06 April 2021
Visiongain has published a new report on E-Reader Market Report to 2031: Forecasts by Screen Size (Below 6 Inch, 6-8 Inch, 8-10 Inch, Above 10 Inch), By Display Technology (E-Ink, LCD), By Distribution Channel (Online, Offline). PLUS, Profiles of E-Reader Companies, and Regional and Leading National Market Analysis. PLUS COVID-19 Recovery Scenarios.
The global e-reader market was valued at US$ XX billion in 2019 and is projected to reach a market value of US$ XX billion by 2031.
An e-reader or an e-book reader is an electronic device which designed for the sole purpose of reading digital books or the e-books. Increasing availability and accessibility of e-books over the Internet and shift in preference among tech-savvy consumers are the factors driving the growth of the e-reader market. The market seeks growth opportunities from the Development in advanced display technologies and an increase in e-learning programs across educational institutes. However, the high cost of the device, rising penetration of smartphones and tablets, and lack of awareness among consumers are some of the factors hampering the market growth during the forecast period.
COVID-19 Impact on E-Reader Market
The spread of COVID-19 has affected the businesses and livelihood of the people at an unprecedented rate. Majority Countries have imposed nationwide lockdown to minimize the further spread of the virus. However, the pandemic had a moderate impact on the e-reader market. E-books witnessed huge demand among end-users for entertainment and study purposes during the leisure time in lockdown. The e-readers ensured the easy availability and accessibility of the books of various genres, even during the lockdown. Amidst the COVID-19 pandemic, people were focusing on taking up their leisure hobbies to cope with the furious pandemic times. However, the high cost of devices was the major factor which hampered the market demand. Moreover, increased competition from smartphones offered significant challenges to the market growth during the COVID-19 outbreak.
Increasing Availability and Accessibility of E-Books over the Internet
A considerable volume of books of various genres are published on the Internet. E-readers allow easy downloads of e-books of different genres which can be stored or accessed for later use. Moreover, the portability of the e-readers enables the users to carry them around and read whenever they feel. The e-reader also offers convenience to the students and employees by allowing access to the learning material at home or during the travel time. The offline accessibility provided by some of the e-readers enables the user to access the e-book in the absence of Internet connectivity. Thus, the increasing availability & accessibility of e-books is driving the growth of the e-reader market.
The Shift in Preference among Tech-Savvy Consumers
Technology and mobility have disrupted the lives of consumers across the globe. The digital age consumers demand personalized and relevant services with minimum time spent, thereby changing the way the consumers read books. Tech-savvy book readers have opted for e-books owing to the convenient availability and accessibility of e-books which is driving the market growth. The US is an early adopter of advanced technologies which has driven the adoption of e-books and e-readers in the region.
Development in Advanced Display Technologies
Display technology plays a vital role in conveying or displaying information. Since the commercialization of the very first Cathode Ray Tube (CRT), the display technology has undergone significant innovations. The new smart devices, such as e-readers demand display technologies with enhanced picture quality, size, and minimum power consumption. E-Ink and LCD are the two most commonly used technologies for the e-readers. E-Ink technology offers a paper-like display, consumes minimum power, and is brighter and lighter which reduces the stress on the eyes of the reader, thereby driving the demand and future growth prospects for the e-reader market.
Increase in E-Learning Programs Across Educational Institutes
Digitalization has transformed every industry vertical, and the educational sector is no exception. Governments of almost all countries are supporting and promoting e-learning programs as a part of the digitalization strategy. The educational institutes are increasingly adopting modern technologies such as online learning or e-learning, which helps the students to access the learning material and study at their own pace. The technology also enables the users to curate their courses as per their interests and learning objective, creating growth opportunities for e-readers. The e-readers offer flexibility to the students to access and curate the wide range of study material available whenever required, thereby boosting efficiency.
The e-reader market is highly competitive. The key market players are focussing on enhancing its research and development capabilities to develop innovative product portfolio, which helps them to obtain a competitive position in the market. Some of the companies profiled in the report include Amazon.com, Inc., Sony Corporation, Rakuten Kobo, Inc., Barnes & Noble, Hanvon Technology Co. Ltd, Ematic, Arta Tech, Pocketbook International SA, Wexler flex, and Bookeen.
May 2019, Barnes & Noble launched an e-reader named NOOK GlowLight Plus. The 7.8” waterproof e-reader has E-Ink display technology with 8GB storage space offering an enhanced reading experience to its users at home or on the go.
October 2018, Rakuten Kobo, Inc. launched a new e-reader named Kobo Forma. The Kobo Forma is a portable 8” display e-Reader with waterproof reliability and lightweight design offering a choice of landscape or portrait to the users.
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