E- Book Market - Growth, Trends, Forecasts (2020 - 2025)
The global e-book market (henceforth, referred to as the market studied) was valued at USD 18.13 billion in 2019, and it is expected to reach USD 23.12 billion by 2025, registering a CAGR of 4.9%, during the period 2020-2025 (henceforth, referred to as the forecast period).
- Technical development and sophistication of reading devices that provide a similar experience to that of reading an actual book is the key factor driving the global e-book market. The rising adoption of smartphones and multilingual features of E-books is an advantage which is expected to drive the global demand for e-books.
- Moreover, the increasing trend of collecting information online for research or educational purpose is adding to the growth of the e-books market.
- Besides, libraries and publishers are also increasingly receiving responses for e-books. Hachette Book Group, one of the big publishers, has announced that in 2019 the publishing company generated EUR 2.38 billion, which is a 5% increase since 2018. Digital books accounted for 7.7% of the publishers revenue, which means the format made around EUR 83 million for the year. Digital audiobooks represented 3.4% of revenue, up from 2.7% in 2018 and they accounted for EUR 81 million.
- Furthermore, the environment protection campaigns from governments across the globe especially for saving trees to reduce the use of paper also increases the demand for e-books.
Key Market Trends
Increased Use of Electronic Devices
- Rise in number of portable readable devices such as smart phones and tablets is anticipated to be the major growth factor for the global e-book market. Consumes are preferring e-books over books due to the fragility of books to wear and tear, need of adequate care, and high cost.
- Digitization of books and its accessibility over the internet is expected to create an innovative environment to offer real time experience for readers. E-book readers who own tablets or e-readers are very likely to read e-books on those devices however, consumers owning computers or cellphones sometimes turn to those platforms, too.
- While United States consumers are more likely to adopt the digital technology for their reading activities, German population is also seen increasingly using electronic devices for reading purposes. This demand is further supported by the companies operating in the market. For instance, following Apple Inc., Kobo Inc. added a night-time mode that yellows the screen theregy resting the eyes.
- As a result, there is a surge in tablet and e-reader ownership levels and are more prominent in the e-reading scenario.
North America Dominates the Market
- E-books in North American region came early as a natural and permanent choice over printed books for consumers when they want speedy access and portability and publishers have effectively responded to consumers’ fast-growing acceptance of new reading devices by constantly redefining and expanding new concepts of books.
- Furthermore, there is a spike in the ownership of both tablet computers and e-book reading devices such as the original Kindles during the gift-giving season. Moreover, increasing demand for digitalized comic books is projected to drive the market in the region and therefore comic book publishers such as DC Entertainment and MARVEL are expanding their portfolio to follow this trend.
- Additionally, in late 2019, the American Library Association (ALA) and Public Library Association (PLA) announced a public campaign in response to recent efforts to limit library access to e-books. During the 2019 Digital Book World conference, ALA debuted an online petition at eBooksForAll.org for members of the public to urge Macmillan Publishers to reverse the proposed embargo on e-books sold to libraries.
The global e-book market is fragmented with many independent authors and publishers, while certain players account for a majority share in the market. Amazon’s KDP, Apple's iBooks Author, among others hold a dominant share in the global e-books market. Key players in the market adopt strategies such as joint-ventures and partnerships with small and regional publishers to gain higher market shares.
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- 1 INTRODUCTION
- 1.1 Study Deliverables
- 1.2 Study Assumptions
- 1.3 Scope of the Study
- 2 RESEARCH METHODOLOGY
- 3 EXECUTIVE SUMMARY
- 4 MARKET DYNAMICS
- 4.1 Market Overview
- 4.2 Market Drivers
- 4.3 Market Restraints
- 4.4 Industry Attractiveness - Porter's Five Forces Analysis
- 4.4.1 Threat of New Entrants
- 4.4.2 Bargaining Power of Buyers/Consumers
- 4.4.3 Bargaining Power of Suppliers
- 4.4.4 Threat of Substitute Products
- 4.4.5 Intensity of Competitive Rivalry
- 5 MARKET SEGMENTATION
- 5.1 Geography
- 5.1.1 North America
- 22.214.171.124 United States
- 126.96.36.199 Canada
- 5.1.2 Europe
- 188.8.131.52 Spain
- 184.108.40.206 United Kingdom
- 220.127.116.11 Germany
- 18.104.22.168 France
- 22.214.171.124 Italy
- 126.96.36.199 Netherlands
- 188.8.131.52 Rest of Europe
- 5.1.3 Asia-Pacific
- 184.108.40.206 China
- 220.127.116.11 Japan
- 18.104.22.168 India
- 22.214.171.124 Australia
- 126.96.36.199 South Korea
- 188.8.131.52 Rest of Asia-Pacific
- 5.1.4 Latin America
- 184.108.40.206 Brazil
- 220.127.116.11 Argentina
- 18.104.22.168 Mexico
- 22.214.171.124 Rest of Latin America
- 5.1.5 Middle East and Africa
- 6 COMPETITIVE LANDSCAPE
- 6.1 Company Profiles
- 6.1.1 Amazon.com, Inc.
- 6.1.2 Rakuten Kobo Inc.
- 6.1.3 Apple Inc.
- 6.1.4 Barnes and Noble LLC
- 7 MARKET OPPORTUNITIES AND FUTURE TRENDS