E-textbook Rental Market Size, Share, Growth, And Industry Analysis by Type (Pay-as-You-Go Models, Subscription Models, E-textbook Rental) by Application (Non-Academic Segment, Academic Segment), Regional Insights, and Forecast From 2024 To 2032

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E-Textbook Rental Market Report Overview

The global e-textbook rental market size was USD 0.33 billion in 2023 and is projected to grow from USD 0.39 billion in 2024 to USD 1.6 billion by 2032, exhibiting a CAGR of 19.3% during the forecast period. Asia-Pacific holds leading position in e-textbook rental market share in 2023.

An E-textbook rental is a service that allows students to rent digital versions of textbooks for a certain period of time, typically for a semester or academic year. These E-textbook s can be accessed on a variety of devices, including computers, tablets, and smartphones, and can be downloaded or accessed online. E-textbook rentals are becoming increasingly popular as they offer a number of benefits over traditional physical textbooks, such as lower cost, convenience, and the ability to search and highlight text. Additionally, E-textbook rentals are more environmentally friendly as they eliminate the need for paper and printing.

As more students choose to use digital solutions for their course materials, the industry for renting out electronic textbooks has been expanding quickly in recent years. Students may obtain digital versions of their textbooks for a fraction of the price of buying a physical copy by renting them as E-textbooks. For many students who want to pay less for their education, this has changed everything. Amazon is a significant player in the market for renting E-textbook s. They provide a wide range of E-textbooks for rent and have affordable rates. Students have the freedom to select the choice that best suits their needs thanks to Amazon's option to buy E-textbooks entirely. The E-textbook rental market size is developing and cutthroat. With so many alternatives accessible, students may pick the one that best suits their requirements and financial situation. E-textbook rental market size is expected to experience even greater innovation as technology develops.

COVID-19 Impact: The Pandemic Has Hastened The Market's Transition To E-textbook Rentals And Is Probably Going To Have A Long-Term Effect

The global COVID-19 pandemic has been unprecedented and staggering, with E-textbook rental market experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over.

The market for renting electronic textbooks has been significantly impacted by the COVID-19 pandemic. E-textbook s are in more demand as a result of the move to remote learning as students and teachers explore for ways to access educational resources remotely. As a more affordable option to buying physical textbooks, many students are now using sites for renting electronic textbooks. The usage of E-textbook rental services has also increased as a result of the closing of traditional bookshops and college campuses. However, the pandemic has also presented difficulties for E-textbook rental platforms, including heightened competition and supply chain interruptions. The COVID-19 outbreak has expedited the market's transition to E-textbook rentals overall and is anticipated to have long-lasting effects.

Latest Trends

"The Main Development In The Worldwide E-textbook Rental Business Is The Increasing Software Integration With Digital Textbooks"

By adding more features, several companies are attempting to make digital textbooks practical for students. Certain suppliers bundle software with conventional textbooks. However, in addition to enabling students to participate in social learning, E-textbook s also let them highlight and take notes. Students may now evaluate and rate E-textbook s thanks to a social component that has been incorporated, according to digital publisher Inkling. They can also impart knowledge and notes to their classmates in the classroom. Digital E-textbook s are being enhanced with additional software to add movies, 3-D pictures, and built-in quizzes to make them more user-friendly and productive. During the projected period, such initiatives by industry players should accelerate the expansion of the worldwide E-textbook rental market.

E-Textbook Rental Market Segmentation

• By type

Depending on E-textbook rental given are types: Pay-as-You-Go Models, Subscription Models, E-textbook Rental. The Pay-as-You-Go Models type will capture the maximum market share through 2028.

• By Application

The market is divided in Non-Academic Segment, Academic Segment based on application. The global E-textbook rental market players in cover segment like Non-Academic Segment will dominate the market share during 2022-2028.

Driving Factors

"The Primary Reason Fueling The Expansion Of The Worldwide Market For E-textbook Rentals Is The Cost-Effective Pricing Plan"

One of the main factors influencing E-textbook rental market growth is cost-effective pricing plan. Many students all over the world spend a sizable amount of their budget on curriculum-specific books that are only available for a certain term or semester. As a result, more businesses are turning their traditional textbook curricula into electronic versions known as E-textbook s. Instead of purchasing these E-textbook s online, more students are choosing to rent them. Additionally, to make it easier for students to sign up for a rental subscription, E-textbook rental service providers like Chegg, BookRenter, and eFollett are supporting students with rental E-textbook services. The market is expanding as a result of this. During the projected period, it is anticipated that renting E-textbook s would considerably contribute to market growth due to its accessibility and affordability.

