Digital Educational Publishing Market Predicted to Grow at a Stunning CAGR of 15.9% in the 2022-2031 Timeframe [237-Pages] | Acclaimed by Research Dive
The global digital educational publishing market is expected to witness significant growth by 2031, owing to the rising adoption of smartphone devices internationally. The Asia-Pacific region is expected to be the fastest growing.
NEW YORK, June 9, 2023 /PRNewswire/ --
Global Digital Educational Publishing Market Forecast Analysis
As per the report published by Research Dive, the global digital educational publishing market is projected to garner a revenue of $41,498.9 million and rise at a striking CAGR of 15.9% during the forecast period from 2022-2031.
Segments of the Digital Educational Publishing Market
The report has divided the digital educational publishing market into the following segments:
- Product Type: digital textbooks, digital assessment books, and others
- Digital Textbooks - Expected to hold the largest market share by 2031
Digital textbooks are less expensive to update, help to assess students' progress, and allow individual teachers to create e-texts for their courses which are expected to magnify the growth of the market sub-segment over the analysis period. - End-User Industry: K-12, higher education, corporate or skill-based
- K-12 – Held the maximum market share in 2021
K-12 schools are gaining popularity as these emphasize the importance of life skills and social-emotional learning, which is the major factor predicted to propel the growth of the market sub-segment further. - Region: North America, Europe, Asia-Pacific, and LAMEA
- Asia-Pacific - Predicted to have wide growth opportunities by 2031
The availability of smartphones in the region with low prices due to the rapid competition among manufacturers and service providers is expected to boost the regional growth of the market throughout the estimated period.
Dynamics of the Global Digital Educational Publishing Market
The increasing penetration of smartphones, and tablets among consumers and their growing preference to read from device-compatible formats than from conventional print forms is expected to fortify the growth of the digital educational publishing market during the estimated timeframe. Moreover, the growing government initiatives to promote the adoption of digital technology are predicted to create wide investment opportunities over the forecast timeframe. However, open-source platforms such as Google Chrome, Mozilla Firefox, and many others may impede the growth of the market throughout the analysis period.
Covid-19 Impact on the Global Digital Educational Publishing Market
Though the outbreak of the Covid-19 pandemic has brought several uncertainties across various other industries, it has had a positive impact on the digital educational publishing market. This is mainly due to the spontaneous spread of the deadly virus. The shutdown of educational institutions such as schools and colleges has increased the adoption of online learning platforms during the pandemic period. In addition, the growing demand for digital platforms across companies to build business resilience and enable agility has further increased the growth of the market throughout the crisis.
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Key Players of the Global Digital Educational Publishing Market
The major players of the market include
- Cambridge University Press
- Pearson
- Cengage Learning
- Hachette Livre
- John Wiley & Sons
- Georg von Holtzbrinck
- Oxford University Press
- McGraw-Hill Education Inc.
- Thomson Reuters
- Scholastic Corp.
These players are broadly working on the development of new business strategies such as mergers and acquisitions, partnerships and collaborations, and product development to attain a leading position in the global industry.
For instance, in February 2022, Scholastic, the world's largest publisher and distributor of children's books announced its partnership with SoapBox Labs, a leading developer of speech technology software. With this partnership, the companies aimed to develop a new foundational skills curriculum for students, namely, Ready4Reading. It would be the reading product of Scholastic that would leverage SoapBox technology across U.S. schools.
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What the Report Covers
Apart from the information summarized in this press release, the final report covers crucial aspects of the market including SWOT analysis, market overview, Porter's five forces analysis, market dynamics, segmentation (key market trends, forecast analysis, and regional analysis), and company profiles (company overview, operating business segments, product portfolio, financial performance, and latest strategic moves and developments.)
More about Digital Educational Publishing Market:
- How is the Digital Educational Publishing Market Progressing and Innovating Learning Experiences?
- Global Digital Educational Publishing Market to Experience Noteworthy Growth by 2031 With Increased Adoption of Digital Technology in the Education Sector
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