What Has Been the Growth Trajectory of the Online Book Services Market?
The online book services market has seen considerable growth due to a variety of factors.
• The market size for online book services has seen considerable growth in the past few years. It is projected to expand from $23.1 billion in 2024 to $24.73 billion in 2025, recording a compound annual growth rate (CAGR) of 7.1%.
This significant growth during the historical era is due to increased internet accessibility, changes in consumer habits, a surge in worldwide e-commerce, and the ease and accessibility it offers, along with the escalating popularity of e-reading devices.
What Are The Predictions for The Online Book Services Market Size In The Coming Years?
The online book services market is expected to maintain its strong growth trajectory in upcoming years.
• It is projected that the market size of online book services will experience significant expansion in the coming years, reaching a value of $34.92 billion in 2029 with a compound annual growth rate (CAGR) of 9.0%.
This anticipated growth within the forecast period is largely due to the widespread usage of mobile devices, the adoption of subscription models, reading platforms, the global expansion of book markets and environmental consciousness. Key tendencies during this forecast period include partnering with authors and publishers, emphasizing accessibility and inclusivity, implementing game-like elements in reading, incorporating virtual reality (VR) and augmented reality (AR), and the execution of environmental sustainability efforts.
What Are The Core Factors Supporting Growth In Online Book Services Market?
Anticipated growth in the online book services market is attributable to the expanding internet user base. An internet user refers to a person who can access and exploit the Internet's resources. As the quantity of internet users multiplies, so does the online book services market, given that a larger audience is resorting to electronic books and e-reading platforms to readily access a diverse array of literature. For example, the International Telecommunication Union, a specialist agency based in Switzerland, reported in February 2024 that the number of people using the internet had risen from 5.1 billion in 2022 to 5.4 billion in 2023. Consequently, the burgeoning population of internet users is propelling the growth of the online book services market.
What Are The Core Segments Of The Globa Online Book Services Market?
The online book services market covered in this report is segmented –
1) By Products: Education, Trade, Science, Technology, Medicine
2) By Application: Household, Institutional
3) By End User: Teenagers, Adults
Subsegments:
1) By Education: Textbooks (K-12 And Higher Education), E-Learning Materials And Resources, Study Guides And Reference Books
2) By Trade: Fiction (Novels, Short Stories), Non-Fiction (Biographies, Self-Help, Business), Literary Works And Anthologies
3) By Science: Academic And Research Publications, Scientific Journals And Articles, Popular Science Books
4) By Technology: Computer Science And IT Books, Engineering And Technical Manuals, Software Development And Programming Guides
5) By Medicine: Medical Textbooks And Reference Books, Clinical Guidelines And Protocols, Patient Care And Health Education Materials
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Which Emerging Trends Are Reshaping The Online Book Services Market?
In the online book services market, top corporations are opting for strategic partnerships as a means to offer students seeking higher education around the globe access to digital books. This tactic of strategic partnerships involves businesses using each other's strengths and assets to gain shared benefits and make strides in the market. A notable example is the partnership in May 2023 between Wiley, a US-based publishing company, and Perlego, an e-learning provider based in the UK. This alliance allows Perlego to present students with an extensive range of Wiley's digital works on its portal. Wiley's collection available on Perlego includes textbooks, trade, and professional titles. By subscribing to Perlego, students can freely access over a million ebooks, both from Wiley and from different publishers, thus expanding their educational resources and study materials.
Who Are the Key Players in the Online Book Services Market?
Major companies operating in the online book services market include:
• Walmart Inc.
• Amazon.com Inc.
• Apple Inc.
• Google LLC
• Bertelsmann SE & Co KGaA
• Penguin Random House LLC
• Pearson plc
• Hachette Book Group (Lagardère SCA)
• Follett Corporation
• HarperCollins Publishers LLC
• John Wiley & Sons Inc.
• News Corporation (HarperCollins Publishers LLC)
• Barnes & Noble Inc.
• Simon & Schuster Inc.
• Macmillan Publishers Ltd.
• Scholastic Corporation
• Smashwords Inc.
• Scribd Inc.
• ThriftBooks Inc.
• Powell's Books Inc.
• Blurb Inc.
• BookBaby Lulu Press Inc.
• Kobo Inc.
• Waterstones Booksellers Limited
• Ingram Holdings Inc.
What are the Regional Insights into the Online Book Services Market?
North America was the largest region in the online book services market share in 2024. The regions covered in the online book services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
