India’s Print Book Market on Track to Reach Nearly US$12 Billion by 2024: Opportunities for Growth and On-Demand Printing Technology

According to a report by Nielsen Book Data and the Federation of Indian Publishers, the Indian print market is expected to reach a value of nearly US$12 billion by the end of 2024, indicating significant growth. In 2018-2019, the publishing sector contributed INR 145.3 billion (US$1.8 billion) to India’s overall economy, amounting to a direct contribution of 0.08% of the nation’s total gross domestic product.

As per the report, the Indian print book market was valued at INR 720.6 billion (US$8.8 billion) in 2019-2020, and this value is projected to grow at a compound annual rate of 19.4% between 2023/2024 and 2025/2026. The majority of the market (71%) is in the school sector, with an additional 25% dedicated to higher education, and the trade segment accounting for just 4% of the market.

The report also notes that India is already the world’s third-largest market for print book publishing. By leveraging government support to enhance self-reliance in this segment and taking advantage of India’s position as the world’s second-largest English-speaking economy, the country has the potential to become a global publishing hub with the cooperation of all stakeholders in the industry.

The report concludes that all three publishing market segments in India – schoolbooks, higher education, and trade books – have promising prospects for growth.

When we talk about printing textbooks, manuals, and other educational materials, they may require frequent updates or customization. The need for up-to-date and accurate information is critical in this case and On-demand printing is becoming an increasingly popular option for businesses and organizations that require regular and frequent updates to their documents and an ability to print precise numbers of copies and deliver them quickly.

The other key advantages of on-demand printing is that it eliminates the need for businesses and organizations to maintain large inventories of printed materials. This not only reduces costs but also helps to minimize waste and supports sustainability efforts. Instead of printing large quantities of books and storing them in warehouses, businesses can print only the number of copies they need, when they need them.

Digital Inkjet book printing technology has emerged as a game-changer in the on-demand printing industry. This technology offers a range of benefits, including high-quality printing, fast turnaround times, and the ability to print small or large quantities of books cost-effectively.

If you are interested in learning more about the technology mentioned in this article and would like to explore solutions that we offer, please do not hesitate to contact us. Our team of experts can provide guidance that is tailored to your specific book printing press business and requirements. We would be more than happy to discuss your needs and answer any questions you may have.

Visit: https://jetsciglobal.com/product/digital-book-printing-press/

*The India Book Market Report 2022, highlights the potential of print book publishing in India. If you are interested to know more, refer to the report. Contact Federation of Indian Publishers or Nielsen Book data.