Publishing Market to grow by USD 19.37 Billion (2024-2028), driven by rising demand for diverse content, Report on AI's impact on market trends - Technavio
PR Newswire
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NEW YORK, Dec. 15, 2024 /PRNewswire/ -- Report on how AI is redefining market landscape - The global publishing market size is estimated to grow by USD 19.37 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 1.2% during the forecast period. Increase in demand for diversity in content is driving market growth, with a trend towards rise in number of self-published authors. However, decreasing market share of traditional publishing poses a challenge. Key market players include Adobe Inc., Amazon.com Inc., Bertelsmann SE and Co. KGaA, Bloomsbury Publishing Plc, Cambridge University Press, Georg von Holtzbrinck GmbH and Co. KG, Haufe Lexware GmbH and Co. KG, John Wiley and Sons Inc., McGraw Hill LLC, MPS Ltd., News Corp., Oxford University Press, Pearson Plc, PLANETA CORPORACION Srl, Scholastic Corp., Thomson Reuters Corp., Vivendi SE, White Falcon Publishing Solutions LLP, Wolters Kluwer NV, YUDU Ltd., Lerner Publishing Group, and Blue Heron Book Works.
Technavio has announced its latest market research report titled Global Publishing Market 2024-2028
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Publishing Market Scope
Report Coverage
Details
Base year
2023
Historic period
2018 - 2022
Forecast period
2024-2028
Growth momentum & CAGR
Accelerate at a CAGR of 1.2%
Market growth 2024-2028
USD 19.37 billion
Market structure
Fragmented
YoY growth 2022-2023 (%)
1.31
Regional analysis
North America, Europe, APAC, Middle East and Africa, and South America
Performing market contribution
APAC at 50%
Key countries
US, China, Japan, Germany, and UK
Key companies profiled
Adobe Inc., Amazon.com Inc., Bertelsmann SE and Co. KGaA, Bloomsbury Publishing Plc, Cambridge University Press, Georg von Holtzbrinck GmbH and Co. KG, Haufe Lexware GmbH and Co. KG, John Wiley and Sons Inc., McGraw Hill LLC, MPS Ltd., News Corp., Oxford University Press, Pearson Plc, PLANETA CORPORACION Srl, Scholastic Corp., Thomson Reuters Corp., Vivendi SE, White Falcon Publishing Solutions LLP, Wolters Kluwer NV, YUDU Ltd., Lerner Publishing Group, and Blue Heron Book Works
Market Driver
The self-publishing trend has significantly increased the number of books in the global publishing market. Aspiring authors now have the opportunity to publish their work independently, retaining full control and earning higher royalties, typically around 60%-80% of the book's listed price. Self-publishing saves time, cost, and eliminates the risk of losing rights to traditional publishers. Digital platforms like Amazon KDP and Smashwords expand reach with minimal upfront costs, leading to an increase in indie and self-published authors and titles, fueling market growth.
The publishing market is currently experiencing significant growth in various areas. One trending sector is eBooks, which have become increasingly popular due to their convenience and accessibility. Another trend is the use of chatbots for marketing and customer service in the publishing industry. Additionally, social media is playing a major role in promoting books and reaching new audiences. The use of analytics and data-driven insights is also becoming essential for publishers to make informed decisions. Furthermore, the rise of self-publishing and print-on-demand technology is giving authors more control over their work and reducing inventory costs. Overall, the publishing industry is adapting to new technologies and consumer preferences to stay competitive.
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Market Challenges
The publishing market faces challenges from shifting consumer preferences towards digital formats. Declining demand for traditional print publications, due to convenience and environmental concerns, puts pressure on profit margins with significant production and distribution costs. Major US newspapers, like The New York Times and The Wall Street Journal, have seen growth in digital subscriptions, but overall print demand continues to decline. Self-publishing platforms add competition, impacting market share and revenue for traditional publishers in both newspaper and book sectors.
In the publishing market, challenges abound for both traditional and digital players. Classics and new releases, sales and marketing, distribution and logistics, and digital transformation are key areas of concern. Diversifying revenue streams through subscriptions, e-books, and audiobooks is essential for staying competitive. The digital shift requires rich content, user-friendly platforms, and security. Localization and globalization add complexity, while regulatory compliance and data privacy are critical concerns. Collaboration and partnerships are vital for success in this dynamic industry.
This publishing market report extensively covers market segmentation by
Type
1.1 Book publishing
1.2 Magazine publishing
1.3 Newspaper publishing
Platform
2.1 Traditional
2.2 Digital
Geography
3.1 North America
3.2 Europe
3.3 APAC
3.4 Middle East and Africa
3.5 South America
1.1 Book publishing- The educational sector's demand for books continues to grow, driven by increasing student populations and expanding access to education. Publishers respond with digital solutions and diverse content. Governments in developing countries, such as India under Sarva Shiksha Abhiyan, prioritize free education. The rise of eBooks and audiobooks broadens the market, enabling instant access and increased consumption. Independent publishing adds unique voices and niche topics, fueling market growth. Education expansion remains a key driver for the book publishing segment.
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Research Analysis
The publishing market encompasses a vast array of genres and formats, catering to the diverse reading preferences of individuals. Notable categories include Mystery, with its intriguing plots and puzzles reminiscent of jigsaws and Rubik's cubes; Educational books, which delve into the realms of Science, as explored by luminaries like Charles Darwin, Albert Einstein, Carl Sagan, and Richard Dawkins; and Fiction, with its captivating narratives in Romance, Women's Fiction, Young Adult, and Classics. The marketplace is populated by local bookshops, such as Kitabay, and online portals, providing access to a multitude of prospects for both physical stores and online businesses. Stock market and housing market books offer insights into potential buyers' interests, while costs vary between formats and genres. Reading enthusiasts seek out these resources, expanding their knowledge and imagination.
Market Research Overview
The Publishing Market encompasses a wide range of industries and sectors, including print and digital media, educational publishing, scientific, technical and medical (STM) publishing, and academic publishing. This market is driven by various factors such as increasing literacy rates, growing demand for knowledge and information, and the shift towards digital content. The market is also influenced by trends like self-publishing, open access publishing, and subscription models. Publishers are leveraging technologies like artificial intelligence and machine learning to enhance content discovery and personalization. The market is expected to grow significantly in the coming years due to these factors and the increasing adoption of digital content.
7 Customer Landscape 8 Geographic Landscape 9 Drivers, Challenges, and Trends 10 Company Landscape 11 Company Analysis 12 Appendix
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.
With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
