PORTLAND, Ore., March 9, 2021 /PRNewswire/ — Allied Market Research published a report, titled, “Stylus Pen Market by Type (Active and Passive), Platform Type (Chrome OS, IOS, Windows, and Android), Screen Type (Conductive and Resistive), and Application (Smartphones, Tablets, Laptops, and Others): Global Opportunity Analysis and Industry Forecast, 2020–2027.” According to the report, the global stylus pen industry was estimated at $0.83 billion in 2019, and is anticipated to hit $1.22 billion by 2027, registering a CAGR of 5.5% from 2020 to 2027.
Drivers, restraints, and opportunities-
Growing digitization, high demand from the Asia-Pacific region, increasing internet penetration, and rising adoption of smart devices drive the growth of the global stylus pen market. On the other hand, lack of preparation for technology in several underdeveloped nations impedes the growth to some extent. However, progressive development of digital content is expected to create lucrative opportunities in the coming years.
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- The electronics and semiconductor sector was immensely impacted during the first phase of the lockdown, due to the closure of maximum manufacturing & business units across the world.
- However, several government bodies are now coming up with relaxations on the existing dictates and the market is expected to get back to its…