Project Report For Online Book Store
Project report for Online Book Store is as follows.
The worldwide online book services industry is estimated at USD 17.7 billion in 2019 and is anticipated to expand at a CAGR of 5.8 percent from 2020 to 2027. The expanding consumer preference for reading books digitally or as e-books instead of in physical form, along with the expanding use of mobile phones and tablets, is producing an expanding number of digital readers. This is likely to boost the worldwide market’s expansion throughout the projected timeframe. Digital readers, often known as e-readers, have grown in popularity among a wide range of customers in recent years.
Retirees who want to downsize their houses and enjoy a minimalistic life, as well as kids who are weary of dragging about a bag full of books, are all gravitating toward online books, which provide most comfortable viewing experience.
Users may also understand more easily with online books since most online versions contain dictionaries, appendices, character descriptions, and other features. Thus, simple navigation, i.e., by just tapping on a term or an unknown term, allows users to immediately find out additional information, making reading simpler. It is also a useful feature for children trying to read.
Market potential & Strategy
In terms of share, the trade product category led the market in 2019 with a 70.0 percent share and is expected to expand significantly over the forecasted timeframe. This category covers the majority of genres, including fiction, nonfiction, literature, and small children’s literature, to mention a few. The rising customer preference for digitally reading such books is expected to boost category expansion in the future years. Romance, mystery, horror, science fiction, and fantasy are amongst the most popular categories across buyers, and their simple accessibility over the web is expected to accelerate category development in the future years.
According to the 2017 Author Earnings report, eBooks now account for more than 70% of all category e-book purchased by consumers.
From 2020 to 2027, the education product category is expected to grow at a CAGR of 5.4 percent. Over the projected period, the advent of digital education and interactive learning technologies is expected to boost sector expansion. Online books are widely available and have been shown to simplify and improve the entire learning process. Digital books further enhance the learning experience by making it more interactive and interesting. Introducing digital technology into schools has improved the quality of education provided.
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