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–

• Bargaining Power of Buyers

• The threat of New Entrants

• Threat of Rivalry

• Bargaining Power of Suppliers

• Threat of Substitutes

• 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.

• 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.

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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?

• CAGR of the market during the forecast period

• Detailed information on factors that will drive the growth of the Digitizer Market between 2023 and 2027

• Precise estimation of the size of the Digitizer Market size and its contribution to the market in focus on the parent market

• Accurate predictions about upcoming trends and changes in consumer behavior

• Growth of the Digitizer Market industry across North America, Europe, APAC, Middle East and Africa, and South America

• A thorough analysis of the market’s competitive landscape and detailed information about vendors

• Comprehensive analysis of factors that will challenge the growth of Digitizer Market vendors

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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

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