According to a new report published by Allied Market Research, titled, “Stylus Pen For Education Market by Type, Platform Type, Screen Type, and Application: Opportunity Analysis and Industry Forecast, 2020–2027,” the stylus pen for education industry size was valued at $55.7 million in 2019, and is projected to reach at $99.3 million by 2027, growing at a CAGR of 8.8% from 2020 to 2027. North America is expected to be the leading contributor to the global market, followed by Europe and Asia-Pacific.
A stylus pen is a tool used to draw and write on touchscreens of electronic devices. Stylus pen enables easy and quick data storage in digital form in touchscreen-based electronic devices. This is attributed to the fact that data or information written in analogue form automatically gets converted into digital form, which makes its suitable for wider usage across various industry verticals. The governments across Asia-Pacific are actively focusing on better and improved connectivity and tele-density to achieve digitization. Rise in adoption of smart devices such as tablets and smartphones acts as a strong platform for the usage of stylus pen.
The growth of the global stylus pen for education market is majorly driven by upsurge in internet penetration coupled with rise in adoption of smart devices and increase in adoption of bring-your-own device (BYOD) policy. Several education institutes have adopted BYOD policy, as it helps to minimize the equipment purchasing & management cost and supports the changing needs of education.
Handheld devices and smartphones provide enhanced flexibility, productivity, and accuracy in terms of task performed and work managed by students. Connected & smart devices such as smartphones, tablets, and laptops support different operating systems, such as Windows, iOS, and Android, which enable synchronized operations with the stylus pen. However, lack of technology readiness for digital education across underdeveloped nations are expected to restrict the stylus pen for education market growth.
The emergence of COVID-19 has significantly affected the education sector. The enforcement of lockdown due to the outbreak of the COVID-19 has paved way for online education. Online education has increased the sale of laptops, smartphones, and tablets, wherein laptops are witnessing increased demand. And hence, there is a growing demand for stylus pen for education market post-COVID pandemic.
Region wise, the stylus pen for education market trends have been analyzed across North America, Europe, Asia-Pacific, and LAMEA. North America accounted for a major share of the global market in 2019, and is expected to dominate the market in terms of revenue during the forecast period, owing rise in demand for digital data storage platform, increase in smart devices penetration, and changes in business process and operation. The Europe region holds the second largest share in the global stylus pen for education market, and is expected to witness significant growth during the forecast period, owing to advancement in the education sector.
Key Findings Of The Study
- In 2019, the active stylus segment accounted for the maximum revenue and is projected to grow at a notable CAGR of 8.7% during the forecast period.
- In 2019, the windows, a platform type segment attributed more than half of the total market share.
- By application, laptop segment contributed major share of 53.0% in global stylus pen for education market during 2019.
- U.S. was the major shareholder in the North America stylus pen for education market, accounting for more than 25% share in 2019.
The key players profiled in the report include Apple Inc., Acer Inc., Adonit, DNS Overseas, HP Development Company, L.P., Logitech International S.A., Microsoft Corporation, Wacom, and Xcallibre SONICTECH Ine., and Staedtler Mars GmbH & Co. KG. Market players have adopted various strategies such as product launch, collaboration & partnership, joint venture, and acquisition to expand their foothold in the stylus pen for education industry.