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11.80% CAGR of Digital Pen Market Revenues Could Hit the USD 1,860.0 Million Mark by 2032 || Market.us

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New York, July 20, 2023 (GLOBE NEWSWIRE) — The Market.us predicts that the global digital pen market will exceed a market value of approximately USD 1,860 million by the year 2032. Moreover, it is expected to experience a compound annual growth rate (CAGR) of 11.8% from 2023 to 2032.

The digital Pen permits the user to digitally capture a drawing or handwritten note. It is a writing tool that enables users to record the data in digital form so that the information is likely to be saved on the linked devices through Bluetooth or USD. It possesses properties such as memory, electronic erasing, and touch sensitivity which makes it simple and useful to use.

Digital Pen Market Size

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Key Takeaway:

  • By Product, the handwriting pen segment generated a revenue share of 62% in 2022.
  • By usage, the tablet segment has dominated the market, and it is growing at the highest CAGR over the forecast period 2023 to 2032.
  • By End-User, the healthcare segment dominated the market.
  • In 2022, North America dominated the market with the highest revenue share of 37.4%.
  • APAC will likely grow at a significant revenue share of 23.2% from 2023-2032.

There is a growing need for business digitalization in different sectors like healthcare, education, retail, and banking, which is projected to positively impact market growth. Digitalization helps to improve productivity and also get an edge over competitors. Moreover, during the forecast period, the market was anticipated to witness growth because of the surge in the penetration of the internet and the increase in the adoption of smart devices. Also, the rise in demand for IoT-based smart applications and cheap digital pens was likely to surge the demand for digital pen solutions in the upcoming years.

Factors affecting the growth of the digital pen market

There are several factors that can affect the growth of the global digital pen market. Some of these factors include:

  • Technological Advancements: Various technological advancements, such as the implementation of IoT and AI in the digital Pen, will propel the market growth during the forecast period.
  • Growing Adoption of Digital Solutions: The growing adoption of digital solutions in various industries has boosted the growth of the market.
  • Graphic Design and Art Applications: The ability to create digital artworks by artists and designers with the help of digital pens has increased the market demand.
  • E-commerce and Online Distribution Channels: The growth of the market has been propelling due to the e-commerce platforms and online distribution channels.

Top Trends in Global Digital Pen Market

The growing adoption of IoT & AI technologies and rising dependency on smart gadgets, mostly smart devices, are the major factors that increase the demand for the global digital pen market during the forecast period. Also, technological growth with the advent of digital platforms at different industrial verticals, developing concepts of e-learning in the educational sector, and increasing investments by regulatory bodies in building digital infrastructures were expected to improve market growth over the forecast period.

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Market Growth

Digital pens have acquired popularity in the education sector because of their ability to increase learning experiences. These pens also allow students to take notes digitally. It also provides an interactive learning environment for the students. Furthermore, the integration of digital pens in online courses and digital learning platforms will propel the market growth over the forecast period.

Regional Analysis

North America held the majority of share of 37.4% of the overall market because of the rapid adoption of digital pens in this region. Furthermore, the increased penetration of digital technologies in most businesses is a key factor that drives market growth. The US is more dominant than other regions in the market as the majority of the prominent manufacturers are from the US.

APAC is projected to show significant growth in the upcoming years. In the countries such as Japan, China, and India, devices have gained prominent growth, and countries’ governments were concentrating on being completely digital, and this leads to the growth of the market in this region.

Competitive Landscape

The key players are applying various strategies such as capacity expansion, mergers & acquisitions, capacity expansion, technical collaboration, and joint ventures to obtain a stronger position in the market. For instance, Wacom Co., Ltd. hosted an event named ‘Connected Link’ in Tokyo to promote the wide adaptation and innovation of digital stationery. The event introduced new values in the education, stationary segments, business, and creative community by connecting the power of digital Pen with IoT, 5g, and AI technologies.

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Key Players

  • Apple Inc.
  • Livescribe Inc.
  • Microsoft Inc.
  • IRIS S.A.
  • Kent Displays
  • Lucidia Inc.
  • NeoLAB Convergence Lab
  • Moleskine S.p.A.
  • Wacom Co., Ltd.
  • Other Key Players

Scope of the Report

Report Attributes Details
Market Value (2022) USD 627 Million
Market Size in 2032 USD 1,860 Million
CAGR (2023 to 2032) 11.8%
North America Revenue Share 37.4%
APAC Revenue Share 23.2%
Historic Period 2016 to 2022
Base Year 2022
Forecast Year 2023 to 2032

Market Drivers

The growing usage of digital pens in art & designing works is the key factor that boosts the growth of the market. Also, many technological advancements in digital pens for implementing advanced features in pens were estimated to boost the demand of the market. The use of paper and pens are decreasing with the help of these pens, and hence, the computer is used to track the data.

