PreK-12 Market Sees Growth in Digital Courseware While Textbook Evolution Awaits: Simba Information
PreK-12 Market Sees Growth in Digital Courseware While Textbook Evolution Awaits: Simba InformationJuly 10, 2012
STAMFORD, CT--(Marketwire - Jul 9, 2012) - Awaiting the implementation of Common Core State Standards and a turnaround in the economy, the PreK-12 publishing market is in a transitory period: experiencing strong growth in digital courseware while other key segments hold steady, decline or prepare to evolve. According to a recent report by publishing forecast firm Simba Information, the PreK-12 market will post a strong compound annual growth rate of 8.8% through 2015 for digital courseware, while textbooks prepare for a major shift.
Digital Courseware has been leading the growth in the PreK-12 industry and will continue to do so through 2015; currently, digital holds 30.5% of the media used in classroom instruction. According to the report, top industry players Pearson, Houghton-Mifflin Harcourt and McGraw Hill Education are leading the instructional materials market, but the market is opening up to newcomers.
"The recent spread of multiple technology platforms will open doors for new companies to emerge," says Kathy Mickey, author of the report. "The industry is currently straddling two markets between the strong demand for print and growing digital usage; both will see further evolution."
Textbooks, which have been a staple of the PreK-12 learning platform, are expected to undergo significant changes within the next decade, alongside changes in classroom instruction. The report finds the segment will grow slightly as it nears 2015, as schools will tap the core basal textbooks to prepare students for Common Core assessments.
"By the end of the decade, schools will be less reliant on textbooks as we know them today," says Mickey. "While print will continue to have a role in classrooms, more and more of what we consider traditional print products, such as textbooks, will transition to digital products in which content is presented in a totally different fashion."
The report, Publishing for the PreK-12 Market 2012-2013, provides a segmented overview of the entire PreK-12 publishing industry, covering textbooks, digital courseware, print supplements, state-level tests, modular software, manipulatives, trade books, video and magazines. It provides key metrics for decision makers, including segmented sales estimates through 2015, and state and local funding trends. Profiles of major industry players are also covered in the report, including Cambium Learning Group, Pearson, Houghton-Mifflin Harcourt, Scholastic, McGraw-Hill Education, School Specialty, K12 Inc., Goodheart-Wilcox and many more.