Are e-books is an industry or a trend, is a widely discussed topic these days. The emergence of modern electronic devices such as computers, tablets, and smartphones lasted a major impact on print media. The E-books era is engulfing the classical-styled printed books. Readers prefer E-books over printed books. There are multiple reasons which we will discuss here.
Rise in the number of portable readable devices
The digitization of books over the last few years has resulted in the development of a few e-book readers, which allows for easy reading and on-the-go viewing of books. Among these devices, most of the e-readers are connected to the cloud, making it easier for consumers to access the data required. This trend has significantly helped the growth of the e-book industry. Consumers nowadays are well-versed with the features of portable e-readers, which in turn fuels the demand for new devices with even more advanced features.
Various competitors offering the same product such as e-readers, tablets, and e-book readers usually compete on the basis of their quality of service.
The Fragility of books
E-books are emerging as an industry that has engulfed printed books. If we talk about printed books, it has to be bought and held in your hands, and you have to make sure that no harm comes to it. You have to take care of it. This is only possible if it’s bought in the original form and you are required to pay the price for buying it. E-books are far cheaper to buy in the original form, and you can protect them from damage while in your possession, by purchasing them in the original form as well.
The Cost of books
E-Books are a significantly cheaper alternative to physical books. With e-books, you will not have to pay more than ten cents for a given book. With the rise in digital content, the cost of physical books has decreased significantly. Physical books usually cost up to 20-30 dollars, which goes up to over 100 dollars with shipping and handling costs. This makes e-books a more affordable alternative to buy, especially among those who have been deprived of getting books in their hands due to budget constraints.
E-books have definitely made the lives of readers easier. You don’t need to get a physical copy of the book to use it. If you cannot afford to buy the book, you can borrow it from the library. You can also download e-books for free by paying a reasonable fee.
E-books are becoming a trend
In 2010, only 0.3% of US readers read e-books, however by 2014, this number rose to 23.2%. By 2016, 51% of readers read e-books. And now in 2021, this number has jumped to a very high digit. These numbers have surpassed the sale of printed books. Also, the share of digital readers is expected to increase to 57% in 2017 from 53% in 2016. However, e-book sales for major publishers were lower in 2015 than 2014.
Growing media demand
E-books have provided convenience to readers by providing easy access to their favorite literary works on any digital device, thus, widening their exposure to the digital world. As demand for reading increases, publishers and readers will continue to gain an upper hand in the market.
E-books are sustainable industry?
But is it a sustainable industry? As it is said that the best things in life are easy to obtain, it seems that e-books are more sustainable than books. Many industries in the past have been highly criticized for their unsustainable practices. For example, the wine industry.
Wine is highly frowned upon by environmentalists. Wine is a highly perishable food product, and spoilage is a great concern for farmers. This problem is likely to be much more intense in the future. If winemakers are unable to manage their products properly a new problem may arise. This problem would also lead to decreasing demand for wine. Especially if the industry struggles to improve its waste reduction strategies. This phenomenon may affect the growth of the industry.
Similarly, the e-book industry could also struggle with its sustainability.
Conclusion
Key companies profiled in the global e-book market report include McGraw Hill Financial Inc., Pearson plc., Houghton Mifflin Harcourt, and HarperCollins Publishers. The report provides an overview of key trends, drivers, restraints, and opportunities. The report includes an analysis of the competitive scenario of the e-book market across different geographic regions including North America, Europe, Asia Pacific, Middle East, and Africa, and Latin America. The coming era will decide the sustainability of e-books as an industry.
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