E-book sales will surge to $2.7 billion by 2013 with a compound annual growth rate of 72 percent, according to Yankee Group projections. That growth will outpace the mobile app market, which is expected to have revenue of $1.6 billion by 2013, with a compound annual growth rate of 62 percent.
The Yankee Group report, dubbed 2011 E-Book Forecast: Get Set for the Next Best-Seller, highlights how the e-book market is set to take off. By 2013, Yankee Group projects consumers will buy 381 million e-books. Average selling prices will fall to $7 in 2013, down from $9 in 2009.
Other key points from the report:
Publishers will experiment with e-book rentals, ads and micropayments.
- Subscription models such as the ones Sesame Street offers may be the business model of the future. Sesame Street gives you access to 100 e-books for $40 a year.
- A fifth of consumers plan to ditch physical books.
- Students are going to drive e-book adoption.