eBook Market is projected to record a CAGR of 4.9% from 2022 to 2032
The global eBook market is projected to record a CAGR of 4.9% from 2022 to 2032.
Given the delays associated with shipping and relatively high cost of books, eBook sales are soaring as readers are flocked to the convenience of instant read. The availability of services for these eBooks, such as eLending from eBook library, has further aided the global adoption of eBooks.
Driving the Adoption of eBooks
High penetration of smartphones, rising global appetite for eBook content in both English and other regional languages, increasing internet usage, online translation of eBooks into various languages, government initiative and supportive policies for smart education, a growing trend of Bring-Your-Own-Device (BYOD) concept, and free availability of various eBooks and eBook reader apps are some of the factors driving the growth of the eBook market.
Moreover, the market is expected to experience a significant growth, owing to an increase in uptake of eBooks in education and media &entertainment sector. However, factors such as lack of awareness among the audience regarding content of eBook and requirement of specific software or app are hampering the growth of this market to some extent.
EBooks are used for e-newsletters, e-journals, and e-magazines. Several eBook providers have embraced the eBook formatting technique using HTML and CSS technologies in recent years. Furthermore, eBook producers focus on eBook file size compression to allow their clients to download and read eBooks with minimal system requirements.
Increased internet usage, online translation of eBooks into various languages, government initiative and supportive policies for smart education, a growing trend of Bring-Your-Own-Device (BYOD) concept, and free availability of various free or paid eBooks and eBook reader apps are some of the factors driving the growth of the eBook market.
EBook Market segment
The global eBook market can be segmented in two categories, verticals and geography. By verticals, the market can be divided into several categories, including educational institutes, media and entertainment, and manufacturing.
Due to a growing number of educated youth, expanding demand for connected devices, and digital education around the world, the educational institutes segment is expected to rise at a high rate during the projected period. Many educational institutions are moving toward digitalization for journal and research paper publishing since they can be conveniently accessed by students and professors from anywhere at any time
Following Region Contributes Significantly to the Global eBook Market
From 2022 to 2032, the eBook market in North America is predicted to increase at a significant CAGR, making it the fastest-growing market in the global book publishing industry. In 2020, the number of eBooks units sold in United Stated reached a value of US$ 191 Mn.
In comparison to other rising regions such as Asia-Pacific and the Middle East and Africa, the eBook market in North America is the most developed of all the areas. Factors such as high penetration of smartphone and smart devices, high internet usage, and subscriptions have increased the market share of eBooks in North America.
• Free eBooks
• Paid eBooks
• Educational Institutes
• Media & Entertainment
• North America
• Latin America
• Asia Pacific
• Western Europe
• Eastern Europe
• Middle East & Africa
• McGraw-Hill, Wiley
• Kensington Publishing Corp.
• Cengage Learning
• Simon & Schuster
• Macmillan Publishers
• Penguin Random House
• Self-published eBooks
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