The global digital publishing market is expected to grow from $44.8 billion in 2019 to about $66.7 billion in 2020 due to an increase in demand for digital publishing as more number of people are staying at home for self-quarantine/lockdown, reports Research and Markets.
An increasing amount of digital services are being consumed for entertainment as well as knowledge gaining with the help of digital publishing content such as news, articles, journals and others. The market is expected to stabilize and reach $59.9 billion at a compound annual growth rate of 7.5% through 2023, according to Research and Markets.
Consumers are increasingly using Internet-based set-top boxes for high quality video-content and audio-content. The global android set-top boxes market size is expected to reach $695.9 million by 2025 from $172.5 million in 2018 according to Research and Markets The Telecom Regulatory Authority of India (TRAI) has decided to completely shut down analog TV transmission by 2023 and recommended introduction of digital broadcast transmission. The rising adoption of Android STBs with integration of OTT apps in place of analog TVs is further expected to drive the digital publishing market, says Research and Markets
Increasing digitization of books and educational information is contributing to the growth of digital publishing market, adds the research group. The threat from open educational resources and alternative textbook sources is one of the biggest challenges faced by digital publishing market.