U.K. Books and E-Books Market Anticipated to Gain Sustained Growth and Demand for Audio books Favoring Growth
With an extensive forecast to 2023, the research aims to provide vital information regarding the future trends and upcoming opportunities in the market. Initially, the market overview section offers analysis of books and e-books market covering behaviors, preferences and habits of the consumer. Moreover, the report provides insights into market perspective, issues, hidden opportunities in the market and competitive threats.
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Major Insights from the Study
According to the research evaluations, book market anticipated to remain steady in 2018, and E-book market estimated to grow by 2% in 2018. It has been well-identified that the rise in eBook sales, and even free eBook downloads, is a direct result of the increase in smartphone, tablet and e-reader users. The excitement of the print revival has died down slightly with print growth stalling in 2017 and 2018, the report adds. With a prime focus on U.K. consumers, the study has found that half of people buy print books, while half of the people read 2-9 books a year. The demand for e-books has grown significantly, because E-books are all books readable on dedicated e-reader devices like the Amazon Kindle, or via smartphone or tablet applications. In this scenario, the research study believes that subscriptions are playing an important role for digital books, displays have encouraged one in four consumers to make a purchase and people spend more time browsing for book in bookstores than online which is a major factor for market growth.
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Moreover, the research also found that the most stimulating sector of the book market currently is audiobooks; with the format likely to receive a boost from the growing popularity of voice-controlled smart speakers. Considering the growing demand, more audiobook options are being introduced to take on Audible and even Audiobooks.com launches in the UK. Many people enjoy listening to audiobooks with others. Some of the major market drivers identified in the study cover Waterstones sold to hedge fund, but remains under fire for unbranded stores, the number of independent stores increases for the first time in 20 years, Libraries continue to close at a significant rate and EU yet to reduce VAT on e-books. This smart research study further also provides overviews of the top brands and manufacturers, and uses consumer research to explore attitudes and reactions to brands. It has been analyzed that Hachette has strong e-book year, Spotify signs deal with Bloomsbury for Audiobooks; and Google adds audiobooks to Play Books.
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