In 2023, the global digitizer market is estimated to be worth around USD 1,673.3 million. The global digitizer market is expected to develop at a 16.8% CAGR from 2023 to 2033, reaching a value of USD 7,929.3 million by 2033.
The digitizer market is likely to grow at a solid CAGR in the near future due to the increasing use of mobiles, tablets, and other devices embedded with digitizers. Mobile phones and tablets have become an unavoidable part of modern life. Nobody can picture their day without their smartphone.
| Data Points | Key Statistics |
|---|---|
| Expected Market Value (2023) | USD 1,673.3 million |
| Anticipated Forecast Value (2033) | USD 7,929.3 million |
| Projected Growth Rate (2023 to 2033) | 16.8% CAGR |
This is the primary application of digitizers. Digitizers only do one thing: they transform analog signals into digital signals. Digitizers make digital artwork easier to create and, hence, more accurate. You can't always rely on a mouse. There are several types of digitizers, the most common of which are digitizers without displays. always rely on a mouse. There are several types of digitizers, the most common of which are digitizers without displays.
These digitizers are popular among architects and animation artists because they use a specialized digital pen to draw data accurately. The rising usage of e-learning and one-on-one learning is one of the most closely studied trends in the digitizer industry.
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The global demand for digitizers is projected to increase at a CAGR of 16.8% during the forecast period between 2023 and 2033, reaching a total of USD 7,929.3 million in 2033, according to a report from Future Market Insights (FMI). From 2018 to 2022, sales witnessed significant growth, registering a CAGR of 14.7%. The global demand for digitizer is projected to increase at a CAGR of 16.8% during the forecast period between 2023 and 2033, reaching a total of USD 7,929.3 million in 2033, according to a report from Future Market Insights (FMI). From 2018 to 2022, sales witnessed significant growth, registering a CAGR of 14.7%.
One of the primary drivers of the digitizer industry is the expanding CAD market. Because CAD software is utilized in every sector today, including automotive, aerospace and military, industrial equipment, and electrical and electronics, its increasing use is likely to influence the digitizer market directly. Other aspects that lead to increased digitizer usage include improved fidelity measurement, signal integrity, and measurement throughput.
Graphic tablets are relatively expensive, and the key reason impeding this market's growth is the high cost. People can avoid the high costs associated with digitizers by exploring alternate choices. The costs increase when repairs and replacements are added to the costs of digitizers as they wear out or are damaged over time. Although not acceptable in the short term, preferred investments for industrial applications can be predicted to improve the growth of the digitizer industry in the long run.
Expanding CAD Market to Drive Digitizer Market Growth
One of the primary drivers of the digitizer industry is the expanding CAD market. Because CAD software is increasingly utilized in every industry, including automotive, aerospace and military, industrial equipment, and electrical and electronics, its increasing use is likely to influence the digitizer market directly. Other variables influencing digitizer use in diverse industries include improved fidelity measurement, signal integrity, and measurement throughput.
For instance, Dassault Systèmes SE announced the release of 3DEXPERIENCE WORKS in February 2020, which gives SOLIDWORKS customers a linked, integrated, and automated manner of optimizing their work processes and saving time and money. The new offering also includes 3D Creator and 3D Sculptor, which are next-generation design applications that can run in any browser and allow users to extend and improve what they can do with SOLIDWORKS by choosing from dozens of other powerful 3DEXPERIENCE WORKS applications and only using the ones they need for their tasks.
High Cost of Digitizers to Impede Market Growth
The biggest impediment to the expansion of this industry is its high cost, as graphic tablets are relatively expensive. People might avoid the costly investments associated with digitizers because various solutions are accessible.
When the digitizers wear down or get damaged throughout their lives, the expenses for repairs and replacements rise. Though they may not be accepted in the short term, preferred investments for industrial applications are projected to drive digitizer market growth in the long run. Though they may not be accepted in the short term, preferred investments for industrial applications are projected to drive digitizer market growth in the long run.
