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Global Online Book Services Market size was valued at US$ XX Bn in 2019 and the total revenue is expected to grow at 5.6 % through 2020 to 2026, reaching nearly US$ XX Bn.
The global Online Book Services market report is a comprehensive analysis of the industry, market, and key players. The report has covered the market by demand and supply-side by segments. The global Online Book Services report also provides trends by market segments, technology, and investment with a competitive landscape.
Definition of Online Book Services:
An electronic book, or an e-book, is a digital version of a book that includes both text and photographs. Electronic devices such as computers, tablets, and smartphones can easily read these books. The growing adoption of these smart devices is thought to be one of the major factors driving global e-book demand.
Global Online Book Services Market Dynamics:
Students who are tired of dragging around a backpack full of books and retirees who want to downsize their homes and live a minimalist life are all turning to online books, which have the most convenient reading experience. Various magazines, newspapers, television, radio, podcasts, and their associated websites will greatly improve their exposure and assist them in reaching their target audiences. Digitally savvy readers are more likely to pass on recommendations to others through blogs, social media, and other online platforms. This is often expected to result in a favorable business outlook over the forecast period. Despite the upbeat outlook, rising online piracy concerns are expected to stifle market growth in the coming years to some degree.
While e-book subscription services have been around for a while, they are currently gaining a lot of traction. Subscription services are well-known for providing customers with unlimited access to large, deep catalogs of content for a set monthly fee. Few players in the industry have succeeded in generating revenue from these models; for example, Amazon had over 2.5 million paying subscribers as of 2020, and Scribd, Inc. had 1 million paying subscribers.
Customers who can read in both English and their native tongue have a significant advantage in the industry. As a result, depending on the geography, there is a favorable effect on bulk e-book purchases. The global pandemic of COVID-19 has forced the closure of several bookstores around the world, resulting in a surge in eBook adoption.
Global Online Book Services Market Segmentation:
Based on the product, the online book services market is segmented into trade, education, science, and technology & medicine. With a market share of 70.01 % in 2019, the trade product segment dominated the market and is expected to expand significantly over the forecast period. This section covers a wide range of genres, from fiction, nonfiction, literature, and young children's books, to name a few. Increasing user interest in reading these books digitally is expected to drive segment growth in the coming years. Romance, mystery, horror, science fiction, and fantasy are among the most common genres among consumers, and their widespread availability on the internet is expected to drive segment growth in the coming years.
Global Online Book Services Market
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Global Online Book Services Market Regional Insights:
In 2019, North America dominated the global economy, accounting for 36.8 % of the total. The rise of mobile, tablet and e-reader users has increased online book sales and free eBook downloads. In the coming years, the market is expected to be driven by high internet penetration and a change in preference among tech-savvy users from conventional books to online books. Millennials (ages 18 to 29) are the most prolific e-book readers in the U.S., accounting for 34 % of all digital book readers.
Over the forecast era, Asia Pacific is expected to develop at the fastest rate of 7.3 %. One of the main factors driving the market growth is a shift in customer preference from print to digital books, as well as a significant rise in the penetration of smartphones and mobile platforms. In China, the market for online books is exploding, and young people are driving it.
Global Online Book Services Market 1
The objective of the report is to present a comprehensive analysis of the Global Online Book Services Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.
PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analysed, which will give a clear futuristic view of the industry to the decision-makers.
The report also helps in understanding the Global Online Book Services Market dynamics, structure by analyzing the market segments and project the global Online Book Services market size. Clear representation of competitive analysis of key players By Product, price, financial position, product portfolio, growth strategies, and regional presence in the Global Online Book Services Market make the report investor’s guide.
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Global Online Book Services Market Scope: Inquire before buying
Global Online Book Services Market 2
Global Online Book Services Market, by Region
• North America
• Europe
• Asia Pacific
• Middle East & Africa
• South America
Global Online Book Services Market Key Players
• Google
• Kobo
• Amazon.com, Inc.
• Apple, Inc.
• News Corporation
• Scribd, Inc.
• Lulu Press, Inc.
• Hachette Book Group
• Smashwords, Inc.
• Rakuten Kobo, Inc.
• Barnes & Noble, Inc.
• Blurb, Inc.
• Other Key Players
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