Market Restraints

The cost of digital pens is relatively higher than traditional pens. So, it hampers the growth of the global digital pens market. Moreover, these pens are not able to download handwritten notes; this was likely to restrain the growth of the market during the forecast period. Also, another factor that hinders market growth is that these pens need to be charged from time to time and are not able to be used for a long period.

Market Opportunities

Around the globe, the boost in automation & digitalization in numerous platforms such as business & trade, banking sector, educational system, and other industry verticals creates numerous opportunities for the market. Additionally, digital pens are easy to operate, and also, they make sure that the database collection is error-proof in both the cloud as well as digital storage.

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Report Segmentation of the Digital Pen Market

Product Insight

The handwriting pen accounted for the majority of the market share of 62% due to the availability of different types of pens such as position, active pens, camera, and trackball under handwriting type of digital pens. Also, the growing usage of these pens for educational purposes was expected to surge the market growth during the forecast period.

Usage Insight

The tablet segment held the maximum market share of 47%. Rising growth in the commercial sectors, mostly in the offices, and an increase in the number of universities & colleges has given rise to the trend of digital notes and smart presentations in daily life. All these presentations are done through desk computers and laptops, which results in the growth of the digital pen market.

End-User Insight

The healthcare segment collected the majority of share of the market due to the regular necessities of the health monitoring devices like digital watches, digital pens, and others among patients who were suffering from mobility issues.

Market Segmentation

By Product 

  • Scanning Pen
  • Handwriting Pen

By Usage

  • Tablet
  • Smartphone
  • PC

By End-User

  • BFSI
  • Government
  • Healthcare
  • Education
  • Media & Entertainment
  • Retail
  • Other End-Users

By Geography

  • North America
    • The US
    • Canada
    • Mexico
  • Western Europe
    • Germany
    • France
    • The UK
    • Spain
    • Italy
    • Portugal
    • Ireland
    • Austria
    • Switzerland
    • Benelux
    • Nordic
    • Rest of Western Europe
  • Eastern Europe
    • Russia
    • Poland
    • The Czech Republic
    • Greece
    • Rest of Eastern Europe
  • APAC
    • China
    • Japan
    • South Korea
    • India
    • Australia & New Zealand
    • Indonesia
    • Malaysia
    • Philippines
    • Singapore
    • Thailand
    • Vietnam
    • Rest of APAC
  • Latin America
    • Brazil
    • Colombia
    • Chile
    • Argentina
    • Costa Rica
    • Rest of Latin America
  • Middle East & Africa
    • Algeria
    • Egypt
    • Israel
    • Kuwait
    • Nigeria
    • Saudi Arabia
    • South Africa
    • Turkey
    • United Arab Emirates
    • Rest of MEA

Recent Development of the Digital Pen Market

  • In January 2021- Edinburgh MedTech Company was funded to launch a digital pen that helps to understand the neurological condition of patients who was suffering from Parkinson’s disease. Edinburgh MedTech is a well-known healthcare products company.
  • In July 2020- ITouch 3D Pen was launched by WOL3D. It is a manufacturer of 3D printing products like pens, filaments, and printers based on technology. ITouch 3D Pen was a digital pen for children.

Browse More Related Reports

  • Early Educational Toys Market size is expected to be worth around USD 217.2 billion by 2033 from USD 65.1 billion in 2022, growing at a CAGR of 9.7% during the forecast period 2023 to 2033.
  • Educational Robots Market was valued at USD 1.2 billion. This market is estimated to register CAGR of 16%.
  • 3D Printing in Education Market is expected to grow at a CAGR 10% and will reach at USD 657 Mn in 2033, from USD 278.6 Mn in 2022
  • Smartphone Cover Glass Market is expected to grow at a CAGR 25.1% By 2028, and will reach at US$ 2,084.2 Mn in 2028, from US$ 221.8 Mn in 2018.

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Artificial Intelligence

BeeHero Reveals Groundbreaking Data-Backed Insights from the Latest Almond Pollination Seasons

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On World Bee Day, BeeHero shares findings from the 2022-2024 almond pollination seasons that showcase its ability to optimize and boost pollination efficacy while decreasing operational costs, by empowering both beekeepers and growers with innovative, data-driven solutions
FRESNO, Calif., May 20, 2024 /PRNewswire/ — BeeHero, the pioneer of precision pollination, today unveiled groundbreaking data-driven bee activity insights from the 2022-2024 almond pollination seasons. The company has revealed bee flight hour and bee frame insights via its cutting-edge sensor technology and AI-powered analysis that contribute to improved pollination practices. In recent months, BeeHero cemented its position as the world’s leading provider of precision pollination as it surpassed the threshold of 300K hives under management, from which the company records more than 25 million hive samples daily. The new data is being released on World Bee Day, the date designated by the UN to raise awareness of the importance of these vital pollinators, the numerous threats they face, and how they contribute to sustainable agriculture and development.

