E-Book Market Headed for Growth and Global Expansion by 2020
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High penetration of smartphones, rising global appetite for e-book content in both English and other regional languages, increasing internet usage, online translation of e-books into various languages, government initiative and supportive policies for smart education,a growing trend of Bring-Your-Own-Device (BYOD) concept, and free availability of various e-books and e-book reader appsare some of the factors driving the growth of the e-book market. Moreover, the market is expected to experience a significant growth owing to an increase in uptake of e-books in education and media &entertainment sector. However, factors such as lack of awareness among the audience regarding content of e-book and requirement of specific software or app are hampering the growth of this market to some extent.
The e-book market can be segmented into verticals and geography. By verticals, themarket can be divided into various categories such as educational institutes, media &entertainment and manufacturing. On the basis of geography, the e-book market can be segmented intoNorth America, Latin America, Western Europe, Asia-Pacific, Japan, Eastern Europe and Middle East & Africa.
The e-book market is the fastest growing market in global book publishing industry,which is expected to show a substantial growth in CAGR, from 2014 to 2020. Among all the regions, North America is the dominating region in the e-book market. Factors such as high penetration of smartphone and smart devices, high internet usage and subscriptions have increased the market share of e-books in North America, as compared to other emerging regions such as Asia-Pacific and Middle East & Africa.
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Some of the key participants in this market include McGraw-Hill, Wiley, Kensington Publishing Corp, Hachette, Cengage Learning, HarperCollins, Simon & Schuster, Macmillan Publishers, Penguin Random House and self-published e-books. Major players in the market focus on introducing advanced e-book software and solutions in order to meet consumer demand and enhance their market share.
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