What’s that? You thought the Internet generation was only interested in tweets and YouTube videos? As it turns out we still read books, but we’ll be increasingly turning to e-books moving forward. In fact, a forecast is calling for some huge growth in the e-book market.
As it stands, global e-book reader sales were recorded at about $1.9 billion last year with a total of just under 11 million units sold. According to Yankee Group, those numbers will increase to $8.2 billion and nearly 72 million units, respectively, by 2014. That’s a lot of growth.
The forecast also calls for a worldwide doubling of the installed base of e-readers each year (up to 127 million by 2014), even faster adoption by the European market (143% growth each year, compared to 19% growth in smartphones), and reductions in the average e-reader price. Right now, the average e-reader is $182. They’re expecting that to drop to $114 by 2014.
Considering that you can already pick up something like the Kobo Reader for $100, you realize how far we’ve come from the initial $300+ price tags of the first Kindles. That said, tablets like the iPad weren’t supposed to replace e-readers… but they have been for many people. Is that the real wave of the future or will e-paper and e-ink still have teeth? I don’t read a lot of books, but I am getting more and more tempted to get one of these things.[Yankee Group]
Yankee Group forecast finds Asia-Pacific overtaking North America as leader in e-reader sales revenue.
BOSTON–Who says no one reads anymore? Yankee Group’s latest forecast predicts global e-reader sales revenue will grow from just $1.9 billion in 2010 to $8.2 billion in 2014, while unit sales will rise from just under 11 million in 2010 to nearly 72 million in 2014.
“Falling prices, growing content libraries and color e-paper displays will persuade consumers around the world to snap up e-readers like Amazon’s Kindle”
The forecast also predicts:
Worldwide installed base of e-readers will double each year. The installed base will grow at a CAGR of over 100 percent, from 12 million in 2010 to 127 million in 2014.
Europeans will snap up e-readers. The installed base of e-readers in Europe will grow at a CAGR of 143 percent from 2010 to 2014. The installed base of smartphones will grow at only 19 percent over the same period.
The average price tag for e-readers will fall. By 2014, the average retail price for an e-reader device will be $114, down from an average of $182 in 2010.
E-reader sales will generate more revenue in Asia-Pacific than in North America by 2014. In 2010, North America accounted for 57 percent of all e-reader sales revenue, while Asia-Pacific garnered only 34 percent. By 2014, Asia-Pacific will account for 49 percent of all e-reader sales revenue, while North America will account for only 39 percent.
“Falling prices, growing content libraries and color e-paper displays will persuade consumers around the world to snap up e-readers like Amazon’s Kindle,” said Dmitriy Molchanov, analyst at Yankee Group and author of the forecast. “Consumers in China and India will be responsible for a growing proportion of worldwide sales as Asia-Pacific’s middle class continues to grow.”
To download a free snapshot of the global e-reader forecast, visit http://web.yankeegroup.com/2011TabletForecastSnapshot-Registration.html
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