eBooks - Nigeria | Statista Market Forecast

eBooks - Nigeria

Nigeria

Highlights

The eBooks market in Nigeria is set to achieve a significant milestone, with projected revenues reaching US$2.14m by 2024.
It is expected that this growth will continue at an annual rate of 1.33% from 2024 to 2027, resulting in a market volume of US$2.23m by the latter year.
As the market expands, the number of readers is also anticipated to rise, reaching a remarkable 42.9m users by 2027.
In terms of user penetration, it is predicted to be 16.1% in 2024 and is forecasted to increase to 17.5% by 2027, indicating a growing interest in eBooks market among the Nigerian population.
The average revenue per user (ARPU) is expected to amount to US$0.06, reflecting the value of each customer in the market.
When looking at the global landscape, United States is anticipated to generate the highest revenue in the eBooks market, with an estimated US$5.34bn in 2024.
This demonstrates the dominance of the US market in the eBook industry.
Ebooks are gaining popularity in Nigeria as more readers embrace digital reading, leading to an increase in online bookstores and local authors self-publishing their works.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

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.