The global digital educational publishing market was valued at $8,400.8 million in 2019, and is projected to reach $27,891.5 million by 2027, at a CAGR of 17.0%.
Impact Analysis of COVID-19 on the Global Digital Educational Publishing Market
The coronavirus outbreak in 2020 has positively affected the digital educational publishing industry worldwide. Fear of contracting the COVID-19 disease along with strict social distancing rules implemented by developed as well as developing nations in order to prevent the virus transmission has led to a work and study from home structure for most employees and students. Moreover, the COVID-19 has resulted in schools being shut all across the world. As a result, education has changed dramatically, with the distinctive rise of e-learning, whereby teaching is undertaken remotely and on digital platforms. Educational institutions are promoting the use of e-books and digital publishing along with e-learning. As a result, the digital educational publishing market will witness a positive impact during the forecast period owing to the widespread growth of the coronavirus pandemic.
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Global Digital Educational Publishing Market Analysis
Increasing penetration of internet in many regions across the globe is a major factor driving the market growth. Growing adoption of cloud-based solutions coupled with huge investments by major market players towards enhancing the security and reliability of cloud-based education platforms, is further increasing its adoption among the end users. Availability of open-source materials might be a threat for the growth of digital educational publishing market.
Growing support and initiatives for digital educational publishing through government bodies in different regions is expected to create investment opportunities.
Digital Educational Publishing Market, Segmentation
The global digital educational publishing market is segment based on product type, end user, and region.
On the basis of product type, digital educational publishing market is segmented into digital textbooks, digital assessment books, and others. The digital textbooks sub-segment was the highest contributor to the market, with $ 3,353.0 million in 2019, and is estimated to reach $10,684.90 million by 2027, at a CAGR of 16.5% during the forecast period. Many schools and colleges around the world have made the implementation of digital textbooks a central component of education policy. A major selling point of digital textbooks is that they offer the opportunity for students to access multimedia content, such as embedded videos, interactive presentations, and hyperlinks.
On the basis of end-user, digital educational publishing market is segmented into K-12, higher education, and corporate or skill-based. The k-12 sub-segment was the highest contributor to the market, with $3,747.3 million in 2019, and is estimated to reach $12,215.10 million by 2027, at a CAGR of 16.8% during the forecast period. Government initiatives to improve the quality of education at the K-12 level across the world is expected to drive the sub-segment growth. Also, this sub-segment is driven by schools shifting from the traditional blackboard approach to integrating smart technology into learning environments.
The digital educational publishing market was investigated across North America, Europe, Asia-Pacific, and LAMEA. North-America was the highest revenue contributor, accounting for $2,945.4 million in 2019, and is estimated to reach $9,444.3 million by 2027, with a CAGR of 16.6%. Increasing in online communications along with rise in work from home structure across North America have led to an increased the demand of opting for digital publishing’s and is predicted to drive the region market. Asia-Pacific is the fastest growing, accounting for $1,844.9 million in 2019, and is estimated to reach $6,515.6 million by 2027, at a significant CAGR of 18.0%. The growing penetration of technology facilitators in the region, coupled with increasing acceptance of online education, has bolstered the digital educational publishing market in this region.
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Key Players in the Global Digital Educational Publishing Market
McGraw-Hill Education Inc.
Georg von Holtzbrinck
Cambridge University Press
John Wiley & Sons
Oxford University Press
Along with the company profiles of the key players in the market, the report includes the Porter’s five forces model that gives deep insights into the competitive environment of the market.