Global Digital Pen Market is Expected to Grow from USD 790.1 million in 2018 to USD 2,044.8 Million by 2024, at a CAGR of 17.5% during the forecast period. This is influenced by the focus of automotive manufacturers to leverage on data and analytics to improve their tires. Metrics such as load detection tread wear & depth, pressure & temperature, and road conditions can be used in gleaning useful insights and start new trends in tire development.
A digital pen is an electronic writing instrument that captures handwritten notes or drawings and converts the analog data into a digital form. A digital pen helps in saving time and cost of entering data manually; it also reduces the costs of mailing and faxing. Moreover, it eliminates the need to store outsourced printing and forms, and enables capturing and transmitting data in real time. Digital pens have applications in clinical documentation, billing & back office, and communication, among others.
In healthcare, digital pens enable capturing precise and reliable patient data digitally, especially in the areas of physiotherapy, occupational therapy, and midwife services. This information is time-stamped and is automatically sent to an EMR or hospital medical system for further processing. Furthermore, in this digital educational era, digital pen is seen as a valuable device for students as well as teachers and are replacing books, traditional pens, and other tools of learning for better understanding and convenience. Also, the increasing usage of digital pens on interactive whiteboards for interactive learning is propelling the growth of this market. Moreover, various features of this pen, including audio recording, data sharing, and data transformation into audio-based text, are driving the growth of the digital pen market across the world.
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Key Players
The key players in the global digital pen market are Apple Inc. (US), Canon Inc.(Japan), Hanvon Technology Co. Ltd (China), HP Enterprise Development (US), Moleskine (Italy), NeoLab Convergence, Inc. (South Korea), Toshiba Corporation (Japan), Wacom(Japan), XCALLIBRE( South Africa) and Anoto Group AB (Sweden).
Other prominent players studied for the global digital pen market are IRIS SA (China), Novo Nordisk (Denmark), Microsoft Corporation (US), Luidia, Inc. (US), and NEO SMARTPEN Inc. (South Korea) among others.
Segmentation
The digital pen market has been segmented on the basis of type, application, end user, and region.
- On the basis of type, the market has been segmented into active digital pen, camera-based digital pen, accelerometer-based digital pen, positional digital pen, and trackball-based digital pen.
- By application, the market has been segmented into clinical documentation, billing & back office, communication, and others.
- Based on end user, the market has been segmented into BFSI, healthcare, government, IT & telecom, education, and others.
- By region, the market is segmented into North America, Europe, Asia-Pacific, the Middle East and Africa, and Central and South America.
Regional Analysis
The global digital pen market is projected to grow at a significant rate during the forecast period from 2019 to 2024. The geographical analysis of the global digital pen market has been conducted for North America, Europe, Asia-Pacific, the Middle East and Africa, Central and South America.
North America accounts for the largest market share in the digital pen market as the citizens in this region are tech savvy, and the adoption of smart devices in the US and Canada is high as compared to other countries. Europe holds the second largest market share in the digital pen market as the countries in this region including Germany and the UK are making rapid innovations in automotive and electronic industries. For instance, in US and Germany, the police officers and other authorities use these pens to generate intelligence and crime reports, as it save time by recording information on a device and transferring it to a computer or sharing it through various connecting technologies.
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Major Highlights of TOC Covers:
- Executive Summary
- Key Business Trends
- Regional Trends and Growth
- Product Trends
- End-use Trends
- Definition and Forecast Parameters
- Digital pen Market Segmentation
- Digital pen Market Landscape
- Vendor Matrix
- Company Profiles
- Business Overview
- Financial Data
- Product Landscape
Continued…
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The Spirulina Market is expected to grow at a CAGR of 10.3% from 2020-2030, according to a new research report by Next Move Strategy ConsultingSpirulina is a blue green algae with high nutrient content, usually consumed by human & animals.
It is also used as a complementary diet ingredient in aquaculture & poultry feeds owing to the presence of high protein & vitamin content.According to the report, growth in health consciousness among people and the rising demand for dietary supplements are major factors driving the spirulina market growth.
Additionally, high penetration of spirulina in industries such as cosmetics and pharmaceutical owing to the advantageous properties such as anti-aging, anti-wrinkles and othersare bringing changes in market tends.However, low stability & poor sustainability of spirulina derived colours is expected to restrict the market growth.Moreover, growth in research & development activities followed by untapped market opportunities in developing economies are anticipated to provide numerous opportunities to the market players in the coming few years.On the basis of type, spirulina market share is segmented into Arthrospira Platensis and Arthrospira Maxima.
Arthrospira Maxima dominates the global Spirulina market and will be the dominant throughout the forecasted period.On the basis of application, the Spirulina market is categorised into Nutraceuticals, Food & Beverages, Cosmetics, Animal Feed, and Others.Food & Beverages segment is likely to develop significantly over the period of time owing to fast growing food & beverage industry.On the basis of drug formulation, the spirulina market is bifurcated into Powder, Tablet & Capsule, Liquid, and Granule & Gelling Agent.
Powder segment is expected to account for the major market share & dominate the market growth over the forecast period.North America dominates the spirulina market in terms of market size over the forecast period, owing to rising health consciousness among people.
Hansen Holding A/S, Algenol Biofuels Inc., Dongtai City Spirulina Bio-engineering Co., Ltd., Prolgae, Parry Neutraceuticals, Sensient Technologies Corporation, DDW Inc., Algatec and Naturex S.A.Browse key industry insights from the report, “Spirulina Market Size By Type (ArthrospiraPlatensis and Arthrospira Maxima) By Application (Nutraceuticals, Food & Beverages, Cosmetics, Animal Feed, and Others), By Drug Formulation (Powder, Tablet & Capsule, Liquid, and Granule & Gelling Agent)Regional Outlook (U.S., Canada, Germany, UK, France, Spain, Italy, Russia, China, India, Japan, Australia, Indonesia, Malaysia, South Korea, Brazil, Mexico, South Africa, Saudi Arabia, UAE, Kuwait), Growth Potential, Price Trends, Competitive Market Share & Forecast, 2020–2030” in detail along with the table of contents:Key Insights from the Spirulina Market Report:Asia Pacific is the fastest growing region in Spirulina market owing to the rising demand of spirulina from various industries such as cosmetics, food , healthcare and others and government initiatives to promote local spirulina production.The Food & Beverages segment dominates the market in terms of application and is expected to grow at a significant CAGR to maintain the lead till 2030.Some of the major players in the market are DIC Corporation, Cyanotech Corporation, Chr.
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Market size by End User
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Looking forward, IMARC Group expects the Europe PVC Pipes market to exhibit moderate growth during the next five years.
