The value of the global digitizer market is predicted to be around $1,452.5 million in 2022. From 2022 to 2032, the global digitizer market is anticipated to grow at a 16.7% CAGR, reaching a value of US$ 6,786.0 Million.
Due to the rising popularity of mobile phones, tablets, and other devices with embedded digitizers, the market for digitizers is predicted to expand at a healthy CAGR in the near future. Tablets and mobile devices are now an essential component of modern life. Nobody can imagine life without a smartphone. The main use of digitizers is for this. Digitizers convert analogue signals to digital signals, and that is all they can do.
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Digitizer Market: Drivers and Challenges
Growing CAD market is one of the major drivers of the digitizer market. As nowadays, CAD software is used in every industry namely automotive, aerospace and defense, industrial machinery and electrical and electronics industry, the growing use of CAD software is expected to have a direct impact on the digitizer market. Improved fidelity measurement, signal integrity, and measurement throughput are some other factors involved in rising adoption of digitizers in various fields
The high cost is the primary factor hindering the growth of this market, as the graphic tablets are quite expensive. Due to several other options available, people can avoid the high investments involved in digitizers. As the digitizers are worn out or damaged out over the course of their lives, the costs involved increase when the repairs and replacements are considered. Though may not be accepted in short terms, in long term preferred investments for industrial applications can be expected to boost the digitizer market growth.
Market Competition
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.
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Recent Developments in the Digitizer Market:
- In June 2022, Agilent Technologies Inc. announced that its customer demonstration laboratory in Waldbronn, Germany, has acquired My Green Lab Certification at the highest level, the gold standard in laboratory sustainability best practises.
Regional Overview
The Digitizer market is sub-segmented into 7 key regions- North America, Latin America, East Europe, West Europe, Asia-Pacific excluding Japan, Japan and Middle East & Africa. The APAC region is expected to be the fastest-growing region in the digitizers market. The major reason being the increasing adoption of CAD software in automotive industries.
While North America, an early adopter of the technology exhibited a significant growth with the introduction of digitizers, the trend expected to continue over the forecast period. In the developed economies of the US and Canada, there is a high focus on innovations obtained from Research and Development (R&D) to increase accuracy and thus is expected to boost the market growth
Key Segments Profiled in the Digitizer Industry Survey
Digitizer Market by Type:
- Digitizer without Display
- Embedded Display Digitizer
Digitizer Market by Application:
- Automotive
- Aerospace & Defense
- Industrial Machinery
- Electrical & Electronics
Digitizer Market by Region:
- North America Digitizer Market
- Latin America Digitizer Market
- Europe Digitizer Market
- Asia Pacific Digitizer Market
- Middle East & Africa Digitizer Market
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