New York, March 08, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Digital Publishing Global Market Report 2022" - https://www.reportlinker.com/p06243817/?utm_source=GNW
and Alphabet Inc.
The global digital publishing market is expected to grow from $36.29 billion in 2021 to $41.64 billion in 2022 at a compound annual growth rate (CAGR) of 14.8%. 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 $68.81 billion in 2026 at a CAGR of 13.4%.
The digital publishing market consists of sales of digital content and related services in the media industry.The digital publishing market includes the sales of digital content in the form of text, audio, and video on digital platforms like social media, websites, and search engines.
The digital publishing companies are primarily engaged in the development of a 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.
The main types of digital publishing are text content, video content, and audio content.Video content refers to any content format that includes video.
Common forms of video content are vlogs, animated GIFs, live videos, recorded presentations, and webinars. The different applications include smartphones, laptops, PCs, others and are used by various sectors such as scientific, technical, and medical (STM), legal, and business.
North America was the largest region in the digital publishing market in 2021.Africa is expected to be the fastest growing region in the forecast period.
The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The increasing digitization of books and educational information is contributing to the growth of the 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 houses and bookstores were closed and readers spent most of their time reading e-books.In India, the sale of physical books went down by 80% and sales of e-books had almost doubled during the lockdown.
Earlier pre-COVID 19, e-books or online newspapers 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 the 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 the content available online with limited or no restrictions.For instance, Governor Andrew M.
Cuomo announced $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 cost of the textbook 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 platforms for free. Therefore, such factors are expected to restrain the market growth of digital publishing during the forecast period.
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 according to market analysis. The Telecom Regulatory Authority of India (TRAI) has decided to completely shut down analog TV transmission by 2023 and recommended the introduction of digital broadcast transmission. The rising adoption of Android STBs with the 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 expands the portfolio of Future Plc to more than 220 global brands which include 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 that serves new verticals like Golf, Gardening, Home, Cycling, Country living, and Wine.
The countries covered in the digital publishing market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA.
Read the full report: https://www.reportlinker.com/p06243817/?utm_source=GNW
About Reportlinker
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.
__________________________
