eBooks - South Korea

  • South Korea
  • The eBooks market in South Korea is poised to witness significant growth in the coming years.
  • According to projections, the revenue in this market is expected to reach US$0.54bn in 2024.
  • This growth is anticipated to continue with an annual growth rate (CAGR 2024-2027) of 0.61%, resulting in a projected market volume of US$0.55bn by 2027.
  • As the market expands, the number of readers in South Korea is also expected to increase.
  • By 2027, it is estimated that the country will have around 7.0m users eBook readers.
  • This demonstrates the growing popularity and adoption of eBooks market among the South Korean population.
  • In terms of user penetration, it is predicted to be 12.7% in 2024 and is projected to reach 13.7% by 2027.
  • This indicates that a higher percentage of the population will be engaging with eBooks market as a preferred medium for reading and accessing content.
  • The average revenue per user (ARPU) in the South Korean eBooks market is expected to amount to US$83.84.
  • This metric showcases the average amount of revenue generated from each user, highlighting the potential profitability of the market.
  • In a global comparison, it is noteworthy that in the United States is projected to generate the highest revenue in the eBooks market, with an estimated revenue of US$5,336.00m in 2024.
  • This signifies the dominance of the US market in terms of revenue generation, although South Korea's market is also expected to experience substantial growth and contribute to the overall industry landscape.
  • South Korea's eBook market is thriving, with a strong demand for digital content and a growing number of local authors embracing self-publishing.

Key regions: China, Europe, Japan, United Kingdom, United States

 
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Analyst Opinion

In comparison to physical books, eBooks are often sold for quite high prices, and consumers do not actually benefit from the cost reduction that comes from low printing and distribution expenses. This circumstance curbs the eBooks market’s growth potential heavily, although the general adaption among consumers is still consistently growing.

Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on the ePublishing market. ePublishing is defined as paid editorial/written content distributed over the internet, including eBooks (fiction, non-fiction, and academic publications), digital editions (replicas) of consumer and trade/business magazines (eMagazines), as well as daily or weekly newspapers (ePapers). All monetary figures refer to consumer spending on digital goods or subscriptions in the respective market. This spending factors in discounts, margins, and taxes.

Modeling approach / market size:

The market size is determined through a bottom-up approach. We use annual financial reports of the market-leading companies and industry associations, third-party studies and reports, survey results from our primary research (e.g., the Statista Global Consumer Survey), as well as performance factors (e.g., user penetration, price per product, usage) to analyze the markets. To estimate the market size for each country individually, we use relevant key market indicators and data from country-specific industry associations, such as various macroeconomic indicators, historical developments, current trends, and reported performance indicators of key market players. In particular, we consider average prices and annual purchase frequencies.

Forecasts:

We apply a variety of forecasting techniques, depending on the behavior of the relevant market. For instance, the S-curve function and exponential trend smoothing are well suited for forecasting digital products and services due to the non-linear growth of technology adoption. The main drivers are GDP per capita, consumer spending per capita, and 4G coverage.

Additional notes:

The data is modeled using current exchange rates. The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level. The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year. In some cases, the data is updated on an ad hoc basis (e.g., when new, relevant data has been released or significant changes within the market have an impact on the projected development). GCS data is reweighted for representativeness.

Overview

  • Revenue
  • Analyst Opinion
  • Users
  • Demographics
  • Global Comparison
  • Key Players
  • Methodology
  • Key Market Indicators
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