Scholarly Publishing Market Size is Decreasing: Cost Effective Digital Media is Compensating

"The annual generated revenue from science, technology and medicine (STM) scientific journals is estimated about $12 billion in 2016, including books and other information within a broader STM publishing market worth some $25 billion. Open access STM journal publishing market is estimated at about $500 million in 2015 (up from $100 million in 2010, representing a CAGR of about 20%), where as subscription/paid access STM journal market is drastically decreasing to $8 billion by 2016 ($12.5 billion in 2014). The publishing industry employs an estimated 100,000 people globally, working for 10 million researchers. These researchers producing 2.5 million articles yearly, peer-reviewed articles and researchers are increasing at 10% CAGR. There is an urgent need for cost effective digital media and journal/article metrics, to serve the scientific community says Dr. Srinubabu Gedela, CEO OMICS International."