Compared to printed books, eBooks provide diverse benefits such as allowing readers to enjoy any number of books with just one device – tablet, smartphone or any other. Businesses create eBooks mainly to improve leads and help prospects make their purchase decisions. Statista report estimates that over 191 million e-books were sold in the United States in 2020. Professional eBook conversion services are available to transform eBooks into any desired electronic format that improves accessibility to readers.
According to the research report from Technavio, the global e-book market has the potential to grow by USD 6.93 billion during 2021-2025, and the market’s growth momentum will be at a CAGR of 7.25%. The year over year growth rate for 2021 is estimated at 6.04%. The benefits and reader engagement of eBooks is one of the key factors driving market growth during the forecast period.
Key factors that will drive the global eBook market growth are –
As countries across the globe have many native languages, the localization of content and online local language translations are gaining importance in the market. Publishers are making use of online translation of eBooks to improve the accessibility and distribution of books to wider target end-users and help them reduce costs along with improving content mobility.
With the increase in eBooks and e-readers across the world, books in diverse digital formats are now quite common. With advancements in the latest interactive technologies being integrated into eBooks, they are gaining popularity among the end-users. The array of interactive components being integrated into eBooks includes verbal interaction, AR (Augmented Reality), and gaming. These features, along with the traditional aspects of story plots and illustrations, are making eBooks popular among professionals, children, and others.
The report segments the market on the basis of product, platform usage, and geography. The product segment is further divided into consumer, professional, and educational eBooks. Consumer eBooks include adult fiction and other fiction genres, and are mainly bought by individual end-users. The growth of the consumer eBooks market segment is predicted to be significant during the forecast period. The report recommends that e-book market vendors focus on grabbing business opportunities from the consumer eBook segment, as it accounted for the largest market share in the base year. The platforms used to read eBooks include smartphones, tablets, and others.
The report also highlights the growth of the market across North America, Europe, APAC, South America, and MEA. 45% of the market’s growth will originate from North America during the forecast period. The US and Canada are the key markets for e-books in North America. Market growth in this region is expected to be faster than that in MEA. It is predicted that government initiatives will facilitate market growth in North America.
Some of the major e-book market vendors discussed in the report are
This research report also provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Readers can access any eBook from anywhere. But not all formats work on all devices. There are many eBook formats such as PDF, PDB, RTF, HTML, MOBI, FB2, EPUB, TXT, Plain text, Doc, LIT, and more. In such cases, users may have to use eBook conversion tools to make the conversion process easier and improve the reading experience. The service of experienced eBook conversion companies would become increasingly significant to scan and digitize printed books to e-books, or to convert e-books from one electronic format to other.