The global digital pen market is projected to generate USD 6,410 million revenue by 2030, advancing at a CAGR of 13.60% during 2022–2030. This will be due to the rising disposable income, increasing use of digital pens to eliminate paperwork, and growing demand for advanced features offered by digital pens.
Moreover, the increasing use of digital pens in art and design works is another key trend observed in the global market. The application of digital pens in art- and design-related works, such as sketching and drawing, provides almost a natural experience to users by facilitating the development of freehand illustrations and designs, which can be modified once they are transferred to a computer. Furthermore, such pens with recognition software are very helpful in presentations, as the written text can be directly converted into typed text and recorded in a device.
In addition, digital pens help reduce the enormous amount of time involved in filling forms for various purposes. For instance, in developed countries, such as the U.S. and Germany, police officers and other authorities use digital pens to fill incident- and crime-reporting forms, generate intelligence and crime reports, and record information on missing people. Moreover, they often need to maintain information in multiple records. Furthermore, these pens help save time by recording information on a device and multiplying it into several records, by transferring it to the computer or sharing it through various connecting technologies.
The active pen category held the largest share, of 46%, in 2022. An active pen allows the user to write directly on the screen of computing devices, including laptops. These pens are typically used for on-screen drawing/painting, note writing, as well as accurate object selection, electronic document annotation, and scrolling. The active pen's handwritten input can be converted to digital text with the help of handwriting recognition software. Moreover, handwritten input can be converted to digital text, which can be viewed on the screen of the device.
Moreover, camera-based digital pens are also in demand, these pens use special digital paper to detect the motion of the pen point. The pen camera is started, when the pen comes in contact with the paper and captures the pen strokes on the printed digital paper. A camera on the pen tip records the movement with each pen stroke, to create a visual image of the page.
The North American region held the largest share in 2022. The rapid digitization and widespread use of cutting-edge consumer electronics are driving the demand for digital pens in the region. Moreover, the high availability of internet connectivity and the growing use of smart gadgets are accelerating market expansion. The usage of technologically improved teaching tools is growing as a result of the number of developments in the education industry.
Furthermore, digital books are being used by a number of educational institutions across the U.S. and Canada for interactive learning experiences. The demand for the product is being driven by the widespread application of digital culture and its illustrative representations in the media and entertainment industries.
The major players operating in the global digital pen market are Apple Inc., HP Inc., Microsoft Corporation, Anoto group AB, Wacom Co. Ltd., Toshiba Corporation, STAEDTLER Mars GmbH & Co. KG, Hanwang Technology Co. Ltd., and NeoLAB Convergence.