LOS ANGELES, Nov. 28, 2016 /PRNewswire/ -- 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.
At present, the CrossRef database contains 75 million DOIs, of which 60 million refer to journal articles from a total of over 38,000+ journals (20% journals are inactive). GoogleScholar, the world's largest index source is estimated to have between 125 to 175 million documents including journal articles, books, and grey literature. Journals under subscription are becoming inactive and openaccess journals are increasing; as of now 10,000 open access journals are operational. Articles originating from openaccess journals are approximately 500,000 per year, comprising 20% of total yearly scholarly articles outcome, Dr Gedela added. Recently many publishers and members of the scientific community are following articles metrics rather than the traditional impact factors. Articles metrics are also called article-level-metrics, Altmetrics or Article Impact factors. Today, authors need not wait for their works to be cited by the others in the scholarly world. They need not wait for the impactfactor to be counted for their credibility and success. The emerging alternative metrics to gauge the author's success is available in the form of article impactfactor. The online digital media's emergence has entirely changed the scientific publication scenario today by prioritizing the article impactfactor/articles metrics rather than the journal. The article's impact is counted based on the number of clicks to the article, views, downloads, shares, likes, online responses it could elicit and the number of times it is cited in the peer reviewed journals. Scholarly and the professional network platforms like ResearchGate, LinkedIn, GoogleScholar along with social media platforms like Facebook and Twitter are playing crucial role in enhancing the article impactfactor. The ever changing and dynamic articles metrics offer a quick view of its social impact.