Analysis of the previous almond seasons revealed that BeeHero-managed hives demonstrated a higher degree of effectiveness, with an average of nearly 50% more bee-frames per hive compared to the industry standard. This superior performance translates into stronger colonies and enables BeeHero to optimize hive placement and reduce the number of hives required per acre in almond orchards, resulting in enhanced pollination at a lower input-to-output ratio for growers.
BeeHero also discovered a significant difference in the average daily bee flight hours (BFH) measured by its sensors as compared to the traditional bee flight hour calculations. While conventional bee flight hour methods (based on industry standard hives) recorded a total of 2.7 daily BFH over the 2022 and 2023 almond pollination seasons, BeeHero was able to more accurately measure almost double this amount, at 5.9 daily BFH, demonstrating that bees will indeed fly in suboptimal conditions. This revelation underscores the higher accuracy of BeeHero’s methodology over traditional calculations, which underestimate the actual flying time of bees due to a reliance on and proximity to local national weather stations, affecting industry crop yield predictions. Both this finding and BeeHero’s ability to provide stronger hives have widespread implications for not only almonds, but other seed, row, and specialty crops as well.
“We are excited to be consistently achieving new, pivotal milestones on our mission to transform pollination efficiency through transparency and data-driven precision,” explained Omer Davidi, CEO and Co-Founder of BeeHero. “Our findings showcase the critical nature of robust data in optimizing pollination activities, and our unique ability to provide previously unknowable insights – and as a result, stronger hives and more accurate yield predictions – to industry stakeholders. We look forward to continuing to reshape industry paradigms, empowering growers and beekeepers to better foster bee welfare and bolstering productivity for greater profitability.”
During the 2024 almond pollination season, BeeHero utilized various proprietary tools to extract its unparalleled dataset on bee behavior and pollination efficacy. The company introduced a Deployment Planning Tool, enabling beekeepers to visualize their almond orchards and strategically plan daily tasks for maximum efficiency. Additionally, its Hive Tracker offered growers real-time insights into hive shipment and placement, while BeeHero’s new mobile growers platform provided growers with seamless access to hives’ frame counts and other critical information and updates.
Following the culmination of the pollination season, BeeHero is providing personalized precision pollination reports for growers with insights into bee flight hours, bee frames, and how BeeHero’s data and technology have directly impacted their season. In alignment with this mission, a recent study conducted by BeeHero and the USDA explored how bee colony strength and hive entrance orientation affected honey bee foraging behavior, offering actionable insights to improve pollination efficacy. The research underscores the pivotal role of BeeHero’s proprietary technology in gathering data to drive operational efficiency, reduce costs, increase yields, enhance bee welfare, and promote sustainable agriculture.
“The findings from these past pollination seasons – both in our research and in the field – highlight the profound potential of our innovative technology to revolutionize pollination practices, fostering a sustainable ecosystem that benefits both beekeepers and growers,” said Yuval Regev, CTO and Co-Founder of BeeHero. “By illuminating intricate bee behavior patterns and ecosystem dynamics, we are pioneering a new frontier in pollination science and technology.”
Earlier this month, BeeHero was recognized as an Honorable Mention by Fast Company’s 2024 World Changing Ideas Awards in the agriculture category. The award honors products and companies designed to make the world safer, cleaner, more sustainable, and more equitable. This is the latest in a slew of prestigious awards and recognitions for BeeHero, which include Cleantech Group’s 2024 Global Cleantech 100 list, the 2024 Founder’s Games for social impact, CNBC’s 2023 Disruptor 50 list, and The New York Times’ 2022 Good Tech Awards.
About BeeHero
BeeHero is a data-driven technology company redefining pollination in commercial agriculture. Using advanced data analytics, artificial intelligence, and low-cost IoT sensors, BeeHero brings transparency and efficiency to the complex logistics of commercial crop pollination. Its Precision Pollination as a Service (PPaaS) results in better crop yields and increased profits for commercial crop growers and agribusiness stakeholders. Its precision pollination solution is rapidly evolving into the backbone of the data-driven approach needed to build a resilient and future-proof sustainable agriculture ecosystem. The company is headquartered in Fresno, California, with offices in Palo Alto, California and R&D in Tel Aviv, Israel.
Media Contact
Allison GreyHeadline [email protected]  US: +1 323 283 8176UK: +44 203 807 4482IL: +972 53 820 2606

