Digital Publishing Market to Grow by USD 65.31 billion|9.75% Year-Over-Year Growth in 2021|Technavio
Tuesday, April 13, 2021
NEW YORK, April 5, 2021 /PRNewswire/ --
The digital publishing market is expected to grow by USD 65.31 billion during 2021-2025, expanding at a CAGR of almost 13%. The report also throws light on the impact of the COVID-19 pandemic on the market and the new opportunities and challenges market players can expect. The impact can be expected to be significant in the first quarter but gradually lessen in subsequent quarters - with a limited impact on the full-year economic growth.
The report offers a detailed analysis of the impact of the COVID-19 pandemic on the market in optimistic, probable, and pessimistic forecast scenarios.
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Digital Publishing Market: Increase in internet penetration and speed to drive growth.
Internet penetration has increased globally at a rapid rate. Developing countries witnessed a drastic increase compared with developed countries. With the surge in Internet penetration and speed, the need for digital content is also increasing. Earlier, consumers had to spend a significant amount to get an Internet connection at home. However, network providers worldwide are providing low-priced, monthly, or weekly Internet packages. These schemes benefit consumers and allow them to connect to the Internet at an affordable cost. The low-cost or economic data plans offered by network providers have boosted the number of Internet users. This has had a positive impact on the growth of the global digital publishing market, as consumers can easily access the Internet across mediums.
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As per Technavio, the digitization of paperback books will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth over 2021-2025.
Digital Publishing Market: Digitization of paperback books
Commercial printers have faced several challenges over the last few years due to the wide-scale adoption of digital technology. With the launch of smart electronics, the content and media are delivered over the digital platform rather than on paper. E-books have gained popularity over the last few years, which has led to the increased adoption of specialized e-reading devices. Though the digitized form of books would continue to remain an important part of the industry, paperback books have been witnessing a steady increase since 2017. Owing to the trend of publishing books online, rather than printing and publishing the same, there will be an increase in the demand for e-books during the forecast period.
"The growing digital text market and the fierce competition among the vendors will further boost market growth during the forecast period", says a senior analyst at Technavio.
Digital Publishing Market: Major Vendors
-- Adobe Inc.
-- Alphabet Inc.
-- Amazon.com Inc.
-- Apple Inc.
-- Comcast Corp.
Digital Publishing Market: Segmentation Analysis
This market research report segments the digital publishing market by type (Text content, Video content, and Audio content) and geography (APAC, North America, Europe, MEA, and South America).
The APAC region led the digital publishing market in 2021, followed by North America, Europe, MEA, and South America respectively. During the forecast period, the APAC region is expected to register the highest incremental growth due to factors such as the digitization of paperback books.
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Related Reports on Communication Services Include:
Global Magazine Publishing Market- The magazine publishing market is segmented by type (print and digital) and geography (Europe, APAC, North America, MEA, and South America). Download FREE Sample Report
Global Stock Images Market- The stock images market is segmented by image source (macro-stock and micro-stock), license model (RM and RF), application (editorial and commercial), and geography (APAC, Europe, MEA, North America, and South America). Download FREE Sample Report
Some of the key topics covered in the report include:
Market Challenges
Market Drivers
Market Trends
Vendor Landscape
-- Vendors covered
-- Vendor classification
-- Market positioning of vendors
-- Competitive scenario
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
Report Page: https://www.technavio.com/report/digital-publishing-market-industry-analysis
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SOURCE Technavio
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