Market News Insights Digital Pen Market Growth Overview | Page 2

The increasing demand for digital pens owing to their advanced
features and rising disposable income have contributed to
the growth of digital pen market, which generated a revenue of
$773.5 million in 2017.
It is expected to grow at an 18.4% CAGR during the forecast
period (2018–2023). Digital pens are tools that capture information
on a digital surface, such as a specially designed digital paper or a
liquid crystal display (LCD) screen. These pens mostly have built-
in scanners and handwriting recognition software, which converts
the handwritten text into the typed form.
A shift toward digital learning methods is being observed in
the digital pen market. The advancement and ease of use of
technology have enabled the students and teachers alike to shift
from traditional learning methods, such as books and pens to
digital devices including mobile phones, computers, and laptops
devices that are compatible with digital pens.
The usage of these pens on digital whiteboards in educational
institutes encourage interactive learning among students and help
them conveniently share and record the content as per their
requirement.
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Another major trend in the digital pen market is the use of such
electronics in art and design work. This enables artists to sketch in
a freehand manner, but on a digital platform.
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