A positive growth has been witnessed by the global publishing market over the past five years with the growth momentum expected to continue into the future. The industry is set to grow at a compound annual growth rate (CAGR) of 2.3% through to 2017, to reach a total market value of $348 billion.
The industry its self consists of organisations primarily engaged in publishing newspapers, magazines, periodicals, books, directories and mailing lists, calendars, greeting cards and maps in print or electronic form.
A strong resilience was shown by the global publishing market during the early part of the 2007-2009 recession, with books and magazines providing an affordable form of entertainment, however, as the financial situation worsened the industry could no longer stand the pressure and book sales started to rapidly decline.
The industry has since been able to recover and growth within the global publishing market is set to be driven by numerous factors including internet publishing, foreign investment and the elimination of regulatory restrictions.
The industry does however still face a wide variety of market challenges including the managing and protecting of content rights and royalties, the growing demand for digital content, and a lack of widely accepted measurement.
The US currently dominates the global publishing market and this looks set to remain the case over the next five years. However, APAC is expected to grow at the highest rate through to 2017 due to an increasing number of mobile subscribers, which in turn is leading to opportunities for mobile advertising in Asian countries such as India and China.
For more information on the global publishing market, see the latest research: Global Publishing Market Report
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