The size of the global eBook sector was estimated to exceed $18.13 billion in 2020 and, despite the shut down of a leading publisher Scribe Media, is expected to reach $28.73 billion by 2026. Here we provide a current industry analysis of the global eBook sector and what eBook authors can expect it to look like beyond 2025.
eBooks are electronic books or digital books that contain content in the form of texts, images, and tabular forms. They are published electronically and are read on all sorts of electronic devices including smartphones, eReaders and tablets. Currently, it is North America that dominates the global eBook sector as eBooks became a natural and permanent choice over printed books for U.S. consumers who want quick and easy access, and portability of course. Yet, that is not to say the global eBook sector is not a competitive landscape.
What the Global eBook Sector is expected to look like between now and 2025?
Analyzing the global eBook market by region, experts predict high growth rates in regions like China, India and Australia, they predict a mild growth rate in well-established eBook markets such as North America, and they also predict a lowered growth rate in eBook markets in African and South American countries. The annual growth rate of the global eBook sector is expected to average out at around 3.18% every year resulting in projected market value of $28.73 billion by 2026, increasing from $18.13 billion in 2020.
All around the world, eBooks are experiencing a stronger presence as electronic tablets join the ranks of the E-reading landscape and eBooks and Ereaders increasingly become part of classroom and other educational settings, including public libraries. The demand for eBooks is predicted to rise steadily in most regions around the globe, which as it turns out, bodes very well for authors looking to publish their work as eBooks, no matter the genre.
What is driving this expected growth in the Global Ebook Sector?
The increasing reach and convenience offered by eBooks is gradually expected to replace traditional reading methods and significantly impact the print book market. The growing demand for eBooks was spurred on by a multitude of factors, including their accessibility, their portability and their convenience with regards to both purchase and use. But it does not stop there.
eBook platforms have a wider selection of eBooks than any bookstore can possibly offer their customers. No need to wait for book orders to arrive or even make the trip to the store. The beauty behind eBooks is in their convenience, in how they are purchased and their accessibility anytime, anywhere someone feels like catching up on their favorite book. eBooks are quickly becoming the low-cost alternative to the traditional route for readers, authors, and even educational institutions.
It is thus no surprise that libraries, publishers and even education institutions have received countless pleas for eBooks. Libraries all of the world have started and continue to offer electronic reading material for their readers, and because eBooks usually cost less in comparison to the price of printed books, libraries are able to purchase more copies of a particular eBook. eBooks are also becoming an extremely popular choice in classrooms, other academic settings, digital learning environments and interactive learning styles, which also adds their growing demand and the growth of the global Ebooks sector.
Another factor driving the increasing size of the global eBook sector is the rise of environmental concerns and protection campaigns from governments and organizations all over the world to reduce the amount of trees being cut down for paper manufacturing, which is also expected to further drive up the demand for Ebooks well over the next five years.
How will the rise of the eBook sector affect the publishing industry?
The growing popularity of eBooks among individuals and within educational institutions will no doubt affect the publishing industry. Due to the lower production costs associated with eBooks and the fact that authors are able to gain higher margins through eBooks sales, more and more authors are opting for the self-publishing route instead of the traditional route.
Authors who self-publish can earn better margins from the sale of eBooks in comparison to printed books, and with more and more people deciding to buy eBooks instead of printed books to satisfy their reading needs, self-published authors can do very well financially if they decide to follow the Ebook route.
With the rising popularity of eBooks and the expected growth of the global eBook sector, self-publishing is looking like a very attractive and less expensive alternative to traditional publishing, especially for eBook authors.
The global eBook Sector beyond 2025 looks promising
The growing size of the global eBooks sector and the expected growth within the sector is not entirely surprising if we consider the rise of the smartphone culture, the cost of and easy access to eBooks, and the multilingual features of eBooks, all of which are major driving factors in the current global demand for eBooks in comparison to printed books.
With the size of the global eBook sector valuing at over $18.13 billion in 2020 and considering current trends in the market, it is no wonder experts are predicting the global eBook sector to reach $28.73 billion by 2026, which is a very good sign especially for self-publishing authors interesting in publishing their work as an eBook.
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