Monday, December 14, 2009

Book Publishing - A World Market Analysis

Book publishing, a huge market worldwide, is chiefly fostered by voracious readers, who make up the general consumer base and specific consumers such as students and professionals, and institutional buyers such as libraries. The market would be driven by the government's rising emphasis on education, higher enrollment in schools/colleges, rise in readership, and growing number of professionals in the modern workforce. However, there are challenges too in the form of the advent of information technology, and shifts in consumer preferences and hobbies towards other electronic forms of entertainment.

Despite the challenges, the book publishing market will stand enthused by market fundamentals, such as, conducive demographics, such as, students seeking educational books, reference volumes and textbooks, parents and governments focusing more on the spend on education, increasing number of women and the middle aged continuing with and reviving their reading habits, professionals in various industries seeking books that help them with their professions, parents wanting to read out to their children from books, and individuals wanting books that assist in self-improvement.