The U.S. e-book market is projected to reach a revenue of $5.3 billion in 2024. Globally, the e-book market is estimated to be worth $17 billion in 2024, with forecasts calling for a $22 billion market by 2029.
Sales of e-books have fluctuated over the years. After peaking in the mid-2010s and during the pandemic, growth has stabilized as the market matured. The last year for which data is available, 2020, a pandemic year, an estimated 191 million e-books were sold in the U.S. By comparison, 767 million printed books were sold in 2023, suggesting an e-book share of about 20% of all book sales in the U.S.
Most of the data about book reading patterns comes courtesy of a 2021 Pew Research Center survey:
- Readership – 75% of U.S. adults say they have read a book in the past year in any format, either completely or partly, a figure that has remained largely steady since 2011. However, e-books’ readership reached 30% in 2021, up from 17% in 2011.
- Usage patterns – 33% of Americans who read digital books also read print books, while 32% say they read only print books. Interestingly, 9% of Americans say they have only read digital books and no print books in the past year. On average, Americans spent 17 minutes reading for personal pleasure per day in 2021.
Historical Overview
In 1930, writer and impresario Bob Brown conceptualized a device he called the “Readie”:
“The written word hasn’t kept up with the age… The movies have outmaneuvered it. We have the talkies, but as yet, no Readies. To continue reading at today’s speed, I must have a machine, which I can carry or move around [and] attach to any old electric light plug.” — Bob Brown, Impresario 1930
It would take another 60-plus years for Brown’s desire for electronic books to become reality. The modern e-book market took off in the late 1990s and early 2000s, characterized by such key milestones as:
- 1998 – The first dedicated e-book readers, Rocket eBook and SoftBook, are launched.
- 2007 – Amazon.com introduces the Kindle, revolutionizing the e-book market.
- 2009 – Barnes & Noble launches its NOOK e-reader based on the Android platform.
- 2010 – Apple releases the iPad and iBooks, now called Apple Books, further expanding the market.
Marketing Popularity
This analysis would not be complete without mentioning the huge market for free or “freemium” business e-books. E-books have become a valuable tool for marketers, particularly as a lead-generation strategy. Similarly, startups, particularly in the crypto market, have made white papers, another type of content marketing, a core fundraising tactic. Offering free e-books as an email sign-up incentive is a popular tactic, providing several benefits:
- Content marketing – E-books allow brands and content creators to showcase their expertise and provide value to potential customers while establishing authority in their niche.
- Lead generation – Gated e-books that require email sign-up for access effectively capture leads and build email lists for future marketing efforts.
- Customer engagement – Well-crafted e-books can engage audiences more deeply than short-form content, fostering brand loyalty and increasing the likelihood of sales conversion. HubSpot reports that 83% of marketers believe it’s more effective to create higher quality content less often.
The U.S. e-book market has evolved significantly since its renaissance in the 2000s. Initially met with skepticism, e-books gradually gained acceptance with the advent of dedicated e-readers like the Amazon Kindle in 2007. Not surprisingly, Amazon.com dominates the e-book market, controlling 83% of the market.
Over the past decade, technological advancements, increased internet accessibility, and the proliferation of smart devices have propelled e-book adoption, transforming the market from a niche segment to a mainstream reading format.
Ubertrend: Digital Lifestyle
