Ebooks are becoming increasingly popular options for many people. They are a smart choice for the environment and are easily accessible at any time from any place. While there is still a demand for printed books, ebooks will probably never completely replace printed books. The demand for ebooks exists and is growing.
Growth of the Ebook Market
In the past seven years, there has been tremendous growth in ebooks. The International Digital Publishing Forum makes it their business to track such growth. Their research shows that first quarter 2002 wholesale ebook sales of less than $2,000,000 in the United States grew to over $16,000,000 in the fourth quarter of 2008. Retail sales are estimated to be double these numbers. Japan’s ebook market in 2006 reported sales of over $58,000,000 USD for mobile phone ebooks and $68,000,000 USD for online ebook sales.
Demand for Ebooks
In today’s digital age, more and more people are getting information from portable media devices like their Kindle, iPod, laptop and even their cell phone or PDA. Ebooks are the perfect complement to such devices. Because most people who have these electronic items are rarely without them, it makes buying ebooks and accessing them fast and easy.
There is great potential in this market, as one of the most common complaints by ebook buyers is that there is simply not enough selection available. According to a 2006 survey, users of ebooks often find that when they search for a particular title that it is unavailable in the format they prefer. In addition, there are presently technology problems in regards to the format used for reading different ebooks. There is no industry standard and this is holding back the market’s growth. Ebook sellers who offer their books in a multi-platform format have a distinct advantage over other companies in the marketplace. Reducing or removing digital rights management would greatly help growth also.
Potential markets to expand in ebook selling:
- people living abroad, for whom shipping books is costly
- travelers who wish to carry multiple books with them
- individuals who are physically handicapped and don’t travel well to bookstores
- those who want to read at night without disturbing their partner
- researchers who need access to multiple books simultaneously
Market Acceptance for Ebooks
By looking at the steady growth of ebook sales worldwide, one can see that market acceptance of ebooks is growing. While initially rejected for multiple reasons, the convenience and ease of ebook use are making them a more popular option for many people. It is unlikely that ebooks will completely replace print books in our lifetime. However, when and if issues like digital rights management and multi-platform formats are standardized, market acceptance will skyrocket and sales will grow at an exponential rate.
In the multi-billion dollar industry of book sales, ebook sales to date are small, but growing. In 2007, the Association of American Publishers reported sales of $25 billion. Ebook sales statistics show that the market acceptance of this new product is nowhere close to its ultimate potential. The book industry itself is huge; therefore the potential for revenue in ebooks is also huge. Ebooks are already very popular with a certain segment of the population. With time and some changes to laws that are likely to happen, ebooks are sure to become an even more popular alternative to printed books and those who are a part of the industry will benefit greatly.
http://www.tedgoas.com/docs/goasThesis.pdf
http://www.openebook.org/doc_library/surveys/IDPF_eBook_User_Survey_2006.pdf
http://www.openebook.org/doc_library/industrystats.htm
http://www.publishers.org/main/IndustryStats/indStats_02.htm
