The new report by Expert Market Research titled, ‘Global Stylus Pen Market Growth, Report and Forecast 2023-2028’, gives an in-depth analysis of the global stylus pen market, assessing the market based on its segments like product type, distribution channel, application, end use, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2018-2028)
- Forecast CAGR (2023-2028): 5.3%
One of the main factors driving market growth is increasing digitisation and technological advancements across various sectors. For example, in the education sector, digitisation has ushered in the age of smart classrooms and interactive whiteboards (IWB), both of which require stylus pens. The demand for stylus pens is increasing as online teaching and training methods become more common than traditional teaching methods. Over the forecast period, the growing use of digital pens in the development of digital artwork is expected to boost demand for these pens in the education and related industries.
Industry Definition and Major Segments
A stylus (or stylus pen) is a small pen-shaped device whose tip position on a computer display can be detected. It can be used to draw or tap to make selections.
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Based on product type, the market is divided into:
The distribution channels can be divided into:
On the basis of application, the industry can be segmented into:
- Smart Phones
- Interactive Whiteboards
Based on end use, the industry is divided into:
Regionally, the market can be segregated into:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
The growth of the market is being driven by the rising urbanization and rapid development of technology and gadgets. Some key industrial developments have shown the potential to become drivers of the growth of the market over the forecast period. For instance, the use of Apple Pen and Surface Pen is currently common due to features such as pixel-perfect accuracy, tilt, and pressure sensitivity, build quality, and palm rejection support. Apple Pen and Surface Pen are two of the most premium stylus pens on the market, produced by Apple Inc. and Microsoft Corp., respectively.
Key Market Players
The major players in the market are Epson America Inc., Wacom Co. Ltd., Hanwang Technology Co. Ltd., and Microsoft Corp., among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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