The eBooks market in Armenia has been experiencing significant growth in recent years, driven by changing customer preferences and the increasing availability of digital reading devices.
Customer preferences: Armenian customers are increasingly embracing eBooks as a convenient and cost-effective alternative to traditional print books. The ease of accessing eBooks through smartphones, tablets, and e-readers has made reading more accessible to a wider audience. Additionally, the ability to carry multiple books in a single device has appealed to customers who are always on the go. Furthermore, the lower price of eBooks compared to print books has also attracted budget-conscious readers.
Trends in the market: One of the key trends in the Armenian eBooks market is the rise of self-publishing. Aspiring authors are taking advantage of digital platforms to publish and distribute their works independently, bypassing traditional publishing houses. This trend has not only increased the availability of Armenian literature in eBook format but has also provided opportunities for emerging writers to gain recognition. Another trend in the market is the growing popularity of subscription-based eBook services. Customers are increasingly subscribing to platforms that offer unlimited access to a wide range of eBooks for a monthly fee. This model provides readers with a cost-effective way to explore different genres and authors, without the need to purchase individual books.
Local special circumstances: Armenia has a rich literary tradition, and the availability of eBooks has allowed for the preservation and dissemination of Armenian literature. The digital format has made it easier to access and distribute works from both contemporary and historical Armenian authors. This has not only contributed to the preservation of the Armenian cultural heritage but has also helped promote Armenian literature internationally.
Underlying macroeconomic factors: The growth of the eBooks market in Armenia can also be attributed to favorable macroeconomic factors. The increasing penetration of smartphones and internet connectivity has made it easier for customers to access and download eBooks. Additionally, the relatively low cost of digital devices and internet services has made them more affordable and accessible to a larger segment of the population. In conclusion, the eBooks market in Armenia is witnessing significant growth due to changing customer preferences, the rise of self-publishing, the popularity of subscription-based services, and the preservation of Armenian literature. These trends, coupled with favorable macroeconomic factors, are driving the development of the market and are likely to continue shaping its future growth.
Data coverage:
The data encompasses B2C enterprises. Figures are based on the Books market, which covers paid publications in printed form and in the form of digital replicas (eBooks). Revenues from the consumer (of general interest), academic (for educational purposes), and professional (on specialized topics) markets are included here. 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., Consumer Insights), 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). Consumer Insights data is reweighted for representativeness.
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