Rockville MD – January 23, 2024 – A multitude of dramatic changes and transformations are impacting higher education, directly impacting the market for college course materials. Shifting credential trends, the rise of OER, challenges of artificial intelligence, reassessment of the value of higher education and ongoing college closings are among the transformational issues surfaced and analyzed in Simba’s just published comprehensive and detailed State of College Course Materials 2023-2025 research report.
Among these challenges and changes facing providers of educational materials are:
The increase in the number of undergraduates looking to earn short term credentials: the number of undergraduates earning certificates grew a dramatic 29.9% from the fall of 2022 to the fall of 2023
The closure of 20 higher education institutions between December 2022-December 2023, impacting nearly 31,000 students
How federal and state governments are supporting and, in some cases, even requiring colleges and universities to use free Open Educational Resources (OER)
The ongoing drop in student spending on course materials to its lowest level ever tracked
Another dramatic and brand-new force is, of course, generative AI. Even as use by both professors and students grows, instructors struggle to figure out how to create effective policies to prevent unauthorized use, avoid student loss of foundational skills in areas like critical thinking and writing, and matters around student privacy.
Simba has determined that the performance of key companies in the space was generally weak over 2022 and into early 2023. Pearson, Cengage and Wiley showed mid-to high single digit declines in their higher education units, while McGraw Hill reported a 1% increase in billings. The outlook for the college materials sector as a whole in 2024 is projected to be largely flat with losses in the low to single digit range.
In addition to surfacing and analyzing major market trends, State of College Course Materials 2023-2025 examines and analyzes a wide range of other key data that impact college course materials publishers. These include enrollment trends, updated counts on the number of postsecondary institutions, broken down by type of institution; current costs of attending college; federal funding policies and rulings on student loans; state funding levels broken down by individual state; and workforce development and apprenticeship programs.
A deep dive into the course materials market examines average college student spending on materials from 2021-2023, with breakdowns by majors for current year; the ongoing concern of affordability of textbooks and courseware; and how federal and state governments are incentivizing or even requiring the use of OER materials.
Simba also looks closely at the performance, competitive position, and mergers and acquisitions for major players serving the market, with a special focus on
- Cengage Learning
- Barnes & Noble Education
About The Freedonia Group
The Freedonia Group, a division of MarketResearch.com, is a premier international business research company, providing clients with product analyses, market forecasts, industry trends, and market share information. From one-person consulting firms to global conglomerates, our analysts provide companies with unbiased, reliable industry market research and analysis to help them make important business decisions. The Freedonia Group’s brands also include Packaged Facts, a trusted provider of consumer market research on food & beverage, pet products and services, demographics, and financial services, and Simba Information, the leading authority for market intelligence and forecasts on the education and professional publishing industries. Find off-the-shelf studies at https://www.freedoniagroup.com/ or contact us for custom research: +1 440.842.2400.