The e-textbook rental market is expected to grow by USD 294.96 million during 2020-2024. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. We expect the impact to be significant in the first quarter but gradually lessen in subsequent quarters – with a limited impact on the full-year economic growth.
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Technavio has announced its latest market research report titled Global E-textbook Rental Market 2020-2024 (Graphic: Business Wire)
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Students across the world are compelled to spend a significant portion of their money on curriculum-specific books that are limited to a certain time or a semester. Hence, many companies are converting conventional curriculum into digital versions in the form of e-books. These books are can be rented instead of buying online, which helps students save money. Moreover, the availability of effective payment models such as subscription and pay-as-you-go are increasing the popularity of rental e-textbooks among learners. Many such factors are contributing to the growth of the global e-textbook rental market.
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As per Technavio, the increasing number of publishers going digital will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth over 2020-2024.
The growing acceptance of digital content and e-textbooks is encouraging many publishers across the world to offer digital versions of their offerings and reach out to a wider audience. Besides, publishers are adopting effective and economic e-textbook rental programs to promote their services among students. For instance, in 2017, McGraw-Hill Education and iFlipd launched the pay-as-you-go weekly e-textbook rental program which allowed students to select book titles of their choice, both in digital and print editions, for USD 15 per week. The program also allowed students to own a book or earn a rebate of USD 50 on the book after eight weeks. Such initiatives are increasing the acceptance of rental e-textbooks, which is driving the growth of the market.
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e-textbook rental market by End-user (Academic segment and Non-academic segment), Geography (North America, Europe, APAC, South America, and MEA), and Payment Model (Subscription services and Pay-as-you-go model).” data-reactid=”36″>This market research report segments the e-textbook rental market by End-user (Academic segment and Non-academic segment), Geography (North America, Europe, APAC, South America, and MEA), and Payment Model (Subscription services and Pay-as-you-go model).
The North American region led the e-textbook rental market in 2019, followed by Europe, APAC, South America, and MEA respectively. During the forecast period, North America is expected to register the highest incremental growth due to the presence of many start-ups and e-textbook rental service providers in the region.
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