What is Smart Pen Market?
Smart pen is basically a pen that contains a camera, an audio recorder, and a built-in computer that enables users to record, save, and upload data. The Symphony captures handwriting and stores it in its own memory however audio is captured using the microphone and speaker of its companion device Livescibe Smartpens currently dominate the market with their main product. Players are anticipated to focus on the development of new compounds, which is likely to encourage the growth of the global market throughout the forecast period.
Highlights from Smart Pen Market Study
|Unit||Value (USD Million)|
|Key Companies Profiled||Livescribe Symphony (United States), Rocketbook Core (United States), Yinxiang (China), NeoLAB Convergence (South Korea), NEWYES (China), Moleskine (Italy), ACCO Brands (United States), Wacom (Japan), SAMSUNG (South Korea), Canon (Japan), Netease (China), Anoto (Singapore), ACE CAD Enterprise Co., Ltd. (United Kingdom) and Luidia (United States)|
The rising number of players expected to enter the global market is predicted to enhance the competition level as well as encourage the growth of the overall market in the near future. Players are anticipated to focus on the development of new compounds, which is likely to encourage the growth of the global market throughout the forecast period Research Analyst at AMA predicts that United States Vendors will contribute to the maximum growth of Global Smart Pen market throughout the forecasted period. Livescribe Symphony (United States), Rocketbook Core (United States), Yinxiang (China), NeoLAB Convergence (South Korea), NEWYES (China), Moleskine (Italy), ACCO Brands (United States), Wacom (Japan), SAMSUNG (South Korea), Canon (Japan), Netease (China), Anoto (Singapore), ACE CAD Enterprise Co., Ltd. (United Kingdom) and Luidia (United States) are some of the key players profiled in the study.
Smart Pen Market Segmentation:
|Application / End User||Clinical Documentation, Education, Billing and Back Office, Communication and Others|
|Type||Accelerometer Based, Active Based, Positional Based, Camera Based and Trackball Pen|
On the basis of geography, the market of Smart Pen has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Introducing New verities of Smart Pen is Attracting New Generation and Launching Budget friendly Smart Pen By the Key Players
Market Growth Drivers:
Increasing students Users and Diverse Ethnicities is Fueling the Growth, Change in the technology is has the main and direct impact on our product is Driving the Growth and Increase in Global Smart Pen Production Due to Increasing Number of Consumers
Rapid Technological Changes and New Product Development
Need to Use Specific Paper Can Hamper the Growth
Growing New of Investor for Smart Pen in Emerging Countries and Increasing Innovation in Device Compatibility with Software
Market Leaders & Development Strategies
On 13th Sep 2020, Nvidia confirmed its plan to acquire Arm in September (in a combined stock and cash deal. “Simon Segars and his team at Arm have built a great company that is contributing to nearly every technology market in the world. Uniting NVIDIA’s A.I. computing capabilities with the vast ecosystem of Arm’s CPU, we can advance computing from the cloud, smartphones, P.C.s, self-driving cars, and robotics, to edge IoT, and expand A.I. computing to every corner of the globe,” Jensen Huang, founder, and CEO of NVIDIA said in a statement.
On 2nd March 2022, Novo Nordisk has made its smart insulin pens available in the UK, giving people treated within the NHS for diabetes access to devices that can monitor and record dosing information for the first time.