Global Books Market

Global Books Market Size, Share, Growth Analysis, By Format(Hard copy, e-books), By Distribution Channel(Online, local book shops) - Industry Forecast 2023-2030


Report ID: SQMIG25G2001 | Region: Global | Published Date: April, 2024
Pages: 223 | Tables: 64 | Figures: 75

Global Books Market Insights

Global Books Market size was valued at USD 141.86 Billion in 2022 and is poised to grow from USD 144.41 Billion in 2023 to USD 166.57 Billion by 2031, at a CAGR of 1.8% during the forecast period (2024-2031).

The global books market is a thriving industry that caters to the reading needs of individuals worldwide. The market offers a diverse range of formats, including hardcover books, paperbacks, audiobooks, and e-books, to name a few. The primary purpose of the market is to provide readers with access to literature and information, be it for entertainment or educational purposes. One of the key drivers of this growth is the increasing popularity of e-books and audiobooks, which offer readers the convenience of accessing books anytime, anywhere, and on any device. Moreover, the rise in literacy rates, particularly in developing regions, has also contributed to the growth of the market. Despite the growth prospects, the global books market faces several challenges. One of the major restraints is the increasing competition from alternative entertainment sources, such as streaming services, social media, and video games, which may divert readers' attention away from books. Additionally, the high cost of books, particularly hardcover books, may limit the market's growth potential, particularly in low-income regions.

Despite these challenges, the global books market offers several opportunities for growth. For instance, the growing popularity of self-publishing platforms, such as Amazon's Kindle Direct Publishing, provides a cost-effective way for independent authors to publish their work, thereby increasing the market's overall offerings. Furthermore, the growing demand for books in regional languages, particularly in Asia-Pacific and Africa, offers a significant opportunity for publishers to expand their offerings. In terms of key trends, the global books market is witnessing a shift towards digital formats, particularly e-books, and audiobooks. The market is also experiencing an increasing demand for non-fiction books, particularly in genres such as self-help, memoirs, and business, among others. Additionally, the market is witnessing an increasing trend towards subscription-based models, such as Amazon's Kindle Unlimited and Audible, which offer readers unlimited access to a vast library of books for a monthly fee.

Market snapshot - 2024-2031

Global Market Size

USD 141.86 Billion

Largest Segment

Hard copy

Fastest Growth

Hard copy

Growth Rate

1.8% CAGR

Global Books Market 2021-2030 ($ Bn)
Country Share for North America Region- 2021 (%)
Global Books Market Size By Format 2021-2030 ($ Bn)
Global Books Market Size By Format 2021-2030 (%)

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Global Books Market Segmental Analysis

Global Books Market is segmented on the basis of format, distribution channel, and region. By format, the market is segmented into hard copy, e-books, and audiobooks. By distribution channel, the market is segmented into online, local book shops, retail shops, and specialty stores. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.

Analysis by Format

In 2021, the hard copy segment dominated the global books market, contributing around 78.7% of the market revenue. The popularity of hard copy books is due to their unique features that make them a preferred choice among readers. They are easy to read, browse, and have a certain durability that digital text does not have. Books have been a part of human history for centuries and have survived despite the competition from various technologies.

The audiobooks segment is anticipated to register faster growth during the forecast period. Audiobooks have gained popularity due to their immersive, educational, instructional, and entertaining nature. They are perfect for people who are time-poor and time-rich. Audiobooks can also improve the literacy of young readers and those for whom English is a second language. Moreover, according to the Western Down Libraries website, around 27% of the Kindergarten to Year 12 population are auditory learners. Regularly listening to audiobooks can help students comprehend two grade levels above their reading level. Combining print and audio increases recall by 40% over print alone, making it an effective way to improve learning outcomes.

Analysis by Distribution Channel

Local bookshops have long been a cherished institution, serving as a hub for book lovers to congregate, exchange ideas, and discover new worlds. In 2021, local bookstores dominated the distribution channel, accounting for a significant 50.3% of the market revenue share. These shops offer a personal touch and a sense of community, providing a warm and welcoming atmosphere for readers of all ages and interests. Not only do local bookshops sell books, but they also play a critical role in nurturing local literary talent. By hosting in-house book clubs, themed reading groups, and author events, they create a platform for aspiring writers and readers to interact and exchange ideas, fostering a creative and vibrant literary scene in their communities.

