Global Digital Drawing Tablet Market 2020 (Includes Business Impact of COVID-19)

                                          
The Global Digital Drawing Tablet Market was valued at US$ XXX Mn in 2018, and has been projected to reach a revenue value of US$ XXX.X Mn over the next 10 years. The market report is expected to exhibit or register a CAGR of XX.X% over this period of forecast. The global digital drawing tablet market has been segmented on the basis of type, application, and region.

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Global Digital Drawing Tablet Market: Product Overview

Drawing tablets –  also known as graphics tablets, pen tablets, or digitizers – are computer input devices that are primarily used by digital artists. These devices are also used by non-artists for a range of artistic applications, and users can create images or sketches, graphic designs, and animations, and this can be hand-drawn. Use of drawing tablet can be as comfortable and easy as digitally using a pen or stylus, pencil, or airbrush. These devices come with different levels of sensitivity associated with pressure that is applied on the surface using the digitizer pen or stylus. The devices can also be used to capture data or handwritten signatures. Through pressure sensitivity, a user or artist experiences a more precise and natural feel, unlike a standard computer mouse while drawing.

Market Drivers and Restraints

Demand for more modern and technologically advanced devices is being supported by a rapidly growing and expanding digitization trend, increasing preference towards more hi-tech approaches and technology in advertising and entertainment sectors and industries, and rising demand among artists, both commercial and independent, are among some of the primary factors resulting in higher adoption of these devices. In addition, established as well as new entrants in the target market are increasingly focusing on developing and producing more lightweight and compact devices as compared to earlier used PCs and laptops. These developments and availability of consumer-friendly purchase options in various developed as well as developing countries is further resulting in independent or private purchase of these devices, which were at one time out of reach for some buyers.

However, initial investment for digital drawing tablets may be considered on the higher side by some artists or small studios. Furthermore, cost of devices vary based upon on the size and model. This is projected to be a major factor hampering growth of the target market to a certain extent.

Market Opportunities

Technological developments and products with advanced features in the global digital drawing tablet market is another major factor projected to create significant opportunities in terms of revenue in the global market in the coming 10 years.

Segment Analysis

By Type:

Among the type segments, the 1024 level of pressure sensitivity segment is projected to register highest CAGR in the global market. This can be attributed to increasing preference for these products, as the pressure required to use these is sufficient and ideal for entry-level artists to control line thickness, transparency, color, and blending.

By Application:

Among the application segments, the industrial design segment is expected to account for major revenue share in the target market, owing to increasing demand for digital drawing tablets with advanced features, especially from professional artists in order to display enhanced 3D images.

Market Analysis by Region:

The digital drawing tablet market in North America is expected to dominate with major revenue share and is projected to continue with its dominance in the global market over the period of next 10 years. North America market revenue share is primarily driven by trend of early adoption of advanced technologies in countries in this region. Europe market is projected to register moderate growth rate over the forecast period, owing to changing individuals’ preferences, along with rising spending capacity in countries in Europe. The market in Asia Pacific is expected to register significant growth rate, especially in countries such as India, China, and Japan, owing to increasing number of opportunities and jobs in several sectors.

Competitive Analysis:

Most of the prominent players such as Wacom Co., Ltd., Huion, UGEE Co., Ltd., among others are based in Asia Pacific market and hold comparatively higher revenue share in the global market. The digital drawing tablet market can be easier for new entrants to penetrate in and gain customer-base if entered with products developed using enhanced high-tech technology. However, due to robust competition, sustaining in the market can be challenging.

Company News:

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 all-in-one solution to a desktop computer. This product was designed in order to meet the ever-growing demands from professional artists who demand a drawing device that can be used at any location, while standalone or while traveling. In addition, it enables artists, engineers, and designers to use full versions of even the heaviest creative software applications.

Global Digital Drawing Tablet Market Segmentation:

Segmentation by Type:

1024 Level
2048 Level
Others

Segmentation by Application:

Industrial Design
Advertising
Animation & Film
Others