market is expected to grow at a CAGR of around 8.2% from 2021 to 2028.
Which is the leading segment in the handwriting digital pen market?
Based on usage, tablet segment is the leading segment in the overall market.
What are the key drivers of the handwriting digital pen market?
Technological advancement is one of the prominent factors that drive the demand for handwriting digital pen market.
Which are the prominent players in the handwriting digital pen market?
Doxper, Hanvon Technology Co., Ltd., Seiko Epson Corporation, insignia, Microsoft Corporation, DNS Overseas (XP-Pen), Wacom, and among others.
Which region held the highest market share in the handwriting digital pen market?
North America is anticipated to grab the highest market share in the regional market
Which region is expected to be the fastest growing market over the forecast period?
Asia Pacific is expected to be the fastest growing market in the forthcoming years
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