NEW YORK, September 15, 2022 (GLOBE NEWSWIRE) – Reportlinker.com announces the release of “Global Online Book Services 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 grow to $24.85 billion in 2026 with a compound annual growth rate (CAGR) of 5.52%.
The online book services market consists of sales of online book services by entities (institutions, sole traders, partnerships) that are used to allow users to read on an electronic device such as a computer or mobile device. They are also called e-books or e-books and can be read easily.
Online book services contain a digital file with a set of text 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 like Amazon’s Kindle, Good Reads, Bookbub, and Scribd.
The main types of products in the online book services market are education, commerce, science and technology, and medicine. Online educational books are designed to assist students with workshops and assignments.
Online book services are mainly used by teenagers and adults.
North America was the largest region in Online Book Services market in 2021. The regions covered in the Online Book Services market report are Asia Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Online Book Services Market Research Report is one of a series of new reports that provide Online Book Services market statistics, including global market size of online book services industry, regional shares, competitors with online book services market share, market segments Detailed online book services, market trends, opportunities and any other data you may need to thrive in the online book services industry. This Online Book Services Market Research Report offers a complete perspective on everything you need, with an in-depth analysis of the current and future scenario of the industry.
The changing consumer preference for reading books online is driving the growth of the online book services market, and the change in consumer preference towards online book is attributed to the lower subscription cost compared to purchasing all the required books offline, as well as ease of access, ease of reading compared to traditional books.
Another reason that has changed consumer preference for reading books online is the global pandemic that has closed most book stores across the world, and this change in preference has pushed readers significantly towards consuming easily readable e-books.
For example, in May 2020, Rakuten Kobo, a Canada-based e-book company, revealed that more than 2 million new users had signed up for Kobo during the pandemic, and e-book adoption was driven by the global pandemic and the shutdown of most users. Libraries around the world indicate a change in consumer preference towards reading books online which has led to the adoption of e-books.
Therefore, the changing consumer preference for reading books online will lead to the growth of the online book services market.
Strategic partnership is a major trend in the online book services market, where companies collaborate with e-book sellers and distributors to expand their services into new markets by leveraging each other’s resources and expertise.
These partnerships are also made to introduce e-books into new areas such as public libraries to provide products 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 has partnered with Booktopia, Australia’s leading online bookstore. The partnership aims to bring a comprehensive range of digital reading including e-books, audiobooks and e-readers to Booktopia consumers in Australia by making Rakuten Kobo Booktopia the exclusive digital reading partner of Rakuten Kobo Booktopia. Additionally, in March 2019, OverDrive Inc, a digital distributor of e-books, audiobooks, music and video, partnered with Libreka, a Germany-based e-book collection and distribution platform. The partnership aims to make OverDrive’s production line of digital e-books and 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 an e-book portfolio to Medium’s offerings and helps partner with publishers to help authors access more of readers with an increase in its current readership.
Glose is a French e-book company based on social media.
Countries covered in Online Book Services Market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA.
Read the full report: https://www.reportlinker.com/p06318534/?utm_source=GNW
ReportLinker is an award winning market research solution. Reportlinker finds and organizes the latest industry data so you have all the market research you need – instantly, in one place.