The global E-book Market is set to reach USD 29.43 billion by 2024,
primarily driven by the advancement in technology, rising population of
educated youth, increasing smartphone penetration across the globe, government
policies promoting smart education, free accessibility and e-book reader
applications. Moreover, the availability of an online translation of e-book in
various local languages is anticipated to drive the market over the forecast
period.
Asia Pacific is
anticipated to witness the fastest growth over the forecast period on account
of rising adoption of smartphones and other digital reading platforms such as
Adobe eBook platform and Kindle. India and China have a large number of
educational institutes than any other country in the region. These educational
institutes are preferring e-books over the conventional books to reduce the
space as well minimize the cost attached to with paper books.
Over 60% of the
books sold in this region are educational owing to the higher number of
educational institutes. Preference of digitalization, especially journals in
STM (Science, Technology and Medicine), to access a larger volume of data seamlessly
is expected to propel growth. This factor is expected to drive the growth of
the nonfiction & education segment, resulting in 28.4% contribution to the
overall market by 2024.
Fictional books
contributed to the largest revenue share in 2016. The demand for the genre has
been increasing on account of consumer preference for leisure reading, and the
segment is expected to grow at a 7.8% CAGR over the forecast period.
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The industry has
been characterized by the presence of big companies that have been operating in
the market for a substantial period including Amazon, Hachette, Harper Collins,
Penguin Random House and Kensington Publishing. These companies have been
focusing on marketing strategies on expanding the reach of the market to
consumers located in urban as well as rural areas. These companies are also
expanding their user base within cities.
For instance,
Kindle Unlimited is a new feature launched by the firm which gives users access
to the thousands of audiobooks and e-books every month. This app also has a
library management feature which helps readers to organize e-books without any
difficulties. The popularity of digitization and accessibility is expected to
grow in tandem with the development of digital books industry.
Hexa Research
has segmented the global E-book market based on genre and
region:
Segmentation by
Genre, 2014 - 2024 (USD Million)
• Fiction
• Nonfiction & education
• Literature
• Children’s book
• Comics & graphic novels
• Others
• Fiction
• Nonfiction & education
• Literature
• Children’s book
• Comics & graphic novels
• Others
Segmentation by
Region, 2014 - 2024 (USD Million)
• North America
• U.S.
• Europe
• Germany
• UK
• Asia Pacific
• China
• India
• Rest of World
• North America
• U.S.
• Europe
• Germany
• UK
• Asia Pacific
• China
• India
• Rest of World
Key players
analyzed
• Amazon
• Hachette
• Harper Collins
• Penguin Random House
• Kensington Publishing
• Bloomsbury India
• LuLu
• Amazon
• Hachette
• Harper Collins
• Penguin Random House
• Kensington Publishing
• Bloomsbury India
• LuLu
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Market Reports@ https://www.hexaresearch.com/research-category/technology-industry
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