The COVID-19 pandemic has dealt a major blow to the paper industry in the book and newspaper industries, with millions of consumers in isolation turning to digital media and online content.
According to Finaria, demand for online content is projected to grow 9% this year over last year. If this forecast comes true, the global electronic publishing industry – ePublishing – will reach $ 27 billion in revenue. Sales of e-books alone are expected to generate $ 15.6 billion for publishers this year.
In addition to e-books, the e-publishing market includes digital editions of consumer and business magazines, and electronic documents in the form of online versions of daily or weekly newspapers. This type of digital content provides customers with several benefits. It is easy to buy and can be downloaded directly to the memory of the reader. Entire libraries can be stored on a network without taking up physical space and fundamentally eliminating the problem of transportation. In addition, ePublishing is an attractive option for publishers to save on printing, logistics, and sales costs.
Analysts believe that the market will continue to grow in the coming years. Sales will reach nearly $ 32.3 billion by 2025.
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