E-Reader Market Overview
The E-reader market in 2020 is expected to increase at a significant rate of 6.1 percent between 2019 and 2024 (analysis period), according to MRFR (Market Research Future). According to MRFR, the market value will be USD 12.33 billion by the end of 2024. 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.
Impact of COVID-19 on the E-Reader Market
Following the global economic impact of COVID-19, telecom corporations have been forced to postpone their 5G plans, even as the epidemic continues to spread at an uncontrollable rate. The novel coronavirus is expected to harm the planned commercialization of 5G technology as well as revenue generation soon. The pandemic has prompted telecom vendors to assess their network's resiliency and re-prioritize their investments, particularly in 5G technology. These considerations have had a negative influence on the e-reader market, which has slowed its growth significantly.
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On the plus side, businesses all around the world have adopted the work-from-home approach in response to the increased focus on ensuring business continuity in the face of escalating SARS-CoV-2 and the stringent lockdown in place. With a rising number of people working from home or being confined to their homes, internet video downloading, viewing, and communicating via video conferencing is becoming more popular. Following the discovery of the novel coronavirus, network traffic and data usage have increased significantly. Following the COVID-19 outbreak, growing internet use and reliance on smartphones and other devices has been highly advantageous for the e-reader sector and might promise significant growth in the next 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.
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.
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 for 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.
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.
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