Europe eBook Market – Growth, Trends, Impact of COVID-19 and Forecast (2022)
The European e-book market is estimated at 7,912.23 million in 2021 and is expected to reach USD 10,683. 39 million by 2027, registering a CAGR of 4.91% from 2022 to 2027. E-books are typically delivered via the Internet as downloadable files that can be read offline, live web pages that are to be read online, online or cached web pages that can be read offline.
New York, April 22, 2022 (GLOBE NEWSWIRE) — Reportlinker.com announces the publication of the report “Europe E-Book Market – Growth, Trends, COVID-19 Impact, and Forecasts (2022 – 2027)” – https:/ /www .reportlinker.com/p06271928/?utm_source=GNW
The widespread availability and growing popularity of e-books is transforming the publishing industry, while the nature and scope of changes to e-books differ greatly from company to company and genre to genre. other. With interactive e-books and animated e-books, e-publishing companies have enabled many publishers and authors to bring their works to market faster and more advanced.
The growing number of devices capable of delivering digital media and the increasing penetration of the Internet have made it possible for consumers to access the multimedia content of their choice, in terms of information, entertainment or social activity, regardless of or.
Easy access to a wide selection of e-book libraries through apps or online services is increasing internet consumption, resulting in inexpensive alternatives to traditional delivery methods. E-book related services, such as online lending, have also contributed to the acceptance of e-books across the region.
Various partnerships in the market drive the demand opportunities over the forecast period. For example, in December 2021, Youboox, owned by Nextory, launched Switch, a format that combines e-books and audiobooks. Swedish-owned French e-book streaming service Youboox has taken the ability to switch between audiobook and e-book to a new level through a partnership with Fyctia and the sound of Wave Audio.
The market is more focused on subscription extensions. For example, in November 2021, the Kobo Plus subscription program announced its availability in Italy. In collaboration with Mondadori Store, the subscription gives book readers unlimited access to thousands of Kobo eBook and audiobook titles for $9.99 per month. Digital content can be played on the Kobo apps for Android or IOS, and the Kobo Sage, Libra 2 and Elipsa can be used to read or listen to digital content.
At the onset of the COVID-19 pandemic, e-books became a boon to many readers who found themselves housebound and with enough time and little choice to purchase print books due to store closures and delivery delays.
Main market trends
Increased use of electronic devices
The increase in the number of portable readable devices such as smartphones and tablets is expected to be the main driver for the growth of the European e-books market. Consumers prefer e-books to books due to books’ fragility to wear, need for proper care, and high cost.
The digitization of books and their accessibility on the Internet should create an innovative environment to provide a real-time experience for readers. Additionally, the conversion of comic books into digital materials by popular publishers such as Marvel and DC should also allow people to explore e-reading.
The proliferation of mobile devices, such as smartphones, tablets, and laptops in the market is expected to drive the growth of e-books in the market. According to Ericsson, in 2027 the estimated number of mobile/cellular subscriptions will be 78 million in Western Europe and 69 million in Central and Eastern Europe. These numbers are expected to increase, which will create an increased demand for digital reading subscriptions.
The growing influence of technology coupled with the inclination towards digitization of a large population, mainly among the millennial and Gen Z category, can positively influence the growth of the e-book market.
Systems such as digital education and immersive learning are also expected to drive the market growth. The introduction of the latest hardware, software and educational content is expected to create an immersive environment to provide readers with a real-time experience.
UK dominates the market
The UK e-book market received a boost from the government’s removal of the 20% VAT ‘reading tax’ applied to digital titles in April 2020, potentially reducing the cost of a book 12 GBP electronics from 2 GBP. Following this, Amazon lowered the price of Kindle e-books in May 2020 to bring them into line with their physical equivalents, which have always been zero-rated.
According to the UK’s Secretary of State for Culture, Media and Sport, on average publishers have reported an around threefold increase in e-book consumption during the crisis, with some publishers reporting an increase of up to at 50%.
Additionally, according to bookseller.com, the UK’s six largest commercial publishers saw a combined 15.5% increase in e-book sales in pandemic-hit 2020, surpassing the previous high point in digital sales and marking the first time in seven years. that the group experienced a double-digit percentage increase. Hachette, Penguin Random House, HarperCollins, Pan Macmillan, Bloomsbury, Simon and Schuster collectively sold 54.5 million consumer e-books through UK retailers in 2020, up from 47.2 million, and the sextet has changed to 2019.
UK libraries are experiencing a significant increase in the number of e-books on loan. All library branches loaned out an additional 3.5 million e-books from March 13 to August 14, 2020. According to the libraries, chief executive of North Yorkshire County Council, e-book and audio increased by 78% and 3,000 new members have signed. à la carte during confinement.
The e-book market is fragmented with many independent authors and publishers, while some players hold a majority share of the market. Major market players are adopting strategies such as joint ventures and partnerships with smaller regional publishers to gain higher market shares.
March 2022 – Perlego, a British edtech company, has raised £38.2m in a Series B fundraising round to expand its textbook subscription service globally.
November 2021 – The Kobo Plus subscription program has announced its availability in Italy. In collaboration with Mondadori Store, the subscription gives book readers unlimited access to thousands of Kobo eBooks and audiobook titles for $9.99 per month. Digital content can be played on the Kobo apps for Android or IOS, and the Kobo Sage, Libra 2 and Elipsa can be used to read or listen to digital content.
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