Global Book Publishing Industry
The worldwide book industry was forecast to exceed revenue of $90 billion, reports MarketLine. The industry recorded yearly growth of 1% over the past four preceding years, and is expected to accelerate to a yearly rate of almost 4% between 2011 and 2016. Sales by music, video, books and stationery retailers represented the leading segment of the global book market in 2011, generating more than $50 billion and representing 56% of the overall market.
Individual readers are the main consumer base for the world’s book publishing market, with specific professional and student groups along with institutional buyers like libraries also creating demand, reports BizAcumen. Government and professional initiatives to promote educational and professional training, respectively, may further fuel book demand.
An obstacle to growth in the global book publishing market is the growing popularity of e-reader tablets like the Kindle, which is prompting consumers to buy books in digital format.