Digital Publishing Market Technology Prospectus with $37,940.7 Million by 2028

Online learning has grown significantly in the last decade as the internet and education have merged to provide people across the world with an opportunity to learn new skills. Udemy, Coursera, Lynda, Skillshare, and Udacity are among a few online learning systems. Different user verticals also influence the platforms. By offering online courses, top-tier universities are also democratizing education. Renowned colleges such as Stanford University and Harvard University offer online courses in computer science, engineering, mathematics, business, art, and personal development. These online courses provide students with digital versions of study materials and textbooks that they can use to prepare for online tests and other certifications. Thus, the rise in the adoption of online education across the region is also fueling the growth of the digital publishing market

According to our latest market study on “Digital Publishing Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Content Type and End User,” the Market is expected to grow from US$ 24,606.5 million in 2021 to US$ 37,940.7 million by 2028; and is estimated to grow at a CAGR of 6.4% from 2021 to 2028.

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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.

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. 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.

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.

Increasing Adoption of eBooks Among Schools and Universities
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.

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