The eBooks market in South Korea has experienced significant growth in recent years, driven by changing customer preferences and the increasing availability of digital reading devices.
Customer preferences: South Korean consumers have shown a strong preference for digital content, including eBooks. This can be attributed to several factors, including the convenience and portability of digital reading devices, such as e-readers and smartphones. Additionally, the ability to access a wide range of titles instantly and the availability of digital reading apps have made eBooks a popular choice among South Korean readers.
Trends in the market: One of the key trends in the South Korean eBooks market is the increasing popularity of mobile reading. With the widespread adoption of smartphones and the growing number of mobile reading apps, more and more South Koreans are choosing to read eBooks on their mobile devices. This trend is likely to continue as smartphones become more advanced and offer better reading experiences. Another trend in the market is the rise of self-publishing. South Korean authors are increasingly choosing to publish their works digitally, bypassing traditional publishing channels. This has led to a greater diversity of content available in the eBooks market, as well as increased opportunities for emerging authors to reach a wider audience.
Local special circumstances: South Korea has a highly developed telecommunications infrastructure and a high internet penetration rate. This has facilitated the growth of the eBooks market, as consumers have easy access to digital content and can seamlessly download eBooks onto their devices. Furthermore, the South Korean government has actively promoted the adoption of digital reading, providing support for the development of e-book platforms and encouraging the digitization of educational materials.
Underlying macroeconomic factors: South Korea has a strong economy and a high literacy rate, which provides a favorable environment for the eBooks market to thrive. Additionally, the country has a large population of tech-savvy consumers who are early adopters of new technologies. This has contributed to the rapid growth of the eBooks market in South Korea. In conclusion, the eBooks market in South Korea is experiencing significant growth due to changing customer preferences, such as the preference for digital content and mobile reading. The rise of self-publishing and the availability of digital reading devices and apps have also contributed to the market's growth. Furthermore, the country's advanced telecommunications infrastructure, government support, strong economy, and tech-savvy population have created a favorable environment for the development of the eBooks market in South Korea.
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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