New York, Aug. 30, 2021 (GLOBE NEWSWIRE) — Digital Publishing Market: Key Insights
According to our new research study on “Digital Publishing Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Content Type, End User, and Geography,” the Digital Publishing Market is projected 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.
Digital Publishing Market: Competitive Landscape and Key Developments
HurixDigital (KITABOO); Vijua; and VitalSource Technologies are among key players profiled during the study of the digital publishing market. In addition, several other essential market players were also studied and analyzed to get a holistic view of the market and its ecosystem.
In 2021, The Certification Body of TÜV SÜD South Asia Private Limited has certified Impelsys with ISO 27001:2013 accreditation for the implementation of an Information Security Management System to design and develop SaaS-based content hosting and distribution platform.
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Based on content type, the global digital publishing market is segmented into text, video, and audio. Text content is content that is primarily composed of words. It comprises blog posts, white papers, email newsletters, and product websites, among other things. Digital publishing enables publishers to disseminate information to everyone, including persons with disabilities, using various media. If the publications are primarily text-based, add audio, informative films, visualized visuals, simple-to-use features, and enlarged graphics or text options to diversify them—print limits these options, excluding a vast audience who could benefit from one’s content. In digital publishing, video content is the most important component. Vlogs, animated GIFs, live videos, client testimonials, recorded presentations, and webinars are all forms of video content. It represents one of the most convenient modes of entertainment, which is accessible through smartphones, tablets, laptops and smart TVs. Audio content is a type of published information that is consumed through listening. Any audio entertainment or marketing collateral, such as podcasts, audiobooks, and artificial intelligence (AI) voice assistant skills or actions, falls under this category. Computer speakers, headphones, and smart speakers can all be used to play audio information.
North America dominated the digital publishing market in 2020. Europe is the second-largest contributor to the global digital publishing market in 2020, followed by APAC. The US, Canada, and Mexico are the key contributors to the digital publishing market in North America. North America is one of the frontrunners in terms of developing and accepting new and advanced technologies and digitalized platforms across all markets, including corporate sectors. The significant adoption of digitalization in the educational sector and training and development area in corporate in the last five years has fueled the demand for digital publishing in the region. Publishers of textbooks have been transitioning the books to digital format for a long time in North America. In the US, schools are rapidly equipping students and staff members with personal digital devices such as laptops, tablets, and ChromeBooks.
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For instance, in July 2019, Pearson, an education company, announced that they would publish all textbooks in digital form for the US college market. This strategy was adopted by the company to shift from traditional and expensive publishing model to modern publishing model. Furthermore, the rising penetration of internet across North America is creating opportunities for people to learn new skills on online/virtual learning platform. Udemy, Coursera, Lynda, Skillshare, and Udacity are a few online course providers that serve millions of individuals. Top-tier colleges are also democratizing education by offering online courses. Renowned universities, such as Stanford University and Harvard University, are providing online courses in computer science, engineering, mathematics, business, art, and personal development. As a part of these online courses, organizations provide digital study material and textbooks for students to refer and prepare themselves for online exams and other certifications. Thus, the rise in adoption of online education across North America is fueling the growth of the digital publishing market in the region. Additionally, the adoption of virtual or online corporate training has increased across North America over the years. Selfpaced time-to-time trainings are also highly adopted by the corporate sector to brush up skills of employees, which is fueling the growth of the digital publishing market in North America.
In self-paced or on-demand learning, students learn in their own time. In this type of learning, students in a same class work at their own pace to complete assignments and proceed through the course. The number of educational institutions, which offer online distance learning courses, is increasing because of the rising popularity of online and distance learning. The rising trend of distance learning is boosting the adoption of self-paced learning. Professionals who want to acquire higher educational degrees but cannot dedicate themselves to a full-time course due to work commitments generally undertake self-paced courses from institutions for career growth. For instance, upGrad Education Private Limit offers a self-paced Master of Business Administration (MBA) program from the Liverpool Business School across various functional domains to working professionals. The course provides a complete range of study material in digital format to all its registered students enabling them to go through and study the same at their own preferred timings. Thus, the rising adoption of self-paced learning across the world is expected to drive the growth of the digital publishing market in coming years.
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Digital Publishing Market: Content Type Overview
Based on content type, the global digital publishing market is segmented into text, video, and audio. Publishers can increase their revenue from audio ads by revitalizing the century-old format with new technology. People listen to more streaming music, digital radio, podcasts, and even text-to-speech news articles. Audio advertising has historically lagged behind internet advertising, forcing publishers to sell audio ads directly or retrofit video ads into a digital audio ad format, resulting in poor listening experiences and little publisher revenue. Google Ad Manager is expanding support for audio ads with new features like Dynamic Ad Insertion for audio, programmatic monetization, and new audio forecasting tools to help publishers monetize their digital audio content. Publishers will be able to monetize their digital audio content. Marketers will be able to target more relevant audio audiences, and listeners will hear higher-quality ads due to these new audio capabilities.
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