The report forecasts the global digital educational publishing market to grow at a CAGR of 12.12% during the period 2016-2020.
The report has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
A trend which is influencing and boosting growth is the establishment of multiple publishing formats. Major formats, such as EPUB, Mobi and KF8 from Amazon, and PDF are widely used as they are reasonably accessible and flexible. However, digital educational publishers have switched to the latest formats like EPUB2 and EPUB3 over the years. Institutions like Association of American Publishers, European Publishers' organization, and EDItEUR have also proposed the adoption of EPUB 3 as a key format.
According to the report, a key growth driver for the digital educational publishing market is the rising retail prices of printed books. Earlier, print textbooks were solely used in educational institutes. However, the burgeoning retail prices of textbooks, especially for higher education students, have caused learners to switch to e-books and digital material as alternatives. In the US, the price of new printed textbooks had inflated at an average rate of 6% between 2004 and 2014.
Further, the report states that one challenge that could restrict market growth is the threat from open educational resources and alternate sources for textbooks.