eBooks Will Account for 50% of All Books Sold by 2016By
There is no disputing the growth and success of the ebook market in recent years. Pricewaterhouse Coopers’ Global Entertainment and Media Outlook recently conducted a deep industry inquest on how the global ebook market will look in the next few years.
In 2011, ebook sales accounted for 19 billion dollars in the USA and by 2016 that figure should increase to 21 billion dollars. In the global market, e-textbooks and ebooks should account for a staggering 48 billion dollars in sales.
The growth of e-readers and tablets as a method to consume digital content is growing. eBook sales are not just limited to Canada and the USA, but also emerging Asian markets like Japan, South Korea, and China. Kobo and Sony are viciously jockeying for position in Japan, which is one of the most productive markets in Asia. South Korea is adopting digital reading quicker than others, with ebooks accounting for over 24% of all books sold. Many ebook companies are looking towards China as an avenue for future expansion, but as foreign entities, they find it hard to penetrate the country effectively.