The global books and references market size is expected to reach USD 17.9 billion by 2028, according to a new report by Million Insights. The market is expected to witness a CAGR of 14.1% from 2021 to 2028. The market growth is owing to the rising demand for in-built audiobook app across the globe. Surge in adoption of digital content of e-learning books from the consumers of India is further refueling market growth.
Growing demand for reading subscription service in Asia Pacific is refueling market growth. Increasing demand for the digital access for children comics across the globe is anticipated to boost the market growth. Cloud technology based digital app and the availability of several online books in the platform of google play store and apple iOS store are propelling the market growth.
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Key players are focusing to provide eye-care oriented e-book app. Several companies are providing virtual digitalize access for the magazines, books and newspaper. Surge in adoption of 5G network based smartphones across the globe will create lucrative opportunities for the global key players.
Apple iOS Store segment will register the highest growth rate over the forecast period. This can be credited to the growing demand for Excellent UI and fluid responsive iOS based store. Jailbreaking for customization features are refueling the market growth. Properly integrated app, more secured Apple iOS Store, and technologically advanced audio book feature also reflects the significant market growth during the forecast period.
Asia Pacific dominated the market and accounted for revenue share of over 50% in 2020 due to the growing demand for downloadable e-book option from the consumers of China and India. Moreover, the rising demand for the technology based e- magazines in the Japan is anticipated to boost market growth.
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Books And References Market Report Highlights
• Asia Pacific made the largest contribution in the market and accounted for revenue share of over 50.0% in 2020. This can be credited to the rising demand for virtual leaning based audio books from the consumers of China and Japan
• The google play store segment accounted for the highest revenue share of over 65.0% in 2020. This can be credited to the rising demand for the google translate oriented e-book product from the consumers of the Brazil and Saudi Arabia
• The Apple iOS Store segment is projected to witness a CAGR of 15.5% from 2021 to 2028. This can be attributed to the growing disposable income of the consumers of emerging economy such as China and India to adopt iOS-based Apple books
• In Middle East and Africa, the market is projected to witness a CAGR of 16.8% from 2021 to 2028. Soaring demand for portable e-book apps in South Africa is estimated to escalate market growth over the forecast period
Books And References Market Segmentation
Million Insights has segmented the global books and references market on the basis of marketplace and region:
- Books And References Marketplace Outlook (Revenue, USD Million, 2017 – 2028)
- Google Play Store
- Apple iOS Store
- Books And References Regional Outlook (Revenue, USD Million, 2017 – 2028)
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Central And South America
- Rest of Central And South America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
- North America
List of Key Players of Books And References Market
- Apple Inc.
- Barnes & Noble
- Google LLC
- Smashwords, Inc.
- Hachette Book Group
- Scribd, Inc.
- HarperCollins Publishers
Browse More Market Snapshots Available at Million Insights:
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• Major Appliances Market – The global major appliances market size was valued at USD 245.3 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 5.5% from 2021 to 2028.
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