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An eReader, also known as eBook device and eBook reader, is an electronic paperwhite which is designed to read online content such as eBooks, news, magazines, and others. The eReader has various applications in industries such as BFSI, education, entertainment, among others. The adoption of eReaders has saved paper and promote an eco-friendly way of reading.
The growing penetration towards connected devices such as smartphones, tablets, and others is anticipated to boost the market growth. Also, the advent of technological advancement, the growing 5G & internet penetration, and growing awareness pertaining to saving paper is expected to boost the demand of the eReaders. Key players in this market are focusing on new product launches to improve customer experience. For instance, in April 2020, Onyx international Inc. launched a tiny BOOX Poke2 eReader to provide a seamless experience to their customers. This device comes with lightweight 6-inches and 1488 x 1072 pixel E Ink display. However, the high prices of eReaders and lack of awareness about electronic book technologies are anticipated to hinder the market growth.
The COVID-19 is expected to have a positive impact on this market. In January 2020 E Ink Holdings Inc. launched Color product portfolio for smart education, retail, and consumer electronics. This anticipates higher penetration of the device in each individual industry sectors. Additionally, in May 2020, Amazon.com Inc. announced literary partnership grant recipients. Over US$13 million grant money was given to literacy organizations amid COVID-19 to continue their support in the writing industry. It is expected to promote and nurture books, poetry, magazines in pandemic and support the market.
Key Market Driver -
• Increasing adaptation of online content into the educational curriculum is fueling the market growth • Rising penetration towards advanced eBooks and eReaders is driving the market growth
Key Market Restraint -
• The high cost of eReaders is expected to impede the market growth
Various manufacturers and service providers are focused on offering enhanced and advanced eReaders to gain a competitive edge in the market. Key players are also focused on R&D investments in eReaders to cater to the rising demand from the consumers. Also, the rising preference of customers towards Wi-Fi, GPRS, and 3G enabled eReaders is expected to present growth opportunities for new market entrants. Also, the rising demand for connected devices and digital education across the world is expected to drive the market. Some of the key players in the eReaders market are Amazon.com, Inc., PocketBook, Barnes & Noble, Inc., Ectaco, Bookeen, Rakuten Kobo Inc., Hanvon, News Corporation, Sony Corporation, Onyx Inc., Samsung, iFlytek, Plastic Logic Limited, and others.
North America is expected to lead the market by capturing maximum share during the forecast period. The rising penetration towards connected devices such as smartphones, tablets, iPad, and others have generated a high demand for eReaders.Also, the technological advancements and the growing ITC expenditure among region is anticipated to drive the market. Key players in this region are focused on launching eReaders and eBooks to gain a competitive edge in the market. For instance, in September 2019, Rakuten Kobo Inc. launched an innovative digital reading technology device – “Kobo Libra H2O”. This eReader is a 7-inch waterproof, and lightweight device that is designed to provide better reading experience to the end-user.
Asia Pacific is expected to exhibit healthy growth in the market, owing to the presence of key market players such as Sony Corporation, Onyx Inc., Samsung, and others. These key market players are focused on a new product development strategy to enhance the product portfolio. For instance, in March 2020, iFlytek, a Chinese technology company launched a color e-ink reader device “iReader C6”. This device can display 4,096 colors with its printed color electronic ink screen.
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