The global pen tablet market accounted to US$ 348.8 Mn in 2018 and is expected to grow at a CAGR of 9.8% during the forecast period 2019 – 2027
The product pen tablet is aimed at eliminating the hassles associated with conventional pen and paper by integrating the power of digitization. Pen tablet has garnered impressive prominence amongst end-user industries such as the animation, graphics designing, and architectural designing. The animation industry in particular has had a profound impact on the pen tablet market growth. Marketing sector and various media & entertainment arenas on virtue of added creativity harness the power of pen tablet to a great effect in their operations. Increasing demand for interactive marketing and animations has generated good pen tablet market opportunities for the manufacturers globally.
In the past few years, the competitive landscape of the global pen tablet market is changing majorly due to entry to new players with low-cost products. More and more companies are entering the market with low cost and good performance pen tablets, and this price sensitivity will shape the future of pen tablet market in the coming years. This factor will affect the adoption of pen tablets among various end-use segments including Illustrators, Animators, Photographers, and Graphic Designers; Architects, Engineers, and Industrial design; Medical and Healthcare; Education and Training; and Others.
The top five companies in the pen tablet market include Wacom Co., Ltd., Shenzhen Ugee Technology Co., Ltd., XPPen Technology CO., Huion Animation Technology Co., Ltd., and GAOMON Technology Corporation. The above listing is based on multiple factors including pen tablet segment revenue, product portfolio, upcoming products, investment in R&D, mergers and acquisitions activities, and future plans. Companies have taken several market initiatives in order to expand their footprint across the world and to fulfill the growing demand of the market. In 2019, XP-Pen Deco Pro Won the 2019 Red Dot Design Award. In its deliberations, the Red Dot jury honored the Deco Pro for combining traditional input methods with a graphics tablet in an intelligent way and enhancing and enriching the creative process.
The players present in pen tablet market mainly concentrate towards the partnership, collaborations, agreements and other activities for the deployment of new technological solutions across the world permit the company maintain its brand name globally. Most of the market initiative were observed in APAC region, which have high potential of pen tablet market-related services. Few on the important market initiatives and acquisitions from the industry are mentioned below:
|2019||GAOMON has extended its pen tablet family by launching a portable and affordable pen tablet named, model S620. This tablet supports Windows, Android, and macOS system. The tablet is developed for game players who wants to enhance accuracy and speed of cursor responsive while lowering distance of arm movement.||APAC|
|2019||Huion plans to unveil HS64 and HS610 pen tablets. These pen tablets supports Android OS. These pens would eradicate the need to stay in front of PC to draw with tablet. These are built with 12 customized express keys and 8192 levels of pen pressure sensitivity.||APAC|
|2018||Huion has introduced a new V14 driver. It is built with easy installing processes and is equipped with new features.||APAC|
|2018||Parblo has extended its range of graphic tablet by launching new A640 and A610 plus graphics tablet. Through this product innovation, the company would is able to strengthen its imprints in the market. A640 is a portable graphics tablet designed with a 6”x4” active area; and A610 is slightly a better version than A640 with 10″x6″ active area.||APAC|