According to a recent report by Future Market Insights (FMI), the book publishers market is expected to surpass a valuation of US$ ~ 89,983.6 Mn in 2021 and at a CAGR of approximately ~3.9% through 2032.
To a large extent, many leading ecommerce giants like Amazon Inc., eBay Inc., and MyBookStore.Com, are offering platforms to sell books on their online portal. Moreover, big book publishers are trying to eliminate the threat of local booksellers by making them partners in the business, which will help the local booksellers get more business. These factors are creating impressive prospects for the book publisher market growth. Furthermore, expansion of online business has been increasing the number of potential buyers, because it reduces the costs and saves energy compared to going to the physical stores.
Sales of books have been picking up pace globally with the growing penetration of Bookstagrammers and BookTubers on the internet. This is expected to help in the growth of the book publishers market. Online visibility to publishing books is surging at a high pace, enabling growth in the market.
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Key Takeaways from the Book Publishers Market Study
· North America dominated the market and held the largest revenue share of in 2021 on account of the presence of a large number of independent publishers and publishing companies.
· In terms of books type, the friction books are estimated to account for the highest value share in the book publishers market.
· East Asia and South Asia are estimated to dominate the book publishers market.
“With emergence of social and technological changes, the rivalry between firms in the global book publishers market is becoming more intense. A few players in the market are creating a seed fund instead of buying author services, while others are partnering with the newly acquired author services company or merging with a competitor,” says an FMI analyst.
Impact of COVID-19 on the Market
The outbreak of novel coronavirus has changed the books market. In 2020, during the first lockdown, people are restricted to going outside and also closer to books shops affects the sales of the hard copy of books. However, the demand for e-books and audiobooks are increased, as it is the best option for the reader to switch towards new trends. Furthermore, a system like immersive learning and online education drives the market growth. The introduction of the latest software, hardware and educational materials is assumed to create a platform for a reader with a real time experience. During the pandemic, many people developed a habit of reading books
and novels as people have vacant time after doing all their work. But further the rapid inclination towards e-books and audio books is likely to impact market growth.
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Who is winning?
Leading manufacturers of books are focused on aggressive promotional strategies and advertisements that have driven sales growth of books globally. Major players present in the book publishers market are IDW Publishing, Morris Publishing, MARVEL, Scholastic Inc., Penguin Random House, Houghton Mifflin Harcourt., Pearson, MacMillan Publishers, Simon & Schuster, Inc., HarperCollins Publishers, Bertelsmann SE & Co. KGaA, Hachette Book Group, Planeta, and China South Publishing & Media Group Co., Ltd. among others.
Get More Valuable Insights
Future Market Insights, in its new offering, provides an unbiased analysis of the global book publishers market, presenting historical demand data (2017-2021) and forecast statistics for the period from 2022-2032. The study divulges compelling insights on the book publishers market based on the books type (cookbooks, history, science friction & fantasy, religion & inspiration, fiction, mystery, romance, and others (horror, comic, biographies etc.)), sales channel (supermarket/hypermarket, retail shops, specialty stores, online retailers and other sales channel) across each of the seven areas across seven major regions.
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About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
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