Press release
Surge In Internet Users Driving Growth In The Online Book Services Market: Critical Driver Shaping the Online Book Services Market in 2025
Online Book Services
How Large Will the Online Book Services Market Size By 2025?
The scale of the online book services market has substantially expanded in the past few years. It is predicted to progress from a worth of $23.1 billion in 2024 to $24.73 billion in 2025, with a compound annual growth rate (CAGR) of 7.1%. The substantial growth observed in the historical period is due to factors such as the proliferation of Internet connectivity, shifting consumer tastes, the worldwide surge in e-commerce activity, as well as the convenience and availability of online book services, and the emergence of e-reading gadgets.
How Big Is the Online Book Services Market Size Expected to Grow by 2029?
The market size for online book services is projected to experience robust growth in the upcoming years, reaching $34.92 billion in 2029 with a Compound Annual Growth Rate (CAGR) of 9.0%. This predicted growth in the forecast period can be credited to the widespread adoption of mobile devices, subscription strategies, and reading platforms, global expansion of book markets, and increased environmental consciousness. The forecast period will likely see significant trends such as collaborations with authors and publishers, emphasis on accessibility and inclusivity, game-based reading experiences, incorporation of technologies like Virtual Reality (VR) and Augmented Reality (AR), and steps towards environmental sustainability.
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Which Key Market Drivers Powering Online Book Services Market Expansion and Growth?
The rise in internet users is anticipated to accelerate the expansion of the online book services market. An internet user refers to a person who can connect to and use the internet. The growth of the online book services market is significantly impacted by the rising number of internet users, as the broadening user base demands digital books and e-reading platforms for easy access to a wide selection of literature. For example, the International Telecommunication Union, a specialized agency based in Switzerland, reported in February 2024 that internet users had jumped from 5.1 billion in 2022 to 5.4 billion in 2023. Consequently, the increasing number of internet users is propelling the growth of the online book services market.
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Which Fast-Growing Trends Are Poised to Disrupt the Online Book Services Market?
Prominent firms in the online book services sector are employing a strategic alliance strategy to supply students globally pursuing advanced studies with access to digital books. Strategic alliances involve companies capitalizing on each other's strengths and resources for mutual benefit and victory. For example, in May 2023, Wiley, a publishing firm based in the US, formed an alliance with Perlego, a UK-based e-learning service provider. In this alliance, Perlego is set to facilitate student access to an extensive selection of Wiley's digital titles on its platform. The range includes textbooks as well as trade and professional book titles from Wiley. By subscribing to Perlego, students gain unlimited access to over a million ebooks, incorporating those from Wiley and various other publishers, thus enriching their educational resources and academic material.
What Are the Emerging Segments in the Online Book Services Market?
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
Subsegments:
1) By Education: Textbooks (K-12 And Higher Education), E-Learning Materials And Resources, Study Guides And Reference Books
2) By Trade: Fiction (Novels, Short Stories), Non-Fiction (Biographies, Self-Help, Business), Literary Works And Anthologies
3) By Science: Academic And Research Publications, Scientific Journals And Articles, Popular Science Books
4) By Technology: Computer Science And IT Books, Engineering And Technical Manuals, Software Development And Programming Guides
5) By Medicine: Medical Textbooks And Reference Books, Clinical Guidelines And Protocols, Patient Care And Health Education Materials
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Who Are the Global Leaders in the Online Book Services Market?
Major companies operating in the online book services market include Walmart Inc., Amazon.com Inc., Apple Inc., Google LLC, Bertelsmann SE & Co KGaA, Penguin Random House LLC, Pearson plc, Hachette Book Group (Lagardère SCA), Follett 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., Blurb Inc., BookBaby Lulu Press Inc., Kobo Inc., Waterstones Booksellers Limited, Ingram Holdings Inc.
Which are the Top Profitable Regional Markets for the Online Book Services Industry?
North America was the largest region in the online book services market share in 2024. The regions covered in the online book services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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