The graphics tablet market is projected to reach US$955.017 million by 2024 from US$506.553 million in 2018 with a CAGR of 11.43%. Graphics tablet or a drawing tablet is a hardware device used for digital artistry. They are also used by multiple professionals for entertainment, art, architecture, prototype designing and more. It comprises of a touch-sensitive surface or screen with multiple pressure levels to allow the user more usability. The demand for these tablets will increase with the rising demand for the media and entertainment industry. Moreover, the demand for these devices will snowball with rising automation in the designing and prototyping segments of various industries such as building and construction, automotive, healthcare and more. However, the high cost of acquiring and maintenance will limit the demand for graphics tables during the forecasted period.
Growing trend towards digitization
Budding Media and Entertainment Industry
Advancements in regular tablets and touch display PCs
In March 2018, Wacom announced a new upgraded version of their Intous Pen Tablets for beginners and enthusiasts. The product comes bundled with software for drawing, painting and image editing.
In February 2018, Wacom announced their new Wacom Cintiq Pro 24 pen display. It comes with a 24-inch display and will be available in both pen and touch display versions.
The major players profiled in the graphics tablet market include Wacom, Huion Animation Technology Co., Ltd., Shenzhen Ugee Technology Development Co., Ltd., Xppen Technology Co., Monoprice, Inc., Gaomon Technology Corporation, Penpower Technology Ltd., and Parblo Inc. among others.
The graphics tablet market has been analyzed through the following segments:
Media and Entertainment
Art and Designing
Middle East and Africa