Article -> Article Details
| Title | Rising Initiatives For Eliminating Paperwork Propelling Digital Pen Need Worldwide |
|---|---|
| Category | Business --> Business Services |
| Meta Keywords | Digital Pen Market |
| Owner | industrytrends |
| Description | |
| The surging disposable income of people and mushrooming need for the advanced features offered by digital pens are the major factors propelling the sales of these pens across the globe. The rising popularity of electronic gadgets has pushed up the demand for advanced pens offering various features beyond writing. Furthermore, the emergence of multifunctional writing instruments having advanced features, such as smartphone- and tablet-optimized pens, is also fueling the worldwide sales of digital pens. Features of these pens, such as patient-specific and time-based reminders, audio recording, data storage, data transformation into audio-based text, and data sharing are also driving the popularity of pens around the world. As per the National Bureau of Statistics of China, the per capita disposable income in China surged by 8.3% from 2016 to 2017. Clinical documentation, billing and back office, education, and communication are the major application areas of digital pens. Out of these, the use of digital pens is growing rapidly for clinical documentation. Digital pens are classified into camera-based digital pens, positional digital pens, accelerometer-based digital pens, trackball-based digital pens, and active digital pens, on the basis of technology. Out of these, the use of active digital pens was found to be the highest in the years gone by, owing to the multiple features of these pens in comparison to the passive digital pens. Moreover, the demand for these pens will surge in the coming years as well, on account of rapid advancements and innovations in digital technologies, such as electronic learning solutions, which are being increasingly preferred in the education sector over conventional learning methods. Across the globe, the digital pen market will grow substantially in North America and Asia-Pacific (APAC) in the coming years. Moreover, APAC will be the fastest growing region in the industry over the next few years. This will be because of the growing penetration of the internet and surging number of consumer electronics users, especially in India and China. Furthermore, the rapidly improving healthcare infrastructure is fueling the need for digital health technologies, which is, in turn, contributing toward the ballooning demand for digital pens in the region. A large number of digital pens are being used in design and art-related works, such as sketching and drawing, as they offer an improved experience to users, by facilitating the development of designs and freehand illustrations, which can be modified after being transferred to a computer. Character recognition software-enabled digital pens are being increasingly used in presentations as the text being written by such pens can be recorded in a device and converted into a typed form.
Additionally, the surging popularity of electronic gadgets will fuel the adoption of digital pens in the coming years. The advent of multifunctional writing instruments equipped with improved features, such as smartphone-optimized pens and pens with tablets, has encouraged digital pen manufacturers to develop advanced digital pens for the consumer electronics industry. Some of the key features of such pens are audio recording, decision support and data interpretation, time-based and patient-specific reminders, and data sharing, data storage, and data transformation into audio-based text.
In recent years, the rising deployment of digital tools, such as digital pens, for the development of interpersonal and educational skills, has become a prominent trend in the digital pen market. Such digital devices are offering several advantages to teachers and students, as they are continuously replacing pens, books, and other learning tools in academic institutes. Digital pens aid in the digitization of handwritten notes in educational institutions. Additionally, such pens also enable students to record and share educational content to be used in the future.
At present, digital pen manufacturers are heavily investing in advanced technologies and collaborating with original equipment manufacturers (OEMs) of touch-based devices to offer new products for their customers. For instance, in 2018, Apple Inc. introduced a 9.7-inch iPad supported by Apple Pencil Plus. This Apple Pencil and iPad widens enable users to jot down their handwritten notes to mark up the screenshots. Other manufacturers such as STAEDTLER Mars GmbH & Co. KG, Microsoft Corporation, Moleskine S.p.A., Hanwang Technology Co. Ltd., and Toshiba Corporation are also launching new products to attract more customers.
According to P&S Intelligence, the Asia-Pacific (APAC) digital pen market will witness the fastest growth throughout the forecast period. This can be primarily owed to the growing penetration of the internet and consumer electronics in India and China. Besides, the improving healthcare sector, owing to the burgeoning adoption of digital health technologies, will also facilitate the market growth in the region. Moreover, the mounting investments being made by electronic device manufacturing companies will also drive the demand for digital pens in the region in the foreseeable future.
Hence, it can be safely said that the sales of digital pens will rise enormously in the coming years, primarily because of the growing use of consumer electronic devices, changing consumer preference, and surging disposable income of people all over the world. | |