eBooks - Baltics | Statista Market Forecast

eBooks - Baltics

Baltics

Highlights

Revenue in the eBooks market within the Baltics is projected to reach US$7.98m in 2024.
This revenue is anticipated to exhibit an annual growth rate (CAGR 2024-2029) of 1.16%, leading to a projected market volume of US$8.46m by 2029.
In the Baltics' eBooks market, the number of readers is expected to total 892.7k users by 2029.
User penetration in this region will be 14.9% in 2024 and is forecasted to increase to 16.0% by 2029.
The average revenue per user (ARPU) in the Baltics is expected to be US$9.21.
In a global context, the highest revenue in the eBooks market will be generated the United States, with a projected figure of US$5.34bn in 2024.
In the Baltics, the rising popularity of eBooks is reshaping the media landscape, reflecting a growing preference for digital reading among younger demographics.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The eBooks market in Baltics is experiencing significant growth and development. Customer preferences are shifting towards digital content, leading to an increased demand for eBooks. This trend is driven by several factors, including convenience, accessibility, and cost-effectiveness.

Customer preferences: In recent years, there has been a noticeable shift in customer preferences towards digital content. With the advancement of technology and the widespread use of smartphones and tablets, consumers are increasingly opting for eBooks over traditional print books. The convenience of having a vast library of books at their fingertips, accessible anytime and anywhere, is a major driving force behind this shift. Additionally, eBooks are often more affordable than their print counterparts, making them an attractive option for cost-conscious readers.

Trends in the market: One of the key trends in the eBooks market in Baltics is the growth of online platforms and eBook subscription services. These platforms offer a wide range of titles, allowing customers to access a vast library of books for a monthly fee. This subscription model has gained popularity among readers who prefer to have unlimited access to a variety of books without the need to purchase individual titles. Furthermore, the rise of self-publishing has also contributed to the growth of the eBooks market. Authors now have the opportunity to publish their work digitally, reaching a wider audience and bypassing traditional publishing channels.

Local special circumstances: The relatively small population and geographic proximity of the Baltic countries create a unique market dynamic. While each country has its own distinct culture and language, there are similarities in terms of consumer preferences and reading habits. This allows eBook retailers and platforms to cater to a broader regional audience, increasing the potential customer base. Additionally, the Baltic countries have a high literacy rate and a strong tradition of literary culture, which further contributes to the demand for eBooks.

Underlying macroeconomic factors: The development of the eBooks market in Baltics is also influenced by underlying macroeconomic factors. The region has experienced steady economic growth in recent years, leading to an increase in disposable income and consumer spending. This has allowed more people to afford digital devices and invest in eBooks. Furthermore, the high internet penetration rate in the Baltic countries has created a favorable environment for the growth of the eBooks market. With easy access to the internet, consumers can quickly and conveniently purchase and download eBooks, further fueling the market's expansion. Overall, the eBooks market in Baltics is thriving due to changing customer preferences, the rise of online platforms and subscription services, local special circumstances, and favorable macroeconomic factors. As digital technology continues to advance and consumer behavior evolves, the eBooks market is expected to continue its upward trajectory in the region.

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.