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Digital Publishing Global Market Report 2021: COVID 19 Implications And Growth to 2030

Digital Publishing Global Market Report 2021: COVID 19 Implications And Growth to 2030

  • May 2021
  • 175 pages
  • ID: 6071506
  • Format: PDF
  • The Business Research Company

Summary

Table of Contents

Major players in the digital publishing market are Thomson Reuters Corp., RELX Group Plc, Adobe Inc., Xerox Corp., Apple Inc., Verlagsgruppe Georg von Holtzbrinck GmbH, Amazon.com Inc., Netflix Inc., Comcast Corp. and Alphabet Inc.

The global digital publishing market is expected to grow from $51.06 billion in 2020 to $56.09 billion in 2021 at a compound annual growth rate (CAGR) of 9.9%. The change in growth trend is mainly due to the companies stabilizing their output after catering to the demand that grew exponentially during the COVID-19 pandemic in 2020. The market is expected to reach $75.4 billion in 2025 at a CAGR of 8%.

The digital publishing market consists of sales of digital content and related services in media industry.The digital publishing market includes the sales of digital content in the form of text, audio and video in the digital platforms like social media, website and search engine.

The digital publishing companies are primarily engaged in the developing of broad range of digital content like advertising and publishing by periodical advertising, educational content like journals and medical publishing, informative content like news, magazine, newsletter publishing and financial magazines.

Increasing digitization of books and educational information is contributing to the growth of digital publishing market.Conversion of the information into digital format contributed to the change in learning methods like the shift from traditional printed textbooks to digital modes such as e-readers, smartphones, and tablets.

For instance,, due to COVID 19 lockdown in mid-2020 across the globe, the sale of physical books has gone down as most of the publishing house and bookstores were closed and readers spent most of the time in reading e-books.In India, sale of physical books went down by 80% and sale of e-books had almost doubled during the lockdown.

Earlier pre-COVID 19, e-books or online newspaper and journals were popular among Generation Z or Millennials but during Covid 19 even Gen X and baby boomers too got aligned to this. Therefore, this trend is expected to be continued post COVID 19 also, thus driving the market for digital publishing during the period.

The threat from open educational resources and alternative textbook sources is one of the biggest challenges faced by digital publishing market.The market growth may be hindered by the availability and accessibility of either free or affordable resources on the web.

The revenue generated will be affected owing to the emergence of no-cost access, adaption and use of content available online with limited or no restrictions.For instance, in March 2018, Governor Andrew M.

Cuomo, announced that $8 million funding for the Open Educational Resources Initiative at SUNY and CUNY colleges in New York.The initiative was taken to cut down the text books cost which was around $1,200 a year.

Also, customers prefer nowadays less use of journals and resources which require subscription since there are a large number of resources available on online platform for free. Therefore, such factors are expected to restrain the market growth of digital publishing during the forecast period.

The digital publishing market covered in this report is segmented by type into text content, video content, audio content. It is also segmented by end user into scientific, technical, and medical (STM), legal and business and by application into smart phones, laptops, PCs, others.

Consumers are increasingly using internet-based set-top boxes for high quality video-content and audio-content. The global android set-top boxes market size is expected to reach $695.9 million by 2025 from $172.5 million in 2018 according to a market analysis. The Telecom Regulatory Authority of India (TRAI) has decided to completely shut down analog TV transmission by 2023 and recommended introduction of digital broadcast transmission. The rising adoption of Android STBs with integration of OTT apps in place of analog TVs is further expected to drive the digital publishing market.

In April 2020, Future Plc a UK-based global multi-platform media company expertise in specialist consumers and B2B sectors including technology, gaming and entertainment, music, creative and photography, home interest, education and television, acquired TI Media for £140 million in cash.This deal would introduce Future Plc to three new verticals of portfolio like Lifestyle, Women’s Interest and Sport expand the portfolio of Future Plc to more than 220 global brands which includes brands like Decanter, Wallpaper*, Country Life and Marie Claire UK.

TI Media is a UK-based digital publisher and magazine company with a diverse portfolio which serves new verticals like Golf, Gardening, Home, Cycling, Country living and Wine.

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