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The E-reader Market size is projected to increase by USD 7.01 billion, at a CAGR of 6.46% between 2023 and 2028. The growth rate of the market depends on several factors, including the longer battery life of E-readers, the benefits and reader engagement of e-books, and the glare/light pollution-free nature of E-readers. An E-reader is also called an e-book reader or e-book device and is predominantly used to read electronic copies of the book. The device can display text on the screen and has the capability to optimize font size, brightness, and text level according to the reader's preferences.
The report includes a comprehensive outlook on the market, offering forecasts for the industry segmented by Capacity, which comprises 8 GB, 32 GB, and 4 GB. Additionally, it categorizes Screen Size into 6-8 inch, 8-10 inch, above 10 inch, and below 6 inch, and covers Regions, including North America, APAC, Europe, South America, and Middle East and Africa. The report provides market size, historical data spanning from 2018 to 2022, and future projections, all presented in terms of value in USD billion for each of the mentioned segments.
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Longer battery life of E-readers is the key factor driving market growth. E-readers consume a very minimal amount of power, making them highly energy-efficient when compared with tablets and smartphones. They mainly consume power when the display is being updated. This is becoming a major unique selling proposition for E-readers as customers are more concerned about the efficiency of the product.
Moreover, E-readers stay intact until they are changed again by the electric charge. This makes the device extremely energy efficient. Owing to their energy efficiency, E-readers are prominently used for E-books and aid learning for children, and therefore, eliminate the emission of unwanted blue light, which is common from smartphones and tablets. Therefore, such product developments are expected to drive market growth during the forecast period.
The rising adoption of online local language translation modules in e-books is the primary trend shaping market growth. Factors such as the localization of content and online local language translations for e-books are increasing due to countries across the world having many native languages. Consumers in the region prefer to buy e-books that they can relate to and comprehend well, and some E-readers such as Amazon, Kindle, and Oasis come with an in-built translator application. As a result, e-books can be easily translated into languages most commonly spoken across the world other than English on the device.
In addition, to align with market trends and analysis e-book publishers are embedding the translation of their e-books with E-reader software. This is expected to not only improve the accessibility and distribution of books to a wider target end-user but also help them cut costs and improve content mobility during the forecast period. UK-based First Editions Translations has been serving various clients across Europe in translating books in a wide range of local languages. Thus, the localization of e-books is expected to drive the growth of the market during the forecast period.
The lack of color range in E-readers is a challenge that affects market growth. E-readers majorly produce images in black, white, and shades of gray. The importance of having colored images in newspapers and other display mediums is increasing. Thus, the lack of color options in E-readers is a major disadvantage for the global E-reader market. Customers tend to be less attracted to black-and-white images, which form the majority of E-readers. Consequently, companies such as Rakuten Group Inc. that are interested in displaying colorful images or ads do not opt for E-readers.
However, a significant amount of research and development (R and D) is expected to be required to improve its features, such as color, during the forecast period. Devices such as tablets, smartphones, and phablets provide a wide range of color combinations, and it is expected to be very difficult for E-readers to compete with such devices in the future. Such a factor is expected to pose a challenge to the growth of the market during the forecast period.
The market share growth by the 8 gigabytes (GB) segment will be significant during the forecast period. The 8 gigabyte (GB) E-reader is the most popular E-reader among various storage sizes. Major companies such as Amazon and Barnes are the main provider of 8 GB variants and price their E-readers at USD 150 to USD 190. Companies such as Amazon and Rakuten Kobo are launching new versions of their E-readers.
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The 8 GB Segment shows a gradual increase in the market share of USD 9.77 billion in 2018. Major market players such as Barnes and Noble offer Nook E-readers with a 6-inch HD display and 8 GB capacity, which completely enhances the reader experience. Barnes & Noble offers Nook E-readers with an HD display size of 6 inches and 8 GB, which will improve your reading experience. Consequently, the demand for E-readers with 8 GB storage capacity is expected to increase in the forecast period due to their low cost and availability of optimal features.
The 6-8 inch segment will account for the largest share of this segment. This is due to the fact that 6-8 inch E-readers offer a good balance of portability and screen size. A 6-8 inch screen is often considered the standard size for E-readers and is commonly found in popular devices such as Amazon Kindle Paperwhite and Kobo Clara HD. 6-8 inch E-readers are a popular choice for a variety of people, including students, professionals, and avid readers. They are a great way to enjoy books, magazines, and other digital content on the go. Such factors are expected to drive the growth of the 6-8 inch segment of the global E-reader market during the forecast period.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Capacity
7 Market Segmentation by Screen Size
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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