Digital Publishing Market is expected to reach US$ 37,940.7 Million by 2028

Substantial Growth of Edtech Companies in APAC to Provide Growth Opportunities for digital publishing Market during 2021–2028

According to our latest market study on “Digital Publishing Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Content Type and End User,” the Market is expected to grow from US$ 24,606.5 million in 2021 to US$ 37,940.7 million by 2028; and is estimated to grow at a CAGR of 6.4% from 2021 to 2028.

The surging focus on education in APAC countries, rising young population, increasing demand for smart and connected devices among students, and growing number of Edtech startups are a few factors that are driving the demand for education technology solutions in APAC. In education sector, virtual study material, online class, and self-paced learning are among the major technology solutions. China and India are two of the leading countries witnessing growing number of Edtech startups and rising investments in Edtech in past 3 to 4 years. China led the Edtech market in terms of Edtech investments (~55% share) globally. In India, BYJU’s raised historical investment of US$ 540 million in 2018. A few of the key Edtech companies valued at ~US$ 1 billion in China and India include VIPKid with US$ 4.5 billion valuation, Yuanfudao (US$ 7.8 billion), Zuoyebang (US$ 6.5 billion), Knowbox (US$ 1 billion), iTutorGroup (US$ 1 billion), 17zuoye (US$ 1 billion), HuJiang (US$ 1 billion), BYJU’s (US$ 10 billion), and Unacademy (US$ 1.4 billion). In addition, K-12, higher education, lifelong learning, corporate learning, and early childhood education are among key Edtech sectors receiving impressive investments. Along with the courses offered to the students, the Edtech companies provide complete digital study materials such as eBooks, chapter notes, and references for better understanding, The rise of ed-tech companies in APAC is expected to increase the demand for web text publishing, which would create lucrative opportunities for the digital publishing market in future.

Based on Content Type, the digital publishing market is characterized into and Text, Video, and Audio. The text segment was valued at US$ 14,959.8 million in 2020. Similarly, based on end-user, the digital publishing market is segmented into Individual, and Enterprises.

Impact of COVID-19 Pandemic on Digital Publishing Market

According to the latest situation report from the World Health Organization (WHO), the US, Spain, Italy, France, Germany, the UK, Russia, Turkey, Brazil, Iran, and China are among worst-affected countries due to the COVID-19 pandemic. In 2020, the world economy suffered significant consequences, and the effects are expected to endure to some extent. Factory shutdowns, travel and trade bans, and border lockdowns to combat and contain the infection have led to disruptions in primary industries. Due to the COVID-19 outbreak, a sharp decline in the growth of these industries restrains the growth of digital publishing market to some extent.

HurixDigital; Vijua; VitalSource Technologies; Excelsoft Technologies; Impelsys Inc.; Issuu; Lulu Press, Inc., Kortext; Magic EdTech; and RedShelf are a few major companies operating in the digital publishing market.

Digital Publishing Market — by Geography, 2020 and 2028 (%)

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