High demand was seen on the electronic publishing platform due to the foreclosure situation and less preference for conventional physical book or journals. The availability of internet and IoT devices has contributed to the overall application of the market.
Market Size – $ 25.37 Billion in 2019, Market Growth – 8.4% CAGR, Market Trends – Increasing demand for e-books in education and research for vertical end use
The Global Electronic publishing market is expected to reach $ 48.90 billion by 2027, according to a new report from Reports and Data. The global electronic publishing market is growing primarily as readers and authors of books, newspapers and magazines have long enjoyed electronic media for content consumption and have deliberately started using them due to the global lockdown caused by the pandemic. of COVID-19. The online presence of newspaper and newspaper companies has helped them retain their valued readers. In addition, authors and book publishers facing significant constraints when publishing physical books can gain customers by using the e-book platforms. Advances in electronic reading devices, print-on-demand (POD) and e-ink efficiency are some of the secondary factors playing an important role in driving market forces. In addition, a growing digital learning platform is the key ingredient in the inclination towards e-book services, as a significant number of customers who have entered the e-learning platform adopt now e-book services replacing conventional physical books.
Leading global players who once invested heavily in the e-book platform are now surpassing many traditional book publishing companies. Amazon, Apple, Google, which are among the largest consumer base with direct interaction, have increasingly observed the demand for more and more books of all genres which already have a large user base, are in great demand to have presence as an e-book. On top of that, these companies have made room for new authors to publish their books and gain a premium customer base to compete with traditional publishers.
The impact of COVID-19: The COVID-19 pandemic has directly affected the offline book and book retail industries. In the global foreclosure scenario, many book publishers that deal in printing and selling physical books have faced restrictions in both ways of printing and selling your books. The same situation was followed in newspaper companies during the epidemic.
Major participants include Amazon, Google LLC, Apple, Inc., Pearson Education, Lulu Publishing, Barnes & Noble Booksellers, Inc., Rakuten Kobo Inc., The Wall Street Journal, The New York Times Company and Scribd, Inc., among others.
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Other key findings from the report suggest
- On April 23, 2020, Highsense Infotech., A Chinese multinational consumer electronics manufacturer, is set to launch the world’s first color electronic ink device. The E-ink device is certainly the most practical device for reading electronic books or electronic magazines. E-ink for its obvious features such as less eye strain and extra long battery life compared to any other mobile device, is the subject of extensive research and innovation to deliberately replace conventional books and e-book reading on tablets or mobile phones.
- The main goal of tablets is to offer a bigger screen and portability at the same time. Most of the tablet users have opted for this type of mobile device to consume media on a larger screen as compared to mobile phones. Now that tablets are increasingly affordable and the availability of the most eye-friendly display technologies, such as OrganicLED (OLED) and IPS (In-Panel Switching) LCDs in tablets, has increased dramatically. the number of users of e-books and e-magazines.
- The fictional genre of e-books and e-magazines has been all the rage and increased with a CAGR of 8.4% over the forecast period as many new age writers have started to focus on the science fiction. Science fiction allows us to imagine fighting and spending all the impossibilities we face, and it’s no wonder that in the modern age of technological advancement, all of these high-tech fictions have been of major interest to us. adolescents and adults.
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For the purpose of this report, reports and data have segmented the global electronic publishing market on the basis of genre, business model, type, end-use verticals and region:
Genre Outlook (Revenue: billion USD; 2017-2027)
- Suspense & Thriller
- Personal interview and motivation
Business Model Outlook (Revenue: USD Billion; 2017-2027)
- Periodic subscription
- Pay per reading
- Pay per copy
Type Outlook (Revenue: Billions USD; 2017-2027)
- Electronic books
End-Use Vertical Market Outlook (Revenue: USD Billion; 2017-2027)
- Common individuals
- Education and research
- Commercial research
- Press reference
Regional Outlook (Revenue: USD billion; 2017-2027)
- North America
- Asia Pacific
- Latin America
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ultimately, all aspects of the Electronic Publishing market are quantitatively and qualitatively assessed to study the global and regional market comparatively. This market research presents critical information and factual data about the market, providing an overall statistical study of this market on the basis of market drivers, its limitations, and future prospects.
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