Global publishing market to grow by $18.4 billion between 2022-2027, report
The publishing market size is expected to grow by $18.35 billion between 2022 and 2027 according to a report by Technavio.
However, the growth momentum of the market will progress at a CAGR of 1.14% during the forecast period. The market is segmented by Platform (Traditional and Digital), Type (Book publishing, Magazine publishing, and Newspaper publishing), and Geography (North America, Europe, APAC, Middle East and Africa, and South America).
Changing business dynamics of the publishing industry drives the publishing market. As a result of the advent of e-readers such as the Kindle, increased use of iPads, tablets, and smartphones, and deep discounts on e-books, major publishers focus on strengthening their presence in the e-book market.
Most publications make the leap to digital platforms by launching websites and other online services such as email newsletters, RSS (Rich Site Summary) feeds, and news apps.
They experiment with content, such as distributing various supplements to this paper, and thus, along with changing consumer needs, trends in the newspaper industry are also changing. Hence, such factors drive the growth of the publishing market during the forecast period.