The online channel is expected to register faster growth in the coming years. Online vendors are embracing innovative strategies to attract customers, such as selling second-hand or used books in readable condition at low prices. This has proven to be a highly successful venture, particularly among students and young bookworms looking for affordable yet high-quality reads. For instance, Kitabay, a website operating in India, offers second-hand books at a meager price of 14 USD, with free home delivery for orders above a specific amount. Customers can also choose from "Mystery Box" options, which offer a selection of books based on genres, such as Romance, Women's Fiction, Young Adult, Classics, and more. This strategy not only attracts budget-conscious customers but also promotes sustainability by giving used books a new lease on life.

Global Books Market Size By Format 2021(%), 2022 (%)

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Global Books Market Regional Insights

North America accounted for the largest share of the global book market in 2021, with a contribution of over 32.9%. This can be attributed to the presence of numerous independent publishers and publishing companies in the region, which is expected to drive market growth. Additionally, the rising number of enthusiastic readers in North America is likely to further benefit the market. In terms of book retailers, Amazon holds the largest market share in North America, followed by Barnes & Noble. Among book formats, hardcover books are expected to hold the largest market share, while audiobooks are anticipated to witness significant growth. The penetration of e-books is also predicted to increase in the region. However, many physical retail bookstores have been facing challenges due to the growing number of readers switching to online shopping or opting for subscription-based e-books.

The Asia Pacific region is expected to witness growth at the fastest CAGR. The book market in this region is currently in the growth phase, and it is dominated by local publishers. The demand for international books is expected to increase, but the region's diverse languages result in higher demand for books in regional languages compared to English books.

Global Books Market Size By Geography, 2021-2030, 2024-2031
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Global Books Market Dynamics

Drivers

Technological advancements

  • The growth of e-books and audiobooks has had a significant impact on the global books market. As technology continues to evolve, more people are turning to digital books as their preferred reading format. E-books are convenient, portable, and often less expensive than traditional print books. In addition, e-books allow readers to adjust font sizes and styles, making reading more accessible to those with visual impairments. Audiobooks, on the other hand, are a popular choice for those who prefer to listen to books while commuting or doing other activities. With the growth of the internet and the increasing availability of high-speed internet connections, accessing e-books and audiobooks has become easier than ever before.

Expansion of distribution channels

  • The rise of online retailers such as Amazon has had a significant impact on the global market. Online retailers have made it easier for consumers to access a wider range of books, including hard-to-find titles and self-published works. In addition, online retailers offer a more convenient shopping experience, allowing consumers to browse and purchase books from the comfort of their own homes. This has helped to boost demand for books, as consumers are able to find and purchase books more easily than ever before. Furthermore, online retailers have made it easier for publishers and authors to reach a wider audience, regardless of their geographic location. This has helped to drive the production of more books, which in turn has helped to drive demand for books.

Restraints

High production costs

  • High production costs can impact the overall demand for books as publishers may find it challenging to price their books competitively. Higher production costs may lead to higher prices for books, which can ultimately result in lower demand. Additionally, higher production costs may also force publishers to print smaller quantities of books, which can make it more difficult for readers to find the books they want, particularly if they are not bestsellers. This can lead to a decline in demand for books overall, as readers may become frustrated with the limited selection of books available.

Competition from digital media

  • Competition from digital media can impact the demand for print books. With the rise of e-books, audiobooks, and online reading platforms, readers have more options than ever before. This can make it challenging for traditional print books to compete, particularly if they are priced higher than their digital counterparts. Additionally, the convenience of being able to access books instantly and from anywhere can make it more appealing for readers to choose digital books over print books. This can ultimately lead to a decline in demand for print books and impact the overall profitability of publishers and bookstores.

