LONDON--(BUSINESS WIRE)--Technavio market research analysts forecast the digital education publishing market in the US to grow at a CAGR of close to 11% during the forecast period, according to their latest report.
The market study covers the present scenario and growth prospects of the digital education publishing market in the US for 2017-2021. The report also lists K-12, higher education, and corporate/skill-based learning as the three major end-user segments, of which the K-12 segment, with a market share of more than 48% emerged as the largest contributor to the digital education publishing market in the US, in 2016.
According to Jhansi Mary, a lead analyst at Technavio for education technology research, “The US was an early adopter of digitization and the market for digital education products such as e-books, e-textbooks, e-journals, and e-magazines had seen significant growth over the years and is expected to increase further due to various factors such as proliferation of mobile devices, changes in teaching pedagogy and increasing investments in ICT.”
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Technavio education sector analysts highlight the following three market drivers that are contributing to the growth of the digital education publishing market in the US:
- Opportunity to capitalize on growing market for mobile devices
- Growth of for-profit and online learning institutions in the US
- Investment in ICT in education sector
Opportunity to capitalize on growing market for mobile devices
In the US, the leading country in the global digital education publishing market, the proliferation of e-readers and tablets is expected to have a significant impact on market growth. Publishers are optimizing their content for each device and are mastering new skills and capabilities like digital marketing to capitalize on the growing base of mobile device users. By the end of the forecast period, nearly 100% of the US population over than age of 13 will own a smartphone. In step with the proliferation of new file formats and reading devices, vendors are developing infrastructure and capacity to digitize their publishing business at a swift pace.
“Vendors in the market are focusing on optimizing content for smaller mobile devices. There is also a focus on interacting with students through Facebook, Twitter, and YouTube,” says Jhansi.
Growth of for-profit and online learning institutions in the US
Advances in mobile technologies have created a shift from the traditional models of classroom settings. The older and rigid models of one-to-many classrooms have given flexible and personalized models of learning. Modern technology-based education caters to a diverse learner-base with varying skillsets.
Digital education publishers adjust their content and services to suit the needs of their educational target segment, which acts as a profitable differentiating factor against competitors. Publishers also include material to cater to regional consumers. Incorporation of niche subjects, superior customer service, and regional website language are other differentiating factors.
Investment in ICT in education sector
Advances in technology and increased broadband network along with schemes like BYOD have brought about a change in the education paradigm with the implementation of innovative learning methods such as flipped classrooms, blended learning, simulations, experiential, and inquiry-based learning. Educational institutions are also increasingly incorporating hardware like interactive whiteboards and interactive tables along with software for assessment, content creation, learning management, and student information systems.
More innovative pedagogical learning methods, comprising active learning strategies and competency-based education models, are implemented in the education sector in the US. Thus, the demand for digital education content in the form of e-books and e-textbooks will gain traction. This will gain further momentum with an increase in investment on ICT hardware and software solutions.
Browse Related Reports:
- Global Content Publishing Market 2017-2021
- Global Digital Educational Publishing Market 2016-2020
- Global Consumer Book Publishing Market 2016-2020
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