A new study from the U.K.-based research group Digital Productivity Research (DPR) is offering its latest forecast of the coming year, which is due to be released in late April.
The new report, published online in the journal ePrint, predicts that digital product sales will grow at a 7% annual rate over the next five years.
The industry has already seen significant growth in the first half of 2017, which was led by the growth of digital drawing products, which generated sales of $9 billion in the U-Shop market.
However, the report notes that there are signs that digital products will not be the only part of the digital product pie in 2017.
While digital products, including digital drawing, will likely continue to grow, the industry is also poised to see a “big shift” in the way products are sold in the coming years.
According to DPR, “digital products will be an increasing part of retail spending, with the majority of digital products expected to be digital only products in 2019.”
According to DPR, digital product revenue in the United Kingdom will continue to rise in 2019, up from $1.8 billion in 2019 to $2.6 billion in 2020.
But the digital products that are expected to gain most from this growth are those with more than five million units sold.
“The growth in digital products could potentially be the result of the launch of new digital drawing devices,” DPR notes.
“There is evidence that digital drawing is now becoming more popular in the marketplace.
However it will be interesting to see whether the digital drawing market will continue its strong growth trajectory in 2019 or if this will be replaced by a more general focus on other digital products.”
A key feature of the Digital Productive Report is its forecast for sales of digital product.
This is where the study takes into account the growth and success of digital services.
The digital products included in the report will be expected to generate revenues of between $50 billion and $100 billion in 2021, based on the projections in the previous report.
“Digital product sales are expected grow at an average annual rate of 7% in the next 5 years,” DPPR’s report states.
“These sales growth is likely to be driven by new digital products launched in the digital domain, and a growing interest in digital drawing.”
While digital drawing may be the most popular category in the industry, the other digital product categories that are also expected to grow in the new year include painting, music, and video games.
The report suggests that the digital painting industry will see a strong growth in 2021 as well, which could be the case as the digital paint industry continues to grow.
“We expect digital painting sales to increase from $5 billion in 2018 to $7 billion in 2022, with a growth rate of 8% over the same period,” the report states, noting that painting sales are predicted to grow at 7% and 8.5% annual rates in 2022 and 2024 respectively.
Painting and music sales are also predicted to be growing in the future, which are predicted at an 8% and 7% growth rate over 2021 and 2024, respectively.
“Our analysis suggests that digital painting and music will continue their strong growth trajectories over the coming decade,” DPI notes.
Digital products are expected not only to drive overall digital product market growth, but also to be a key driver for the continued growth of the e-commerce and e-retail industries.
“If digital products do not dominate the digital market, this could affect the growth rate for these sectors and could even result in an even greater concentration of digital companies in the ecommerce and retail markets,” DPA notes.
For example, in 2019 e-book sales will increase to $11.6 trillion, according to DPA, with total digital product revenues estimated to reach $11 trillion in 2020 and $12.2 trillion in 2021.
DPA also expects that e-books and ebooks-only services, such as Kindle, will continue growing at an annualized rate of 3.7% and 6.2% in 2020, respectively, with growth rates of 8.1% and 9.4% in 2021 and 2022 respectively.
The study also notes that the online publishing industry is expected to experience a significant growth of around 10% in 2019 and 2020, which will help to fuel an overall increase of the online book and book-only market in the world.
For digital product, the overall growth rate is expected at an 11.4%, which is expected in 2019.
Digital book sales are forecast to increase by about 5.6% annually in 2019 according to DPRI.
“In 2019, digital book sales will reach $9.4 trillion, representing an annual growth rate between 8.6 and 10.2%.
This is driven by the adoption of e-readers and the introduction of eBooks, as well as the rise in e-reading platforms like Amazon, Barnes & Noble, and Kobo,” the DPR report