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Global Books Market Competitive Landscape

Global Books Market is highly competitive, with a large number of players operating in the industry. The market is characterized by the presence of both established and emerging players, who are constantly innovating to gain a competitive edge. The market is also characterized by a number of smaller players and independent publishers, who are carving out niche markets for themselves by focusing on specific genres or topics. In addition, there is growing competition from digital disruptors such as Google Books and Apple Books, who are leveraging their technological expertise to gain a foothold in the market. In terms of trends, the global books market is undergoing a significant transformation as readers increasingly shift toward digital formats. This has led to a decline in physical book sales, particularly in mature markets such as North America and Europe. However, the market for e-books is growing rapidly, particularly in emerging markets such as Asia-Pacific and Latin America. In addition, there is a growing demand for audiobooks, which are gaining popularity as a convenient and accessible alternative to print and digital formats.

Top Player’s Company Profiles

  • John Wiley & Sons, Inc. (US)
  • Scholastic Corporation (US)
  • News Corp (US)
  • RELX PLC (UK)
  • HarperCollins Publishers LLC (US)
  • Holtzbrinck Publishing Group (Germany)
  • Bloomsbury Publishing PLC (UK)
  • Bonnier AB (Sweden)
  • Shueisha Inc. (Japan)
  • Kodansha Ltd. (Japan)
  • Simon & Schuster (US)
  • Cengage Learning Holdings II, Inc. (US)
  • Grupo Santillana de Ediciones, S.L. (Spain)
  • Egmont Group (Denmark)
  • Oxford University Press (UK)
  • Cambridge University Press (UK)
  • Hachette Livre (France)

Recent Developments

  • September of 2023 Months after an 800-year-old copy of the Bible became the most expensive book ever sold, two books by the famous authors Agatha Christie and Arthur Conan Doyle, which were once owned by English musician Charlie Watts, broke individual records for the beloved authors at Christie's auction house in London.
  • In August 2021, HarperCollins Publishers announced the acquisition of Houghton Mifflin Harcourt's trade publishing division for $349 million. This deal will expand HarperCollins' portfolio of books and authors and give it a stronger foothold in the global educational market.
  • In May 2021, Barnes & Noble Education, which operates college bookstores across the United States, announced a rebranding effort to become "Barnes & Noble College." The company also launched a new website and digital platform for students to purchase and rent textbooks.

Global Books Key Market Trends

  • Rise of E-books and Audiobooks: With the widespread adoption of smartphones, tablets, and e-readers, there has been a significant increase in the popularity of e-books and audiobooks. These digital formats offer readers more convenience and flexibility, allowing them to access books on the go, across multiple devices.
  • Growing Demand for Non-fiction: There has been a significant increase in the demand for non-fiction books in recent years, with readers looking for informative and educational content on topics ranging from self-help, personal development, and memoirs to history, politics, and current events.
  • Subscription-based Models: Many publishers and booksellers are turning to subscription-based models, offering readers access to a curated selection of books for a monthly fee. This model has been successful in encouraging readers to explore new genres and authors and is particularly popular among younger readers.

Global Books Market SkyQuest Analysis

SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.

According to our Global Books Market analysis, the market is driven by several factors such as the increasing number of independent publishers and publishing companies, a growing number of avid readers, and the availability of various distribution channels. Additionally, the popularity of hard copy books and the increasing demand for audiobooks are contributing to the growth of the market. Despite the rising popularity of e-books and digital reading devices, hard copy books are still preferred by many readers. The durability and sensory experience of reading a physical book cannot be replaced by digital alternatives. However, the popularity of audiobooks is on the rise, as they offer convenience and flexibility for those who may not have the time or ability to read a physical book. In terms of distribution channels, local bookshops continue to hold the largest market revenue share, but online channels are expected to register faster growth in the coming years. Online vendors are exploring innovative strategies such as selling second-hand or used books to customers, which has proven to be successful among students and young book lovers. In conclusion, the global market is a dynamic and resilient industry that continues to evolve with changing consumer preferences and technological advancements. With the increasing availability of distribution channels and the growing demand for hard copy books and audiobooks, the market is expected to witness steady growth in the coming years.

