The Global Digital Pen Market is Expected to Boom Over the Next few Years
It was just a few years ago that consumers and even some tech companies (cough, Apple, cough, cough) scoffed at the idea of a digital pen or stylus ever being a must-have tech accessory to go along with tablets or smartphones. However, graphic designers and artists who’ve taken to the digital platform as a way to create their works of art might beg to differ. And now there’s economic data to back them up.
A new report from P&S Market Research, a market research company that offers consulting services around the globe, predicts that the market for digital pens will grow at a CAGR of 17.6 percent between 2016 and 2022. The increasing number of mergers and acquisitions, deployment of digital learning, and the increasing use of digital pens in art and design works were cited as some of the major trends in the market that will propel that level of growth.
The main drivers behind the digital pen market, according to P&S Market Research are growing disposable income and the increasing use of digital pens to eliminate paper work. Further, technological advancements and advanced features are driving the market.