Global Online Book Services Market Overview 2033 : Forecasted Market Size And Growth Rate | Walmart Inc., Amazon.com Inc., Apple Inc., Google LLC, Reliance Industries Limited, Tencent Holdings Limited

"The Business Research Company has updated its global market reports, featuring the latest data for 2024 and projections up to 2033

The Business Research Company presents an extensive market research report on the Online Book Services Global Market Report 2024, furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.

Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.

Market Sizing:

The online book services market size has grown strongly in recent years. It will grow from $21.78 billion in 2023 to $23.41 billion in 2024 at a compound annual growth rate (CAGR) of 7.5%. The growth in the historic period can be attributed to Internet accessibility expansion, changing consumer preferences, global e-commerce boom, convenience and accessibility, rise of e-reading devices.

The online book services market size is expected to see strong growth in the next few years. It will grow to $32.01 billion in 2028 at a compound annual growth rate (CAGR) of 8.1%. The growth in the forecast period can be attributed to proliferation of mobile devices, subscription models and reading platforms, globalization of book markets, environmental awareness. Major trends in the forecast period include collaborations with authors and publishers, focus on accessibility and inclusivity, gamification of reading, integration of virtual reality (VR) and augmented reality (AR), environmental sustainability initiatives.

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Key Market Players:

Major companies operating in the online book services market report are Walmart Inc., Amazon.com Inc., Apple Inc., Google LLC, Reliance Industries Limited, Tencent Holdings Limited, Bertelsmann SE & Co KGaA, ViacomCBS Inc., Penguin Random House LLC, Pearson plc, Hachette Book Group (Lagardère SCA), Follet Corporation, HarperCollins Publishers LLC, John Wiley & Sons Inc., News Corporation (HarperCollins Publishers LLC), Barnes & Noble Inc., Simon & Schuster Inc., Macmillan Publishers Ltd., Scholastic Corporation, Smashwords Inc., Scribd Inc., ThriftBooks Inc., Powell's Books Inc., Elliott Management Corporation, Blurb Inc., BookBaby Lulu Press Inc., Kobo Inc., Waterstones Booksellers Limited, Ingram Holdings Inc.

Market Drivers:

The growing internet user base is expected to boost the growth of the online book services market going forward. An internet user is an individual with the capability to access and utilize the internet. The online book services market experiences substantial growth with the increasing number of internet users, as the expanding audience seeks digital books and e-reading platforms for convenient access to a diverse range of literature. For instance, in November 2022, according to a report published by the International Telecommunication Union, a Switzerland-based specialized agency, an estimated 5.3 billion people, accounting for 66 percent of the global population, will use the Internet. This reflects a 6.1 percent growth rate in 2021. Therefore, the growing number of internet users is driving the growth of the online book services market.

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The online book services market covered in this report is segmented -

1) By Products: Education, Trade, Science, Technology, Medicine
2) By Application: Household, Institutional
3) By End User: Teenagers, Adults

The report answers the following questions:
What are the primary factors propelling the market during the projected period?

In which region is the most substantial growth expected?

Which trend will take center stage in the upcoming period?

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