Report Metric Details
Market size value in 2022 USD 141.86 Billion
Market size value in 2031 USD 166.57 Billion
Growth Rate 1.8%
Base year 2022
Forecast period 2024-2031
Forecast Unit (Value) USD Billion
Segments covered
  • Format
    • Hard copy, e-books, and audiobooks
  • Distribution Channel
    • Online, local book shops, retail shops, and specialty stores
Regions covered North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
Companies covered
  • John Wiley & Sons, Inc. (US)
  • Scholastic Corporation (US)
  • News Corp (US)
  • RELX PLC (UK)
  • HarperCollins Publishers LLC (US)
  • Holtzbrinck Publishing Group (Germany)
  • Bloomsbury Publishing PLC (UK)
  • Bonnier AB (Sweden)
  • Shueisha Inc. (Japan)
  • Kodansha Ltd. (Japan)
  • Simon & Schuster (US)
  • Cengage Learning Holdings II, Inc. (US)
  • Grupo Santillana de Ediciones, S.L. (Spain)
  • Egmont Group (Denmark)
  • Oxford University Press (UK)
  • Cambridge University Press (UK)
  • Hachette Livre (France)
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Table Of Content

Executive Summary

Market overview

  • Exhibit: Executive Summary – Chart on Market Overview
  • Exhibit: Executive Summary – Data Table on Market Overview
  • Exhibit: Executive Summary – Chart on Global Books Market Characteristics
  • Exhibit: Executive Summary – Chart on Market by Geography
  • Exhibit: Executive Summary – Chart on Market Segmentation
  • Exhibit: Executive Summary – Chart on Incremental Growth
  • Exhibit: Executive Summary – Data Table on Incremental Growth
  • Exhibit: Executive Summary – Chart on Vendor Market Positioning

Parent Market Analysis

Market overview

Market size

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • SWOT Analysis

KEY MARKET INSIGHTS

  • Technology Analysis
    • (Exhibit: Data Table: Name of technology and details)
  • Pricing Analysis
    • (Exhibit: Data Table: Name of technology and pricing details)
  • Supply Chain Analysis
    • (Exhibit: Detailed Supply Chain Presentation)
  • Value Chain Analysis
    • (Exhibit: Detailed Value Chain Presentation)
  • Ecosystem Of the Market
    • Exhibit: Parent Market Ecosystem Market Analysis
    • Exhibit: Market Characteristics of Parent Market
  • IP Analysis
    • (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
  • Trade Analysis
    • (Exhibit: Data Table: Import and Export data details)
  • Startup Analysis
    • (Exhibit: Data Table: Emerging startups details)
  • Raw Material Analysis
    • (Exhibit: Data Table: Mapping of key raw materials)
  • Innovation Matrix
    • (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
  • Pipeline product Analysis
    • (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
  • Macroeconomic Indicators

COVID IMPACT

  • Introduction
  • Impact On Economy—scenario Assessment
    • Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
  • Revised Market Size
    • Exhibit: Data Table on Global Books Market size and forecast 2021-2027 ($ million)
  • Impact Of COVID On Key Segments
    • Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
  • COVID Strategies By Company
    • Exhibit: Analysis on key strategies adopted by companies

MARKET DYNAMICS & OUTLOOK

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • Regulatory Landscape
    • Exhibit: Data Table on regulation from different region
  • SWOT Analysis
  • Porters Analysis
    • Competitive rivalry
      • Exhibit: Competitive rivalry Impact of key factors, 2021
    • Threat of substitute products
      • Exhibit: Threat of Substitute Products Impact of key factors, 2021
    • Bargaining power of buyers
      • Exhibit: buyers bargaining power Impact of key factors, 2021
    • Threat of new entrants
      • Exhibit: Threat of new entrants Impact of key factors, 2021
    • Bargaining power of suppliers
      • Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
  • Skyquest special insights on future disruptions
    • Political Impact
    • Economic impact
    • Social Impact
    • Technical Impact
    • Environmental Impact
    • Legal Impact

Market Size by Region

  • Chart on Market share by geography 2021-2027 (%)
  • Data Table on Market share by geography 2021-2027(%)
  • North America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • USA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Canada
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Europe
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Germany
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Spain
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • France
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • UK
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Europe
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Asia Pacific
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • China
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • India
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Japan
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Korea
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Asia Pacific
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Latin America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Brazil
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of South America
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Middle East & Africa (MEA)
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • GCC Countries
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Africa
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of MEA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)

KEY COMPANY PROFILES

  • Competitive Landscape
    • Total number of companies covered
      • Exhibit: companies covered in the report, 2021
    • Top companies market positioning
      • Exhibit: company positioning matrix, 2021
    • Top companies market Share
      • Exhibit: Pie chart analysis on company market share, 2021(%)

Methodology

For the Global Books Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:

1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.

