The size of the global online book services market is anticipated to be valued at USD 26.27 billion by 2029 from USD 19.82 billion in 2024, growing at a CAGR of 5.8% from 2024 to 2029.
An electronic book also called an e-book is a digital type of book and comprises both text and pictures. These books are often easily readable on electronic devices like computers, tablets, and smartphones. The increasing adoption of those smart devices is considered the major factor that's driving the demand for e-books globally. Moreover, the government's environment protection campaigns across the globe to market-saving trees. For this, it's needed to reduce the utilization of paper, and thereby there's a rise in the demand for e-books.
Within the past several years, digital readers or e-readers have gained popularity with a spread of consumers. Retirees who are looking forward to downsizing their homes and getting to live a minimalist life to students who are uninterested in carrying around a backpack filled with books are highly inclined towards online books, which supply the utmost convenient reading experience.
Key factors that are driving the market growth include increasing consumers' inclination towards reading books online or e-books instead of print ones including the growing use of smartphones and tablets. Several online book service providers specialize in crucial factors of online books, like discoverability and visibility. They also specialize in marketing strategies so as to bolster their books during a crowded digital marketplace. They increasingly specialize in marketing campaigns, including online visibility with classic media outreach and publicity and promotion tactics. Different magazines, newspapers, TV, radio, podcasts, and their connected websites can significantly increase visibility and help them to succeed in the target consumers. Digitally savvy readers are more likely to form recommendations to others online via blogs, social media, etc. This is often expected to make a positive outlook for the market over the forecast period.
Online books make it easy for users to read because most editions have dictionaries, character summaries, appendices, and so on. Thus, easy navigation i.e., by just clicking on a reputation or an unknown word, the user can quickly determine more information which will make reading easier. this is often also an excellent feature for teenagers who are learning to read. The demand for online books is growing on account of exponentially increasing sales of digital products annually. As an example, in May 2020, Walmart released new versions of its Onn tablets, starting at USD 99 and including some uncommon features for Android tablets in therein price range. The tablets run Android 10 and use USB-C to charge, and are available with several Walmart apps preloaded, including the Walmart app, Vudu, Sam’s Club, and Walmart eBooks.
Despite the positive outlook, growing online piracy issues are predicted to hamper market growth up to some extent within the coming years.
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REPORT METRIC |
DETAILS |
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Market Size Available |
2023 to 2029 |
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Base Year |
2023 |
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Forecast Period |
2024 to 2029 |
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CAGR |
5.8% |
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Segments Covered |
By Category, and Region |
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Various Analyses Covered |
Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities |
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Regions Covered |
North America, Europe, APAC, Latin America, Middle East & Africa |
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Market Leaders Profiled |
Amazon, Apple, Barnes & Noble, Kobo, Google, Smashwords, Inc., HarperCollins Publishers, Hachette Book Group, Lulu Press, Inc., Scribd, Inc. and Others. |
North America dominated the worldwide online book services market by accounting for a 36.9% share in 2019. The rise in online book sales and free eBook downloads is a direct result of the increase in smartphone, tablet, and e-reader users. As per bankmycell.com, in 2019, over 260 million people within the U.S. had a smartphone and this number is probably going to surge within the coming years. High internet penetration, including a shift in preference among tech-savvy users from traditional books to online books, is predicted to drive the market within the coming years. In North America, the USA is likely to record the dominant share over the outlook period. In 2017, it's estimated that e-book user penetration within the U.S. has reached over 27%, amounting to around 90 million people. The foremost prolific e-book readers within the U.S. are millennials (ages 18 to 29), making up 34% of all digital book readers.
Asia Pacific is foreseen to expand at the very best CAGR of 7.1% over the outlook period. Shifting consumer preference from printed books to digital ones, including a robust increase in the penetration of smartphones and mobile platforms, is among the key factors fueling market growth. The demand for online books in China is booming among children, which is fueling this growth.
Amazon, Apple, Barnes & Noble, Kobo, Google, Smashwords, Inc., HarperCollins Publishers, Hachette Book Group, Lulu Press, Inc. and Scribd, Inc. are some of the major players in the global online book services market.
In July 2020, Rakuten Kobo launched its Kobo Plus, an exclusive eBook subscription in Canada. The Kobo Plus collection offers a long range of stories including literary classics like The Colour Purple and Sophie’s Choice; and popular genre page-turners like Breathless In Love: The Maverick Billionaires by Bella Andre (Romance); nearby by Blake Pierce (Mystery); and therefore the Emperor’s Edge by Lindsay Buroker (Sci-Fi).
In June 2020, Amazon announced that it's providing two free months of Kindle Unlimited when someone signs up for the service. Kindle Unlimited is Amazon’s subscription service with a set of quite a million books, as well as select magazines like Time and National Geographic, and Audible narration on select titles.
In May 2020, Apple introduced iBooks Author, Apple Books for Authors, a replacement effort to urge writers to publish on its platform. Apple’s app can produce PDFs for Kindle and may provide authors with everything from better typographical controls to embedding video.
By Category
By Region
Frequently Asked Questions
The primary drivers of growth include increased internet penetration, the growing popularity of e-readers and audiobooks, convenience, and the rise of digital subscriptions. Additionally, globalization and the demand for more affordable reading options have expanded the market, making books more accessible worldwide.
Audiobooks are one of the fastest-growing segments in the market, driven by the increasing popularity of multitasking while listening and the availability of high-quality narration. Platforms like Audible, Apple, and Spotify are key players in this segment, expanding audiobook offerings to a global audience.
Subscription models, such as Kindle Unlimited, Scribd, and Audible, offer users unlimited or monthly access to a vast range of books for a fixed fee. This model is gaining popularity globally, particularly among avid readers and audiobook listeners, as it provides a cost-effective way to consume large volumes of content.
Technologies such as AI-driven recommendations, personalized reading suggestions, and cloud-based libraries are improving the user experience. Voice recognition, virtual assistants, and enhanced e-reader features are also making it easier to consume digital content across devices.
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