MARKET ANALYSIS
The market for digital textbooks is made up of the big players that have been in the traditional textbook market for years. Cengage Learning, Houghton Mifflin Harcourt, McGraw-Hill Education, Pearson Education, McGraw-Hill Education are the main players in an industry that makes billions of dollars annually. These companies have grown over the years to become massive media conglomerates, owning magazines, newspapers, and digital publications (BookScouter, 2016).
Digital textbooks are increasingly common for the teaching of English and other languages and across educational contexts as well as in content oriented courses. They are also commonly accessed through mobile digital devices (e.g., tablets, smartphones). In addition to increased affordability and portability, potential benefits of digital textbooks include multimodality, a more enjoyable learning process, increased motivation (Huang, 2013), and, if implemented correctly, hypertextuality (Bikowsky, 2018, p. 119). While digital textbooks haven't replaced traditional texts yet, the increased presence in the market is promising and points toward a transition. According to BookScouter, in March of 2016 McGraw-Hill Education's sales of digital units in higher education were larger than print sales for the first time in the history of the company (2016). While the shift from physical to digital texts has been slower in the K-12 market Kognity is poised to take advantage of the shift, especially in terms of the International Baccalaueate and IGCSE progammes.
Digital textbooks are increasingly common for the teaching of English and other languages and across educational contexts as well as in content oriented courses. They are also commonly accessed through mobile digital devices (e.g., tablets, smartphones). In addition to increased affordability and portability, potential benefits of digital textbooks include multimodality, a more enjoyable learning process, increased motivation (Huang, 2013), and, if implemented correctly, hypertextuality (Bikowsky, 2018, p. 119). While digital textbooks haven't replaced traditional texts yet, the increased presence in the market is promising and points toward a transition. According to BookScouter, in March of 2016 McGraw-Hill Education's sales of digital units in higher education were larger than print sales for the first time in the history of the company (2016). While the shift from physical to digital texts has been slower in the K-12 market Kognity is poised to take advantage of the shift, especially in terms of the International Baccalaueate and IGCSE progammes.
VENTURE ANALYSIS
CUBE Framework
Type of Market
The market for Kognity is the K-12 education sector. Whether part of the public school system or private schools, the opportunities in K-12 are vast, and their focus on the International Baccalaureate Diploma Programme (IBDP), Cambridge IGCSE, and GCSE illustrates the companies desire to target specific curriculums in their quest to grow their business. |
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* I did not create these promotional videos but downloaded them from the Kognity website for instructional use here.
Type of Offering
Kognity is a content provider, developing courseware tailored to specific K-12 curricula which can be licensed and put to work immediately. Working closely with three curriculum programmes at the moment, Kognity offers students and teachers analytical data based on their engagement with the material in the digital textbooks in the form of ongoing assessment checks and progress reports. |
Who is the Buyer?
Kognity a school solution for the IPDP, Cambridge IGCSE or GCSE. Private schools or school boards would be interested in the product to replace the need for purchasing traditional textbooks. Kognity Intelligent Textbooks provide learners with updated, interactive content and eliminate the need for schools to purchase, store, and replace traditional textbooks. |
Global Market
The international market for digital textbooks is massive. As of May 3, 2019, there were 5,057 International Baccalaureate (IB) schools offering 6,608 programmes in 156 countries around the world (Facts and Figures, 2019). While the IB offers four different programmes, the Diploma Programme (DP) remains the most popular, as 163,173 candidates sat for 615,074 exams in May of 2018 in 2,790 schools in 143 countries (Statistical Bulletin, 2018). |
Market Status
The market for digital textbooks increases exponentially along with the increased use of technology and the infrastructure in schools to support them. As the availability/affordability of portable devices continues to flood the market with Apple, Android, and other devices, so does the potential influence of digital textbooks. |
Competition
Digital textbook technology works with a well-developed learning system. The current K-12 market for digital textbooks is a relatively new battleground. By focusing on the final few years of secondary education providers are targeting learners as they prepare for higher education. Hodder Education based in the UK offers their digital solution, Dynamic Learning as "an online subscription solution that supports teachers and students with high quality content and unique tools. Incorporating teaching and learning resources, Whiteboard and student eTextbooks and Question Practice elements and all work together to give you the ultimate classroom and homework resource" (Dynamic Learning, 2019). Nelson Education, one of the leading providers of learning solutions in Canada, introduced myNelson as a "robust, one-stop online teaching and learning resource designed to support student success" at the secondary level (About myNelson, 2019). To date there are few options in the digital textbook world |
REFERENCES
About myNelson. (2019). Nelson Education. http://digital.nelson.com/mynelson/
Bikowski, D., & Casal, J. E. (2018). Interactive digital textbooks and engagement: A learning strategies framework. Language Learning & Technology, 22(1), 119-136. https://scholarspace.manoa.hawaii.edu/bitstream/10125/44584/2/22_01_bikowskicasal.pdf
BookScouter. (2016, June 28). The Biggest Educational Publishers. https://bookscouter.com/blog/2016/06/the-biggest-textbook-publishers
Dynamic Learning. (2019). Hodder Education. https://www.hoddereducation.co.uk/dynamic-learning
Facts and Figures. (2019). International Baccalaureate Organization (IBO). https://www.ibo.org/about-the-ib/facts-and-figures/
The IB Diploma Programme Statistical Bulletin. (2018, May). International Baccalaureate Organization (IBO). https://www.ibo.org/contentassets/bc850970f4e54b87828f83c7976a4db6/dp-statistical-bulletin-may-2018-en.pdf
All images were taken by the author and used with permission.
About myNelson. (2019). Nelson Education. http://digital.nelson.com/mynelson/
Bikowski, D., & Casal, J. E. (2018). Interactive digital textbooks and engagement: A learning strategies framework. Language Learning & Technology, 22(1), 119-136. https://scholarspace.manoa.hawaii.edu/bitstream/10125/44584/2/22_01_bikowskicasal.pdf
BookScouter. (2016, June 28). The Biggest Educational Publishers. https://bookscouter.com/blog/2016/06/the-biggest-textbook-publishers
Dynamic Learning. (2019). Hodder Education. https://www.hoddereducation.co.uk/dynamic-learning
Facts and Figures. (2019). International Baccalaureate Organization (IBO). https://www.ibo.org/about-the-ib/facts-and-figures/
The IB Diploma Programme Statistical Bulletin. (2018, May). International Baccalaureate Organization (IBO). https://www.ibo.org/contentassets/bc850970f4e54b87828f83c7976a4db6/dp-statistical-bulletin-may-2018-en.pdf
All images were taken by the author and used with permission.