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Jillian President
Technical development and sophistication of reading devices that provide a similar experience to reading an actual book are the key factors driving the global e-book market. Advantages, like the increasing adoption of smartphones and the multilingual feature of e-books, are expected to drive the global demand for e-books.
The e-book market is fragmented, with many independent authors and publishers, while certain players account for a majority share of the market. Amazon's KDP and Apple's iBooks Author dominate the 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.
eBooks sales will soon overtake trade (physical) sales: When it comes to the general audience for eBooks, users between the ages of 25 and 34 read eBooks more than any other demographic, with 36% reporting to have read a digital book in 2019. Although people generally report reading more as they get older, the percentage of eBook users steadily declines within each age group. However, as people become more tech-savvy and libraries continue to embrace digital books, the ebook share of the book market revenue will likely surpass that of physical books by 2025.
The global eBook market size is estimated to be valued at US$ 19.95 Billion in 2022 and is projected to reach US$ 32.19 Billion by 2032. The sales of eBooks are projected to rise at a CAGR of 4.9% from 2022 to 2032, supported by:
During the projection period, North America is anticipated to contribute to around 47 % of market growth. The advantages of e-books, such as increased accessibility, reduced costs, and improved student engagement through interactive material, can be credited to this region's expansion. The USA and Canada are forecasted to contribute the most to market growth when we break it down by nation. In North America, clients now frequently choose electronic books over printed ones when they want quick access and mobility.
The main drivers of the market's expansion are the consumers' preference for digital or eBooks over physical books, as well as the rise in smartphone and mobile platform users. In China, the demand for eBooks is growing quickly, and young people are the ones fueling this expansion.
The sudden surge of copyright infringement has put the vendors and publishers operating in the worldwide eBook industry in danger. Piracy and illicit file-sharing have grown to be a danger to the expansion of the worldwide eBook market with the increasing Internet usage. The growing risk of eBook piracy concerns publishers' interests as well as the financial health of businesses. Thus, it is anticipated that throughout the projected period, illegal copying of intellectual information would restrain the growth of the global eBook industry.
High penetration of smartphones, the rising global appetite for eBook content in both English and other regional languages, increasing internet usage, online translation of eBooks into various languages, government initiatives 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.
The market is expected to experience significant growth, owing to an increase in the uptake of eBooks in the education and media &entertainment sector. However, factors such as a lack of awareness among the audience regarding the content of eBooks and the requirement for specific software or app are hampering the growth of this market to some extent.
Increased internet usage, online translation of eBooks into various languages, government initiatives and supportive policies for smart education, a growing trend of the 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.
The global eBook market can be segmented into two categories, verticals, and geography. By verticals, the market can be divided into several categories, including educational institutes, media and entertainment, and manufacturing.
The global eBook market is fragmented with numerous individual authors and publishers, while a few major players dominate the market. Some of the best eBook readers are provided by Amazon's KDP and Apple's iBooks Author, among others. To get a larger portion of the market, major businesses use techniques including joint ventures and partnerships with small and regional publications.
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 eBook units sold in the USA reached a value of US$ 191 Million.
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 the high penetration of smartphones and smart devices, high internet usage, and subscriptions have increased the market share of eBooks in North America.
Since the company entered the book market in 1995, Amazon has been the driving force behind massive changes that the publishing industry has faced over the last 30 years. One of the most significant contributions of Amazon is an explosion of self-publishing books:
The company is one of the pioneers in online bookselling, which has overtaken the market over the last decade. This trend had an enormous effect on the bookstores, which have been declining in popularity:
Amy Watson pulled together disparate reports in the public domain, and her December 2018 report suggested a market share of 19 per cent for ebooks. This aligns closely with our own off-the-record briefings from trade and academic publishers.
This app wants reading to be a social experience
23 November 2023 (Mashable)
Featuring thousands of book clubs and a personalized feed, Fable is an answer to those looking to share their reading experiences. Reading has become a social media-adjacent activity as much as it has always been an individual one.
Older Nook e-readers will not be able to buy ebooks anymore
15 November 2023 (Good E-Reader)
Barnes and Noble have announced that they are suspending the service of older Nook e-readers. Barnes and Noble want people to upgrade to newer Nook e-readers.
Harry Potter ebooks now available on Kobo Plus
9 November 2023 (Good E-Reader)
The beloved fantasy books will be available to Kobo Plus subscribers in English, Dutch and French starting November 8th. Dutch, Belgian and French booklovers can access Kobo Plus via the Kobo Books App for iOS or Android and directly on Kobo e-readers.
Class Action Lawsuit Alleges Use of Pirated Ebooks Tech Giants
26 October 2023 (Ticker)
The plaintiffs claim that Meta, Microsoft, and Bloomberg trained their LLMs using a dataset provided EleutherAI, which allegedly contained information scraped from around 183,000 pirated ebooks.
Six-Month Sentence For Sharing Pirated eBooks & Paywalled News Articles
28 June 2023 (TorrentFreak)
A man who shared copies of more than a thousand eBooks and articles obtained from a paywalled news site has been handed a six-month suspended sentence by a court in Denmark. Prosecutions for sharing paywalled articles are extremely rare but in this case supported by a laundry list of additional offenses including fraud and movie piracy.
Bookshop.org plans to enter eBook and audiobook market in the UK following 1.5m funding round
7 March 2023 (Retail Tech Innovation)
Bookshop.org, an online venture that aims to support independent bookshops, has completed a $1.8 million (1.5 million) angel fundraising round, which will be used to add audiobooks and eBooks to its UK platform.
Bookshop.org to sell ebooks
24 February 2023 (Books+Publishing)
The ebook program will launch in beta late this year, enabling users to buy and read ebooks in their web browser, prior to the launch of an ereader app that is also being developed.
More ebooks to go open access
16 February 2023 (Publishing Perspectives)
Berlin-based Knowledge Unlatched, a Wiley company, says that some 283 books will be made available, open-access, in 2023. By the end of this year, Knowledge Unlatched expects to have published some 4,000 books and about 6o journals open access.