Stylus Pen Market Outlook - 2027
The global stylus pen market size was valued at $0.83 billion in 2019, and is projected to reach $1.22 billion by 2027, growing at a CAGR of 5.5% from 2020 to 2027. A stylus pen is an electronic input device which is generally used with a touch screen interactive device such as tablets, smartphones, digital board, iPad, and iPhone. When a user touches a touch screen device with a stylus pen nib, then that interactive device recognizes the position of the stylus pen nib on the touch screen and performs an operation corresponding to the position of the stylus pen.
A stylus pen looks like a standard pen in its actual appearance, and works either by pressure or contact. It has a fine-contact point which gives a smooth swiping & clicking experience to the user with better accuracy for touch points. With the new development in the creation of electronic gadgets furnished with touchscreens, stylus pens are progressively replacing hardware pointing devices, for example, trackpad and mouse. Stylus also provides several advantages such as it is always clean and leaves no oily stains on the screen.
Moreover, many individuals with large hands face difficulties in operating small buttons with fingers on the screen, so stylus pen provides better precision and control to such individuals. Also, stylus pen provides natural feel & control just as natural, like holding a real brush in drawing & design apps. Use of apple pen, and surface pen are in the latest trend due to its certain features such as pixel‑perfect precision, tilt and pressure sensitivity, build quality and support for palm rejection. Apple pen and surface pen provided by Apple inc. And Microsoft Corp. respectively, these are one of the most premium products available in the stylus pen market.
Active segment is projected to be the most lucrative segment
The global stylus pen market is anticipated to witness significant growth during the forecast period. Factors such as high accuracy, better control, as compared to other alternatives such as mouse & trackpad drive the growth of the market. However, constant technological development is a major restraint to global stylus pen industry. In addition, surge in shift of government & education sector toward digitalization is expected to create opportunities for the stylus pen industry.
The global stylus pen market is segmented into type, platform type, screen type, application, and region. By type, the market is bifurcated into active and passive. The platform type segment is divided into chrome OS, iOS windows, and android. By screen type, the market is fragmented into conductive and resistive. By application, the market is segregated into smartphones, tablets, laptops, and others.
Region wise, the stylus pen market trends are analyzed across North America (U.S., Canada, and Mexico), Europe (Germany, U.K., France, Italy and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, and Rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa). The Asia-Pacific region is likely to develop at the highest rate during the forecast period. For instance, surge in digitization in the education area in Asia-Pacific region has modernized the traditional educational methods, introduction of interactive whiteboards, & smart class in which stylus pens form a vital part.
Leading stylus pen manufacturers such as Apple Inc., Honeywell International Inc., International Business Machines Corporation, Lenovo Group Limited are focusing their investment on technologically advanced, cost effective, and secure products and solutions for various applications.
Tablets segment will secure the leading position during forecast period
Top Impacting Factors
The prominent factors that impact the stylus pen market growth are surge in digitization, high demand from Asia-Pacific region, increased internet penetration, and rise in smart device adoption. However, lack of preparation for technology in several underdeveloped nations restrict the market growth. On the contrary, progressive development of digital content & innovation of stylus pen software system is expected to create lucrative opportunities for the market.
Competitive analysis and profiles of the major stylus pen market players such as Adonit, Apple Inc., Hewlett Packard Enterprise Development LP, Honeywell International Inc., International Business Machines Corporation, Lenovo Group Limited, Microsoft corporation, Sonictech Inc., Wacom, and WALTOP International Corp.
Asia-Pacific region would exhibit the highest CAGR of 6.8% during 2020 - 2027
COVID-19 Impact Analysis
The arrival of COVID-19 has significantly affected the electronics and semiconductor sector. Business and manufacturing units across various countries were closed, owing to increase in number of COVID-19 cases, and are estimated to remain closed in 2021. Furthermore, partial or complete lockdown has disrupted global supply chain posing challenges for manufactures to reach customers. The overall production process is being adversely affected, but owing to increase in digitalization across various sectors such as education, government, and businesses, boost the growth of the stylus pen market globally.
The COVID-19 pandemic is impacting the society and overall economy across the globe. The impact of this outbreak is growing day-by-day as well as affecting the overall business globally. The crisis is creating uncertainty in the stock market, falling business confidence, massive slowing of supply chain, and increasing panic among the customer segments.
The Asian and European countries under lockdowns have suffered a major loss of business and revenue, due to the shutdown of manufacturing units in the region. The operations of the production and manufacturing industries have been heavily impacted by the outbreak of the COVID-19 disease, at the same time high demand from school & college professionals, government official, business offices, and others, leads to increase in the growth of the stylus pen market in 2020.
The COVID-19 has been impacted severely on the electronics sector as the production facility has been stalled, which in turn has significant demand in the industries. The effect of COVID-19 lockdown includes large-scale manufacturing interruption across Europe, interruption in Chinese parts exports, which may hinder the stylus pen market.
Key Benefits For Stakeholders
- This study comprises analytical depiction of the global stylus pen market size along with the current trends and future estimations to depict the imminent investment pockets.
- The overall stylus pen market analysis is determined to understand the profitable trends to gain a stronger foothold.
- The report presents information related to key drivers, restraints, and opportunities with a detailed impact analysis.
- The current stylus pen market forecast is quantitatively analyzed from 2019 to 2027 to benchmark the financial competency.
- Porter’s five forces analysis illustrates the potency of the buyers and the stylus pen market share of key vendors.
- The report includes the market trends and the market share of key vendors.
Stylus Pen Market Report Highlights
By Platform Type
By Screen Type
Key Market Players
INTEL CORPORATION, ADONIT, SONICTECH INC., PANASONIC CORPORATION, APPLE INC., Honeywell International Inc., HTC Corporation, INTERNATIONAL BUSINESS MACHINES CORPORATION (IBM), HEWLETT PACKARD ENTERPRISE DEVELOPMENT LP, Lenovo Group Limited
A stylus is a pen shaped electronic instrument with a round design that moves smoothly across touchscreen devices. This instrument is used to navigate on a tablet, phone or interactive white boards. It is widely used for variety of work such as write in apps for taking notes, drawing, swipe for navigating, touch & hold to copy and paste, and tap on touchpad or screen keyboards to select button choices.
Stylus pen allows quick & easy data storage in digital form in touchscreen-based electronic gadgets, owing to the fact that information or data written in analog form automatically gets changed into digital form, which makes its fit for wider usage across different industry verticals.
The global stylus pen market is anticipated to witness significant growth during the forecast period. Factors such as high accuracy, better control, as compared to other alternatives such mouse & trackpad drive the growth of the stylus pen market. However, constant technological development is a major restraint to the global stylus pen industry.
In addition, rise in shift of government & education sector toward digitalization is expected to create opportunities for the growth of the stylus pen industry. Moreover, developing nations tend to witness high penetration of stylus pen products specially in education segments.
The key players of the market focus on introducing technologically advanced products to remain competitive in the market. Product launch, acquisition, and expansion are expected to be the prominent strategies adopted by the market players.