Enterprise Text Publishing Market Forecast to 2028 - COVID-19 Impact and Global Analysis

According to the latest research report titled “Enterprise Text Publishing Market Forecast to 2028 - COVID-19 Impact and Global Analysis,” the market is expected to grow from US$ 15,483.1 million in 2021 and is projected to reach US$ 28,065.2 million by 2028; it is expected to grow at a CAGR of 8.9% from 2021 to 2028.

Rise in Adoption of Self-Paced Learning Drives Enterprise Text Publishing Market

In self-paced or on-demand learning, students learn in their own time. They can be from the same class, but they work at their own pace to complete assignments and proceed through the course. The number of educational institutions, which offer online distance learning courses, is increasing due to the rising popularity of online and distance learning. Generally, professionals who want to acquire higher educational degrees but cannot dedicate themselves to a full-time course due to work commitments undertake self-paced courses from institutions for career growth.

For instance, upGrad Education Private Limit offers for working professionals a self-paced Master of Business Administration (MBA) program from the Liverpool Business School across various functional domains. The course provides a complete range of study material in digital format to all its registered students; they can refer to the material and plan study as per their feasibility. Thus, the escalating adoption of self-paced learning across the world is fueling the growth of the enterprise text publishing market.

Education is one of the important sectors wherein digitalization is growing rapidly owing to the growing use of smart devices such as interactive displays, tablets, laptops, and smartphones. Furthermore, the increased adoption of online/e-learning courses, online tests, virtual classrooms, edutainment, and digital textbooks (e-books) boosts the growth of the global enterprise text publishing market.

China, the US, and India are three of the most notable countries with expanding scope for digitalization in the education sector. Growing investments in EdTech businesses that incorporate sophisticated technologies such as augmented reality (AR), virtual reality (VR), and artificial intelligence (AI) into education solutions are accelerating the digitalization of this sector.

Additionally, schools and universities in most of the countries globally are temporarily closed due to the COVID-19 pandemic, which is further boosting the adoption of digital technologies in the education sector. The number of schools, universities, and educational institutes adopting distance learning and virtual classrooms to provide continuous and uninterrupted education is increasing due to social distancing measures imposed by governments.

Key Findings of Study:

The global enterprise text publishing is segmented into five major regions-North America, Europe, Asia Pacific, Middle East and Africa, and South America. North America led the market in 2020, followed by Europe and Asia Pacific. In coming years, the enterprise text publishing market in Asia Pacific would witness massive growth due to the rising focus on education in several countries, increasing millennial population and escalating demand for smart as well as connected devices among students, and growing number of EdTech startups in this region.

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