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

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 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-

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