Friday, December 2, 2011

Growth in Multimedia Course Learning Products

This story from Marketwire says Simba Information’s latest report shows that the U.S. market for multimedia materials in higher education will grow 48.4%, topping $1 billion by the end of 2011.  According to the story, Cengage Learning's learning tools such as Aplia (homework assistance) and SAM (skills-assessment assistance) had more than 20% growth in a one-year period.   The story also says that product such as Pearson’s MyLabs continues their success on campus and John Wiley & Sons is arranging to unveil a more interactive version of its learning platform WileyPLUS in the near future.
The article quotes Kathy Mickey, senior Simba Information analyst, “Publishers are seeing double-digit growth across the board with multimedia materials.  Pearson so far has reported the highest percentage of revenue from products tied to digital solutions and services, nearing half of their global education revenue.  Although textbooks remain the largest revenue stream for publishers, the multimedia materials segment is where they can expect to compete against the used and rental textbook sellers,” 
So, if you take a conservative estimate of 20% growth rate for multimedia learning products over the next three years we can expect this market to reach over $3 Billion by 2015.  This story should encourage campus stores to put learning tools in your digital product offerings. 

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