The global pen tablet market accounted to US$ 348.8 Mn in 2018 and is expected to grow at a CAGR of 9.8% during the forecast period 2019 - 2027, to account to US$ 803.9 Mn by 2027.
The graphics tablets manufacturers across the globe are experiencing fair demands from various industries which are creating a decent business space for the market players and boosting the growth of pen tablet market. According to the Industrial Designer Society of America (IDSA), several small, medium and large enterprises are introducing creative displays and pen tablets for the designing purpose of various products. From ideation to iteration to rendering to modeling, these pen tablets offer designers with exclusive tools to discover digital creation in a natural, ergonomic and comfortable way.
In addition, an increasing number of partnerships to boost the usage of pen tablets in the developed countries is posing a prominent future for the pen tablet market. Similarly, Wacom and Magic Leap partnered together with an aim to create an optimistic vision for the future of productivity. The key aim of this partnership is to facilitate the designers during designing their artwork by using Magic Leap’s One Headset connected to a Wacom Intuos Pro pen tablet. With the usage of two advanced technologies, designers can use the separate three-button Pro Pen 3D stylus to control their content on a platform called Spacebridge, which streams 3D data into a spatial computing environment. These partnerships and introduction of pen tablets or graphics tablets in industrial designing are anticipated to accentuate the market growth for the pen tablet market.
Pen Tablet Market - Company Profiles
- Adesso Inc.
- GAOMON Technology Corporation
- Huion Animation Technology Co., Ltd.
- Monoprice, Inc.
- PenPower Technology Ltd.
- Shenzhen Ugee Technology Co., Ltd. (UGEE)
- Wacom Co., Ltd.
- XPPen Technology CO.
Globally, several countries have undertaken initiatives to propel the digitization across industries, which is expected to ease and smoothen various activities in the industries. The rapid escalation in digitalization practices is influencing various industries to procure advanced electronics to shift from paper-based work to digital content based work.
The animation industry is undoubtedly among the fastest and prospering sector worldwide. Since the inception, the animation industry on a global scenario is booming exponentially year on year, attributing to the advancements in the internet infrastructure and satellite channels in the developed countries as well as economically growing counties.
The global pen tablet market by pressure level has been segmented into 1024 Level, 2048 Level, 4096 Level, and 8192 Level. The pen tablets have an integrated pressure sensitive capacitor that tracks the amount of pressure on the pen when anything is drawn by the user.