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Online Book Services Global Market Report 2022

·4-min read
ReportLinker
ReportLinker

Major players in the online book services market are Amazon. com, Apple, Barnes & Noble, Kobo Inc, Google, Smashwords, Hachette Book Group, Lulu Press, Scribd Inc, News Corporation (HarperCollins Publishers LLC) and Blurb Inc (Reischling Press Inc).

New York, Sept. 15, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Online Book Services Global Market Report 2022" - https://www.reportlinker.com/p06318534/?utm_source=GNW


The global online book services market is expected to grow from $19.00 billion in 2021 to $20.05 billion in 2022 at a compound annual growth rate (CAGR) of 5.51%. The online book services market is expected to grow to $24.85 billion in 2026 at a compound annual growth rate (CAGR) of 5.52%.

The online book services market consists of sales of online book services by entities (organizations, sole traders, and partnerships) that is used to allow users to read on an electronic device like a computer or handheld device.The books available online or on the internet are also called electronic or e-books and are easily readable.

The online book services contain a digital file with a body of texts and images and display them on a screen such as a smartphone or a laptop like a printed book. The online book services are available based on subscriptions to applications like Amazon’s Kindle, Good Reads, Bookbub, and Scribd.

The main types of products in the online book services market are education, trade, science, technology and medicine.The online educational books are designed to help the students with their workshops and assignments.

Online book services are mainly used by teenagers and adults.

North America was the largest region in 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.

The 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 shares, competitors with an online book services market share, detailed online book services market segments, market trends and opportunities, and any further data you may need to thrive in the online book services industry. This online book services market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The changing consumer preference toward online book reading is driving the growth of the online book services market.The change in consumer preference towards the online book is due to the less cost of subscription compared to buying all the required books offline, as well as ease of access, and convenience of reading compared to traditional books.

The other reason which changed the consumer preference toward online book reading is the global pandemic which led to the closure of most book shops across the globe.This preference change is significantly driving the readers towards consuming e-books that are easily available and readable.

For instance, in May 2020, Rakuten Kobo, a Canada-based e-book company, revealed that more than 2 million new users subscribed for Kobo during the pandemic.This e-book adoption was driven by the global pandemic and the closure of most bookstores across the globe indicating the consumer preference change towards online book reading and resulting in the adoption of e-books.

Therefore, the changing consumer preference toward online book reading will drive the growth of the online book services market.

The strategic partnership is a key trend in the online book services market.Companies are partnering with e-book sellers, and distributors to expand their services into new markets by leveraging each other’s resources and expertise.

These partnerships are also done to introduce e-books into new areas such as public libraries to create product availability in most places and increase revenues. For instance, 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 at offering a comprehensive digital reading collection including e-books, audiobooks, and e-readers to Booktopia consumers in Australia by making Rakuten Kobo Booktopia’s exclusive digital reading partner. In addition, in March 2019, OverDrive Inc, a US-based digital distributor of e-books, audiobooks, music, and video partnered with Libreka, a Germany-based platform for the collection and distribution of e-books. The partnership aims to make OverDrive’s e-book and digital audiobook product line available in public libraries in Germany, Austria, and Switzerland.

In January 2021, Medium, a US-based online publishing platform acquired Glose, for an undisclosed amount.This acquisition added an e-book portfolio to Medium’s offering and helps partner with publishers to help authors reach more readers while increasing its current readers.

Glose is a French social-based ebook company.

The countries covered in the online book services market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA.
Read the full report: https://www.reportlinker.com/p06318534/?utm_source=GNW

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