NEW YORK, May 27, 2021 /PRNewswire/ -- The global publishing market by platform (traditional and digital) and geography (APAC, Europe, MEA, North America, and South America) has been added to Technavio's offering. The global publishing market is expected to grow by USD 18.69 billion, at a CAGR of over 1% during 2021-2025.
The imposition of lockdowns and other restrictions due to the spread of COVID-19 led to the closure of books shops for several weeks or months in 2020. This negatively impacted the revenue of traditional publishers. However, the increased sales of books through online channels helped publishers drive sales during the pandemic. Besides, the market witnessed an increase in the preference for eBooks and digital content as many people avoided physical books to avoid catching viral infections. All these factors are expected to have a positive impact on the publishing market during the forecast period.
The market is expected to be driven by factors such as the growing impact of e-books, increase in Internet penetration and speed, and changing business dynamics of the publishing industry.
The report also offers information on the upcoming trends and challenges that will influence market growth.
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Publishing Market: Opportunities
The penetration of tablets and e-reading devices is significantly increasing in both developed and developing countries. This is subsequently increasing the demand for digital content. The market is also observing a high growth in the number of independent publishers that create live content and news feed at nominal subscription prices. Moreover, factors such as the emergence of digital magazines, the rising number of online subscribers, and the increasing emphasis on digital education will provide significant growth opportunities for market vendors during the forecast period.
Publishing Market: Segmentation by Platform
Based on the segmentation by platform, the market generated maximum revenue in the traditional publishing segment in 2020. However, the market is expected to witness faster growth in the digital publishing segment during the forecast period owing to the increasing acceptance of e-books, digital newspapers, and print magazines. Also, the rising penetration of portable devices and the availability of high-speed internet will fuel the growth of the digital publishing segment.
Publishing Market: Segmentation by Geography
APAC held the largest market share in 2020 and the market growth in the region is expected to be faster compared to the growth of the market in other regions. The growth of the market in APAC can be attributed to the increasing adoption of technology in the education sector in countries such as China and India. Also, the increasing demand for digital magazines will contribute to the growth of the publishing market in APAC during the forecast period.
One of the fortune 500 companies had used the detailed research report on the publishing market and had decided to increase their market share in the APAC region which offers the highest market opportunities during the forecast period.
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Publishing Market: Major Vendors
Amazon.com Inc.
The company offers Kindle direct publishing. It enables authors and publishers to self-publish eBooks and paperbacks.
Hachette Book Group Inc.
The company is one of the leading trade and book publishers in the US. The company offers books for adults and kids. It offers audiobooks.
Houghton Mifflin Harcourt Co.
The company offers publishing services for textbooks, instructional technology materials, assessments, reference works, and fiction and non-fiction for both young readers and adults.
McGraw-Hill Education Inc.
The company offers Custom publishing services that comprise digital text, digital solutions, prints, videos, charts, and others.
Pearson Plc
The company offers higher education books and custom content for students. It also provides digital learning solutions for higher education.
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Related Reports on Publishing Market:
Global Digital Educational Publishing Market – Global digital education publishing market is segmented by end-user (K-12, higher education, and corporate and skill-based) and geography (North America, Europe, APAC, South America, and MEA).
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Global Digital Publishing Market – Global digital publishing market is segmented by type (text content, video content, and audio content) and geography (APAC, North America, Europe, MEA, and South America).
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Global Digital Education Content Market – Global digital education content market is segmented by end-user (K-12 and higher education) and geography (North America, APAC, Europe, South America, and MEA).
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Global Digital Content Market – Global digital content market is segmented by device (mobile and non-mobile), type (digital video content, digital game content, digital text content, and digital audio content), and geography (APAC, North America, Europe, South America, and MEA).
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