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The Calculators Market is projected to grow by USD 374.21 million with a CAGR of 4.15% during the forecast period 2021 to 2026.
This calculators market research report provides valuable insights into the post-COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers the calculators market segmentation by type (basic, financial, scientific, and graphic) and geography (North America, Europe, APAC, South America, and the Middle East and Africa). The calculators market report also offers information on several market vendors, including Ativa Interactive Corp., Canon Inc., Casio Computer Co. Ltd., Datexx, Deli Group Co. Ltd, Flair Writing Industries Ltd, Hamilton Writing Instruments Pvt. Ltd., HP Inc., Lyreco SAS, Maxi Aids Inc., Newsunda Industries Co. Ltd., Orbit Research, Orpat Group, Sharp Corp., Sunway Electronics Co., Texas Instruments Inc., Ultmost Technology Group, Victor Technology LLC., Amplify Education Inc., and Citizen Watch Co. of America Inc. among others.
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The transition in the education ecosystem is notably driving the calculators market growth, although factors such as the increased adoption of disruptive ICT may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic's impact on the calculators market industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Calculators Market Driver
The transition in the education ecosystem is one of the key factors driving the global calculators market growth. The education sector worldwide is undergoing a major transformation. The introduction of ICT in education, which was already in progress before the COVID-19 pandemic, has not only accelerated online teaching but also the digitalization of tests and learning materials. Vendors are taking an integrated approach toward developing their products and services by leveraging these technological capabilities. For instance, in March 2021, Casio Computer Inc. (Casio) identified the needs of each school and responded flexibly to their individual situations by providing online support software for scientific calculators and online-based support activities for teachers.
Key Calculators Market Trend
The development of next-generation scientific calculators will fuel the global calculators market growth. Vendors are focusing on improving products and services to provide all-around support in response to the increasing use of ICT in the educational environment. For instance, Casio is emphasizing on development of a next-generation scientific calculator, which is adaptable to the use of ICT in face-to-face learning. Furthermore, vendors also trying to broaden the options for schools, teachers, and students through the launch of products and services like graphic calculators that are compatible with all educational environments. For instance, ClassPad.net services is a mathematical learning tool that enables personal computers and tablets to perform scientific calculations and draw graphs. The services have been rolled out mainly in North America and Europe, where the digitalization of education is advancing rapidly.
Key Calculators Market Challenge
The increased adoption of disruptive ICT is the major challenge to the global calculators market growth. The disruption caused by ICT in the education and financial sectors has negatively impacted the global calculators market. In the educational environment, the traditional/rote mode of learning in higher education relied heavily on calculators for different calculations like trigonometry, algebra, and other scientific applications. But, the introduction of ICT, which was already in progress, has accelerated the transformation in the education sector. Not only the switch to online teaching but also the digitalization of tests and learning materials is expected to continue going forward. This has compelled vendors to make the required changes in their business offerings. For instance, Casio's business performance was heavily impacted by the transition of schools to the online model during the pandemic, which led to a decline in both revenues and profits. In order to overcome the challenges due to this transition, the company provided all-around support in response to the increasing use of ICT in the educational environment by expanding its ClassPad.net services. This is a mathematical learning tool that enables personal computers and tablets to perform scientific calculations and draw graphs for graphical calculations.
This calculators market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Technavio categorizes the global calculators market as a part of the global consumer electronics market within the global household durables market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the calculators market during the forecast period.
The report analyzes the market’s competitive landscape and offers information on several market vendors, including:
This statistical study of the calculators market encompasses successful business strategies deployed by the key vendors. The calculators market is fragmented, and the vendors are deploying organic and inorganic growth strategies to compete in the market.
To make the most of the opportunities and recover from the post-COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments while maintaining their positions in the slow-growing segments.
The report on the calculators market contains comprehensive market knowledge and an in-depth vendor landscape add-on to an analysis of the key vendors.
Our report provides extensive information on the value chain analysis for the calculators market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
The value chain of the global household durables market includes the following core components:
The report has further elucidated other innovative approaches being followed by manufacturers to ensure a sustainable market presence.
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31% of the market’s growth will originate from Europe during the forecast period. Germany and France are the key markets for calculators market in Europe. Market growth in this region will be slower than the growth of the market in other regions.
The transition in the education ecosystem will facilitate the calculators market growth in Europe over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID-19 Impact and Recovery Analysis
The outbreak of COVID-19 in 2020 reduced the demand for calculators, as European countries were forced to implement lockdowns, which halted operations in schools, colleges, and business firms, besides reducing the demand for calculators significantly among consumers. Along with supply chain disruptions, the regional market saw a decline in production as the required workforce could not attend to production operations. However, the e-commerce sector witnessed little growth as corporate employees and students needed calculators to do their work. Going forward, the demand for calculators is expected to rise in the region, following the gradual resumption of operations and the resumption of classroom-based teaching in educational institutions during the forecast period.
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The calculators market share growth in the basic segment will be significant during the forecast period. A basic calculator is a four-function calculator that can perform basic arithmetic calculations such as addition, subtraction, multiplication and division. This type of calculator accounts for the major share of the global calculator market.
This report provides an accurate prediction of the contribution of all the segments to the growth of the calculators market size and actionable market insights on the post-COVID-19 impact on each segment.
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Calculators Market Scope |
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Report Coverage |
Details |
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Page number |
120 |
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Base year |
2021 |
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Forecast period |
2022-2026 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 4.15% |
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Market growth 2022-2026 |
$374.21 million |
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Market structure |
Fragmented |
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YoY growth (%) |
3.9 |
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Regional analysis |
North America, Europe, APAC, South America, and the Middle East and Africa |
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Performing market contribution |
Europe at 31% |
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Key consumer countries |
US, China, Japan, Germany, and France |
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Competitive landscape |
Leading companies, Competitive Strategies, Consumer engagement scope |
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Key companies profiled |
Ativa Interactive Corp., Canon Inc., Casio Computer Co. Ltd., Datexx, Deli Group Co. Ltd, Flair Writing Industries Ltd, Hamilton Writing Instruments Pvt. Ltd., HP Inc., Lyreco SAS, Maxi Aids Inc., Newsunda Industries Co. Ltd., Orbit Research, Orpat Group, Sharp Corp., Sunway Electronics Co., Texas Instruments Inc., Ultmost Technology Group, Victor Technology LLC., Amplify Education Inc., and Citizen Watch Co. of America Inc. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Type
6 Customer Landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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