eMagazines Market Demand To Escalate Noticeably With 6.3% CAGR By 2028, Owing To Rising Adoption of Digital Platforms For Publishing And Localization of Content eMagazines | Million Insights
The global eMagazines market size is expected to reach USD 6.27 billion by 2028, according to a new report by Million Insights. Itis expected to expand at a CAGR of 6.3% from 2021 to 2028. The key driving factors such as magazine publishers adopting digital platforms for publishing, localization of content eMagazines, more interactive and attractive eMagazines, availability of high-speed data network, increasing adoption of smartphones with advanced functionalities, and citizens focused on convenience are anticipated to drive the growth. The rising per capita income and increasing purchasing power are further supporting the demand.
The subscription segment is likely to expand at a higher CAGR of 6.8% from 2021 to 2028. A subscription allows readers to pay for a particular digital magazine on a weekly, monthly, quarterly, or yearly basis. Subscribers can able to watch again and again anytime and anywhere. Along with individual readers, educational institutes and businesses are subscriptions to study the latest insights. Thus this segment is contributing to market growth.
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The smartphones segment is estimated to register the fastest CAGR of 7.1% from 2021 to 2028. The convenience of reading a digital copy of eMagazines on smartphones and the increasing adoption of smartphones are the factors projected to drive the growth of the segment. Compared to other devices, smartphones are customer-friendly and easier to carry. Mobile apps offer functionalities such as adjustable font size, easy distribution and purchase, and backup and storage. All these factors are expected to contribute to the segment growth.
North America held the largest revenue share of more than 45% in 2020. The U.S. is positively contributing to the growth. In North America, an eMagazine is the convenient choice compared to printed books for customers with benefits such as speedy access and portability. The presence of well-established vendors is one of the key factors to the market contribution. North America is one of the promising regions to launch new technologies in terms of infrastructure and advanced network technology which helps simpler and faster distribution of eMagazines. Additionally, supportive digital policies by the government are further contributing to the market growth.
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eMagazines Market Report Highlights
• North America is projected to witness significant growth from 2021 to 2028. The presence of well-established brands and manufacturers is one of the key factors supporting the regional market growth
• The subscription segment is likely to expand at a high CAGR of 6.8% from 2021 to 2028. Subscriber can able to watch again and again anytime and anywhere
• The smartphones segment is estimated to register the fastest CAGR of 7.1% from 2021 to 2028. Smartphones made reading more convenient as eMagazines library in the palm of hands
eMagazines Market Segmentation
Million Insights has segmented the global eMagazines market based on access, device, and region:
eMagazines Access Outlook (Revenue, USD Million, 2017 – 2028)
- Single Copy
- Subscription
eMagazines Device Outlook (Revenue, USD Million, 2017 – 2028)
- Smartphones
- Tablets and eReaders
- Others
eMagazines Regional Outlook (Revenue, USD Million, 2017 – 2028)
- North America
- U.S.
- Europe
- Germany
- France
- U.K.
- Asia Pacific
- China
- Japan
- Central & South America
- Brazil
- Middle East & Africa
- South Africa
List of Key Players of the eMagazines Market
- Bertelsmann SE and Co. KGaA
- Bloomberg LP
- British Broadcasting Corp.
- Gannett Co. Inc.
- Meredith Corp.
- The New York Times Co.
- Schibsted ASA
- Hearst Communications Inc.
- Forbes Media LLC
- Conde Nast
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