A major player in the online book services market is Amazon. com, Apple, Barnes & Noble, Kobo Inc, Google, Smashwords, Hachette Book Group, Lulu Press, Scribd Inc, News Corp (HarperCollins Publishers LLC) and Blurb Inc (Reischling Press Inc).
NEW YORK, Sept. 15, 2022 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the “2022 Online Book Services Global Market Report” report – https://www.reportlinker.com/p06318534/?utm_source=GNW
The global online book services market is expected to grow from USD 19.00 billion in 2021 to USD 20.05 billion in 2022, at a compound annual growth rate (CAGR) of 5.51%. The online book services market is expected to grow at a compound annual growth rate (CAGR) of 5.52% to $24.85 billion by 2026.
The online book services market includes online book services sold by entities (organizations, sole traders, and partners) that are used to allow users to read on electronic devices such as computers or handheld devices. Books available online or on the internet are also called eBooks or eBooks and are easy to read.
Online book services take digital files with lots of text and images and display them on screens such as smartphones or laptops, just like printed books. The online book service is based on subscriptions to applications such as Amazon Kindle, Good Reads, Bookbub and Scribd.
The major product types in the online book services market are education, trade, science, technology, and medicine. Online educational books are designed to help students complete workshops and assignments.
Online book services are mostly used by teenagers and adults.
North America is the largest region for the 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 provides Online Book Services market statistics including Online Book Services Industry Global Market Size, Regional Share, Competitors with Online Book Services Market Share, Detailed Online Book Services Market Breakdown Scores, market trends and opportunities, as well as any further data you may need to thrive in the online book services industry. This Online Book Services Market research report provides a complete perspective of everything you need and an in-depth analysis of the current and future scenarios of the industry.
Changes in consumers’ preference for online book reading are driving the growth of the online book services market. The change in consumer preference for online books is due to the lower cost of subscriptions and ease of reading compared to buying all the books you need offline. Easy to access and read compared to traditional books.
Another reason for changing consumers’ preferences for online reading is the global pandemic that has shut down most bookstores around the world. This change in preference has given readers a huge push to consume ebooks that are easy to access and read.
For example, in May 2020, Canada-based ebook company Rakuten Kobo revealed that over 2 million new users had subscribed to Kobo during the pandemic. This adoption of e-books was driven by the global pandemic and the closure of most bookstores around the world indicating a shift in consumer preferences for online reading and leading to e-book adoption.
Hence, changes in consumers’ preference for online book reading will drive the growth of the online book services market.
Strategic partnerships are a major trend in the online book services market. The company is working with e-book sellers and distributors to expand services into new markets by leveraging each other’s resources and expertise.
The partnerships also aim to bring e-books into new areas like public libraries to create product availability and increase revenue in most places. 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 provide Booktopia consumers in Australia with a comprehensive digital reading collection including e-books, audiobooks and e-readers by making Rakuten Kobo Booktopia the exclusive digital reading partner. Additionally, in March 2019, OverDrive Inc, a US-based digital distributor of ebooks, audiobooks, music and video, partnered with Libreka, a Germany-based ebook collection and distribution platform. The partnership aims to make OverDrive’s product line of ebooks and digital audiobooks available in public libraries in Germany, Austria and Switzerland.
In January 2021, American online publishing platform Medium acquired Glose for an undisclosed sum. The acquisition adds to Medium’s portfolio of e-books and helps partner with publishers to help authors reach more readers while growing existing readers.
Glose is a French social e-book company.
The countries covered in the Online Book Services Market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, United Kingdom, and United States.
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