Smart Pens Market to Grow with Modernizing Agro-Industry During the Forecast Period
Advancing
technology is driving the growth in Global Smart Pen Market in the forecast
period, 2022-2026.
According to TechSci Research report, “Global
Smart
Pen Market - Global Industry Size, Share, Trends, Opportunity and Forecast,
2016-2026 Segmented By Technology (Camera Based, Accelerometer Based, trackball
Based, Active Based and Others), By End Use (BFSI, Healthcare, Government, IT
& Telecom, and Others), By Sales Channel (Electronic Stores,
Supermarkets/hypermarkets, Online, Others), By Region”, the global smart pens market would potentially project an impressive
growth in the forecast period, 2022-2026, with an impressive CAGR on the
account of rapidly increasing e-learning among the global population. Under the
observance of lockdown, schools, colleges, and other learning institutes
shifted their education processes to online mode, that surged the demand and
thus driving the growth of the global smart pens market in the upcoming five
years. Also, the advantages of smart pen like able to write, to record, to
replay audio files and also to transmit information to other devices, along
with features like translator demo, dictionary, games, etc. is aiding the
growth of the global smart pens market in the next five years. Technological
advancement like location features, scanning and recording features etc. are
further inclining the consumer to opt for the product and thus substantiating
the growth of the global smart pens market in the future five years.
Smart pens are electronic device that helps with converting handwritten
notes into digital format. The technologically advanced device is a major
competition to multiple regular stationary devices like scanner, printer,
digital pens, recorder, etc. The internal operations of a smart pen include the
usage of a triaxial accelerometer, a microcontroller, and an RF wireless
transmission module for sensing and collecting accelerations of handwriting and
gesture trajectories.
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The global smart pens market is segmented on the
basis of technology, end use, sales channel, competitional landscape, and
regional distribution. Based on end use, the market is further fragmented into BFSI,
healthcare, government, IT & telecom, and others. Healthcare sub-segment is
anticipated to hold the largest revenue shares of the market and dominate the
segment in the upcoming five years on the account of increased research and
drug development procedures being carried out. The research scientists and drug
development experts often conduct elaborative and extensive
research and experiments that requires data collection and smart pens often aid
the purpose thereby supporting the growth of the global smart pens market in
the future five years. Moreover, BFSI is also registering significant growth in
the next five years on the account of advantages of smart pens in securing the
digitized format of the important document. Also, digital signature trends are
further aiding the growth of the global smart pens market in the forecast
period.
HP Inc., Apple Inc., Microsoft Corporation, Wacom Co. Ltd., Anoto Group
AB, Canon Inc., Toshiba Corporation, STAEDTLER Mars GmbH & Co.KG, NeoLAB
Convergence Inc., Hanwang Technology Co. Ltd., Moleskine S.p.A., Luidia Inc, make
it to the list of major shareholders of the market among others. Market players
are actively involved in the research and technological development in the
product developments. The advanced technology has made it possible for the
industry to provide excellent services through smart pen. Further advancement
would aid the market value and brand establishment in the future five years.
New market players may focus on the research and development to provide options
that satisfies the consumer demand as well as benefits the market players in
building their brand value. Other competitive strategies include mergers &
acquisitions and new product developments.
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“Asia Pacific is
anticipated to hold the largest revenue shares as well as it is expected to
have the most promising future. The market is anticipated to grow on the
backbone of the tech-savvy countries like South Korea, India, Japan, and China.
Advancing technology and extended research is aiding the market growth as well
as future product development. Moreover, the consumers are more inclined to the
technologically advanced products and thus supporting the growth of the market.
New market players are advised to focus and invest their funds in the research
and development segment and with the launch of innovative products the brand
establishment process for the new market entrant would be more convenient. Collaborations
with the existent players may also help them in understanding the consumer
demands,” said Mr. Karan Chechi, Research Director with TechSci Research, a
research based Global management consulting firm.
“Global Smart Pens Market
- Global Industry Size, Share, Trends, Opportunity and Forecast, 2016-2026 Segmented
By Application (Oncology, Cardiology, Endocrinology, Rare Genetic Disorders,
Others), By End User (Hospitals & Clinics, Academic & Research
Institutes, Others), By Region”,
has evaluated the future growth potential of global smart pens and provides
statistics & information on market size, structure and future market
growth. The report intends to provide cutting-edge market intelligence and help
decision makers take sound investment decisions. Besides, the report also
identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in global smart pens market.
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