"The E-Textbook Rental Business Is Expanding As A Result Of More People Using Digital Devices"

One of the major factors propelling the E-textbook rental market growth is the rising use of digital devices. More and more students are switching to digital textbooks as a practical and affordable replacement for conventional print textbooks as a result of the growing usage of smartphones, tablets, and e-readers. Students may study and read their textbooks whenever and wherever they choose thanks to the ability to access e-textbooks on a range of gadgets, including smartphones and tablets. Students who are always moving about and don't have the time or room to bring around bulky print textbooks will find this to be very helpful. Additionally, as long as they have an internet connection, using digital devices has made it simpler for students to access e-textbooks from anywhere. As a result, students are no longer need to physically visit a bookshop or library in order to buy or borrow a print textbook.

Restraining Factors

"A Significant Obstacle To The Expansion Of The Worldwide Market For Renting Electronic Textbooks Is The Threat Posed By Open-Source Information"

With significant technical advancements and minimal entry hurdles, numerous niche businesses and a few well-established suppliers have begun to provide free online resources and teaching materials. This is because the current educational system needs to strike a balance between the rising costs of textbooks and other expenses. These players frequently provide their products for free, and they charge very little for information and E-textbook s. Additionally, a variety of publications are freely available online, and the material found in open sources is frequently used for scientific and technical publishing. Customers seldom ever subscribe to premium periodicals as a result. In addition to the free online information that is available, many users and customers are looking for educational resources and content on alternative websites that provide open-source materials at far more inexpensive pricing than the pricey monthly subscriptions. The E-textbook rental market growth is seriously threatened by these elements.

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E-Textbook Rental Market Regional Insights

"Due To The Overwhelming Majority Of People Living In The Asia Pacific Region, It Will Continue To Dominate The Market"

In the upcoming years, a considerable rate of growth is anticipated for the Asia Pacific E-textbook rental market. A variety of variables, including the expanding use of digital devices and the rising expense of schooling in the area, are driving the industry. The E-textbook rental market share is expanding as a result of rising consumer awareness of the convenience and environmental advantages of renting e-textbooks. China is anticipated to have the largest E-textbook rental market share in the Asia Pacific region for e-textbook rentals, followed by Japan and South Korea. This is a result of the significant student population and widespread use of digital gadgets in these nations. The e-textbook rental industry is anticipated to expand significantly in Southeast Asian, Australia, and India due to the growing use of digital technology in education. Overall, the Asia Pacific e-textbook rental industry is anticipated to expand significantly over the next few years as a result of a number of factors, including rising education costs, a rise in the use of digital devices, and expanding environmental concerns.

The market for renting electronic textbooks in North America has been expanding rapidly in recent years due to a variety of important causes, including a rise in the use of digital devices, rising educational costs, environmental concerns, and the need for convenience. Due to the abundance of universities and colleges in the country, which are continuously looking for innovative methods to cut costs and enhance the educational experience for students, the United States is the country that is most responsible for the highest E-textbook rental market share of the North American e-textbook rental industry. The industry is anticipated to expand over the next few years as a result of both the rising popularity of digital devices among students and the growing acceptance of e-textbook rentals by universities and colleges. Future market expansion is also anticipated to be fueled by rising environmental concerns and the practicality of renting e-textbooks.

Key Industry Players

"Key Players Focus on Partnerships to Gain a Competitive Advantage "

Prominent market players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolios.

LIST OF TOP E-TEXTBOOK RENTAL COMPANIES

• Bloomsbury (U.K)
• CengageBrain (U.K)
• Chegg (U.S)
• TextbookRush (U.S)
• Alibris (U.S)
• Amazon Kindle Unlimited (U.S)
• BookRenter (U.S)
• Barnes & Noble (U.S)
• IndiaReads (India)
• iFlipd (U.S)
• Oyster (U.S)
• Scribd (U.S)

Report Coverage

This research profiles a report with extensive studies that take into description the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by inspecting the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, and restraints. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.