BOSTON--(BUSINESS WIRE)--Please replace the release with the following corrected version due to multiple revisions.
The corrected release reads:
YANKEE GROUP SAYS U.S. E-BOOK DOWNLOADS WILL OUTPACE PAID MOBILE APP DOWNLOADS THROUGH 2013
Latest forecast predicts U.S. e-book sales will reach nearly $2.7 billion in three years.
The catchphrase “There’s an app for that” may soon be replaced by “There’s an e-book for that.” In a new report, “2011 E-Book Forecast: Get Set for the Next Best-Seller,” Yankee Group predicts U.S. e-book downloads will grow at an 83% CAGR by 2013, while paid mobile app downloads will grow at a 72% CAGR during the same period. U.S. e-book sales will grow from $313 million in 2009 to $2.7 billion by 2013.
The report also finds:
- E-book unit sales will skyrocket. By 2013, U.S. consumers will purchase 381 million e-books, roughly four times the amount they purchased in 2010.
- Average selling prices of e-books will plummet. By 2013, the average e-book retail price will fall to $7, down from an average of more than $9 in 2009.
- Age is a factor in e-book adoption. While a third of 18-19 year olds express high interest, key features like scalable fonts, text-to-speech conversion and lightweight e-readers have attracted more than 22 percent of the 65 and over crowd.
- Students will have a big hand in stirring e-book sales. Textbooks are heavy, expensive and unwieldy. It’s no surprise then that 1 in 4 students express strong interest in e-books.
“E-book prices are falling, unit sales are growing and revenue is skyrocketing—you may ask why this didn’t happen 10 years ago,” said Dmitriy Molchanov, analyst at Yankee Group and author of the report. “Aside from the growing adoption of e-readers like Amazon’s Kindle, new content formats, better content discovery tools and new business models will all drive e-book sales in the next three years. The ecosystem is maturing fast—device makers and others who don’t make their move now will miss out on a multi-billion-dollar market.”
About Yankee Group
The people of Yankee Group are the global connectivity experts–the leading source of insight and counsel trusted by builders, operators and drivers of connectivity solutions for 40 years. Headquartered in Boston, Yankee Group has a global presence, including operations in Europe, the Middle East, Africa, Latin America and Asia-Pacific. Visit www.yankeegroup.com.