Book Publishing in the US - Market Size, Industry Analysis, Trends and Forecasts (2024-2029)| IBISWorld (2024)

FAQs

Book Publishing in the US - Market Size, Industry Analysis, Trends and Forecasts (2024-2029)| IBISWorld? ›

Book Publishing in the US market size (2024-2029) Industry revenue has declined at a CAGR of 0.6% over the past five years, to reach an estimated $44.2bn in 2024.

Highlights: Book Publishing Industry Statistics

In 2020, the global book publishing revenue was around 92.68 billion U.S. dollars. The United States is the leading book publishing market worldwide, with sales of roughly 26 billion U.S. dollars in 2020. In 2020, about 2.71 billion new books were sold worldwide.

Market Overview

The global books market revenue was valued at USD 137.12 billion in 2022. It is estimated to reach USD 165.22 billion by 2031, growing at a CAGR of 2.2% over the forecast period (2023–2031). The market growth is driven by increasing consumer spending and a growing emphasis on self-development.

The book publishers market size has grown steadily in recent years. It will grow from $92.97 billion in 2023 to $95.91 billion in 2024 at a compound annual growth rate (CAGR) of 3.2%.

Like all media, the publishing sector is experiencing considerable change. Technological developments like generative artificial intelligence (AI), the regulatory environment, and the ever-changing habits, needs, and wants of consumers are among the most prominent factors spearheading these changes.

Ebooks and audiobooks

The audiobook sector has experienced consistent growth since 2012, witnessing a notable 14.3% increase in revenue year over year, making it one of the fastest-growing segments of the book publishing industry.

Like many industries, book publishing is dominated by a small number of companies known as the Big Five publishing houses. These publishers include Hachette Book Group, HarperCollins, Macmillan Publishers, Penguin Random House, and Simon & Schuster.

Questions Clients Ask About This Industry

The market size, measured by revenue, of the Book Publishing industry was $44.3bn in 2023.

The books market size was estimated at USD 138.5 billion in 2021 and is expected to reach USD 142.33 billion in 2022. What is the books market growth? b. The books market is expected to grow at a compound annual growth rate of 1.9% from 2022 to 2030 to reach USD 164.22 billion by 2030.

Overview. The publishing industry involves production and dissemination processes to make information, such as literature, music, software, and travel aids, available.

Is the book industry growing? ›

As of 2023, the global trade book sales revenue is estimated at $78.07 billion, which will be a 2.53% increase over 2022. Global trade book sales in 2022 were 10.11% down compared to 2021, with $76.14 billion.

What is a target audience? A target audience is who you write your book for. It's the group of people who would be the most helped or entertained by your book. Your readership might extend past your intended target audience, but the target audience is who you intentionally aim for.

The book publishing was the largest and was valued at USD 133.94 billion in 2018. Additionally, the developing and underdeveloped countries witnessed a significant rise in this segment owing to different government initiatives.

For 2024, publishers need to focus their efforts on accessibility, diversity, social media, the responsible use of AI, and audiobooks.

Quality editing, captivating covers, and strategic marketing are essential for success. The global ebook market is projected to reach USD$32.19 billion by 2032, emphasizing the continued growth of digital formats. Ebooks and audiobooks offer instant accessibility, with features enhancing the reading experience.

The market size, measured by revenue, of the Global Book Publishing industry was $132.4bn in 2023. What was the growth rate of the Global Book Publishing industry in 2023? The market size of the Global Book Publishing industry increased 1.1% in 2023.

Publishing industry revenue

The United States of America (US) (USD 26.2 billion) reported the highest sales revenue, followed by Germany (USD 9.9 billion), Japan (USD 9.3 billion), India (USD 9.1 billion) and the United Kingdom (UK) (USD 5 billion) (table 1).

Based on revenues, London-based RELX is the largest publisher in the world right now. The company, which employs more than 30,000 people worldwide, posted revenues of a whopping $10.99 (USD) billion in 2022. It took many mergers and acquisitions for RELX to stand where it is today.