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Artificial Intelligence

Dubai World Trade Centre Drives Impact as Economic Output Surges to US$4.98 Billion in 2023, up 40% YoY

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DUBAI, UAE, May 20, 2024 /PRNewswire/ — Dubai World Trade Centre (DWTC), a global leader in the events and exhibitions industry, has once again demonstrated its significant impact on Dubai’s economy in 2023, welcoming 2.47 million participants and hosting 301 events, 76 of which, were large-scale events that attracted 1.54 million attendees, with 46% from overseas.

DWTC’s 2023 Economic Impact Assessment (EIA) Report, based on its 76 large-scale events (2000 or more attendees) revealed an impressive surge in the total economic output, reaching US$4.98 billion, marking an incredible 40% YoY increase, with high returns for adjacent industries such as Travel, Accommodation and Retail, connected to the Meetings Incentives Conferences and Exhibitions (MICE) ecosystem.
DWTC’s large-scale events generated a substantial US$2.87 billion Gross Value Added (GVA) to Dubai’s GDP, retaining an impressive 58% of the total economic output locally. International participation soared by 53%, with overseas visitors driving 6.2 times more contribution than domestic counterparts.
Events hosted at DWTC supported 69,281 jobs, generating US$915 million in disposable household income for the city’s residents. The substantial economic impact of these events extends beyond direct revenue generation, fostering socio-economic development and contributing to Dubai’s status as a leading global business hub.
His Excellency Helal Saeed Almarri, Director General of DWTC Authority, said: “Aligned with Dubai’s Economic Agenda D33, we continue to spearhead efforts in sector diversification, reinforcing the city’s stature as a leading global business hub. The remarkable accomplishments of 2023, presented in the ‘DWTC Economic Impact Assessment Report’ demonstrate that Dubai’s MICE sector, driven by DWTC, remains a vital pillar of financial resilience and growth underscoring our accelerated strides towards sustainable socio-economic development. The increase in international participation, along with the significant economic impact generated across diverse sectors such as travel, accommodation and retail, highlights the city’s steadfast commitment to propelling business tourism.”
The venue’s formidable events portfolio strategically aligned with Dubai’s economic priorities, showcasing Healthcare, Medical, and Scientific; Information Technology (IT); and Food, Hotel, and Catering as the top contributors. These leading sectors collectively accounted for 59% (US$1.71 billion) of the GVA to Dubai’s economy, and 49% (747,468) of the total large-scale event visitation.
Adjacent sectors, including hotels, air travel, and local transportation experienced a significant boost in economic activity. The direct revenue generated through expenditure was nearly US$2.94 billion.
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Aramco signs agreement with Pasqal to deploy first quantum computer in the Kingdom of Saudi Arabia

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DHAHRAN, Saudi Arabia, May 20, 2024 /PRNewswire/ — Aramco, one of the world’s leading integrated energy and chemicals companies, has signed an agreement with Pasqal, a global leader in neutral atom quantum computing, to install the first quantum computer in the Kingdom of Saudi Arabia.

