The global e-book market is expected to witness growth owing to increasing reach and convenience offered and is gradually expected to replace traditional reading methods. The printed book market is expected to lose market share, due to the digitization of books and its accessibility over the internet. The implementation of the latest hardware, software, and educational content is expected to create an innovative environment to provide real-time experience for readers. Shifting of sales channel for printed books from super market & departmental stores to online stores is expected to be the root cause for rise of the global market. An increasing number of portable readable devices such as smart-phones & tablets is expected to be the key growth factor for the global e-book market.
The emergence of digital education and interactive learning systems is also expected to fuel market growth. Additionally, rising environmental concerns over cutting trees are also expected to drive market growth over the forecast period. The potential threat of piracy and expansion of distribution platforms may pose a challenge to market growth. Lack of awareness about e-book technology can hinder market growth over the forecast period. Low internet and mobile penetration in developing nations are expected to provide new growth opportunities. Self-publishing and multi-currency paying options are expected to be few trends in the market over the forecast period. The global e-book market can be segmented on the basis of platforms and applications.
The application consists of healthcare, educational and entertainment etc. Some notable players in the global e-book market include Amazon, Harper Collins, Hachette, Penguin Random House, Kensington Publishing, Cengage Learning, Macmillan Publishers, Google, Mc Graw Hill, Dot books, Lulu and Wiley etc. Aggregators and distributors have a major role in market growth. Few market distributors include ACK Media, Bookbaby, Andrews Limited, Smashwords, Tertiary Publishing, Pigeon Labs, Ciando, Dawson France, Planet Media, eBook Architects, and Green Apple Data Centre.
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Artificial Intelligence (AI), Virtual Reality (VR), and Augmented Reality (AR) solutions are anticipated to substantially contribute while responding to the COVID-19 pandemic and address continuously evolving challenges. The existing situation owing to the outbreak of the epidemic will inspire pharmaceutical vendors and healthcare establishments to improve their R&D investments in AI, acting as a core technology for enabling various initiatives. The insurance industry is expected to confront the pressure associated with cost-efficiency. Usage of AI can help in reducing operating costs, and at the same time, can increase customer satisfaction during the renewal process, claims, and other services. VR/AR can assist in e-learning, for which the demand will surge owing to the closure of many schools and universities. Further, VR/AR can also prove to be a valuable solution in providing remote assistance as it can support in avoiding unnecessary travel. The report will account for Covid19 as a key market contributor.