With the rise of ebooks comes the decline in paper books, or so it seemed. It wasn’t long ago that print book readers were told that the ebook industry would be their doom. But the rise of e-reading began long ago.
For example, in a Pew Research Center study, 17% of American adults said they read an ebook in 2010, but by February 2012, the number had increased to 21%.
For Americans aged 16 and above, 43% had read an ebook and other long-form content like journals, magazines, etc., on any e-reader, tablet, PC, or a smartphone in 2010. There was even a spike in e-readers and table ownerships during the holiday gift-giving season as the number of ebook readers grew.
But that was about nine years ago. What about now?
According to Research And Markets, the value of the global ebook market was at $18.13 billion in 2020. And it’s expected to reach $23.12 billion in 2026.
Key Factor Driving The Global eBook Market.
There are numerous technical developments and sophisticated reading devices like e-readers that offer a similar experience to print books. That is the central element driving the global ebook market.
The worldwide demand for ebooks increases as more people use various smartphone advancements and other ebook features.
As long as they have internet connections, everyone can access a wide range of ebook libraries via online services. And that means low-cost options compared to the traditional method of delivery.
Besides, publishers and libraries are getting more responses for ebooks as well. For example, one of the big publishers, Hachette Book Group, generated EUR 2.38 billion in 2019. That was a 5% increase following the previous year.
Furthermore, the government’s environmental protection focuses on saving trees to decrease paper use. And that increases the demand for ebooks. By the way, if you’re an ebook lover, there are several ways to recycle your textbooks to save the environment.
However, even with the rise of e-reading, print books just won’t die. In fact, they are becoming popular.
Dead Tree Editions Won’t Accept Defeat; They’re Picking Up Steam
E-readers, tablets, and smartphones have been reaching millions of people over the past several years. And many predicted the doom of printed books in the past. However, even though people use their electronic devices to read, they still depend heavily on ink and paper when reading books.
Research by Statista shows that printed books have a wide margin worldwide when compared with ebook penetration.
For example, in the U.S., where ebooks are popular, 23% of people said they purchased an ebook last year. That is low compared to the 45% who bought a printed book in the same year.
So what does it all mean?
The Future Of E-reading
All these statistics and surveys tell a story. eBbooks and e-reading are rising and growing in popularity. So even though there was a 4.5% decline in the first quarter of 2019, print books are here to stay. And ebooks will not be the one to cause its doom.
Instead, ebooks are (or can be) complementary products that should eventually benefit the publishing industry.
SurveyMonkey surveyed to find out whether ebooks or print books were the future of reading.
The results were quite interesting. About 50% said they preferred reading both ebooks and print books. However, 40% chose print books as their second choice, and their reason was quite apparent: comfort, convenience, and nostalgia were the primary reasons for choosing print books.
75% own an e-reader because it’s convenient. Also, 45% believe that ebooks will eventually become the most popular form of publishing.
Should you decide to migrate from print books to ebooks, we recommend selling your books online. Then, at least, you get a stress-free way of getting your money back.
Advantages Of E-Reading
E-reading comes with numerous advantages. Perhaps the most valuable part of e-readers is to help people with Parkinson’s disease maintain and improve cognitive function. Apart from that, e-readers are lightweight and portable, which makes them easy to take around. And you don’t have to stress about the storage limit.
A single device is all you need to read thousands of books. You can download and store for later use and access your books wherever you find yourself. Some e-readers come with even offline accessibility so that you can access your books without an internet connection.
That’s not all; e-readers give you constant updates, shareable content, Augmented Reality experience, interactive elements, Read Aloud features, etc.
Final Thoughts
The rise of technology has expanded our reading choices, allowing us to connect with the stories we read in different ways. In addition, E-readers are gaining popularity which shows that people are searching for more convenient ways to read their books.
But in the end, you decide which format suits you best. You can weigh the pros and cons or go with your preference. You still get to read your book and enjoy it.