2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Books Market.

3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.

4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.

Analyst Support

Customization Options

With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Books Market:

Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.

Regional Analysis: Further analysis of the Global Books Market for additional countries.

Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.

Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.

Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.

Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.

Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.

Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.

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FAQs

Global Books Market size was valued at USD 141.86 Billion in 2022 and is poised to grow from USD 144.41 Billion in 2023 to USD 166.57 Billion by 2031, at a CAGR of 1.8% during the forecast period (2024-2031).

Global Books Market is highly competitive, with a large number of players operating in the industry. The market is characterized by the presence of both established and emerging players, who are constantly innovating to gain a competitive edge. The market is also characterized by a number of smaller players and independent publishers, who are carving out niche markets for themselves by focusing on specific genres or topics. In addition, there is growing competition from digital disruptors such as Google Books and Apple Books, who are leveraging their technological expertise to gain a foothold in the market. In terms of trends, the global books market is undergoing a significant transformation as readers increasingly shift toward digital formats. This has led to a decline in physical book sales, particularly in mature markets such as North America and Europe. However, the market for e-books is growing rapidly, particularly in emerging markets such as Asia-Pacific and Latin America. In addition, there is a growing demand for audiobooks, which are gaining popularity as a convenient and accessible alternative to print and digital formats. 'Amazon.com, Inc. (US)', 'Pearson PL (UK)', 'Houghton Mifflin Harcourt Company (US)', 'John Wiley & Sons, Inc. (US)', 'Scholastic Corporation (US)', 'News Corp (US)', 'RELX PLC (UK)', 'HarperCollins Publishers LLC (US)', 'Holtzbrinck Publishing Group (Germany)', 'Bloomsbury Publishing PLC (UK)', 'Bonnier AB (Sweden)', 'Shueisha Inc. (Japan)', 'Kodansha Ltd. (Japan)', 'Simon & Schuster (US)', 'Cengage Learning Holdings II, Inc. (US)', 'Grupo Santillana de Ediciones, S.L. (Spain)', 'Egmont Group (Denmark)', 'Oxford University Press (UK)', 'Cambridge University Press (UK)', 'Hachette Livre (France)'

The growth of e-books and audiobooks has had a significant impact on the global books market. As technology continues to evolve, more people are turning to digital books as their preferred reading format. E-books are convenient, portable, and often less expensive than traditional print books. In addition, e-books allow readers to adjust font sizes and styles, making reading more accessible to those with visual impairments. Audiobooks, on the other hand, are a popular choice for those who prefer to listen to books while commuting or doing other activities. With the growth of the internet and the increasing availability of high-speed internet connections, accessing e-books and audiobooks has become easier than ever before.

Rise of E-books and Audiobooks: With the widespread adoption of smartphones, tablets, and e-readers, there has been a significant increase in the popularity of e-books and audiobooks. These digital formats offer readers more convenience and flexibility, allowing them to access books on the go, across multiple devices.

North America accounted for the largest share of the global book market in 2021, with a contribution of over 32.9%. This can be attributed to the presence of numerous independent publishers and publishing companies in the region, which is expected to drive market growth. Additionally, the rising number of enthusiastic readers in North America is likely to further benefit the market. In terms of book retailers, Amazon holds the largest market share in North America, followed by Barnes & Noble. Among book formats, hardcover books are expected to hold the largest market share, while audiobooks are anticipated to witness significant growth. The penetration of e-books is also predicted to increase in the region. However, many physical retail bookstores have been facing challenges due to the growing number of readers switching to online shopping or opting for subscription-based e-books.

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Global Books Market

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