You know a market is exploding when you sell three times as many products around the world as you did the year prior. The ebooks (and e-reader) market are doing exactly that, with reports emerging saying worldwide ebook sales increased an insane 200%!
Those are big numbers
The figures, calculated by Futuresource Consulting, pegs the sales of ebooks around the world at over 90 million units purchased in 2010, reports Ebook Newser.
Fiona Hoy, who is a market analyst with Futuresource Consulting, said in a statement that: ‘This equates to a value of more $900 million and was largely attributable to growth in the US region, which represented more than 80 per cent of global revenues last year.’ Given we had previously reported that ebooks were on course to become a billion dollar business, Hoy’s $900 million doesn’t seem that far off.
The biggest driver of growth in the industry was the North America, where over 80 per cent of all ebook revenue was generated. Western Europe, the second largest market, represent 10 per cent of worldwide ebook sales, with the UK being the primary driver in that region.
Global adoption occurring, too
However, Hoy is quick to point out that e-readers and ebooks adoption is on the up around the world, even outside of the key markets, and these sales are driven by local ebook businesses springing up, in addition to the major players like the Amazon Kindles of the world. Come 2014, Hoy predicts ebook revenue generated in the US will only be 50 per cent of the market, with the rest of the globe sharing the remaining numbers.
Hoy also says that ‘Western Europe’s share of global ebook revenues will grow significantly, contributing in excess of $6 billion towards global revenue in 2014.’ The basic point is ebook sales are showing no signs of slowing, and e-reader sales will likely continue their rapid growth instep.