An online book is a resource in the form of a book that is exclusively accessible over the Internet. It's not the same as an e-book, which is often available for customers to download and read on a computer, smartphone, or e-reader locally.Pages are typically available to read sequentially (though “flipping” to another page is possible with a mouse, keyboard, or other controllers); and pages are read passively, with little or no interaction or multimedia.Electronic devices such as laptops, tablets, and cellphones can readily read these books. The increase in usage of these smart devices is thought to be one of the primary factors fueling global e-book demand. Furthermore, the government's environmental protection initiatives are being promoted all over the world to encourage people to save trees.This necessitates a reduction in the use of paper, resulting in an increase in the demand for e-books.
COVID-19 Impact Analysis
- The COVID-19 epidemic has had an impact on university education and research around the world. The global pandemic of COVID-19 has forced the closure of most bookstores throughout the world, resulting in an increase in eBook adoption. Many university libraries have closed, forcing customers to rely on e-books rather than printed books in libraries.
- Although the usage of online platforms to purchase products may provide a short-term boost to the market. In these difficult circumstances, using these platforms is simple and convenient. As online shopping portals provide variety of options and provide excellent payment options to consumers.
- However, as the lockdown limitations have been gradually lifted, manufacturing enterprises have resumed operations, potentially reviving the nail enamel sector.
Top Impacting Factors
The worldwide e-book market is being driven by technological advancements and the sophistication of reading devices that provide an experience akin to reading a physical book. The increased use of smartphones and the multilingual capabilities of e-books are predicted to boost global demand for e-books.
Easy access to a variety of e-book libraries via an application or online services is consumed over the internet, resulting in low-cost alternatives to traditional delivery methods. The availability of services for these e-books, such as e-lending, has further aided the global acceptance of e-books.
Furthermore, governments around the world are launching environmental preservation initiatives, particularly to save trees and minimize the use of paper, which is driving up demand for e-books.
To combat the spread of COVID-19, libraries across the country have shut down most of their services. Many, though, continue to provide electronic reading resources. Furthermore, as the cost of e-books has decreased, libraries are now able to purchase more copies of the e-books, assisting in market expansion.
Market Trends
Electronic Devices are Being Used more Frequently
- The worldwide e-book market is expected to develop significantly as the number of portable reading devices such as smartphones and tablets increases. Because of the fragility of books, the necessity for proper maintenance, and the exorbitant cost, consumers prefer e-books to books.The digitalization of books and their online accessibility is projected to create an innovative ecosystem that will provide readers with a real-time experience. Consumers with tablets or e-readers are more likely to read e-books on those devices; but, consumers with PCs or cellphones will occasionally use those platforms as well.
- While consumers in the United States are more likely to use digital technology for reading, the German populace is also increasingly using electronic gadgets for reading. The companies that operate in the market also support this desire. Following Apple Inc.'s lead, Kobo Inc. added a night-time mode that turns the screen yellow, allowing the eyes to rest.
New Innovations Drive the Market Growth
- Because most editions include dictionaries, character summaries, appendices, and other features, online books make it easier for users to read. Thus, users may rapidly discover more information by simply clicking on a reputation or unknown terms, making reading easier. This is typically a wonderful feature for teenagers who are learning to read.
- There is a growth in demand for online books due to the continuously expanding sales of digital products each year. Walmart, for example, announced new versions of their Onn tablets in May 2020, starting at USD 99 and having some unusual features for android tablets in that price range. The tablets run Android 10 and charge via USB-C, and they come with a variety of Walmart apps.
Key Benefits of the Report
- This study presents the analytical depiction of the online book services industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the online book services market share.
- The current market is quantitatively analyzed to highlight the online book services market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed online book services market analysis based on competitive intensity and how the competition will take shape in coming years
Questions Answered in the Online Book Services Market Report
- Which are the leading players active in the online book services market?
- What are the current trends that will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities of the market?
- What future projections would help in taking further strategic steps?
- What is "online book services" market prediction in the future?
- Which will be the niches at which players profiling with recent advancements should set a presence?
- What are the driving factors and opportunities in the market?
- What are the current trends and predicted trends?
- What are the challenges faced in the "online book services" market?
Key Market Segments
- By Product Type
- Trade
- Education
- Science, Technology & Medicine
- By End User
- By Application
- By Region
- North America
- Europe
- Germany
- France
- UK
- Spain
- Italy
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- Australia
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
Key Market Players
- Scribd, Inc.
- Blurb Inc
- Macmillan Publishers Ltd.
- Apple, Inc
- Smashwords, Inc.
- Lulu Press, Inc
- Barnes and Noble LLC
- BookBaby (DIY Media Group, Inc.)
- Rakuten Kobo, Inc
- Amazon.com, Inc.