by Sameer Joshi
Substantial Growth of Edtech Companies in APAC to Provide Growth Opportunities for digital publishing Market during 2021–2028
According to our latest market study, titled " Digital Publishing Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Content Type (Text, Video, and Audio) and End User (Individual, and Enterprises) and Geography”. The Digital Publishing Market is expected to grow from US$ 24,606.5 million in 2021 to US$ 37,940.7 million by 2028; it is estimated to grow at a CAGR of 6.4% from 2021 to 2028.
Global Digital Publishing Market Growth Values, Regional and Industry Scope:
Market Size Value in- US$ 24,606.5 Million in 2021
Market Size Value by- US$ 37,940.7 Million by 2028
Growth rate- CAGR of 6.4% from 2021-2028
Forecast Period- 2021-2028
Base Year- 2021
No. of Pages- 129
No. of Tables- 56
No. of Charts & Figures- 71
Historical data available- Yes
Segments covered- Content Type and End User and Geography
Regional scope- North America; Europe; Asia Pacific; Latin America; MEA
Country scope- US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina
Report coverage- Revenue forecast, company ranking, competitive landscape, growth factors, and trends
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eBooks help educational organizations meet three key strategic priorities: improving the student experience and academic outcomes in an increasingly competitive environment; driving innovation in learning, teaching, and research; and assisting in the effective and efficient use of space and human resources. Ensuring timely access to key books has been a fundamental challenge for universities and their libraries for many years, as well as the lack of sufficient copies has regularly featured as the top complaint in student surveys. The adoption of eBooks is a convenient option as students can read them at anytime from anywhere, which helps meet their expectations in a better and efficient manner.
Digital Publishing Market: Competitive Landscape and Key Developments
HurixDigital; Vijua; VitalSource Technologies; Excelsoft Technologies; Impelsys Inc.; Issuu; Lulu Press, Inc., Kortext; Magic EdTech; and RedShelf are a few major companies operating in the digital publishing market.
In India, BYJU’s raised historical investment of US$ 540 million in 2018. A few of the key Edtech companies valued at ~US$ 1 billion in China and India include VIPKid with US$ 4.5 billion valuation, Yuanfudao (US$ 7.8 billion), Zuoyebang (US$ 6.5 billion), Knowbox (US$ 1 billion), iTutorGroup (US$ 1 billion), 17zuoye (US$ 1 billion), HuJiang (US$ 1 billion), BYJU’s (US$ 10 billion), and Unacademy (US$ 1.4 billion). In addition, K-12, higher education, lifelong learning, corporate learning, and early childhood education are among key Edtech sectors receiving impressive investments. Along with the courses offered to the students, the Edtech companies provide complete digital study materials such as eBooks, chapter notes, and references for better understanding, The rise of ed-tech companies in APAC is expected to increase the demand for web text publishing, which would create lucrative opportunities for the digital publishing market in future.
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Impact of COVID-19 Pandemic on Digital Publishing Market
According to the latest situation report from the World Health Organization (WHO), the US, Spain, Italy, France, Germany, the UK, Russia, Turkey, Brazil, Iran, and China are among worst-affected countries due to the COVID-19 pandemic. In 2020, the world economy suffered significant consequences, and the effects are expected to endure to some extent. Factory shutdowns, travel and trade bans, and border lockdowns to combat and contain the infection have led to disruptions in primary industries. Due to the COVID-19 outbreak, a sharp decline in the growth of these industries restrains the growth of digital publishing market to some extent.
Digital Publishing Market Insights
Based on Content Type, the digital publishing market is characterized into and Text, Video, and Audio. The text segment was valued at US$ 14,959.8 million in 2020. Similarly, based on end-user, the digital publishing market is segmented into Individual, and Enterprises.
The surging focus on education in APAC countries, rising young population, increasing demand for smart and connected devices among students, and growing number of Edtech startups are a few factors that are driving the demand for education technology solutions in APAC. In education sector, virtual study material, online class, and self-paced learning are among the major technology solutions. China and India are two of the leading countries witnessing growing number of Edtech startups and rising investments in Edtech in past 3 to 4 years. China led the Edtech market in terms of Edtech investments (~55% share) globally.
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