Free eBook prices are now set to plummet across the UK.
The UK’s ebook market is expected to contract by about 8% next year, according to research firm IBISWorld.
The industry is already in a state of flux, with a huge number of digital sales continuing to be done on-demand.
There are also some big new entrants to the market, like Amazon, which is currently the world’s largest ebook seller.
IBISworld forecasts the UK to contract 7.5% in 2019.
But there’s no reason to believe the decline will be gradual.
The company expects ebook prices to drop by around 40% next fiscal year, a sharp drop from the 6.4% decline expected by the agency in October.IBISWorld’s analysis also showed that the UK will not be the only market to see its ebook price fall.
Apple is also expected to lose a third of its market share in 2019, according the research firm.
The rise in prices is the result of a combination of several factors.
The price of digital books has been steadily rising, and this has caused consumers to turn to other services for reading, said IBIS World’s Daniel Pfeiffer.
Consumers have also been increasingly attracted to cheaper apps, which have been available on Android and iOS devices for years.
The growth in ebook pricing is expected only to accelerate.
The market is likely to contract in 2019 due to both the growth of ebooks and the impact of a new digital distribution model.
The biggest problem is that ebooks are becoming more and more expensive, Pfeffer added.
Many ebooks cost around £4.99, which makes them more expensive than newspapers, magazines, or magazines for example, which cost £3.99 or less.IBisworld predicts the UK’s eBook market will contract by between 4.3% and 5% next financial year.
Pfeffer said that, if this forecast is correct, it would be the worst year-on-year decline in UK ebook pricing since 2009.
The decline in ebook prices is expected for a variety of reasons, including the introduction of a digital distribution platform, an increased demand for digital content, and the rising cost of digital media.
However, some of the major changes expected to take place include:The shift towards on-site bookingsA shift towards cheaper appsThe introduction of more apps, including Amazon Prime, Apple iBooks and Google BooksThe emergence of a more personalized digital experienceA shift away from ebooks as the main source of reading in the UKThe rise of streaming appsThe fall of the Kindle and iPadAs more people turn to ebooks for reading and media consumption, there are also many more ebooks available for purchase online.
The most popular books on the market in 2019 will include such books as The Last Unicorn, The Handmaid’s Tale, and A Storm of Swords.
However, Amazon and Apple are expected to remain dominant in 2019 as more of the market moves to e-readers.IBispoint says the digital market is predicted to contract across the United Kingdom by 8.3%, while Amazon and Google will see their market share drop by 4.9% and 2.5%, respectively.
This is because people are looking for different ways to consume content, such as by downloading it on their phones or tablets.