Off-the-shelf market research publisher Global Industry Analysts, Inc. (GIA), US, has released a global report on the e-readers market. According to the report, the world e-readers market is forecast to reach 53.87 million units by the year 2017.
The research report, titled "E-Readers: A Global Strategic Business Report", seeks to provide a comprehensive review of market trends, issues, drivers, company profiles, mergers, acquisitions and other strategic industry activities. It provides market estimates and projections for major geographic markets.
E-readers are seen to have emerged as the most popular device in the consumer electronics world over the past couple of years. The growing popularity of these handy devices is pushing the book, magazine and newspaper publishing industries to redefine their existence in this digital age and in the aftermath of economic turmoil. Although sales of e-books presently account for only a small portion of the overall book publishing market, with the passage of time, this segment is forecast to emerge a mainstream market. While e-book readers or e-readers have been around since the start of the millennium, the market picked up momentum only in the year 2007, hot on the heels of Amazon's Kindle, which advanced the concept by allowing books to be wirelessly downloaded rather than plugging into a computer.
The successful launch of the Kindle started a pulsating race for e-book reading devices in the market, resulting in the launch of several new products in ensuing years, according to the GIA report. The emergence of e-paper displays is also stimulating growth of e-readers by offering low power consumption and high contrast. As WiFi, 3G wireless and other connectivity becomes more of a standard feature with e-readers, rapid price erosion and growing competition from the Apple iPad, content providers and manufacturers are toiling to develop new functionality and features to these devices.
The swamp of new material available for e-book reading devices and the smaller form factor helped e-books and e-readers to reach a new high in the years 2008 through 2010. The sudden surge in interest is compelling e-readers, e-ink and other producers to innovate at a rapid pace in an effort to match consumer expectations.
As stated by the new market research report, Asia-Pacific and the US together account for a lion's share of the global e-readers market. Though e-books mark a highly innovative phase in the book-publishing domain, there is still a long way to go before e-books graduate to being viable market products that deliver the expected experience to readers, the report further says. Technology remains to be further developed and standards remain to be put in place for ensuring an easy access and reading experience. Nevertheless, a bright future is forecasted for e-books, with appropriate marketing strategies and adroit audience targeting promising to infuse vigour into growth patterns.
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