Press release
Online Book Services Market Future Scope, Analysis, Size, Share, Trends, Growth Rate, Report 2024-2033
Online Book Services Market Analysis
The Business Research Company offers in-depth market insights through Online Book Services Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The online book services market size has grown strongly in recent years. It will grow from $21.78 billion in 2023 to $23.41 billion in 2024 at a compound annual growth rate (CAGR) of 7.5%. The growth in the historic period can be attributed to Internet accessibility expansion, changing consumer preferences, global e-commerce boom, convenience and accessibility, rise of e-reading devices.
The online book services market size is expected to see strong growth in the next few years. It will grow to $32.01 billion in 2028 at a compound annual growth rate (CAGR) of 8.1%. The growth in the forecast period can be attributed to proliferation of mobile devices, subscription models and reading platforms, globalization of book markets, environmental awareness. Major trends in the forecast period include collaborations with authors and publishers, focus on accessibility and inclusivity, gamification of reading, integration of virtual reality (VR) and augmented reality (AR), environmental sustainability initiatives.
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Market Segmentation:
The online book services market covered in this report is segmented -
1) By Products: Education, Trade, Science, Technology, Medicine
2) By Application: Household, Institutional
3) By End User: Teenagers, Adults
Major Driver - Surge In Internet Users Driving Growth In The Online Book Services Market
The growing internet user base is expected to boost the growth of the online book services market going forward. An internet user is an individual with the capability to access and utilize the internet. The online book services market experiences substantial growth with the increasing number of internet users, as the expanding audience seeks digital books and e-reading platforms for convenient access to a diverse range of literature. For instance, in November 2022, according to a report published by the International Telecommunication Union, a Switzerland-based specialized agency, an estimated 5.3 billion people, accounting for 66 percent of the global population, will use the Internet. This reflects a 6.1 percent growth rate in 2021. Therefore, the growing number of internet users is driving the growth of the online book services market.
Competitive Landscape:
Major companies operating in the online book services market report are Walmart Inc., Amazon.com Inc., Apple Inc., Google LLC, Reliance Industries Limited, Tencent Holdings Limited, Bertelsmann SE & Co KGaA, ViacomCBS Inc., Penguin Random House LLC, Pearson plc, Hachette Book Group (Lagardère SCA), Follet Corporation, HarperCollins Publishers LLC, John Wiley & Sons Inc., News Corporation (HarperCollins Publishers LLC), Barnes & Noble Inc., Simon & Schuster Inc., Macmillan Publishers Ltd., Scholastic Corporation, Smashwords Inc., Scribd Inc., ThriftBooks Inc., Powell's Books Inc., Elliott Management Corporation, Blurb Inc., BookBaby Lulu Press Inc., Kobo Inc., Waterstones Booksellers Limited, Ingram Holdings Inc.
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Top Trend - Innovative Solutions For Organizational Book Distribution
Major companies operating in the online book services market are developing innovative products, such as e-bookshelves, to meet larger customer bases, increase sales, and increase revenue. An e-bookshelf refers to a virtual space or platform where individuals can store, organize, and access their collection of electronic books or e-books. For instance, in April 2023, Amazon, a US-based e-commerce company, launched Your Company Bookshelf. The unique feature of Your Company Bookshelf lies in its streamlined approach for U.S. organizations to procure and disseminate books. Organizations have the flexibility to curate a bookshelf, set budgets, and invite recipients to select books. Recipients can choose their preferred format, including Kindle eBooks, paperbacks, or hardcovers. Your company bookshelf enables customization for specific purposes, such as professional development, training facilitation, or supporting diversity, equity, and inclusion programs. The platform leverages the vast selection of millions of print books and Kindle eBooks available on Amazon, offering a tailored and versatile solution for organizational book distribution.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Online Book Services Market Characteristics
3. Online Book Services Market Trends And Strategies
4. Online Book Services Market - Macro Economic Scenario
5. Online Book Services Market Size And Growth
…..
27. Online Book Services Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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