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PUNE, MAHARASTRA, INDIA, May 5, 2020 /EINPresswire.com/ — Digital Publishing Market:
The global digital publishing market is expected to grow from $44.8 billion in 2019 to about $66.7 billion in 2020 due to an increase in demand for digital publishing as more number of people are staying at home for self-quarantine/lockdown. More amount of digital services are being consumed for entertainment as well as knowledge gaining with the help of digital publishing content such as news, articles, journals and others. The market is expected to stabilize and reach $59.9 billion at a CAGR of 7.5% through 2023.
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.
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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.
The global digital publishing market has been geographically segmented into North America, Western Europe, Asia-Pacific, Eastern Europe, South America and Middle East & Africa. Asia Pacific was the largest region in the digital publishing market in 2019.
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.
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. Fro instance, by 2020, the Indian book market is expected to reach INR 739 Billion from INR 261 Billion in 2015 and more than 70% of the publishers have digitized the content to produce e-books versions for easy access of digital content for smartphones and e-readers. In 2016, respondents to a global survey stated that they frequently use PCs/Laptops (94%), Televisions (93%) and smart phones (87%) for accessing media. As the educational institutions are increasingly focused on Information & Communication Technology there will be a shift in the way to deliver knowledge which is expected to drive the market.
In 2019, Future Plc a UK-based global multi-platform media company expertised in specialist consumers and B2B sectors including technology, gaming & entertainment, music, creative & photography, home interest, education and television proposed acquisition of 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.
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. In 2017, New York state has made a $8 million investment for developing open educational resources with the goal of lowering the education cost in the state. Customers are preferring less use of journals and resources which require subscription since there are a large number of resources available on online platform for free
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.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., Alphabet Inc.
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Source: EIN Presswire