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Digital Publishing has witnessed an exponential growth over the last decade mainly due to the merger of the following which have paved a way to further open up enticing and exciting new opportunities not only to acquire/access new knowledge but also gain new skills:
- Internet and
With the emerging markets still embracing digital publishing, driven by both the academic and corporate sectors, it would be interesting to understand what the future holds for this sector, in a progressive manner.
Let’s now look at the crucial factors that drive revenue for digital publishers and hence growth in digital publishing:
A) Increasing Demand for Rich Digital Content:
There is an increased demand for digital content (rich) in multiple available formats for learning and development activities in the corporate sector.
With large organisations having a widely diverse workforce, online training is an ideal means to ensure that the employees remain updated to the evolving technology and hence abreast with the new knowledge and skills at all times.
Further, with more and more companies adopting to work-from-home, a change in work culture and hence hybrid approach, is being witnessed and adopted. Thus, virtual training has been greatly contributing to the growth of digital publishing.
B) COVID-19 Pandemic:
The COVID 19 pandemic has further accelerated the trend towards digital publishing as governments worldwide went into unprecedented and prolonged lockdowns with several restrictive measures, such as the closure of schools, colleges and other educational institutions to minimise and contain the spread of the virus. This has also led to an increased demand for online learning and teaching materials such as eBooks, eText, and other digitally printed documents across schools and colleges, and other learning formats with the rest of the educational institutions.
Further, the digital publishing sector is also impacted to embrace digital transformation and to gain more traction and visibility Publishers are being enforced to include novel marketing initiatives, with mergers and acquisitions, and new product development happening to adapt digital initiatives.
C) Democratisation of Education:
Embracing Digital for Publishers in a way, is leading to the democratising of education, with several educational institutions worldwide offering online courses in subjects such as computer science, mathematics, engineering, art, business, and personal development, where students across the globe can gain access to the digital versions of the course content, textbooks, and course content which they can use to prepare for online tests, assessments and course certifications.
There is also a rise in online learning systems by private players that have made education accessible to students in remote or distant locations, anytime anywhere. This abrupt rising adoption to online learning is fuelling the market for digital publishing.
D) Market Initiative:
More and more enterprises are adopting to extend their presence beyond their borders.
With respect to digital publishers, the major players are focussing more on developing advanced and efficient products through partnerships, contracts, joint ventures, funding, and opening new office locations worldwide, across the globe. Such moves help them to expand their footprints and build a global brand via building platforms to enrich the content with multimedia elements, adding to the interactivity factor and making the learning experience rich and engaging.
E) Merger and Acquisition:
Digital publishing companies are increasingly taking the merger and acquisition route to collaborate with various companies to benefit from new business and innovative opportunities, on par with the advances with the evolving technologies. This strategy helps them to strengthen footprints in existing markets and at the same time, maintain their brand image for driving growth and hence increased revenues.
F) Upcoming Developments:
Digital Publishing companies are further focusing on product innovations by integrating advanced technologies and features into their products to retain a competitive edge in the market via adapting quickly to develop & deliver mobile-first interactive content.
Digital publishing has gained more traction and visibility over the last decade, driven by several factors, most notably, the merger of the Internet and education which not only has impacted and revolutionised both the teaching and learning landscape, but also paved a way which benefits from the synergies of both, in the form of increased revenues and effective ROI.
For the Education Sector:
- the educators benefit from a abundance wealth of online resources to supplement their teaching
- the students, on the other hand, can personalise their learning, using these resources to build on their knowledge and skills
For the Corporate Sector:
With the workforce becoming increasingly diverse, embracing digital has emerged as the platform of choice to deliver continuity in learning, allowing employees to undertake the training anytime anywhere at their own pace (which also holds good for the academic community).
COVID 19 Pandemic forced both the education and the corporate sectors to adopt online learning and teaching/training, in face of the restrictions which gave a major thrust to digital publishing. The future of digital publishing is bright and ripe for quick adoption, exploitation.
mPowerO provides continuous support and is an end-to-end offering to Online Learning Platforms/Solutions and Digital Publishing Solutions.
Talk to our expert team members for a deeper understanding and more related information.
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