Technavio’s latest market research report on the global consumer book publishing market provides an analysis of the most important trends expected to impact the market outlook from 2017-2021. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.
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Technavio has published a new market research report on the global consumer book publishing market 2017-2021 under their media and entertainment library. (Photo: Business Wire)
One of the key factors resulting in the growth of the global consumer book publishing market is the popularity of e-books. E-books have gained immense popularity over the last few years. E-readers can easily store thousands of books. E-books are also gaining popularity as they are quicker to access. Readers can easily download e-books for free or use paid services online.
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The three emerging market trends driving the global consumer book publishing market according to Technavio research analysts are:
- E-commerce taking the lead as the largest channel for book sales
- Increase in adoption of iPads and Kindle for e-book downloads
- Paperbacks becoming a popular choice among readers
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E-commerce taking the lead as the largest channel for book sales
E-commerce is witnessing strong growth in the global market. The increase in awareness about the benefits of online trading has resulted in a substantial rise in investments in the e-commerce business. Several offline trading companies and many established business houses are investing in online retail channels. Online retailing is a boon as it provides a platform for companies to reach customers in various regions.
According to Ujjwal Doshi, a lead analyst at Technavio for publishing and advertising, “Due to the growing popularity of e-commerce, companies such as Amazon.com and eBay are offering online retail. Amazon.com has become one of the most successful online companies. As e-commerce has many potential advantages compared with physical stores, several vendors are choosing online sales channels to sell their books. E-commerce also has the potential for lower inventory and reduced overhead and distribution costs.”
Increase in adoption of iPads and Kindle for e-book downloads
The global consumer book publishing market is observing a shift from printed to digital material. Many consumers are opting for e-books to have a different experience. The growing popularity of e-books has led to the increased adoption of specialized e-reading devices such as iPads and Kindle. iPads and Kindle are the popular e-reading devices. E-book readers prefer using e-ink screens as they are very similar to paper and are easy on the eyes when reading for long hours.
“Manufacturers are improving the quality of e-ink displays to provide crisp and clear text on iPads and Kindle. Several e-book reader vendors have developed an entire ecosystem of apps. The Apple iPad and iPhone run iBooks. iPads and Kindle are preferred by e-readers as they have a low physical footprint, long battery life, and large storage capacity. The apps have several books to choose from and offer an incredible reading experience,” says Ujjwal.
Paperbacks becoming a popular choice among readers
At the beginning of this decade, publishers feared the death of paperbacks. This was mainly because of the increasing growth rate of e-readers and digital books. In 2011, Kindle downloads outsold hard copies on Amazon. However, sales of print books increased by 3% in 2016.
Several students and casual readers prefer reading paperbacks as they lack distractions that are available on computers. They also protect against eye strain and headaches that result from staring at the screen for long hours. Readers prefer paperbacks because they are easy to share with family and friends. Paperbacks offer several advantages such as they are light, small, and portable. Globally, more than 40% of the readers prefer paperbacks over other forms of reading.
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