The Global Smart Notebook Market was valued at USD 95 Mn in 2020 and is expected to reach USD 290.2 Mn by 2027, with a growing CAGR of 17.3% during the forecast period.
With the growing emphasis on minimizing paper usage and the significant growth in the markets for digital education platforms and E-learning software, the market in coming years is projected to grow rapidly. Virtual notebooks can be created by compiling notes, images, and other media. In the stationary segment, smart notebooks made of non-tearable reusable paper have emerged as one of the most useful innovations. Researchers have continued to look for new alternative materials that can replace conventional paper. Eventually, they discovered polyester-based sheets that can be used to write on and later exposed to friction and heat can be used to erase the written material. The global smart notebooks market is expected to grow at an impressive rate during the forecast period, driven by the growing use of notebooks by students, professionals, designers, and architects.
One of the most significant factors that is driving demand for smart notebooks is the increased use of smart solutions in the education sector. As a result of the growing demand for creative stationery products, concern over cutting down on paper consumption, and cloud integration into a product with such simplicity, this market continues to grow.
Based on notebook type, the erasable notebook segment is expected to grow at a CAGR of around 18.2% throughout the forecast period owing to the reusability of the product. Reusability is one of the most important factors which is enabling the growth of this market. Easy to erase and store ability of smart notebooks are also positively impacting environmental impact, by minimizing pulp and paper usage in notebooks. The erasable text offers unlimited pages which is also the second most marketing tagline used by manufacturers, because of which the segment is likely to show tremendous growth in the next few years compared to the non-erasable segment.
The lack of awareness of smart notebook availability in emerging economies such as India, Brazil, Mexico, and others will hinder the growth of the market. Moreover, storage integration issues are one of the major factors that hamper the growth of the smart notebook. However, the increasing adoption of digital technologies in the education sector is one of the significant opportunities for the growth of the market.
Global Smart Notebook Market by Region Outlook (Revenue, USD Million, 2021-2027):
In terms of geography, North America dominate the global market and is expected to dominate the market throughout the forecast period. The growth in the region is mainly attributed to the high consumer awareness coupled with high purchasing power.
The Global Smart Notebook Industry Segmentation:
Global Smart Notebook Market by Component Outlook (Revenue, USD Million, 2021-2027)
Global Smart Notebook Market by Notebook Type Outlook (Revenue, USD Million, 2021-2027)
Global Smart Notebook Market by Number of Pages Outlook (Revenue, USD Million, 2021-2027)
Global Smart Notebook Market by Distribution Channel Outlook (Revenue, USD Million, 2021-2027)
Global Smart Notebook Market by End User Outlook (Revenue, USD Million, 2021-2027)
The key players operating in the smart notebook market are: