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The Books Market size is estimated to grow at a compound annual growth rate (CAGR) of 5.43% between 2022 and 2027. The size of the market is forecast to increase by USD 33.21 billion. The growth of the market depends on several factors, including using interactive books for early literacy, the growing popularity of eBooks, and the growing use of gamification for interactive learning.
This books market research report extensively covers market segmentation by type (adult books, higher education course materials, K-12 instructional materials, children's books, and others), distribution channel (local bookshops, online, speciality stores, and retail shops), and geography (North America, Europe, APAC, South America, and Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges.
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The growing use of gamification for interactive learning is notably driving market growth, although factors such as digital addiction may impede market growth. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The growing use of gamification for interactive learning is notably driving market growth. Gamification in books is defined as the integration of game design fundamentals and subject concepts that enhance students' conceptual and practical knowledge. It involves pedagogical approaches, strategies, and methodologies. Furthermore, it is highly used to motivate students to stay focused on the story or subject concepts. Due to the increasing preference for online interactive book tutorials and the growing adoption of smart devices, such as smartphones, gamification has become the most efficient and convenient way to learn subject concepts interactively.
The proliferation of smartphones and the increasing penetration of the internet have raised the demand for mobile learning books. The popularity of mobile learning interactive book vendors has encouraged other vendors, such as content creators and platform providers, to optimize their products for mobile accessibility. Moreover, eBooks through mobiles are less expensive to design and maintain compared with a full-scale learning interactive eBook for children. Hence, the popularity of gamification-based interactive learning will boost the global market during the forecast period.
The growing e-commerce and m-commerce market is an emerging trend in the market. B2B and B2C businesses have grown tremendously as global trade has increased rapidly due to the impact of globalization and the liberalization of economic policies. The growth in trade can also be underpinned by the increased penetration of smart devices and the internet globally. Thus, companies are also changing their methods of product and service sales according to customer expectations.
The gradual shift in customer spending and shopping habits has amplified the growth potential of the e-commerce market. The growth of information and communication technology, artificial intelligence, and other modern technologies have made it easy to reach out to and attract customers. Various companies in different industries increasingly use e-commerce to boost their sales, thereby creating lucrative growth prospects for key market vendors. Moreover, the constructive steps taken by key vendors to collaborate with major online retailers will enhance their market shares. Hence, the growing adoption of e-commerce and the m-commerce industry will boost the growth of the market in focus during the forecast period.
The growing digital addiction is a major challenge impeding the market. With the increasing use of smartphones and other wireless devices, there is a growing concern regarding digital addiction. Parents, teachers, and government authorities are concerned regarding the time children spend on such devices, which have reduced their physical activities and are causing various health issues such as obesity, anxiety, and depression.
Furthermore, the results of increased time spent in front of the screen directly impact the time spent on other activities such as eating, reading, writing, and physical activities. There are increased chances of becoming obese due to the limited physical activity involved in screen time, and often, it is combined with munching on high-calorie snack food. In addition, people have a hard time falling asleep. Such negative effects on health can negatively impact the growth of digital books and the adoption of technology by vendors in the global market during the forecast period. Therefore, these factors can hinder the global market growth during the forecast period.
The report includes the market's adoption lifecycle, covering the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Books Market Customer Landscape
Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Georg von Holtzbrinck GmbH and Co. KG - The company focuses on the newspaper and consumer book division and the science and education division. The key offerings of the company include books.
The report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:
Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
The market share growth by the adult books segment will be significant during the forecast period. The adult books segment will show significant growth opportunities during the forecast period as the curricula of technical and non-technical online courses comprise digital educational publications. This segment is witnessing an increased demand from both classroom-based and virtual learning environments.
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The adult books segment was valued at USD 35.06 billion in 2017 and continued to grow until 2021. Online courses have broadened the customer base for digital publications. Adult books offer various advantages to college students as they include features, such as embedded audio or video files and communication tools that facilitate interaction between the faculty and students. Furthermore, adult books meant for professional or corporate readers are generally bulky and not convenient to carry around. Also, an entire book must be purchased to access a small amount of information, which is not cost-effective. Hence, digital platforms make accessing such information easier for readers. Additionally, providers of adult books are not limiting themselves to an app but have developed an interactive content creation tool. This tool further helps to publish adult books on multiple devices, such as iPads and tablets. Therefore, the abovementioned factors will lead to the growth of the adult books segment during the forecast period.
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APAC is estimated to contribute 38% to the growth of the global market during the forecast period. Another region offering significant growth opportunities to vendors is North America. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
North America is the dominating market in terms of revenue contribution toward the global market. Looking at the technology-based education landscape, the US is the breeding ground for innovative educational solutions. This applies to modifying every aspect of education, be it e-books or software solutions. For instance, Apple introduced interactive textbooks along with the iBooks Author software in July 2020. Schools and institutions across the nation embrace these kinds of textbooks. Additionally, Canada also portrays the adoption of such textbooks by institutions. Global education leaders, such as Pearson, cater to the varied needs of institutions. Pearson offers various learning technologies, such as the Canadian Learning Exchange, Cogneeto, PowerSchool, MyLabs, and interactive textbooks.
Furthermore, the demand for education hardware products is also on the rise, and this trend is expected to continue during the forecast period. This can be attributed mainly to schools' increased emphasis on science, technology, engineering, and math (STEM) education. The increased use of hardware, such as interactive whiteboard software (IWB), tablets, and simulation-based learning hardware by schools, is propelling the adoption of education hardware systems. These developments induce the culture of online learning and hence, are expected to accelerate the adoption of such textbooks. Hence, all such factors will boost the regional market growth during the forecast period.
The COVID-19 pandemic in 2020 hindered the growth of the publishing industry in the region, owing to the imposition of total or partial lockdowns that led to numerous cancellations and postponement of book or store launches. However, various companies employed new strategies to deal with the impact of the pandemic and recover the market in focus. The primary strategy was to launch eBooks and digital content on the internet, which helped to revive the growth of the regional market. Furthermore, in 2021, the regional economy recovered due to the expanding population of vaccinated individuals and the normalcy of lockdown restrictions. Therefore, the increasing adoption of online channels and recovering regional economy will contribute to the growth of books in the North American market during the forecast period.
The books market research report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
Books Market Scope |
|
Report Coverage |
Details |
Page number |
179 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 5.43% |
Market growth 2023-2027 |
USD 33.21 billion |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
4.96 |
Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
Performing market contribution |
APAC at 38% |
Key countries |
US, China, Japan, UK, and Germany |
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
Key companies profiled |
Aleph Book Co., Bertelsmann SE and Co. KGaA, Bloomsbury Publishing Plc, Coordination Group Publications Ltd., Georg von Holtzbrinck GmbH and Co. KG, Idea and Design Works LLC, McGraw Hill Education Inc., Morris Publishing, News Corp., Oxford University Press, Pearson Plc, RELX Plc, Roli Books, Rupa Publications India Pvt. Ltd., Scholastic Corp., The Bureau International de I Edition Francaise, The Walt Disney Co., Thomson Reuters Corp., ViacomCBS Inc., and Vivendi SE |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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