Media industry and forecast analysis firm Simba Information, US, has released a report titled 'Global Professional Publishing 2009-2010'. According to the report, scientific, technical, medical, legal and business journals - an $8.9 billion market that represents over 20 percent of the entire professional publishing industry - rebounded and grew at 3 percent in 2010. Growth will continue at a compound annual rate of 3.3 percent with medical journals growing faster than any other professional journal segment, just ahead of scientific and technical journals, the report notes.
Professional journal revenues reportedly fell in 2009. Journals have however managed to bounce back as the result of a recovering economy, stable renewals, price increases, new product offerings from publishers and a slight improvement in advertising. Growing demand from users for immediate access to new information, along with fully searchable archives, has been met as publishers moved journals from print to value-added electronic formats.
According to the report, STM journals are seeing the largest growth, but also face turbulence in the years to come. It further states that publishers will have to compete against electronic information tools and will be challenged by the continued proliferation of open access journals and international piracy. In addition, library acquisition budgets are expected to be somewhat stagnant in the period, making growth harder to come by. Medical journals will be further challenged by new pharma advertising strategies that seem to be moving dollars out of journals, says the report.
Global Professional Publishing 2009-2010 provides a comprehensive, analytical look at the overall landscape of the global markets for legal, business, scientific, technical and medical information, breaking down each market segment by books, journals, newsletters, directories, online services and abstracting & indexing. Company profiles include key players such as Reed Elsevier, John Wiley & Sons, Springer Science+Business, Wolters Kluwer and others.
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