LONDON--(BUSINESS WIRE)--Technavio projects the global publishing market to exceed a revenue of USD 356 billion by 2022. The growing impact of e-books is a key driver, which is expected to positively impact market growth during the period 2018-2022.
The use of advanced technologies is restructuring the publishing landscape and reading behavior of readers. The restructuring is providing the publishers the flexibility to publish content at the earliest in lesser turn-around time, thereby helping them save a lot of time and money. The emergence of e-books and the online subscription business model has transformed the approach toward content among publishers. It has also become convenient for readers to access multiple books at a time, for instance, through subscriptions. With the launch of smart devices, content can be easily accessed over the digital platform in the form of e-books. Another factor that contributes to the increasing adoption of e-books is the availability of these products on e-commerce sites.
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In this report, Technavio highlights the rise in number of indie and self-published authors as one of the key emerging trends in drive the global publishing market:
Rise in number of indie and self-published authors
Earlier, authors were dependent on publishers for publishing their content, because only they had the knowledge of professional publishing, and had control over printing and retail distribution. Indie authors refer to writers who have complete control over content and its publishing. Compared with traditional publishing, self-publishing saves time and cost for the author and is also more profitable. In addition, by self-publishing, indie authors eliminate the risk of losing their rights and control of their books to traditional publishers. In the traditional book publishing market, authors earned only 15%-20% of their book's cost. However, in self-publishing, the role of the publishing house is completely overruled. The authors earn nearly 60%-80% of their book's listed price as their royalty.
According to a senior analyst at Technavio for publishing and advertising research, “The number of indie and self-published authors is on the rise, which will increase the number of self-published titles, thereby driving the market during the forecast period.”
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Market segmentation and analysis through 2022
This market research report segments the global publishing market based on end-user (commercial and industrial, and consumer), by technology (thermal inkjet heads and piezo inkjet heads) and key regions (the Americas, APAC, and EMEA).
The commercial and industrial end-user sector held close to 67% share of the market in 2017. With 3D printing technology gaining traction in the manufacturing industry, the demand for printers will be high from this sector.
In 2017, the global publishing market was led by the Americas which accounted for more than 40% share of the market. The region's dominance is attributed to the presence of several vendors, which have primary business operations in North America. Also, a strong broadband infrastructure and an increasing population of readers are major factors influencing the revenue growth in the region. Although APAC held the smallest share of the market in 2017, it is expected to witness the maximum growth over the forecast period.
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