The global e-reader market is expected to witness growth over the forecast period. The increasing availability of free e-books on the Internet coupled with a shift in preference among tech-savvy users from traditional books to portable electronic reading devices is expected to drive the market. The ability to read and manage purchased e-books in the cloud is expected to favorably impact market growth. Increased usage of smartphones, tablets, and phablets is expected to be conducive for the e-readers market growth over the next seven years. Students and business professionals who strive for enhanced reading experience are expected to generate substantial demand for e-books, as a result of which marketers usually target this segment to generate maximum impact.
Advancements in battery technology aimed at increasing battery longevity have significantly encouraged e-reader usage. The development of enhanced display technologies for alleviating readability is expected to play a pivotal role in e-readers being considered as attractive prospects and substitutes for traditional books. With Internet connectivity, e-readers provide users an option to search the meaning of complex words or comprehend foreign languages. Some e-readers are also equipped with an offline dictionary, thereby easing the process of word look-up. Although e-readers are not expected to completely replace traditional books in the foreseeable future, increased portability and growing awareness pertaining to saving paper are projected to drive the e-reader market.
Eye strain caused by constant exposure to the screen may inhibit product usage as users may opt for traditional books instead of their electronic counterparts. As several hardware and software components constitute an e-reader, the possibility of e-readers being rendered inaccessible due to malfunctioning components may deter customers from purchasing these devices. The availability of cheaper tablets and phablets is expected to considerably hamper market growth as these devices offer other features besides supporting e-books, thereby reducing the possibility of users opting to purchase a primitive e-book reader. However, the presence of several customers unwilling to spend extra on purchasing tablets is expected to keep the e-reader market buoyant over the forecast period.
Fuelled by high demand from the U.S., North America is expected to emerge as a key regional market. Increasing sales in China and growing popularity in India is expected to play a pivotal role in Asia Pacific shaping up as a lucrative market. Key players in the e-reader market include Amazon, Barnes & Noble, Ectaco, Bookeen, Kobo, News Corporation, Sony Corporation, and Plastic Logic Limited. Increasing competition among market players is expected to result in lower prices, thereby providing opportunities for the e-reader market growth over the next seven years. Companies such as Barnes & Noble and Amazon which also offer touchscreen tablets are not expected to be as impacted by the surge in demand for tablets as standalone e-book readers manufacturing companies such as Kobo.
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In order to ensure business continuity amidst the COVID-19 crisis, business organizations, especially in highly affected countries are allowing their employees to work from home. The increase in people working from home has led to a surge in demand for online video viewing, downloading, and communication through video conferencing, all of which are leading to increased network traffic and data usage. COVID-19 shall accelerate the demand for agile and flexible work styles and further push the adoption of communication services that tend to improve work-life balance. On the flip side, telecom regulators worldwide have postponed their plans of 5G spectrum auction amidst the global pandemic. This is expected to have an impact on the commercialization of commercial 5G standalone deployments and revenue generated through 5G services. The ongoing pandemic has forced telecom operators worldwide to test their network resiliency and revisit their planned investments, especially in 5G technology. The report will account for Covid19 as a key market contributor.