LONDON--(BUSINESS WIRE)--The digital educational publishing market is expected to grow by USD 6.96 billion during 2020-2024. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. We expect the impact to be significant in the first quarter but gradually lessen in subsequent quarters – with a limited impact on the full-year economic growth.
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Major digital education content publishers in the market are adopting innovative strategies to promote their products and services among students and faculties. For instance, in August 2018, Cengage Learning Holdings II Inc. launched a new subscription model called Cengage Unlimited. It offered full access to more than 675 courses and 20,000 digital titles in 70 disciplines at the cost of USD 119.99 per semester. The Cengage Unlimited subscription model attracted many educational institutions such as the University of Missouri, Liberty University, and Ultimate Medical Academy during August-November 2018. Similarly, in August 2018, VitalSource Technologies LLC announced its plans to simplify its courseware integrations by eliminating access barriers for users and streamline the administrative setup for institutions. Such innovative strategies are helping vendors to expand their customer base, thereby fueling the growth of the global digital educational publishing market.
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As per Technavio, the growing support for digital education through government initiatives 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 2020-2024.
Digital Educational Publishing Market: Growing Support for Digital Education Through Government Initiatives
Governments across the world are taking various initiatives to boost the penetration of digital technologies in the education sector. For instance, in 2018, the EC announced the Digital Education Action Plan for the development of digital competence in the education sector in the EU member countries. The plan primarily focuses on the adoption of digital technology devices in educational institutions and the development of digital literacy and skills in students. Similarly, developing countries such as China and India are promoting the use of technology-enabled education through various programs. Many such government support initiatives are boosting the growth of the global digital educational publishing market.
“Competitive pricing of online content and the increasing acceptance of online degrees will further boost market growth during the forecast period”, says a senior analyst at Technavio.
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Digital Educational Publishing Market: Segmentation Analysis
This market research report segments the digital educational publishing market by End-user (K-12, Higher education, and Corporate and skill-based) and Geography (North America, Europe, APAC, South America, and MEA).
The North American region led the digital educational publishing market in 2019, followed by Europe, APAC, South America, and MEA respectively. During the forecast period, North America is expected to register the highest incremental growth due to the high demand for interactive educational content in the region.
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Some of the key topics covered in the report include:
Market Drivers
Market Challenges
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.
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