USD 69.13 million growth in digitizer Market 2023-2027, 17000+ Technavio Research Reports
NEW YORK, Dec. 15, 2022 /PRNewswire/ — According to Technavio, the global digitizer market size is estimated to grow by USD 69.13 million from 2022 to 2027. The market is estimated to grow at a CAGR of 3.25% during the forecast period. North America will account for 27% of the market’s growth during the forecast period.
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Global Digitizer Market – Parent Market Analysis
Technavio categorizes the global digitizer market as a part of the global technology hardware, storage, and peripherals market within the overall global information technology market. The global technology hardware, storage, and peripherals market covers manufacturers of cellular phones, personal computers, servers, electronic computer components, and peripherals. It also includes data storage components, motherboards, audio and video cards, monitors, keyboards, printers, and other peripherals.
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Global Digitizer Market – Five Forces
The global digitizer market is fragmented, and the five forces analysis covers–
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Bargaining Power of Buyers
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The threat of New Entrants
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Threat of Rivalry
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Bargaining Power of Suppliers
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Threat of Substitutes
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Interpretation of porter’s five models helps to strategize the business, for entire details – buy the report!
Global Digitizer Market – Customer Landscape
The report includes the market’s adoption lifecycle, from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Digitizer Market – Segmentation Assessment
Segment Overview
Technavio has segmented the market based on end-user (automotive, aerospace and defense, industrial machinery, and electrical and electronics) and type (digitizer without screen and digitizer with screen).
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The automotive segment will grow at the highest rate during the forecast period. The increasing usage of digitizers, fueled by a rise in the demand for the digitizer industry globally, is primarily responsible for expanding this market segment. Digitizer sensors are built into autos to use radio waves to locate and detect items. In cars, digitizer sensors are used for a variety of purposes, such as cross-traffic monitoring, parking assistance, lane change aid, rear-end radar for collision warning or avoidance, and blind-spot detection. The rising integration of electronic systems and content in automobiles is also increasing the use of sensors during the forecast period.
Geography Overview
By geography, the global digitizer market is segmented into North America, Europe, APAC, Middle East and Africa, and South America. The report provides actionable insights and estimates the contribution of all regions to the growth of the global digitizer market.
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North America will account for 27% of the market’s growth during the forecast period. The market in North America is driven by key factors such as the growth of end-user industries, government initiatives to implement digitizers, and rising R&D expenditure by end-user industries. Other important factors include the increased adoption of digitizers by end-user industries, users’ switch from traditional designing platforms to modern designing and sketching products, and the expansion of end-user industries.
Global Digitizer Market – Market Dynamics
Key factor driving market growth
The development of innovative products leading to product premiumization is the key factor driving the global digitizer market growth. Vendors are investing heavily in R&D due to the growing demand for novel products. Customers also look for digitizers that make tasks less difficult to complete and are ergonomically designed. As a result, vendors are expanding their product lines by adding innovative designs and technology. Furthermore, end users tend to spend more on digitizers in order to digitize their operational processes. As a result, there is now a huge demand for inventive digitizers, particularly in the entertainment and automobile industries. Vendors are therefore making significant investments in the creation of novel goods and technologies to enhance the functionality and visual appeal of digitizers that satisfy various client requirements.
Leading trends influencing the market
The introduction of digitizers that comes with customizable shortcut keys and are compatible with multiple designs and artist software will fuel the global digitizer market growth. End users are requesting digitizers with greater functionalities as digitizers gain popularity and usage. These updated features aim at improving the usability and functionality of the products. The popularity of digitizers is increasing throughout industries due to their compatibility with various designs and artist tools. During the projection period, demand in the market will be driven by the rising need for these digitizers and improved offerings by vendors.
Major challenges hindering the market growth
The high production cost is a major challenge to the global digitizer market growth. Digitizers can be used by individuals for personal use, even though they are typically used by professionals. The excessive cost of these devices, particularly for middle-class and low-income groups, prevents their widespread adoption. Professional users can purchase digitizers from many industries and suppliers for a set price that includes taxes and business margins. Since digitizers are so delicate, careless handling might result in permanent damage, which raises the cost. During the forecast period, these factors will limit the market’s expansion.
Driver, Trend & Challenges are the factors of market dynamics that state about consequences & sustainability of businesses, find some insights from a free sample report!
What are the key data covered in this Digitizer Market report?
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CAGR of the market during the forecast period
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Detailed information on factors that will drive the growth of the Digitizer Market between 2023 and 2027
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Precise estimation of the size of the Digitizer Market size and its contribution to the market in focus on the parent market
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Accurate predictions about upcoming trends and changes in consumer behavior
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Growth of the Digitizer Market industry across North America, Europe, APAC, Middle East and Africa, and South America
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A thorough analysis of the market’s competitive landscape and detailed information about vendors
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Comprehensive analysis of factors that will challenge the growth of Digitizer Market vendors
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Digitizer Market Scope |
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Report Coverage |
Details |
Page number |
161 |
Base year |
2022 |
Historical year |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 3.25% |
Market growth 2023-2027 |
USD 69.13 million |
Market structure |
Fragmented |
YoY growth 2022-2023 (%) |
3.0 |
Regional analysis |
North America, Europe, APAC, the Middle East and Africa, and South America |
Performing market contribution |
North America at 27% |
Key consumer countries |
US, Japan, China, Germany, and UK |
Competitive landscape |
Leading companies, Competitive Strategies, Consumer engagement scope |
Key companies profiled |
Adesso Inc., ADLINK Technology Inc., Beijing Veikk E-commerce Co. Ltd., Eastman Kodak Co., GAOMON TECHNOLOGY Corp., GTCO Cal-Comp, Hanvon Ugee Technology Co. Ltd., Hanwang Technology Co. Ltd., Immersion Corp., Parblo Tech Co. Ltd., Pyle USA Sound Around Inc., Shenzhen BOSTO Technology Co. Ltd., Shenzhen Han-Bond Technology Co., Ltd., Shenzhen Huion Trend Technology Co. Ltd., Shenzhen Upin Technology Co. Ltd., TurcomUSA, UC Logic Technology Corp., ViewSonic Corp., and Wacom Co. Ltd. |
Market dynamics |
Parent Market Analysis; Market growth inducers and obstacles; Fast-growing and slow-growing segment analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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Table of Contents
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by End-user
7 Market Segmentation by Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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