New York, USA, Dec. 07, 2021 (GLOBE NEWSWIRE) -- According to the report published by Research Dive, the global digital educational publishing market is predicted to garner a revenue of $27,891.5 million by 2027, growing rapidly at a CAGR of 17.0% during the forecast period 2020-2027. The inclusive report provides a brief overview of the current scenario of the market including significant aspects of the market such as growth factors, challenges, restraints, and various opportunities during the forecast period. The report also provides all the market figures making it easier and helpful for the new participants to understand the market.
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Dynamics of the Digital Educational Publishing Market
Drivers: Surging penetration of smartphone devices among users across the globe is expected to drive the growth of the market during the forecast period. In addition, increasing initiatives taken by numerous institutes so as to provide distance learning facilities is further expected to bolster the growth of the digital educational publishing market during the forecast period.
Restraints: Presence of open source-platforms is expected to hinder the growth of the market during the forecast period.
Opportunities: Increasing initiatives taken by the governments of various countries across the globe to accelerate the penetration of digital technologies in the education sector is expected to create massive opportunities for the growth of the market during the forecast period.
Check out How COVID-19 impacts the Global Digital Educational Publishing Market: https://www.researchdive.com/connect-to-analyst/8354
COVID-19 Impact on the Digital Educational Publishing Market
The outbreak of coronavirus has had a significant impact on the growth of the global digital educational publishing market, owing to the prevalence of lockdowns in various countries across the globe. Lockdowns resulted in the shut down of all educational institutes, enforcing the schools and colleges to switch to online learning. Thus, the pandemic has had a positive impact on the growth of the market.
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Segments of the Digital Educational Publishing Market
The report has divided the digital educational publishing market into various segments based on product type, end-user, and region.
Product Type: Digital Textbooks Sub-segment to be Most Profitable
The digital textbooks sub-segment initially generated a revenue of $3,353.0 million in 2019, and hence is expected to surge exponentially at a CAGR of 16.5% during the forecast period. Digital textbooks are extremely economical, facilitates in monitoring progress of the students, and costs way lower when needed to update. Open-source e-textbooks may give the opportunity to develop free, modifiable textbooks for conventional subjects or might offer the opportunity to individual teachers to create their own content for their particular classes. This initiative might offer a superior access to quality texts in the modern world. These factors are expected to drive the growth of the digital educational publishing market during the forecast period.
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End-User: K-12 Sub-segment to be Most Beneficial
The K-12 sub-segment generated a revenue of $3,747.3 million back in 2019, and is further expected to grow rapidly during the forecast period. Increasing inclination towards real-life skills along with social-emotional learning provided by K-12 schools is expected to bolster the growth of the digital educational publishing market during the forecast period.
Region: North America Region Expected to Dominate the Market
The North America region is expected to generate a revenue of $9,444.3 million during the forecast period. Subsequent increase in online communications in this region is expected to drive the growth of the market. In addition, increasing penetration of smartphone among users coupled with the prevalence of work from home culture in this region is further expected to accelerate the growth of the regional market during the forecast period.
Key Players of the Digital Educational Publishing Market
1. Scholastic Corp.
2. McGraw-Hill Education Inc.
3. Georg von Holtzbrinck
4. Hachette Livre
5. Pearson
6. Cambridge University Press
7. Cengage Learning
8. John Wiley & Sons
9. Oxford University Press
10. Thomson Reuters
These players are working on developing strategies such as product development, merger and acquisition, partnerships and collaborations to sustain the market growth.
For instance, in July 2021, Byju’s, an innovative India-based education technology platform, acquired Epic, a US-based digital reading platform for kids 12 and under, in order to strengthen Byju’s strategy to maximize its presence in the US, and further and bridge the learning gap among kids there.
The report also summarizes many important aspects including financial performance of the key players, SWOT analysis, product portfolio, and latest strategic developments. Click Here to Get Absolute Top Companies Development Strategies Summary Report.
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