According to the most recent report from Simba Information, the Biden administration's decision to drop embargos on publicly funded research will fuel strong open-access publishing growth over the next four years.
The report, Open Access Journal Publishing 2022-2026, found that the rate of growth—in terms of both open access (OA) articles published and revenue generated—spiked over the last two years primarily because of the COVID-19 pandemic. OA sales now represent 12% of the global 2021 scholarly journal market, when it accounted for less than 5% as recently as 2017.
While Simba estimates overall scholarly journal revenue to stagnate between 2022 and 2026, OA revenue is expected to grow well into the double digits annually. In that period, publishers will ramp up negotiating transformative agreements with academic institutions. However, the impact on library budgets will be the same in the near term. Libraries will spend large portions of their budget on packages from the largest commercial publishers.
Open Access Journal Publishing 2022-2026 provides detailed market information for this segment of scholarly journal publishing. It analyzes trends impacting the industry and forecasts market growth to 2026. The report includes an in-depth review of 10 leading OA publishers, including Springer Nature, MDPI, John Wiley & Sons, Elsevier, Frontiers, Taylor & Francis, Wolters Kluwer, and others.Click here to read the original press release.