According to HTF Market Intelligence, the Global Drawing Boards market to witness a CAGR of 5.5% during forecast period of 2023-2028. Global Drawing Boards Market Breakdown by Application (Education, Commercial, Home Use, Others) by Material Type (Metal, Plastic, Wood, Others) by Distribution Channel (Offline, Online) by Price Segment (Low, Medium, High) by End Users (Children, Students, Professionals, Artists) and by Geography (North America, South America, Europe, Asia Pacific, MEA). The Drawing Boards market size is estimated to increase by USD 4.2 Billion at a CAGR of 5.5% from 2023 to 2028. The report includes historic market data from 2017 to 2022E. Currently, market value is pegged at USD 4.7 Billion.
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Drawing boards are specialized surfaces used by artists, architects, engineers, and designers to sketch and plan their ideas manually.
Drawing Boards market – Key Segment Analysis
The market share growth by the Metal, segment will be significant during the forecast period. The segment is driven by the Increasing adoption of graphic design, animation, and digital art in various industries..
Drawing Boards market – Competition Analysis
The global Drawing Boards market is seeing several joint ventures to intensify the capability of manufacturers and/or companies to establish geographic footprints to new territory. The vendors are accelerating M&A strategies to expand their geographical reach, which is shaping the market toward new growth cycle. The list of players that are profiled in the study are Staedtler (Germany), Flash Furniture (United States), Yaheetech (United States), Best Choice Products (United States), STUDIO DESIGNS (United States), Harper and Bright Designs (United States), Artie’s Studio (United States), Costway (United States), Tangkula (United States), Coaster (United States), Others.
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Drawing Boards
Market Drivers
- Increasing adoption of graphic design, animation, and digital art in various industries.
Market Trend
- Rising interest in traditional art forms and hobby drawing has also sustained demand for traditional drawing boards.
Market Opportunities
- Collaborations between drawing board manufacturers and software developers to integrate innovative features.
Market Restraints
- High cost of advanced digital drawing boards.
Market Challenges
- Balancing the demand for traditional and digital drawing boards.
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What key data is demonstrated in this Drawing Boards market report?
- CAGR of the market during the forecast period
- Detailed information on factors that will drive the growth of the Drawing Boards market between 2023 and 2028
- Precise estimation of the size of the Drawing Boards market and its contribution to the parent market
- Accurate predictions about upcoming trends and changes in consumer behaviour
- Value in dollar term and growth of the market industry across APAC, Europe, North America, South America, and Middle East and Africa; further broken down by major country within region.
- Thorough analysis of the market’s competitive landscape and detailed information about vendors
- Comprehensive analysis of factors that will challenge the growth of Drawing Boards market players
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FIVE FORCES & PESTLE ANALYSIS:
In order to better understand market conditions five forces analysis is conducted that includes the Bargaining power of buyers, Bargaining power of suppliers, Threat of new entrants, Threat of substitutes, and Threat of rivalry.
• Political (Political policy and stability as well as trade, fiscal, and taxation policies)
• Economical (Interest rates, employment or unemployment rates, raw material costs, and foreign exchange rates)
• Social (Changing family demographics, education levels, cultural trends, attitude changes, and changes in lifestyles)
• Technological (Changes in digital or mobile technology, automation, research, and development)
• Legal (Employment legislation, consumer law, health, and safety, international as well as trade regulation and restrictions)
• Environmental (Climate, recycling procedures, carbon footprint, waste disposal, and sustainability)
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