Digital Drawing Tablet Market Size, Share & Trends Analysis Report Forecast 2024-2031.
Digital Drawing Tablet Market Size, Share & Trends Analysis Report Forecast 2024-2031.
Blog Article
Digital drawing tablet market is anticipated to grow at a significant CAGR of 4.5% during the forecast period. The rise in digitization, increasing preference towards more hi-tech approaches, and technology in most of the industries have shifted consumers' preference towards digital drawing or graphic tablets in the past few years. More and more artists are shifting to use these tablets owing to its easy carry feature as compared to traditional drawing. It has contributed to the growth of the market which can be seen in the market players' growth. For instance, as per the annual report of ViewSonic, the company faced 22% year-on-year growth in 2020.
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Impact of COVID-19 Pandemic on Global Digital Drawing Tablet Market
COVID-19 pandemic had restricted most of the industries owing to the lockdown in most of the countries. Government restriction to stop the spread of the virus had stopped most of the productions including digital drawing tablets but the effect was not that big as it did affect the other industries. For instance, as per the annual report of WACOM from April 2019 to March 2020, the net sales reached $765.6 million which was $773.6 million in the previous annual report. But as the situation got normal sales of the digital drawing tablet grew exponentially owing to the growing culture of work or study from home, and growing media consumption. As per the annual report of WACOM from April 2020 to March 2021, the net sales reached $ 938.1 million which was more than 21% as compared to the previous annual report.
by Type (Digitizer Tablet, Monitor Tablet, and Tablet PC), and
by Application (Industrial Design, Animation & Film, Advertising, and Other)
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Market Players Outlook
The major companies serving the global digital drawing tablet market include GAOMON TECHNOLOGY CORP., Hanvon Technology Co., Ltd., Samsung Electronics, ViewSonic Corp., Wacom, and others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers & acquisitions, collaborations, funding, and new product launches, to stay competitive in the market. For instance, on 3 September 2019, Wacom, Co. Ltd., announced its new product launch Wacom MobileStudio Pro 16, as an update to its category of high-tech mobile creative pen computers as an all-in-one solution to a desktop computer. The product was designed to full-fill demands from professional artists who request a drawing device that can be used at any place, while standalone, or while roaming. Additionally, it allows engineers, artists, and designers to use full versions of the heaviest creative software applications.
The Report Covers
Annualized market revenues ($ million) for each market segment.
Country-wise analysis of major geographical regions.
Key companies operating in the global digital drawing tablet market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
Analysis of market-entry and market expansion strategies.
Competitive strategies by identifying ‘who-stands-where’ in the market.
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