Books and References Market Size, Share & Trends Analysis Report By Marketplace (Google Play Store, Apple iOS Store), By Region (North America, Europe, Asia Pacific, CSA, MEA), And Segment Forecasts, 2021 - 2028

Report Overview

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. This can be credited to the rising demand for digital audiobooks across the globe. Soaring demand for career, society and culture, nature and environment, and health, entrepreneurship-based e-books are refueling market growth. Moreover, the increasing demand for automatic theme-based book and references app from the consumer of China and India are further propelling market growth.

A surge in the adoption of virtual learning app across the Middle East & Africa is aiding the growth of the market for books and references. Moreover, the rising trend to adopt speed-reading apps across the globe is expected to bolster market growth. However, the higher cost of in-app purchases is hindering market growth. At present, key players are focusing to provide next-generation approach to manage and operate the digital content. Hence, the market is expected to perform significant market growth during the forecast period.

Growing investment from the Scribd, to provide reading subscription service coupled with increasing demand for unprecedented digital access for magazines across the globe is anticipated to boost the growth of the market for books and references. The growing demand in the U.S. for the several article references from trustworthy sources like the Wall Street Journal and the New York is driving the industry.

Pandemic had affected to a large extend for several industries. Financial crisis were amplified owing to the global shutdown. Global supply chain had strongly disturbed owing to the national lockdown enforced across the globe. The supply chain of the market had augmented new opportunities for digital content during the pandemic era. The growing demand for digital e-dictionary content from the consumers of China had propelled market growth. 

Shareable content of digital app, easy updates of the marketplace, vast array of online books app had gained the traction during the covid-19 pandemic. The rising concern for multimedia format product is refueling market growth. The key players of the market are approaching upstream integration for the digital app with the help of the android and iOS based platforms. Digital applications are reducing the shipping cost which will turn to refuel market growth.

Marketplace Insights

The Google Play Store segment dominated the market for books and references and accounted for the highest revenue share of 65.0% in 2020. The growing adoption of open source application-based android platforms across the globe is refueling the growth of the market for books and references. Updated operating system, easy-to-customize features, widgets and multi-tasking are set to provide the agility to the end-uses. Rising usage of books and references for business and fashion will turn to boost the growth of the market for books and references in the forthcoming years. Moreover, the rising trend to adopt digital content for the comics from the consumers of the U.S. and China will further enhance the segmental growth during the assessment period.

The others segment is projected to register significant market growth during the forecast timeline. This growth is owing to the increased focus of the Linux-based operating systems for the secured access of the apps from the consumer of China and Japan. The OSX platform is widely adopted in China for secure access to digital applications. Marketplace-oriented in-app payment modes are gaining traction during the assessment period. The simple and cleaner user interface, better integration for updated software and hardware, and minimal susceptibility to malware and security issues will contribute to enhance market growth.

Regional Insights

Asia Pacific dominated the books and references market and made the largest accounted share of over 50% in 2020 due to the growing focus for speed reading skills from the consumers of China and India. The rising trend in China is to adopt e-book apps with the feature of built-in access for several eBooks. The market share of India is driven by the growing demand for educational e-book content. Ease of accessibility of the digital e-book app with downloadable options will contribute to boosting market growth. Moreover, the rising demand for e-business magazines in Japan is anticipated to boost market growth.

Middle East and Africa is projected to witness a CAGR of 16.8% from 2021 to 2028. This can be attributed to the growing demand for better e-library management from the consumers of Saudi Arabia and South Africa. The emerging trend in Saudi Arabia to embrace translation featured based google playbooks. The growing adoption of portable digital content audiobook products in South Africa is estimated to escalate the growth of the market for books and references over the forecast period. Moreover, the growing demand for multiple user-accessible and augmented reality-based e-book app in Saudi Arabia is anticipated to boost market growth.

Key Companies & Market Share Insights

Companies' main focus is to provide unlimited access to e-books, audiobooks, and magazines. The prime key players are focusing to provide built-in audiobooks. Multiple companies are launching the all-in-one e-book app to provide virtual digitalize access. A surge in the adoption of cloud computing will create lucrative opportunities for the global key players. Some of the prominent players in the books and references market include:

• Apple Inc.
• Barnes & Noble
• Google LLC
• Kobo
• Smashwords, Inc.
• Hachette Book Group
• Scribd, Inc.
• HarperCollins Publishers
• Storytel

Books And References Market Report Scope

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2028. For the purpose of this study, Million Insights has segmented the global books and references market report on the basis of marketplace and region:

• Marketplace Outlook (Revenue, USD Million, 2017 - 2028)
  • Google Play Store
  • Apple iOS Store
  • Others
• Regional Outlook (Revenue, USD Million, 2017 - 2028)
  • North America
    • U.S.
    • Canada
  • Europe
    •  U.K.
    • Germany
    • France
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • Rest of Asia Pacific
  • Central & South America
    • Brazil
    • Argentina
    • Rest of Central & South America
  • Middle East & Africa
    • Saudi Arabia
    • South Africa
    • Rest of Middle East & Africa