LONDON--(BUSINESS WIRE)--The global e-textbook rental market is expected to grow at a CAGR of close to 21% during the period 2017-2021, according to a new market research study by Technavio.
The report categorizes the global e-textbook rental market by payment model (subscription services and pay-as-you-go model) and by end-user (academic segment and non-academic segment). The report also determines the geographic breakdown of the market in terms of detailed analysis and impact, which includes key geographies such as APAC, the Americas, and EMEA.
This report is available at a USD 1,000 discount for a limited time only: View market snapshot before purchasing
Buy 1 Technavio report and get the second for 50% off. Buy 2 Technavio reports and get the third for free.
Market driver: cost-effective pricing model
The cost-effective pricing model of the e-textbook rental concept is one of the key drivers of the market. Many students across the globe devote a significant portion of the money to buy books that are curriculum-specific to a certain term or semester. This has resulted in the increasing number of companies converting their conventional textbook curriculum into digital versions in the form of e-textbooks. Students are increasingly renting these e-textbooks instead of buying them online. Loaning e-textbooks or renting them often costs much lesser for students than buying.
According to Jhansi Mary, a lead analyst at Technavio for education technology research, “Accessing course materials through e-textbooks allows marking, note sharing, highlighting, and hyperlinking. Furthermore, effective payment models such as the subscription and the pay-as-you-go model of the global e-textbook rental market are other key drivers that are gaining popularity among learners. Students have been increasingly preferring to read books online.”
Looking for more information on this market? Request a free sample report
Technavio’s sample reports are free of charge and contain multiple sections of the report including the market size and forecast, drivers, challenges, trends, and more.
Market trend: rising integration of software with digital textbooks
Several vendors are trying to make digital textbooks convenient and useful for learners by providing additional features in them. A few of the vendors provide software with traditional textbooks. However, e-textbooks allows students to highlight and take notes apart from allowing them to engage in social learning. The digital publisher, Inkling, announced and added a social aspect to e-textbooks that allow students to review and rate books. It also allows them to share information and notes with other peers in classrooms. A few other software are being integrated into digital e-textbooks to make them user-friendly and effective through videos, 3-D images, and built-in tests. Such initiatives by market vendors should boost the growth of the global e-textbook rental market during the forecast period.
Market challenge: increasing threat from open-source content
Owing to considerable advances in the technological domain and low barriers to market entry, several niche players and a few of the established vendors have started offering free open online instruction material and resources. This is because of the need to bring in a balance against the skyrocketing prices involved in buying books and other expenses in modern education system. These players offer information and e-textbooks at considerably low prices and at times the offerings are for free.
Is your business on track for a successful future? Learn how Technavio can help
Technavio helps businesses anticipate changes in their marketplace, make proactive adjustments, and develop effective strategies to optimize their market positions.
Key vendors in the market
- Bloomsbury
- Chegg
- CengageBrain
- TextbookRush
The global e-textbook rental market is highly competitive owing to the presence of various established publishers and emerging start-ups that offer innovative solutions to consumers willing to rent e-textbooks for a limited duration at a definite cost. The presence of many players competing for the leading position has led to the intense market rivalry. Vendors are innovating with their solutions to achieve better customer-friendliness and convenience.
Get a sample copy of the global e-textbook rental market report free of cost
Access Technavio’s continuously growing education technology research library and find expert analysis on hundreds of markets.
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
If you are interested in more information, please contact our media team at media@technavio.com.
