Digital Education Publishing Market in the US 2019-2023 | 12% CAGR Projection Over the Next Five Years | Technavio
LONDON--(BUSINESS WIRE)--Apr 12, 2019--The digital education publishing market in the US is expected to post a CAGR of nearly 12% during the forecast period 2019-2023, according to the latest market research report by Technavio.
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Technavio has published a new research report on the digital education publishing market in the US from 2019-2023. (Graphic: Business Wire)
Leading digital education content publishers in the US are implementing innovative marketing strategies to promote digital study materials among students. Such promotions are eliminating the need to purchase textbooks. For instance, Cengage Learning recently announced its plans for a new subscription model, Cengage Unlimited. The subscription allows full access to most of the courses and digital titles in 70 disciplines at a reasonable price. After the announcement, many US universities such as the University of Missouri, Liberty University, and Ultimate Medical Academy subscribed to Cengage Unlimited. Such innovative marketing strategies in terms of product offerings by digital education content publishers will drive the market’s growth during the forecast period.
This market research report on the digital education publishing market in the US 2019-2023 also provides an analysis of the most important trends expected to impact the market outlook during the forecast period.
In this report, Technavio highlights the growing shift toward content customization as one of the key emerging trends in the digital education publishing market in the US.
Digital education publishing market in the US: Growing shift toward content customization
The education system in the US is gradually shifting toward a more practical and example-oriented approach. Many vendors in the country’s digital publishing market are providing customized digital content to schools and other institutions. This enables educational institutions in developing content to optimize their student’s learning. Furthermore, many institutions are encouraging students to use their own devices to access services. Vendors are continuously improving their content delivery methods and are offering customizations to gain a competitive edge.
“ Major vendors such as McGraw-Hill Education and Pearson provide online course materials with digital libraries and publish a range of relevant educational content. Several universities such as the Maryville University in the country partnered with Pearson to expand its online degree offerings. The University also announced its plans to start new online undergraduate degrees by expanding its existing online catalog of undergraduate degrees, master’s, and doctoral degrees. Many such collaborations of vendors and educational institutions will further drive the growth of the digital education publishing market in the US,” says an analyst at Technavio.
Digital education publishing market in the US: Segmentation analysis
This market report segments the digital education publishing market in the US by end-users (K-12, higher education, and corporate/skill based) and product (digital textbooks, digital assessment books, and others).
Digital textbooks segment led the market in 2018 with a market share of over 61%, followed by digital assessment books, and others. The demand for digital textbooks is increasing at a rapid rate in the US because of their low cost compared to printed textbooks. The increasing prices of raw materials and the growing environmental concerns associated with the paper that is used to manufacture printed textbooks further boost the demand for digital textbooks in the US.
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Five Forces Analysis
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CONTACT: Technavio Research
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
KEYWORD: UNITED STATES NORTH AMERICA
INDUSTRY KEYWORD: EDUCATION UNIVERSITY TECHNOLOGY SOFTWARE
SOURCE: Technavio Research
Copyright Business Wire 2019.
PUB: 04/12/2019 10:05 AM/DISC: 04/12/2019 10:05 AM