According to Custom Market Insights (CMI), The Global Digital Education Publishing Market has presented a growth of USD 10.12 billion by 2021 and is expected to touch USD 30.4 billion by the end of 2030 at a compound annual growth rate of 18.5% during the forecast period.
A digital platform for education and learning, provided to people with the help of the Internet and smart devices, helps spread awareness. The increasing fashion for online education and online books has allowed the market for digital education publishing to record tremendous revenue over the period. In addition, the growing cost of books and the education system has boosted the demand for such digital platforms, which proved cheaper and more accessible for people.
Browse the full “Digital Education Publishing Market Size, Trends and Insights By Product Type (Digital assessment books, Digital textbooks, Others), By End User (higher education, K12, Corporate or skill-based), and By Region – Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2023–2032” report at https://www.custommarketinsights.com/report/digital-education-publishing-market/
Market Dynamics
Drivers
The rapidly increasing awareness regarding the various techniques and sources of education has helped the digital education publishing market record considerable revenue over the period. In addition, the increasing penetration of smart devices worldwide has boosted the development of the digital education publishing market.
The vast number of people who use smart devices and the Internet has emerged as the driving forces for the growth of the digital education publishing market. The government and numerous educational bodies have taken initiatives to provide educational facilities to the people with the help of digital platforms. The aim is to increase the literacy rate through digital media that give people knowledge and awareness.
Restrains
The higher cost associated with using advanced technologies and the Internet has emerged as a significant obstacle to the growth of the digital education publishing market. In addition, the availability of smart devices among people does not prove to be a good factor for the market’s growth, as the availability of internet connectivity becomes inevitable for accessing educational platforms. Rural areas have been provided with smart devices, but an active Internet connection is still a significant obstacle to the growth of the digital education publishing market. These multiple reasons emerge as restraining factors for developing the digital education publishing market.
Opportunities
Various initiatives have been taken up by private organizations and government bodies all over the world in different countries to boost the market for digital education publishing systems. The government has provided facilities to people in many parts of the world by providing them with smartphones and devices to help them educate themselves and find different opportunities. Education has been imparted through digital platforms to attain a higher literacy rate among the people.
The long-distance courses that many educational institutes provide have also boosted the market’s growth to a great extent. Increasing investments made by the key market players to expand the market size have also emerged as a significant opportunity. These multiple reasons have emerged as opportunities for the growth of the digital education publishing market.
Challenges
The existence of open-source platforms that provide education and information free of cost has challenged the key market players in society. Open-source platforms such as Google Chrome and Mozilla Firefox have provided information on a large scale which helps to educate the masses without charging them for it.
Lack of connectivity and availability of the Internet in many parts of the world has emerged as a significant challenge for the growth of the digital education publishing market. In addition, the high cost associated with using the Internet has also emerged as a considerable challenge for developing this platform. These multiple reasons have emerged as the challenges in front of the market during the forecast period.
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Regional Snapshots
The geographical sector of North America has emerged as the largest market for digital education publishing systems due to the extensive use of digital platforms and the Internet in this region. In addition, rapid advancements have occurred in this geographical sector due to the use of modern devices and technology adopted by the educational system.
The increasing trend of working from home Has helped the market to record considerable revenue over the period. Furthermore, the flexible working conditions that the companies have provided have also boosted this platform significantly. In addition, the increasing demand for online communication over the person’s physical existence has helped digital education publishing platform record tremendous revenue over time.
Key Players
- Scholastic Corp.
- McGraw-Hill Education Inc.
- Georg von Holtzbrinck
- Hachette Livre
- Pearson
- Cambridge University Press
- Cengage Learning
- John Wiley & Sons
- Oxford University Press
- Thomson Reuters
Table of Contents: https://www.custommarketinsights.com/report/digital-education-publishing-market/#table-of-contents
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