E-Textbook Rental Market Size to grow by USD 924.7 million between 2024-2028
According to a research report “ E-Textbook Rental Market” by End-user (Academic, Non-academic) Revenue Stream (Subscription services, Pay-as-you-go-model) Geography (North America, Europe, APAC, South America, Middle East and Africa)- Global Forecast to 2028 published by Technavio, the market size is estimated to grow by USD 924.7 million, at a CAGR of 27.11% during the forecast period. The e-textbook rental market is experiencing significant growth due to the cost-effective pricing model of this concept. Students, who typically spend a substantial amount of money on curriculum-specific textbooks that are only required for a specific term or semester, are increasingly turning to e-textbook rentals as an alternative to purchasing these books outright. This trend is driving an increasing number of companies to convert traditional textbooks into digital versions, providing students with a more affordable option. The cost savings from renting e-textbooks can be substantial, making it an attractive proposition for students looking to manage their expenses effectively. E-textbook rentals offer a more economical solution compared to buying textbooks, which is a significant expense for students alongside housing and tuition fees..
Browse market data tables, figures, and in-depth TOC on “E-Textbook Rental Market” by End-user (Academic, Non-academic) Revenue Stream (Subscription services, Pay-as-you-go-model) Geography (North America, Europe, APAC, South America, Middle East and Africa) Global Forecast to 2028. Download Free Sample
By End-user, the Academic segment is projected to dominate the market size in 2024
The e-textbook rental market is a burgeoning business sector, offering students affordable access to digital textbooks. This model allows students to rent digital textbooks for a fraction of the cost of purchasing new ones. By leveraging cloud technology, e-textbook rental platforms enable users to access their materials from anywhere, at any time. This flexibility and cost savings make e-textbook rentals an attractive alternative to traditional textbook ownership. Additionally, the use of digital textbooks reduces the need for physical storage space and contributes to a more sustainable academic environment.
By Revenue Stream, Subscription services segment is expected to hold the largest market size for the year 2024
The e-textbook rental market represents a significant business opportunity, with increasing numbers of students and institutions embracing digital learning. This sector offers cost savings through rental models, access to updated content, and convenience. Market growth is driven by advancements in technology, shifting educational trends, and the demand for affordable educational resources. E-textbook rental providers must focus on user experience, content selection, and competitive pricing to succeed in this competitive landscape.
North America is forecasted to hold the largest market size by region in 2024
The e-textbook rental market represents a significant business opportunity, with growing numbers of students and institutions embracing digital learning. This sector offers cost savings and convenience, as students can rent digital textbooks for a fraction of the cost of purchasing new ones. Additionally, e-textbooks are accessible from anywhere, making them an ideal solution for students with hectic schedules or those studying remotely. The market is expected to expand further as technology advances and more educational institutions adopt digital learning platforms.
The E-Textbook Rental Market growth and forecasting report also includes detailed analyses of the competitive landscape of the market growth and forecasting and information about 20 market companies, including:
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Research Analysis Overview
The E-textbook rental market has seen significant growth in recent years due to the digitization of education. However, the shift to digital solutions has raised concerns about data security, particularly in relation to private players in the market. The outsourcing of processing and storage of student data to third parties increases the risk of data theft. Airport infrastructures, too, have undergone digital transformation with the implementation of e-passports and biometric technology. Travel documents now contain microchips with unique identification numbers and digital signatures, storing personal information such as the holder's name, passport's page number, and characteristic information. International borders and airports have become more secure with these digital solutions, reducing the need for traditional paper technology and manual processing. However, the use of electronic technology also raises concerns about illegal immigration and the potential misuse of personal information. Despite these challenges, the benefits of digitization are clear. E-textbooks offer greater accessibility and flexibility, while e-passports streamline immigration processes and enhance security. As the world becomes more interconnected, it is essential to ensure that these digital solutions are implemented securely and ethically.
Market Research Overview
The E-Textbook Rental Market is witnessing significant growth due to the increasing digitization of education and the adoption of advanced technologies such as GSI Sertracen, Verdios, and Evidos in hardware and software components. These technologies include processor/chips, antennas, and biometric passport technology with radio frequency identification (RFID), facial recognition, and fingerprint scanning. International interoperability is crucial in this market to ensure logical data structure and cybersecurity against data theft and illegal activities. Private players like Fair Square Financial, Ally Financial, Salesforce, Rocket Mortgage, and financial institutions including banks and credit unions are investing in extended access control systems using biometrics technology, blockchain technology, beacons technology, augmented reality, and machine learning for advanced verification. The travel industry, particularly international travel, is also embracing digital solutions for border control procedures. Biometric passports, digital signatures, and encryption methods are being used for identity verification, enhancing security against identity fraud, tampering, and fraud. The E-Textbook Rental Market is segmented by region, application, and technology. The travel industry segment is expected to grow significantly due to the implementation of advanced airport infrastructure and the need for automated identity verification at immigration checkpoints and border crossings. The technology segment includes RFID, biometric technology, and wireless communication technology, among others. Despite the benefits, challenges such as human error, human involvement, and the need for international standards for interoperability remain. Self-service kiosks and manual passport checks coexist, impacting passenger experience. Enhanced security measures like anti-fraud measures, encryption, and digital signatures are essential to mitigate risks of identity theft, organized crime, and international terrorism. The implementation cost and cross-border destinations with advanced airport infrastructure are key factors driving market growth. Estimations suggest that the E-Textbook Rental Market will continue to grow, offering opportunities for innovation and improvement in the travel industry.
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