Educational and professional books are the fastest growing segment in the global book printing market
Arizton’s recent market research report on the book printing market identifies RR Donnelley & Sons, Quad Graphics, LSC Communications, and CPI Corporateas the leading vendors that are likely to dominate the market during the forecast period. This research report provides a detailed analysis of market segmentation bytype (children’s books, educational and professional books, leisure and lifestyle books, and other books), by revenues channel (publishers and self-publishing), and by geography (APAC, Europe, North America, and ROW).
The book printing market is projected to reach values of approximately $49 billion by 2024, growing at a CAGR of more than 1% during 2018-2024.
The book printing market is divided into three major segments that includetype, revenue channels, and geography.
Education and professional books segment to grow at the fastest CAGR in the book printing market during the forecast period
The book printing market by product type is classified into children’s books, educational and professional books, leisure and lifestyle books, and other books. Educational and professional books are the fastest growing segment in the global market, at a CAGR of approximately 2% during the forecast period. The rising focus on education in emerging countries is one of the primary factors attributing to the growth of the education and professional books segment in the global market. Reference materials, journals, and white papers are some of the most demand materials in the market. The growing importance of elementary and secondary grades education in emerging countries will boost sales in the book printing market. India and other South Asian countries are witnessing the highest demand in the global market. The increasing number of government and regulatory bodies pushing for mandatory primary education across various countries will boost student participation and drive the growth of the market. China, India, and other south Asian countries are driving the need for printed textbooks and study materialsin the book printing market.
Self-publishing segment to grow at an impressive CAGR in the book printing market during the forecast period
The revenue channel segment in the book printing market is divided into publishers and self-publishing. Self-publishing is the fastest growing segment in the global market, at a CAGR of around 17% during the forecast period. The increasing number of online direct-to-consumer publishing and distribution channels such as Amazon KDP, Draft2Digital, Barnes & Noble, and Pronoun is driving the growth of this segment in the global market. Self-publishing platforms are designed to promote independent authors and new writers, thereby propelling the growth of the book printing market over the next few years. Self-publishing is the upcoming trend gaining high traction among independent authors. This trend is witnessing rising adoption by virtue of being cost-effective as they subtract the publishers and book agents. This channel helps minimize the initial cost which has to be put up by the smaller authors. The independent authors take up the designing, drafting, and produce smaller batches of books through this channel in the global market. The emergence of print-on-demand services will help reduce the cost of operations and boost revenues in the book printing market during the forecast period.
North America to grow at a considerable CAGR in the book printing market during the forecast period
The book printing market by geography is segmented into APAC, Europe, North America, and ROW. North America occupied the second largest market share in 2018, growing at a CAGR of more than 1% during the forecast period. The improving end-users’ spending sentiments and purchasing power are the main factors attributing to the growth of the North American region in the market. The publisher revenues in the US are observing strong growth in leisure and lifestyle books,and it can be attributed to the rising investment and focus of marketers in travel retail and advertising. The advent of online channels of revenues will contribute to the growing revenues in the book printing market across North America. The leading vendors are expected to establish research and technology facilities in this region and maintain offshore manufacturing facilities for production in the North America market. The rising televangelism and need of new generation to confirm their beliefs by reading written literature across North America will positively impact the development of the book printing market.
The other prominent players operating in the book printing market are Command Companies, Walsworth, Transcontinental Inc, Bonacia, Inky Little Fingers, Marquis, China South Publishing & Media Group Co Ltd, Asia Korea Printing Inc, Lion Rock Group, and CTPS.
The complete overview of the latest market research report on the book printing market by Arizton is now available.
The report also offers a detailed study of major trends, drivers, challenges, and also provides the market size and forecast for major geographical regions and key countries.
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