Market Trends of E-Reader Industry
Emerging Trends in the E-Learning is Expected to Drive the Market
- The E-learning industry will most likely benefit from the growing popularity of distance learning and the increased use of these services on smartphones, tablets, other mobile devices, and wearable technology. These variables open up various growth opportunities for the E-learning and services businesses. Schools and training facilities are incorporating smart technology into E-learning environments rather than using the traditional blackboard method. Different methods, such as smart learning, are being used at the university level to give alternative pathways and possibilities for students to build relevant and useful skills in line with industry demands. Such trends toward E-learning are expected to drive the studied market.
- Qatar's National e-Learning Portal offers online courses on various information technology and business disciplines. It has over 2,500 different courses to choose from and flexible learning. The e-Learning Portal is already used by 24 organizations and 37 small and medium businesses in Qatar, with over 4,000 courses completed. Further, Hamad Medical Corporation, Doha Bank, and Qatar Petroleum were recognized for successfully incorporating courses available on the Qatar National e-Learning Portal into employment development plans by the Supreme Council of Information and Communication Technology. HMC was recognized as the top organization.
- The difficulty for course designers in mobile learning is building courses that do not require a large amount of data download. Information is shared via mobile devices in mLearning. Hence, eLearning modules must be tailored for small screens. More detailed information, complex visuals, or media that demand a lot of data or bandwidth should be allowed in eLearning courses. Bite-sized modules with one idea per screen, prominent buttons, and simple navigation are the ideal way to present information, and various vendors are expected to cater to this demand.
- Reskilling, on the other hand, entails learning or teaching new skills for a person to be qualified for a different job within the same firm or outside. Employees in those roles, for example, must be reskilled to manage that technology or transfer it into a completely different capacity when a job function is replaced by automation. More than one-third of firms (37%) now offer reskilling training, and nearly three-fifths (56%) expect to do so within the following year. The following are the most prevalent methods through which firms reskill individuals for new jobs: Coaching or mentoring (57%), job shadowing (41%), and on-the-job training (65%). Such developments are expected to drive the studied market.
- According to the Association of American Publishers (AAP), the E-book sales in the United States were estimated to be USD 1,000 Million. The proliferation of mobile devices, such as smartphones, tablets, and laptops in the market is expected to positively impact the growth of e-books in the market. According to Ericsson, in 2027, the number of estimated mobile/cellular subscriptions will account for 78 million in Western Europe and 69 million in Central and Eastern Europe. These numbers are expected to increase exponentially, which will create increased demand for digital reading subscriptions.
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North America is Expected to Hold Significant Share of the Market
- North America is expected to have a significant market share by capturing the maximum share during the forecast period. The rising penetration of connected gadgets such as smartphones, tablets, iPads, and others has generated a high demand for eReaders.Also, the technological advancements and the increasing ITC expenditure among area is anticipated to drive the market. Critical firms in this country are focused on establishing eReaders and eBooks to gain a competitive edge in the market. For instance, Rakuten Kobo Inc. launched an innovative digital reading technology device - 'Kobo Libra H2O'. This eReader is a 7-inch waterproof and lightweight device designed to give the end-user a better reading experience.
- The widespread availability and rising popularity of e-books are transforming the publishing industry, while the nature and scope of e-books changes differ significantly from company to company and genre to genre. Further, With interactive e-books and animated e-books, e-publishing businesses have enabled many publishers and authors to get their works to market faster and in an advanced way. The growing number of devices capable of providing digital media and the increasing internet penetration have allowed consumers to access media content of their choice, in terms of information, entertainment, or social activity, anywhere.
- The players in the region are strategically developing new marketing techniques to capture the market share. For example, Amazon provides e-books at a flat rate, special offers for Prime customers, and a self-publishing service for authors. Some consumers and publishers have been criticizing this closed environment, as they are suspicious that Amazon might dominate the segment. The Kindle Direct Publishing (KDP) service allows authors to self-publish books on the Amazon platform and earn money in as little as 24 hours. By making it easier and more approachable for authors, the company is expanding its e-book library. By making e-books accessible through apps for different devices, the company is increasing its e-book business.
- In July 2023, Overdrive is the most prominent digital distributor for public libraries, and they power audiobook and e-book collections of the vast majority of them. If libraries wanted many books by a bestselling author, they had to pay for each title individually. Each publisher has different rates; some books expire after a certain number of loans. The most popular method for libraries to buy audiobooks and e-books for their patrons is under the one copy, one user model. If a library buys a bestselling title, only one copy can be loaned out at a time. Larger library systems can ensure enough copies to meet the demand, while smaller branches can only buy a few copies.
- Similarly, recently, Amazon announced the launch of three new Kindle Paperwhite e-readers: the Kindle Paperwhite, Kindle Paperwhite Signature, and Kindle Paperwhite Kids. The models feature a new processor, a larger 6.8-inch screen, ten weeks of battery life, warm light support, and new USB-C charging.
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