The agreement will see Pasqal install, maintain, and operate a 200-qubit quantum computer, which is scheduled for deployment in the second half of 2025.
Ahmad Al-Khowaiter, Aramco EVP of Technology & Innovation, said: “Aramco is delighted to partner with Pasqal to bring cutting-edge, high-performance quantum computing capabilities to the Kingdom. In a rapidly evolving digital landscape, we believe it is crucial to seize opportunities presented by new, impactful technologies and we aim to pioneer the use of quantum computing in the energy sector. Our agreement with Pasqal allows us to harness the expertise of a leading player in this field, as we continue to build state-of-the-art solutions into our business. It is also further evidence of our contribution to the growth of the digital economy in Saudi Arabia.”
Georges-Olivier Reymond, Pasqal CEO & Co-founder, said: “The era of quantum computing is here. No longer confined to theory, it’s transitioning to real-world applications, empowering organisations to solve previously intractable problems at scale. Since launching Pasqal in 2019, we have directed our efforts towards concrete quantum computing algorithms immediately applicable to customer use cases. Through this agreement, we’ll be at the forefront of accelerating commercial adoption of this transformative technology in Saudi Arabia.  This isn’t just any quantum computer; it will be the most powerful tool deployed for industrial usages, unlocking a new era of innovation for businesses and society.”
The quantum computer will initially use an approach called “analog mode.” Within the following year, the system will be upgraded to a more advanced hybrid “analog-digital mode,” which is more powerful and able to solve even more complex problems.
Pasqal and Aramco intend to leverage the quantum computer to identify new use cases, and have an ambitious vision to establish a powerhouse for quantum research within Saudi Arabia. This would involve leading academic institutions with the aim of fostering breakthroughs in quantum algorithm development — a crucial step for unlocking the true potential of quantum computing.
The agreement also accelerates Pasqal’s activity in Saudi Arabia, having established an office in the Kingdom in 2023, and follows the signing of a Memorandum of Understanding between the companies in 2022 to collaborate on quantum computing capabilities and applications in the energy sector. In 2023, Aramco’s Wa’ed Ventures also participated in Pasqal’s Series B fundraising round.
About Aramco
Aramco is a global integrated energy and chemicals company. We are driven by our core belief that energy is opportunity. From producing approximately one in every eight barrels of the world’s oil supply to developing new energy technologies, our global team is dedicated to creating impact in all that we do. We focus on making our resources more dependable, more sustainable and more useful. This helps promote stability and long-term growth around the world. www.aramco.com 
About PASQAL
Pasqal is a leading Quantum Computing company that builds quantum processors from ordered neutral atoms in 2D and 3D arrays to bring a practical quantum advantage to its customers and address real-world problems. Pasqal was founded in 2019, out of the Institut d’Optique, by Georges-Olivier Reymond, Christophe Jurczak, Professor Dr. Alain Aspect – Nobel Prize Laureate Physics, 2022, Dr. Antoine Browaeys and Dr. Thierry Lahaye. Pasqal has secured more than €140 million in financing to date. To learn more about Pasqal, visit www.pasqal.com.
Disclaimer
The press release contains forward-looking statements. All statements other than statements relating to historical or current facts included in the press release are forward-looking statements. Forward-looking statements give the Company’s current expectations and projections relating to its capital expenditures and investments, major projects, upstream and downstream performance, including relative to peers. These statements may include, without limitation, any statements preceded by, followed by or including words such as “target,” “believe,” “expect,” “aim,” “intend,” “may,” “anticipate,” “estimate,” “plan,” “project,” “can have,” “likely,” “should,” “could,” and other words and terms of similar meaning or the negative thereof. Such forward-looking statements involve known and unknown risks, uncertainties and other important factors beyond the Company’s control that could cause the Company’s actual results, performance or achievements to be materially different from the expected results, performance, or achievements expressed or implied by such forward-looking statements, including the following factors: global supply, demand and price fluctuations of oil, gas and petrochemicals; global economic conditions; competition in the industries in which Saudi Aramco operates; climate change concerns, weather conditions and related impacts on the global demand for hydrocarbons and hydrocarbon-based products; risks related to Saudi Aramco’s ability to successfully meet its ESG targets, including its failure to fully meet its GHG emissions reduction targets by 2050; conditions affecting the transportation of products; operational risk and hazards common in the oil and gas, refining and petrochemicals industries; the cyclical nature of the oil and gas, refining and petrochemicals industries; political and social instability and unrest and actual or potential armed conflicts in the MENA region and other areas; natural disasters and public health pandemics or epidemics; the management of Saudi Aramco’s growth; the management of the Company’s subsidiaries, joint operations, joint ventures, associates and entities in which it holds a minority interest; Saudi Aramco’s exposure to inflation, interest rate risk and foreign exchange risk; risks related to operating in a regulated industry and changes to oil, gas, environmental or other regulations that impact the industries in which Saudi Aramco operates; legal proceedings, international trade matters, and other disputes or agreements; and other risks and uncertainties that could cause actual results to differ from the forward-looking statements in this press release, as set forth in the Company’s latest periodic reports filed with the Saudi Stock Exchange. For additional information on the potential risks and uncertainties that could cause actual results to differ from the results predicted please see the Company’s latest periodic reports filed with the Saudi Stock Exchange. Such forward-looking statements are based on numerous assumptions regarding the Company’s present and future business strategies and the environment in which it will operate in the future. The information contained in the press release, including but not limited to forward-looking statements, applies only as of the date of this press release and is not intended to give any assurances as to future results. The Company expressly disclaims any obligation or undertaking to disseminate any updates or revisions to the press release, including any financial data or forward-looking statements, whether as a result of new information, future events or otherwise, unless required by applicable law or regulation. No person should construe the press release as financial, tax or investment advice. Undue reliance should not be placed on the forward-looking statements.
Aramco Contact Information:
  @aramco

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