Physical Book Sales In The Print Media Industry Are Being Challenged By E-Books

Print Media Market Report 2021: COVID-19 Impact And Recovery To 2030

Print Media Global Market Report 2021: COVID-19 Impact And Recovery To 2030

The Business Research Company’s Print Media Global Market Report 2021: COVID-19 Impact and Recovery to 2030

LONDON, GREATER LONDON, UK, January 17, 2021 /EINPresswire.com/ — New year, new updates! Our reports have been revised for market size, forecasts, and strategies to take on 2021 after the COVID-19 impact: https://www.thebusinessresearchcompany.com/global-market-reports

E-books sales are growing rapidly in established markets of the USA and Europe. eBooks generated a higher share of revenues than the physical print in developed markets such as the US and UK. According to PWC, total global book publisher’s revenue will increase, growing at a compound annual growth rate of 1.7% during the forecast period. Although the physical book publisher’s industry continues to shrink (-2.8%) according to print media marketing stats, this decline is offset by growth in e-books which are predicted to grow at a CAGR of 11.7% in the forecast period. Increasing consumer preference for the digital versions is expected to significantly impact the growth of the market during this period and will affect companies’ print media marketing strategy.

The print media market consists not just of sales of books, but also of newspapers, magazines, other periodicals, directories and mailing lists, and other works, such as calendars, greeting cards, and maps and related services such as advertising space by entities (organizations, sole traders or partnerships) that publish print media. The global print media market size is expected to grow from $287.87 billion in 2020 to $313.28 billion in 2021 at a compound annual growth rate (CAGR) of 8.8%. The print media market growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $342.81 billion in 2025 at a CAGR of 2%.

Asia Pacific is the largest region in the global print media market, accounting for 37% of the market in 2020. North America is the second largest region accounting for 32% of the global market. Africa has the smallest print media market share.

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Source: EIN Presswire