Technavio has been monitoring the digital education content market and says it’s poised to grow by US$23 billion during 2019-2023, progressing at a compound annual growth rate [CAGR] of over 8% during the forecast period.
The research group suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. The market is fragmented, and the degree of fragmentation will accelerate during the forecast period.
Technavio says Adobe Systems, Cengage Learning Holdings, McGraw-Hill Education, MPS, and Pearson are some of the major market participants. The emphasis on personalized content will offer immense growth opportunities.
Technavio says that too make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.