Books & Reference Market Revenue Drivers, Growth Opportunities, Value Chain Analysis and COVID-19 Impact Insights, 2028
“The global books and references market size was valued at USD 6.6 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 14.1% from 2021 to 2028.”
The global Books & Reference Market research report provides complete insights on industry scope, trends, regional estimates, key application, competitive landscape and financial performance of prominent players. It also offers ready data-driven answers to several industry-level questions. This study enables numerous opportunities for the market players to invest in research and development. Market Overview: 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 apps across the globe. A surge in the adoption of digital content of e-learning books from the consumers of India is further refueling market growth. Books And References Market Report Highlights
The Asia Pacific made the largest contribution to the market and accounted for a revenue share of over 50.0% in 2020. This can be credited to the rising demand for virtual learning-based audiobooks 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 google translate oriented e-book products from the consumers of 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 economies such as China and India to adopt iOS-based Apple books In the 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
Growing demand for reading subscription services in the Asia Pacific is refueling market growth. Increasing demand for digital access to children's comics across the globe is anticipated to boost the market growth. Cloud technology-based digital apps and the availability of several online books on the platform of google play store and apple iOS store are propelling the market growth. Click The Link Below To Request Free Demo of Books And References Market: https://www.millioninsights.com/snapshots/books-references-market-report/request-demo Key players are focusing to provide eye-care-oriented e-book apps. Several companies are providing virtual digitalize access to magazines, books, and newspapers. The surge in the 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 stores. Jailbreaking for customization features is refueling the market growth. A properly integrated app, a more secured Apple iOS Store, and a technologically advanced audiobook feature also reflect the significant market growth during the forecast period. The Asia Pacific dominated the market and accounted for a revenue share of over 50% in 2020 due to the growing demand for downloadable e-book options from the consumers of China and India. Moreover, the rising demand for technology-based e-magazines in Japan is anticipated to boost the market growth.
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