Growing preference for smart equipment and escalating trend towards using bring-your-own devices by several educational institutes have paved a way for the expansion of the stylus pen for education industry.
Surging demand for laptops and smartphones due to rise in online education has promoted the expansion of the global stylus pen for education market. Massive use of stylus pen in mobile electronic documentation will create new avenues of growth for the global industry. Growing preference for smart equipment and escalating trend towards using bring-your-own devices by several educational institutes have paved a way for the expansion of the stylus pen for education industry. The market for stylus pen for education gained traction during the COVID-19 pandemic as large number of students were imparted online education to restrict spread of the disease. According to the study published by the Allied Market Research, the global stylus pen for education market, which garnered earnings worth $55.7 million in 2019, is anticipated to accrue revenue worth $99.3 million by 2027.
Key players in the global stylus pen for education market are implementing strategies such as the launching of new products aimed at introducing advanced and innovative stylus pens for educational purpose. In addition, the new product offerings are intended at helping students for improving their performance in online examinations. Furthermore, the strategy of implementing new product launching strategy has helped the industry participants in increasing their consumer base globally. Furthermore, strategic acquisitions have helped industry players in increasing their brand presence in education domain along with increasing its acceptance in reputed educational institutions across the globe. This, in turn, will open new growth dimensions for the stylus pen for education market across the globe. The business strategy of acquisition will also help the firms in establishing strong position in the global stylus pen for education market. Moreover, the acquisition strategy is implemented by key participants for gaining a competitive advantage in business along with garnering huge returns on investments (ROIs). The strategy of new product launches and acquisitions is predicted to aid the firms in minimizing the customer defection rate along with acquiring new customers as well as creating value proposition for their products. Let us discuss some of the ongoing trends observed in the global stylus pen for education market and strongly impacting its expansion.
HuatenMax Introduces Cutting Edge Stylus Pen to Boost Stylus Pen Demand in Education Activities
New product launches have played a pivotal role in leveraging expansion of the stylus pen for education market. HuatenMax, a key wireless charging apple pencil stylus pen producer, launched a cutting edge stylus pen having wireless charging functionality, thereby enabling iPad user to try their hands on these pens. The strategic move is predicted to create a strong growth foundation for the global stylus pen for education market. Microsoft Corporation launched Classroom Pen 2 so that each student can make more progress in domain of education and is aimed at improving handwriting of students. Adonit, a key player offering stylus products for Android, iPad, and iPhone, introduced Neo Pro, the first iPad stylus pencil that is magnetically stored and wirelessly charged on iPad. Such moves are predicted to contribute notably towards expansion of stylus pen for education market across the globe.
Continuing with the trends of new product launches, Logitech introduced new rechargeable stylus pen for universal stylus initiative-driven chromebooks and touch screen chromebooks. This will help students engage effectively with online learning tools. Reportedly, the new Logitech Stylus pen will help students in digitally writing, drawing, and designing in class without require to pair with anything. Moreover, the product provides comfort to the students and is available in different shapes and sizes, grips, and holds. The initiative is likely to enhance the use of stylus pen in educational activities in the years to come. In addition, the Samsung firm launched Samsung Galaxy S22 Ultra 5G smartphone along with in-built stylus pen. The move is intended to boost the growth of the stylus pen for education industry across the globe.
Microsoft Corporation Acquires N-trig To Expand Its Reach in Stylus Pen Business
Strategic acquisitions is likely to bring a paradigm shift in the growth of the stylus pen for education industry. Microsoft Corporation acquired N-trig, digital pen firm and tech supplier of Surface Pro 3. The move will contributed sizably towards growth of stylus pen for education market globally.
Market Players are Implementing Key Business Strategies to Increase Their Customer Base
Industry participants are focusing on implementation of key business strategies such as new product launches and acquisitions aimed at expanding their consumer base as well as gains. Furthermore, these key business strategies have proved beneficial for the global market and are projected to chart a profitable growth map for the global stylus pen for education market. Successful implementation of these strategies help players in gaining first mover advantage along with contributing towards product diversification. This, in turn, will open new growth opportunities for the global industry.
Author Biography- Dhananjay Punekar is writer, avid reader & book lover, and interested in watching sports. He holds post graduate degree in management and is working as a Sr. Specialist Content Writer at Allied Market Research. He can be reached at dhananjay.punekar@alliedanalytics.com
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