Market Trends of E-book Industry
Increased Use of Electronic Devices
- The rise in the number of portable, readable devices, such as smartphones and tablets, is anticipated to be the primary growth factor for the global e-book market. Consumers prefer e-books over physical books due to the fragility of hard copies, the need for adequate care, and the high cost.
- The digitization of books and their accessibility over the internet are expected to create an innovative environment to offer a real-time experience for readers. Furthermore, the conversion of comic books into digital materials by famous publishers, such as Marvel and DC, is also expected to allow people to explore e-reading. The American Library Association (ALA) announced that every book of their rooster would be made available in a digital format at the latest to reduce wastage.
- The increasing influence of technology coupled with the inclination toward digitization by a substantial populace, mainly among the millennial and generation Z category, may positively influence the growth of the e-book market.
- Systems, such as digital education and immersive learning, are also expected to drive market growth. The introduction of the latest hardware, software, and educational content is expected to create an immersive environment to provide readers with a real-time experience.
- This also acts as a low-cost alternative to the traditional distribution method and enables easy access to various e-book libraries through applications or services. In addition, the resources available for the e-books, such as lending electronically, have also increased the growth of the e-book market.
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North America Dominates the Market
- E-books in North America came early as a natural and permanent choice over printed books for consumers as they wanted speedy access and portability. Publishers have also rapidly responded to the consumers' fast-growing acceptance of new reading devices by constantly redefining and expanding new concepts of books.
- Additionally, the holiday season observes an increase in the number of people who own tablet computers and e-book readers like the early Kindles. The improving content mobility has led to cost-cutting through better accessibility and distribution of books to wider target end-users. Further, since the region's industry is expected to be driven by the rising demand for digitalized comic books, comic book companies, like DC Entertainment and MARVEL, are expanding their product lines to keep up with the trend.
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