Research Support Specialist, USA
The global eBooks market size is expected to reach USD 20.93 billion by 2028, according to a new report by Million Insights. The market is expected to register a CAGR of 3.0% from 2021 to 2028 due to the factors, such as localization of content, more interactive & attractive eBooks, availability of high-speed data networks, and increasing adoption of smartphones with advanced functionalities. In addition, the rising per capita income levels and increasing purchasing power are further supporting the market growth.
The professional and educational segment accounted for the largest revenue share of more than 61% in 2020. eBooks, such as business money, arts & photography, engineering & technology, health, fitness, sports, computers, and travel, are included in this category. Professional eBooks are helpful in decision-making, empowering literacy thinking, etc. The education sector has started adopting technology and digital platform. Prices of eBooks are lesser compared to printed books. Thus, students prefer eBooks over printed ones.
The smartphones device segment is estimated to register the fastest CAGR from 2021 to 2028 on account of the increasing adoption of smartphone devices across various countries. Compared to other devices, smartphones are easy to carry and customer-friendly, thus enabling easy access to eBooks on mobile apps. Mobile apps offer functionalities, such as font size adjustments, easy distribution & purchase, and backup & storage. Thus, the smartphone devices segment is expected to contribute to the growth of the market.
North America held the largest revenue share in 2020 and will retain the position throughout the forecast period. The U.S. is positively contributing to the growth of the regional market. In North America, eBooks are the convenient choice compared to printed books due to the benefits, such as portability and quick access. North America is one of the promising regions due to the launch of new technologies, in terms of infrastructure and advanced network technology, and quick adoption of the same, which allow product distribution in the fastest way. In addition, supportive digital policies by the local governments are positively contributing to the market growth.
The report “eBooks Market Size, Share & Trends Analysis Report By Product (Consumer, Professional & Educational), By Device (Smartphones, Tablets & eReaders), By Region (APAC, Europe, North America), And Segment Forecasts, 2021 - 2028” is available now to Million Insights
Million Insights has segmented the global eBooks market on the basis of product, device, and region: