Market Overview
E-reader market 2020 can project substantial growth at a rate of 6.1% between 2019 and 2024 (analysis period), evaluates MRFR (Market Research Future). MRFR also expects the market value by 2024-end to be USD 12.33 billion. We will provide COVID-19 impact analysis with the report, along with all the extensive key developments in the market post the coronavirus disease outbreak.
COVID-19 Impact on the E-Reader Market
Following the COVID-19 impact on the global economy, telecom companies have had to face delays in their 5 G-related plans, even as the pandemic has been escalating at an uncontrollable pace. The novel coronavirus is projected to negatively affect the planned commercialization of the 5G technology as well as the anticipated revenue generation soon. The pandemic has prompted the telecom vendors to analyze the resiliency of their network and re-plan their investments, particularly in the 5G technology. These factors have been leaving a negative impact on the e-reader market, deterring its growth to a large extent.
On the bright side, with the rising focus on ensuring business continuity in the face of rising SARS-CoV-2 and the strict lockdown in place, businesses across the world have adopted the work from home model. The expanding population currently working from home or generally restricted at home are increasingly indulging in online video downloading, viewing, and interacting via video conferencing. These developments following the novel coronavirus have caused a significant increase in network traffic as well as data usage. The rising internet use and increased dependence on smartphones and other devices post the COVID-19 outbreak, have been quite favorable for the e-reader market and could ensure significant progress in the following years as well.
Top Boosters and Restraints
The e-reader market has exhibited significant performance over the past few years, given the surging availability of free or lower-priced e-books combined with the growing preference of the tech-savvy population towards portable electronic reading devices over the traditional ones. The provision of conveniently reading and managing a purchased e-book in the cloud has been a major highlight in the global market, with the growing use of smartphones, phablets and tablets touted to be another key growth booster. Another growth-enhancing factor in the e-readers market has been the expanding population of business professionals that strives to achieve a better reading experience. Sensing the underlying opportunity, marketers are increasingly targeting this segment to boost their sales and bolster brand awareness.
The battery technology has been subjected to several innovations, with the high focus on expanding its longevity, which has been encouraging e-reader use. Another technical development has been the emergence of improved display technologies, which have played a pivotal role in capturing the attention of a greater number of e-readers. The e-reader market growth spurt has also been the result of its potential of being the next-generation system in the education sector. The education sector’s rising preference for connected devices as well as digital education has been a major game-changer for the e-reader market, especially as digitization has boosted the e-learning aspect, taking the students’ learning experience to another level. This scenario is being viewed as an attractive business opportunity by e-book reader manufacturers.
The spike in environment protection campaigns backed by governments around the globe, particularly to save trees and bring down paper use, has also amplified the demand for e-books. Besides, prominent companies are adopting strategies such as partnerships and joint-ventures with small publishers to seize a higher market position. To cite an instance, in May 2020 - Katha, an organization specializing in children’s books in India, entered a partnership with Kindle, making available their 15 books on the digital platform. With imaginative visuals and engaging narrations, these books will now appeal to children even more with the use of digital tools and devices.
Market Segmentation
The E-reader industry can be considered depending on screen size and distribution channel.
The various screen sizes discussed in the report are below 6 inches, 6 to 8 inches, 8 to 10 inches, and above 10 inches.
The distribution channels covered in the market study are store-based as well as non-store-based. Store-based segments are specialty stores, supermarkets and hypermarkets, and more.
Regional Analysis
The e-reader market has been studied concerning four regions, namely Europe, Asia Pacific or APAC, North America, and RoW/the rest of the world.
Fuelled by the significant demand for e-reader in the United States/US, North America is set to emerge as the most lucrative market. Substantial disposable income along with the huge pool of early adopters in the region is responsible for North America’s eminence in the global market. Spike in the use of tablets and e-book reading devices including Kindle, especially during gift-giving seasons has also boosted the market size. The region notes considerable demand for digitalized comic books, owing to which major publishers such as MARVEL and DC Entertainment continuously expand their portfolio to remain competitive.
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APAC’s growth is expected to be at the highest rate over the forecast period, primarily due to the surging internet use among the youth and the increase in disposable income across India and China. Mounting awareness about diverse experiences boosting features of e-reader and increased consumption of online content in the educational curriculum will also favor the regional market.
Renowned Industry Players
Some of the highly renowned industry players include Bookeen (France), Aluratek Inc. (US), Rakuten Kobo, Inc. (Canada), Amazon.com, Inc. (the US), Sony Corporation (Japan), Arta Tech (Poland), Onyx International Inc. (China), Ematic (US), News Corporation (US), PocketBook International SA (Switzerland), FlexEnable Ltd (UK), ECTACO Inc. (US), Wexler Flex (US), Hanvon Technology Co. Ltd. (China), Barnes & Noble, Inc. (the US), and more.
NOTE: Our Team of Researchers are Studying Covid19 and its Impact on Various Industry Verticals and wherever required we will be considering Covid19 Footprints for Better Analysis of Market and Industries. Cordially get in Touch for More Details.
