LONDON–(BUSINESS WIRE)–The global digital publishing market for the education sector is expected to grow at a CAGR of close to 13% during the period 2017-2021, according to a new market research study by Technavio.
The report categorizes the global digital publishing market for the education sector by end-user that includes K-12, higher education, and corporate/skill-based. The report also determines the geographic breakdown of the market in terms of detailed analysis and impact, which includes key geographies such as APAC, the Americas, and EMEA.
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Market driver: growing digitization contributing to change in learning methods in education sector
As educational institutions are highly focused on increasingly investing in information and communication technology (ICT) there will be a rise in the shift in the method used to impart knowledge. The shift will be from traditional modes such as printed textbooks to digital modes such as e-readers, smartphones, and tablets. Due to the emergence of digitization in the education sector, a significant change has been observed in the learning and teaching methods. With the assistance of advanced technologies, education has become stress-free for both the educators and students.
According to Akash Pandey, a lead analyst at Technavio for education technology research, “Schools are installing and implementing digital teaching solutions to make learning increasingly interactive with the use of smartphone and iPads. With the help of ICT in education, better understanding and practical approach to learning can be provided to students. This is mostly because Gen Z students want to enhance their learning experience and continue to learn outside of classrooms as well. With digitization, students can learn and acquire knowledge at their own pace both inside and outside classrooms.”
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Market trend: emergence of new technologies in digital publishing for education sector
Technologies such as Big Data, cloud computing, and social media hold a substantial opportunity for vendors. The number of activities that can be performed by students on online and mobile platforms will offer a significant growth opportunity to vendors. These technologies can be embedded in systems for improving customer experience. Many players have innovated digital products based on these solutions.
Market challenge: threat from open educational resources and alternative textbook sources
The availability of free content online has reduced the revenue of published products. Moreover, the subscription to a comprehensive database is expensive. Hence, open educational depository websites are created online. The information available in these resources is extremely high in scientific and technical publishing, with as much as 35% of the information available online in fields such as earth science.
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Key vendors in the market
- Georg von Holtzbrinck
- Hachette Livre
- McGraw-Hill Education
The competition among the vendors in the global digital publishing market for the education sector is quite intense. This is due to the presence of numerous small and large vendors. This is owing to the rise in demand for e-books, digital journals, and digital magazines. Vendors have adopted strategies such as providing customized content to educational institutions. The vendors need to focus on demands from developed as well as developing countries. In developed countries, educational institutions provide digital content for providing a better learning experience to students, whereas in developing countries the demand will increase due to the growing government concern for providing quality education to students.
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