Research and Development Creating Opportunities for Digitizer Providers
While North America witnessed tremendous growth with the introduction of digitizers, this trend is projected to continue during the projection period. In the developed economies of the USA and Canada, there is a strong emphasis on innovations produced via Research and Development to improve accuracy, which is predicted to drive market growth.
Due to these reasons, North America is expected to possess a 33.1% market share by registering a CAGR of 16.6% for the digitizer market in the assessment period 2023 to 2033.
Growing Use of CAD Software Fuelling Rapid Adoption
Asia Pacific is predicted to be the fastest-growing market for digitizers. The primary cause is the growing use of CAD software in the automobile industry.
For example, Nissan Motors, a Japanese automaker, has been under great pressure to build environmentally friendly vehicles, minimize time to market, and support their worldwide supplier. This prompted the firm to implement NX I-ideas and Siemens PLM Software NX, which significantly shortened the product development cycle and vehicle after-sales troubles.
The growing knowledge of the benefits of moving to the cloud and the rapid adoption of breakthrough technologies are some of the causes persuading organizations to modify their IT infrastructure to ensure future development. Organizations are embracing digitizers to improve customer experience and streamline company operations by empowering employees to make educated decisions. The growing number of mobile phone users, the expansion of web-based commerce, and the increased usage of data analytics are all aspects that are expected to drive to ensure future development. Organizations are embracing digitizers to improve customer experience and streamline company operations by empowering employees to make educated decisions. The growing number of mobile phone users, the expansion of web-based commerce, and the increased usage of data analytics are all aspects that are expected to drive the region's market growth. Thus, Asia Pacific is expected to procure a 15% market share for the digitizer market in 2023.region's market growth.
Based on type, the digitizer market is segmented into two types these are digitizers without a display and embedded display digitizers. The digitizer without a display is made from a flat pad and a specialized digital pen. These types of digitizers are popular among architects and animation designers.
On the other hand, embedded display digitizers do not require a specialized pen and allow the user to draw directly on the screen using anything, including a touch of the finger, which the screen interprets as input. The user may draw directly on the screen in this form of the digitizer. They greatly value Artists and other hobbyists. The most common form of digitizer is a digitizer without a display, and it is anticipated to grow at a CAGR of 15% in the sales indicator period 2023 to 2033.
Moon Digitizing, Bosto, Gammon Technology, Hanwang Technology, PenPower, Shenzhen Ugee Technology, Huion Technology, Tsinghua Tongfang, and ViewSonic are some of the startups in the digitizer market.
Some of the eminent players in the global digitizer market are Wacom, GTCO CalComp, Agilent Technologies, CD-digitizer, Immersion, Hongke, Spectrum, Aeroflex, ADLINK, Assomac, Han-Bond Group, and Aiptek International.
Recent Developments in the Digitizer Market:
| Report Attribute | Details |
|---|---|
| Market Value in 2023 | USD 1,673.3 million |
| Market Value in 2033 | USD 7,929.3 million |
| Growth Rate | CAGR of 16.8% from 2023 to 2033 |
| Base Year for Estimation | 2022 |
| Historical Data | 2018 to 2022 |
| Forecast Period | 2023 to 2033 |
| Quantitative Units | Revenue in USD million and CAGR from 2023 to 2033 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
| Segments Covered | Type, Application, Region |
| Regions Covered | North America; Latin America; Europe; Asia Pacific; Middle East and Africa |
| Key Countries Profiled | United States of America, Canada, Brazil, Mexico, Germany, United Kingdom, France, Spain, Italy, China, Japan, South Korea, Malaysia, Singapore, Australia, New Zealand, GCC Countries, South Africa, Israel |
| Key Companies Profiled | Wacom; GTCO CalComp; Immersion; Hongke; Spectrum; Aeroflex; ADLINK; Assomac; Han-Bond Group; Aiptek International |
| Customization | Available Upon Request |
The market is valued at USD 1.6 billion in 2023.
Wacom, GTCO CalComp, and Immersion are key market players.
From 2018 to 2022, the market registered a CAGR of 14.7%.
Continually expanding CAD market to boost the growth.
North America to expand at a CAGR of 16.6% through 2033.
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Digitizer Market
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