Montenegro, a small country in Southeast Europe, has seen significant growth in its eBooks market in recent years. Customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors have all contributed to this development.
Customer preferences in Montenegro have shifted towards digital content consumption, including eBooks. This can be attributed to several factors. Firstly, the convenience of accessing eBooks on electronic devices such as smartphones, tablets, and e-readers has made them increasingly popular among Montenegrin readers.
The ability to carry an entire library of books in one device appeals to the modern lifestyle and the desire for mobility. Additionally, the cost-effectiveness of eBooks compared to physical books has also played a role in shaping customer preferences. With eBooks often priced lower than their print counterparts, readers in Montenegro are more inclined to opt for digital versions.
Trends in the eBooks market in Montenegro reflect global patterns. The rise of online marketplaces and platforms for purchasing and downloading eBooks has made it easier for readers to access a wide range of titles. The popularity of e-readers and mobile reading apps has further facilitated the growth of the market.
Additionally, the COVID-19 pandemic has accelerated the adoption of eBooks as people turned to digital entertainment and reading during lockdowns and social distancing measures. Local special circumstances in Montenegro have also contributed to the development of the eBooks market. The country's relatively small population and limited physical bookstore infrastructure make it challenging for readers to access a diverse range of books.
eBooks offer a solution to this issue by providing a virtually unlimited selection of titles that can be easily downloaded and accessed from anywhere in the country. Furthermore, Montenegro's growing tourism industry has also played a role in the popularity of eBooks. Tourists visiting the country often prefer the convenience of eBooks over carrying physical books during their travels.
Underlying macroeconomic factors have also influenced the growth of the eBooks market in Montenegro. The country's improving internet connectivity and digital infrastructure have made it easier for readers to access and download eBooks. Additionally, the increasing disposable income and literacy rates in Montenegro have contributed to the demand for digital content, including eBooks.
In conclusion, the eBooks market in Montenegro has experienced significant growth due to customer preferences, global trends, local special circumstances, and underlying macroeconomic factors. The convenience, cost-effectiveness, and accessibility of eBooks have made them a popular choice among Montenegrin readers. As the country continues to invest in its digital infrastructure and as customer preferences continue to evolve, the eBooks market in Montenegro is expected to further expand in the coming years.
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.
Mon - Fri, 9am - 6pm (EST)
Mon - Fri, 9am - 5pm (SGT)
Mon - Fri, 10:00am - 6:00pm (JST)
Mon - Fri, 9:30am - 5pm (GMT)
Mon - Fri, 9am - 6pm (EST)
