eBook Market Set to Top $16 Billion By 2020 and Continue Growing
The growth in eBook sales, proliferation of eBook reading devices and the increasing popularity of reading eBooks in the Chinese and Indian markets will drive eBook sales to top $16 billion by 2020.
BOSTON, U.S. November 11th, 2014 / Strategy Analytics’ ‘Global eBooks Market Forecast 2001-2020’ predicts that the global consumer eBook market will more than double from $7Bn in 2013 to $16.7Bn in 2020, driven by more consumers accepting e-reading, more content made available through different business models, and the accelerating growth of emerging markets, especially China.
Globally, more consumers of all ages are now including eBooks as a part of their reading behavior.
‘A clear trend in recent years has been the shift of e-reading from desktop computers to mobile, in particular to reading on smartphones and tablets. At the same time, more readers are choosing multi-purpose tablets over dedicated e-readers as their primary eBook reading device,’ said David MacQueen Executive Director, Apps and Media. ‘
All in all, we expect eBook reading penetration to increase from less than 10 percent of the total population in 2013 to close to 25 percent in 2020. China, the biggest smartphone market in the world, has just begun to see accelerated growth in the eBook market. We are seeing China join the traditionally big book markets in the US, Japan, Germany and the UK to form the ‘billion dollar club’ in 2020.’
‘From the content perspective, more publishers are releasing books simultaneously in digital format and print format. Meanwhile, an increasing number of new and established authors are opting for digital self-publishing only, made possible by eBook service platforms, which brings them closer to the readers,’ said Wei Shi, Analyst of Wireless Media Strategies (WMS). ‘
Another nascent but significant development in the eBook market is the subscription based services launched by more platforms, including Amazon. In essence this is similar to how Spotify and Pandora have evolved the digital music market beyond downloads. We expect to see subscription service gaining more momentum in the second half of this decade, and contributing to close to a fifth of the total market by 2020.’
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