The Business Research Company Global Fiction Books Market Report 2022 – Global Market Size, Trends and Forecast 2022-2026
LONDON, GREATER LONDON, UK, Feb. 14, 2022 /EINPresswire.com/ — Trends in the fiction book market include an increasing focus on technology and new product development. Publishers and writers are constantly focused on introducing innovations to increase sales, reach, and to facilitate their writing and publishing business. For example, in January 2020, Marlowe, an AI analysis software for novels, was launched to help authors improve their novel before submitting it to professional editing. The software aims to enable authors to refine their manuscripts and identify market opportunities for their work. Additionally, publishers and authors release podcasts which are series of spoken word, audio episodes of a particular book which should create an effective means of recreation and entertainment for readers thereby increasing sales. For example, in September 2020, Apple Books and Oprah announced the launch of the “Oprah’s Book Club” podcast, an eight-episode series allowing viewers to explore Oprah’s Book Club picks and bestsellers.
The global fiction book 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 of the fiction book market is mainly due to companies reorganizing their operations and recovering from the impact of COVID-19, which previously led to restrictive lockdown measures involving social distancing, work remotely and the closure of business activities that resulted in operational losses. challenges. The fiction book market is expected to reach $11.81 billion in 2026 with a CAGR of 3.1%.
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The sale of books through online media is expected to drive the global fiction book market over the forecast period. The growing number of active Internet users offers businesses the opportunity to cater to a large number of customers. According to a Pew Research Center survey of 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 mainly due to the wide choice, cost savings from offers and discounts and the convenience of shopping anytime, anywhere. Hence, online book purchases are driving the fiction book market.
Key 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 Fiction Type into Short Story, Short Story, Novel, by Book Type into Physical Book, E-Book, Audiobook, by Genre into Action & Adventure, Young Adult, crime/mystery, drama, horror/paranormal/ghost, sci-fi, other, by end user in children, young adults, adults.
Global Fiction Books Market Report 2022 – By Fiction Type (Short Story, Short Story, Novel), By Book Type (Physical Book, eBook, Audiobook), By Genre (Action & Adventure, Young Adult, Crime / Mystery, Drama, Horror/Paranormal/Ghost, Sci-Fi), By End User (Kids, Young Adults, Adults) – Global Market Size, Trends & Forecasts 2022-2026 is part of a series of new reports from The Business Research Company providing Fiction Books market overview, forecasts Fiction Books market size and growth for overall market, Fiction Books market segments, geographies, market trends Fiction Books, Fiction Books Market Drivers, Constraints, Revenue, Major Competitor Profiles and Market Share.
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