The major players in the online book services market are Amazon. com, Apple, Barnes & Noble, Kobo Inc, Google, Smashwords, Hachette Book Group, Lulu Press, Scribd Inc, News Corporation (HarperCollins Publishers LLC) and Blurb Inc (Reischling Press Inc).
New York, Sept. 15, 2022 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the “Online Book Services Global Market Report 2022” – https://www.reportlinker.com/p06318534/?utm_source=GNW
The global online book services market is expected to grow from $19.00 billion in 2021 to $20.05 billion in 2022 at a compound annual growth rate (CAGR) of 5.51%. The online book services market is expected to reach $24.85 billion in 2026 at a compound annual growth rate (CAGR) of 5.52%.
The online book services market includes sales of online book services by entities (organizations, independent merchants, and partnerships) that are used to enable users to read on an electronic device such as a computer or portable device. Books available online or on the Internet are also called electronic books or e-books and are easily readable.
Online book services contain a digital file with a body of texts and images and display them on a screen such as a smartphone or laptop like a printed book. Online book services are available based on subscriptions to apps such as Amazon’s Kindle, Good Reads, Bookbub and Scribd.
The major product types in the online book service market are education, commerce, science, technology, and medicine. Online educational books are designed to help students with their workshops and homework.
Online book services are mainly used by teenagers and adults.
North America was the largest region in the Online Book Services Market in 2021. Regions covered in the Online Book Services Market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East and Africa.
The Online Book Services Market research report is part of a series of new reports that provide statistics on the Online Book Services market, including the global market size of the Services industry Online Book Services, regional shares, competitors holding Online Book Services market share, detailed segments of the Online Book Services market. , market trends and opportunities, and any other data you may need to thrive in the online book services industry. This Online Book Services Market research report provides a comprehensive perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
Changing consumer preference towards reading books online is driving the growth of the online book service market. The shift in consumer preference for books online is due to the lower cost of subscription compared to purchasing all required books offline, as well as the ease of access and convenience of reading compared to traditional books.
The other reason that has changed consumer preference for reading books online is the global pandemic which has led to the closure of most bookstores across the globe. This shift in preference is driving readers significantly towards consuming readily available and readable e-books.
For example, in May 2020, Rakuten Kobo, an e-book company based in Canada, revealed that over 2 million new users subscribed to Kobo during the pandemic. This adoption of e-books has been driven by the global pandemic and the closure of most bookstores across the globe indicating the shift in consumer preference towards reading books online and driving the adoption of e-books.
Therefore, changing consumer preferences towards online book reading will drive the growth of the online book service market.
Strategic partnership is a key trend in the online book services market. Companies are partnering with e-book sellers and distributors to expand their services into new markets by leveraging each other’s resources and expertise.
These partnerships also aim to introduce e-books to new areas such as public libraries to create product availability in most places and increase revenue. For example, in March 2020, Rakuten Kobo Inc., a Canada-based company that sells e-books, audiobooks, and e-readers, partnered with Booktopia, Australia’s leading online bookseller. The partnership aims to bring a comprehensive digital reading collection including e-books, audiobooks and e-readers to Booktopia consumers in Australia by establishing Rakuten Kobo Booktopia as the exclusive digital reading partner. Additionally, in March 2019, OverDrive Inc, an American digital distributor of e-books, audiobooks, music, and videos, partnered with Libreka, a Germany-based platform for collecting and distributing e-books. The partnership aims to make OverDrive’s range of e-books and digital audiobooks available in public libraries in Germany, Austria and Switzerland.
In January 2021, Medium, a US-based online publishing platform, acquired Glose, for an undisclosed amount. This acquisition added a portfolio of e-books to Medium’s offering and helps partner with publishers to help authors reach more readers while growing their current readership.
Glose is a French social ebook company.
The countries covered in the Online Book Services market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea South, the United Kingdom and the United States.
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