World Market for Book Publishing to Reach $169.6 Billion by 2015, According to New Report by Global Industry Analysts
Driven by the government's rising emphasis on education, higher enrollment in schools/colleges, rise in readership, and growing number of professionals in the modern workforce, world market for book publishing is forecast to reach $169.6 billion by the year 2015.
San Jose, CA (PRWEB) April 15, 2009 -- Book publishing market, which represents a huge market worldwide, is chiefly fostered by voracious readers, who make up the general consumer base and specific consumers such as students and professionals, and institutional buyers such as libraries. The book publishing market is poised to encounter a mixed bag of challenges and opportunities in the upcoming years. Key challenges are manifested in the form of the advent of information technology, shifts in consumer preferences, and hobbies towards other electronic forms of entertainment, changing business models, and the current downturn in the world economy. Despite the challenges, the book publishing market will stand enthused by market fundamentals, such as, conducive demographics, such as, students seeking educational books, reference volumes and textbooks, parents and governments focusing more on the spend on education, increasing number of women and the middle aged continuing with and reviving their reading habits, professionals in various industries seeking books that help them with their professions, parents wanting to read out to their children from books, and individuals wanting books that assist in self-improvement.
Baby boomers and educated, affluent, and middle aged men and women will remain a lucrative consumer base in the consumer books market constituted by adult, juvenile, religious and mass-market paperbacks. Affluent and educated young parents constitute a not so small consumer base for juvenile books. As stated by the recent report published by Global Industry Analysts Inc., demand for consumer books worldwide is forecasted to grow the fastest in Asia-Pacific over the years 2006 through 2015. Across almost all the markets worldwide, textbooks comprising of Elementary & High School Books (Elhi) and College Books will be the prime driver of growth in the book publishing industry. The growing importance and need for education and the governmental, parental and school-level initiatives to help the children through with their education explain the interesting trend. Promising opportunities for growth emanates from this segment, especially with newer modes of publishing, such as, e-books, roped in by publishers to ride on the waves of change.
Although initially looked upon as a threat to the traditional books in print, e-books and audiobooks are presently forecast to help drive incremental growth in the book publishing industry, in contrast to the earlier expectations of a possible cannibalization of sales, and revenues in the traditional print market. Despite the burst in the e-books bubble, e-books undisputedly are a publishing revolution. Publishers worldwide have leveraged the e-books opportunity to keep pace with the new generation of readers on-the-go. Although the market failed to meet overly optimistic expectations of the industry gurus, the concept of e-books has nevertheless helped change the way books are read, shared, discussed, publicized, and distributed. Given the ability of e-books to address specific consumer requirements better than books in traditional paper, and print, there exists robust potential for future growth if these books are aimed at specific lucrative niche readers. E-versions of textbooks and reference books hold the promise of turning into a market success.
Key players dominating the market include Arcade Publishing, Avalon Publishing Group Inc, Barnes & Noble Inc., Bertelsmann AG, Cambridge University Press, Harcourt Inc., HarperCollins Publishers, Houghton Mifflin Company, Hachette Book Group USA, Informa PLC, John Wiley & Sons Inc, Macmillan Publishers Ltd, McGraw-Hill Companies Inc., Pearson PLC, Reed Elsevier Group PLC, Scholastic Inc., Simon & Schuster Inc., Thomson Reuters, and W. W. Norton & Company, among others.
The report titled "Book Publishing: A Global Market Report" published by Global Industry Analysts Inc., provides a comprehensive review of the industry, market trends, issues and drivers, product overview, profiles of major players, and recent industry activity. The study quantifies latent demand potential in key product markets, such as, Consumer Books, Text Books, and Professional Books. Quantitative analysis is also provided for major geographic market verticals including the United States, Canada, Japan, EMEA, Asia-Pacific, and Latin America.
For more details about this research report, please visit http://www.strategyr.com/Book_Publishing_Market_Report.asp
About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a reputed publisher of off-the-shelf market research. Founded in 1987, the company is globally recognized as one of the world's largest market research publishers. The company employs more than 700 people worldwide and publishes more than 880 full-scale research reports each year. Additionally, the company also offers a range of more than 60,000 smaller research products including company reports, market trend reports and industry reports encompassing all major industries worldwide.
Global Industry Analysts, Inc.
Telephone 408-528-9966
Fax 408-528-9977
Web Site http://www.StrategyR.com
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