The Business Research Company’s Fiction Books Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026
LONDON, GREATER LONDON, UK, February 14, 2022 /EINPresswire.com/ -- Fiction books market trends include increasing focus on technology and new product development. The publishers and writers are continuously focusing on introducing innovations to increase sales, outreach, and to ease their writing and publishing activities. For instance, in January 2020, Marlowe, A.I. analytical software for novels, was released to help authors to improve their novel before forwarding it off for professional editing. The software aims to provide authors with refining their manuscripts and identify opportunities for their work in the market. Moreover, publishing houses and authors are releasing podcasts which are series of spoken word, audio episodes of a particular book that is expected to create an effective means of leisure and entertainment for the readers further building sales. For instance, in September 2020, Apple Books and Oprah announced the launch of “Oprah’s Book Club” podcast, an eight-episode series for viewers to explore Oprah’s Book Club pick and bestseller.
The global fiction books market size is expected to grow from $10.01 billion in 2021 to $10.46 billion in 2022 at a compound annual growth rate (CAGR) of 4.5%. The growth in the fiction books market is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The fiction books market is expected to reach $11.81 billion in 2026 at a CAGR of 3.1%.
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The sale of books through online media is anticipated to drive the global fiction books market during the forecast period. The increasing number of active internet users is providing companies with an opportunity to cater to a wide number of customers. According to a Pew Research Center survey on book consumption and book formats, 191 million e-books were sold in the United States in 2020. The preference of individuals to buy books online is majorly due to the broad choice, cost savings due to offers and discounts, and convenience of buying anytime and from any location. Therefore, online shopping of books is boosting the fiction book market.
Major players covered in the global fiction books market are Penguin Random House, Hachette Livre Group, HarperCollins Publishers, Macmillan Publishers, Simon & Schuster, Turner Publishing, Chronicle Books, and Coffee House Press.
TBRC’s global fiction books market report is segmented by type of fiction into short story, novella, novel, by type of book into physical book, e- book, audio book, by genre into action and adventure, young adult, crime/mystery, drama, horror/paranormal/ghost, science fiction, others, by end-user into children, young adults, adults.
Fiction Books Global Market Report 2022 – By Type of Fiction (Short Story, Novella, Novel), By Type of Book (Physical Book, E- Book, Audio Book), By Genre (Action And Adventure, Young Adult, Crime/Mystery, Drama, Horror/Paranormal/Ghost, Science Fiction), By End-User (Children, Young Adults, Adults) – Market Size, Trends, And Global Forecast 2022-2026 is one of a series of new reports from The Business Research Company that provides a fiction books market overview, forecast fiction books market size and growth for the whole market, fiction books market segments, geographies, fiction books market trends, fiction books market drivers, restraints, leading competitors’ revenues, profiles, and market shares.
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