Global e-book market expected to see strong growth through 2026

This should be good news: the global e-book market was valued at US$18.13 billion in 2020, and it is expected to reach $23.12 billion by 2026, registering a compound annual growth rate (CAGR) of 4.9% through 2026, according to Research and Markets.

The research group says that technical development and sophistication of reading devices that provide a similar experience to that of reading an actual book is the key factor driving the global e-book market. The rising adoption of smartphones and multilingual features of e-books is an advantage which is expected to drive the global demand for e-books.

The easy access for a wide range of e-book libraries through application or online services are being consumed over the Internet, thus emerging as low-cost alternatives to the traditional method of delivery, according to Research and Markets. Services that are available for these e-books such as e-lending has also supported the adoption of e-book across the globe, adds the research group.

What’s more, libraries and publishers are also increasingly receiving responses for e-books. Hachette Book Group, one of the big publishers, has announced that in 2019 the publishing company generated $2.38 billion, which is a 5% increase since 2018.

Finally, the environment protection campaigns from governments across the globe especially for saving trees to reduce the use of paper also increases the demand for e-books, says Research and Markets.

Libraries across the country have closed most of their services to mitigate the spread of COVID-19. But many are still offering electronic reading materials. Moreover due to decreasing cost of the e-books, libraries are now able to buy more copies of the e-books, which is aiding in the market growth.

Dennis Sellers
the authorDennis Sellers
Dennis Sellers is the editor/publisher of Apple World Today. He’s been an “Apple journalist” since 1995 (starting with the first big Apple news site, MacCentral). He loves to read, run, play sports, and watch movies.