Stylus Pen Market to Reach $1.22 Bn, Globally, by 2027 at 5.5% CAGR: Allied Market Research

- Growing digitization, high demand from the Asia-Pacific region, increasing internet penetration, and rising adoption of smart devices drive the growth of the global stylus pen market.

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Allied Market Research

Mar 09, 2021, 08:10 ET

PORTLAND, Ore., March 9, 2021 /PRNewswire/ -- Allied Market Research published a report, titled, "Stylus Pen Market by Type (Active and Passive), Platform Type (Chrome OS, IOS, Windows, and Android), Screen Type (Conductive and Resistive), and Application (Smartphones, Tablets, Laptops, and Others): Global Opportunity Analysis and Industry Forecast, 2020–2027." According to the report, the global stylus pen industry was estimated at $0.83 billion in 2019, and is anticipated to hit $1.22 billion by 2027, registering a CAGR of 5.5% from 2020 to 2027.

Drivers, restraints, and opportunities-

Growing digitization, high demand from the Asia-Pacific region, increasing internet penetration, and rising adoption of smart devices drive the growth of the global stylus pen market. On the other hand, lack of preparation for technology in several underdeveloped nations impedes the growth to some extent. However, progressive development of digital content is expected to create lucrative opportunities in the coming years.

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Covid-19 scenario-

The electronics and semiconductor sector was immensely impacted during the first phase of the lockdown, due to the closure of maximum manufacturing & business units across the world.
However, several government bodies are now coming up with relaxations on the existing dictates and the market is expected to get back to its previous stance soon.

The active segment to dominate by 2027-

Based on type, the active segment contributed to more than two-thirds of the global stylus pen market share in 2019, and is expected to rule the roost by the end of 2027. The same segment would also register the fastest CAGR of 5.9% throughout the forecast period, due to the fact that active stylus are best suited for creative professionals, offering them superior flexibility while drawing or sketching.

The android segment to maintain the lion's share-

Based on platform, the android segment accounted for more than two-fifths of the global stylus pen market revenue in 2019, and is anticipated to lead the trail by 2027. The same segment would also manifest the fastest CAGR of 6.2% during the forecast period. Increase in number of smartphone vendors and high competitive environment in the smart devices market drive companies to opt for android platform. This factor drives the segment growth.

North America garnered the major share in 2019-

Based on region, North America held the largest share in 2019, generating more than one-third of the global stylus pen market. The market across Asia-Pacific, on the other hand, would exhibit the fastest CAGR of 6.8% from 2020 to 2027. Adoption of technology from economically developing nations in the region is expected to drive the market growth.

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Key players in the industry-

Hewlett Packard Enterprise Development LP
WALTOP International Corp.
International Business Machines Corporation
Adonit
Apple Inc.
Lenovo Group Limited
Microsoft corporation
Honeywell International Inc.
Sonictech Inc.
Wacom

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