Data Bridge Market Research analyses that the Trackball Based Digital Pen Market which was growing at a value of 323.87 million in 2021 and is expected to reach the value of USD 1,160.79 million by 2029, at a CAGR of 17.30% during the forecast period of 2022-2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis.
Currently, industries such as BFSI, healthcare, and others are using digital pens as a tool for error-proof data collection and transfer, which is driving the digital pen market over the forecast period. Companies are developing digital pens for students, professionals, and serious digital content creators. Wacom, a Japanese manufacturer of interactive pen tablets and displays, for example, introduced its new creative pen display to professional and serious digital content creators in December 2021.
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Global Trackball Based Digital Pen Market Drivers
- Various security concerns and lack of storage associated with traditional method
Growing public awareness of the drawbacks of using physical paper documents in businesses, such as inaccessibility, security concerns, and a lack of storage space, is one of the major factors driving market growth. Furthermore, the production of paper produces inorganic materials such as chlorine and metal compounds, which are discharged into bodies of water and contribute to pollution. This, in conjunction with stringent regulations enacted by governing bodies in a number of countries to prevent industrial water pollution, is driving market growth.
- Rapid digitization across many industry verticals
The increased use of online banking services is having an impact on the global adoption of digital pens in the banking, financial services, and insurance (BFSI) sector. Digital pens aid in document digitization, document management improvement, processing cost reduction, authentication enhancement, workflow acceleration, and customer satisfaction improvement.
Some of the major players operating in the trackball based digital pen market are:
- Apple Inc. (U.S.)
- Canon Inc. (Japan)
- Hanvon Technology Co. Ltd (China)
- Hewlett Packard Enterprise Development LP (U.S.)
- Moleskine (Italy)
- NeoLab Convergence, Inc. (South Korea)
- Toshiba Corporation (Japan)
- Wacom (Japan)
- XCALLIBRE (South Africa)
- Anoto Group AB (Sweden)
- STAEDTLER Mars GmbH & Co. KG (Germany)
- NeoLAB Convergence Inc. (South Korea)
- Luidia, Inc. (Canada)
- Microsoft (U.S.)
- SAMSUNG (South Korea)
- Logitech. (Switzerland)
- Sony Corporation (South Korea)
Recent Development
- In January 2019 Wacom introduced the Cintiq 16, a new class of creative pen display for digital sketching, illustration, and technical drawing,. The Cintiq 16 includes Wacom's Pro Pen 2 technology, which provides professional-grade pen technology.
- In October 2019 Novo Nordisk launched two connected insulin pens to allow patients to track and discuss their insulin levels with their doctors.
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Global Trackball Based Digital Pen Market Scope
Type
- Android
- Windows
- iOS
End Users
- Banking, Financial Services, and Insurance (BFSI)
- Government
- Healthcare
- IT & Telecom
- Manufacturing
- Other End Users
Application
- Clinical Documentation
- Education
- Billing & Back Office
- Communication
- Media & Entertainment
- Retail
- Other Applications
Trackball Based Digital Pen Market Regional Analysis/Insights
The countries covered in the trackball based digital pen market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
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