The global EdTech and smart classroom market is expected to reach $319.65 billion by 2029 at a CAGR of 17.8% during 2022-2029. On the other hand, a study by HolonIQ found that global digital spending is only 4% of the total expenditure on education and training, highlighting that the knowledge economy is due for massive digitization. This article describes how publishers can make the most of this transformation and leverage technology to expand to new horizons.
Drivers of Digitization of Education
Key propellers for the digital revolution in the learning sector are:
Increasing Focus on DEI-Based Learning
While educational authorities globally emphasize the need for adaptive learning solutions to ensure diversity, equity, and inclusivity in learning, edtech is prepared to support adaptive learning and assessment facilities. As a result, learners can learn at their own pace via their preferred approach, including gamification, collaboration, multimedia elements, and more.
Provision of Student-Centric Learning
Online learning platforms facilitate individualized learning goals and outcome management. This helps shed the barriers of age, gender, socio-economic status, and geography to make learning a continuous lifelong endeavor.
Mobile and Hybrid Education is the Future
Educational institutions, students, and parents are embracing the hybrid form of learning. Smart classrooms and the ease and accessibility of online education tools have allowed teachers to reach beyond their neighborhoods so that students from across the world can benefit.
What Does This Mean for Publishing Houses?
Amid the digitization of teaching and learning, the demand for cohesive learning materials that are accessible seamlessly online and offline is increasing. This is both a challenge and an opportunity for publishers. They can drive this transition while garnering multiple benefits for themselves.
- Catering to global learners and teachers can boost revenues manifold.
- Schools, colleges, and corporates are increasingly adopting edtech, which offers an excellent opportunity to penetrate newer markets by tailoring and repurposing learning resources.
- A multinational presence can de-risk publishing revenues from macro events in a particular region, maintaining profit continuity.
- Digitization helps publishers stay relevant and accessible, irrespective of the geopolitical, medical, or socio-economic environment.
How can Your Publishing Business Meet Market Demands?
The first step for a publisher, author, or lesson developer is to associate with a trusted, state-of-the-art digital publishing platform. Such a platform has the power to amplify your capacity, revenues, and outreach by:
Reducing Time to Market
The new-age content distribution platforms have advanced content authoring solutions with a rich set of tools, templates, and themes to speed up the process of lesson creation and distribution. They also use artificial intelligence to recommend content delivery styles based on the target audience.
Meeting Diverse Requirements
With digital solutions, content can be easily tailored and reused to meet the requirements of any state or country. In addition, the materials can be customized for learners of any age group and skill level. And if the learning platform supports multiple languages, it eases entry into new regions.
Simplifying Compliance
A platform that is compliant with legislative guidelines, such as FERPA, COPPA, and GDPR, as well as industry standards, such as LTI, QTI, SCORM, etc., can ensure that publishers remain compliant across geographies.
Improving Market Positioning
Digital learning solutions are equipped with advanced capabilities to augment lessons with audio-visual aids and enhance student engagement and learning outcomes. In addition, measurable results can help the publishing house build a reputation of reliability, relevance, and leadership in the market.
Seamless Integrations
Using an online learning platform that ensures effortless integration with third-party apps can help publishers meet diverse needs with a single solution. Plus, with multi-tenant architecture, they can even turn on and off features based on the subscription or license.
To Sum Up
With rapid advancements in edtech, the time is ripe for publishing houses to make the most of emerging opportunities. Those who respond with agility will benefit from the first-mover advantage in new markets. The key is to choose a proven digital publishing platform that can provide the required technology and support to deliver state-of-the-art learning experiences at a fraction of the cost of in-house development teams.
MagicBox™ is an industry leader, providing customized digital publishing solutions, flexible and scalable authoring tools, and much more to empower your publishing company to make the most of the changing global education landscape. Contact us now to learn how partnering with us can help you scale your business.
