E-Books Market - Forecasts from 2022 to 2027

Global E-books market was valued at US$34.652 billion in 2020. E-books, also known as electronic books, are referred to as those books that are published in digital forms to be viewed or read on mobile devices such as smartphones, PCs and laptops, e-readers, and tablets, among others. These books consist of similar content available in printed textbooks, such as texts, images, and graphics, among others. The primary factors driving the e-books market growth include the rapid penetration of smartphones and other mobile devices, among others, across the various developed economies of the globe. Also, the ability of these books to offer similar satisfaction to the users is simply driving their adoption among a greater technologically equipped population, especially in developed economies. Additionally, the growing focus of the governments of various countries on protecting the environment has been leading to many campaigns for saving trees, and reducing the use of paper is also propelling the opportunities for the market to grow in the near future.

The recent outbreak of the novel coronavirus disease is also anticipated to be a key factor boosting the demand for e-books in the short run. Numerous government measures, such as lockdowns and social distancing in many countries to prevent the spread of this deadly virus, are projected to push the adoption of e-books among reading enthusiasts. The closure of public libraries and various retail booksellers will significantly augment the adoption of e-books and thereby positively impact the e-books market growth during the next eight to ten months.

Rising penetration of mobile devices and growing internet penetration are significantly driving the market growth

Growing penetration of mobile and portable computing devices like smartphones and tablet PCs is expected to spur the growth of the e-books market in the forecast period. The rapid adoption of smartphones and e-readers has been continuously increasing the demand for e-books as these can be stored and kept for longer periods, unlike printed books, which have to be purchased and, after their completion, remains of no use. According to the data from the World Bank, mobile penetration is highest in Europe and the Americas, followed by the Asia Pacific and Middle-east, and Africa regions. This led to greater adoption of various online books in the North American and European regions.

The growth is fastest in the Asia Pacific, especially in China and India, where more and more people are gaining access to smartphones and mobile internet connectivity daily. The entry of Reliance Jio in India in the year 2016 disrupted the whole mobile internet connectivity market, reducing the prices heavily, which in turn, fuelled the demand for more smartphones and other mobile devices. Thus, the availability of cheaper and faster internet services in developing economies around the globe is further providing an impetus for the market to surge in the coming years.

Also, the primary factor that has led to the deep penetration of the internet among the general population is the rapid increase in the number of smartphone users, on account of growing smartphone shipments over the past decade, thus improving internet penetration rapidly, more specifically in developing economies. According to the World Bank, the population using the internet increased from 6.77% in 2000 to 49.723% in 2017. Simultaneously, the number of households with broadband access has increased significantly in both developed and developing economies. For instance, in the United States, fixed-broadband subscriptions reached 110,568,000 by 2018, from 84,552,000 in 2010. Similarly, in China, it increased from 126,337,000 in 2010 to 407,382,000 by 2018 (Source: The World Bank Group).

Perception towards printed books

The effective adoption and use of e-books are hindered due to concerns regarding the satisfaction of printed books and the lack of knowledge regarding these books in many underdeveloped countries. Moreover, the perception regarding the lack of availability of the internet and the availability of platforms for these books in underdeveloped nations is further limiting the adoption of e-books. There is still a significant proportion of readers that favours traditional printed books over e-books due to the fact that it provides them higher satisfaction.

Furthermore, the lack of awareness about various online platforms has hindered its demand. In many cases, digital books have only been subjected to reading through the usage of mobile devices and internet connectivity, especially in developing economies, and this has resulted in its adoption by a specific group that has these facilities.

The global e-books market has been segmented on the basis of platform, type, and geography. Based on the platform, the market has been segmented into smartphones and tablets, PCs and Laptops, and e-readers. On the basis of type, the segmentation has been done into consumer e-books and educational e-books. Geographically, the market has been classified into North America, South America, Europe, the Middle East and Africa, and the Asia Pacific.

North America to hold a significant market share

Geographically, the North American region is projected to hold a noteworthy share in the e-books market primarily on account of the early adoption of technology and well-established internet infrastructure in countries like the United States and Canada. Furthermore, the presence of key market players such as Amazon is also bolstering the significant share of this region in the global market. Also, the wide acceptance of digital reading methods in the region is driving the growth of the e-books market in the North American region.

Competitive Insights

Prominent key market players in the e-book market include Amazon, HarperCollins Publishers, and Rakuten Kobo Inc, among others. These companies hold a noteworthy share in the market on account of their good brand image and product Platforms.

Major players in the e-book market have been covered along with their relative competitive position and strategies. The report also mentions recent deals and investments of different market players over the last two years.

Key Developments in the Market

In July 2021, Bookwire, the German digital book publishing firm, announced that it would take over the distribution of Editorial Planeta's Spanish-language portfolio. The collaboration comprises both e-books and audiobooks from the worldwide renowned publishing and media company with Spanish roots. As part of their collaboration, the dup delivered 1,200 audiobooks and 30,000 e-books. The content, which covers a variety of genres, was made available globally through Bookwire, with a concentration on Spanish-speaking target markets including Spain, Portugal, the US, and nations in Central and South America like Chile, Argentina, Colombia, Mexico, Peru, Ecuador, Peru, Uruguay, and Venezuela.

In June 2021, European fastest-growing digital book services provider acquired Nubico, a Spanish book streaming app. Following the acquisition, Nextrory offered unlimited access to a wide range of unique catalogues of over three hundred thousand e-books and audiobooks.

In March 2020, India's largest integrated telecom firm, Airtel, offered Free access to over thousands of titles on Juggernaut Books, formerly known as Airtel Books, the e-books platform run by the firm. Readers were able to access thousands of popular books and novels on Juggernaut Books for FREE by just installing the app n their smartphones while India stays at home to support the Government's attempts to contain the spread of COVID-19.

COVID-19 Insights:

COVID-19 had a positive impact on the global e-books market. The surge in active cases mandated lockdown, and social distancing measures had led to the closure of many libraries, institutions, and retail book stores. Amid such a scenario, the consumption of e-books increased greatly. Furthermore, with consumers confined at home, e-books became a great activity to spend their leisure time.

Segmentation

By Platform

• Smartphones and Tablets
• PCs and Laptops
• E-readers

By Type

• Consumer E-Books
• Educational E-Books

By Geography

• North America
• USA
• Canada
• Mexico
• South America
• Brazil
• Argentina
• Europe
• Germany
• France
• United Kingdom
• Spain
• Middle East and Africa
• Saudi Arabia
• Israel
• Asia Pacific
• China
• Japan
• South Korea
• India
• Indonesia
• Thailand