e-Book penetration in the global market is rising, and readers have lots to say about it. On the one hand, electronic books present the perfect way to read. These sleek and sophisticated innovations are the ideal entertainment, learning, and informational accouterment. Already, 20% of the US population is estimated to have bought an e-book in 2023, with robust growth potential. In China, for example, the opposite trend exists: most people purchase e-books, and only a minority purchase paperback or hardcover books.
Source: https://www.statista.com/chart/24709/e-book-and-printed-book-penetration/
e-Book fans have several options, including Amazon Kindle, iPad, iPhone, PC, Android, and Mac devices. Of all the countries adopting the e-Book craze, China, the United States, Japan, Great Britain, and Australia lead the way. Countries like Spain, South Korea, Germany, India, and France also have an appetite for e-books, but to a much smaller degree. It is worth pointing out that Japan, Great Britain, Australia, Spain, South Korea, Germany, India, and France much rather prefer printed books.
According to the Pew Research Center (January 6, 2022), 75% of Americans will read a book in any format, while 65% prefer a print book. 30% of readers will read an e-book, and 23% listen to audiobooks. Barely a few years ago, audiobooks and e-books were the musings of overactive imaginations, but today they are an increasingly accessible, cost-effective alternative to traditional print books.
Source: https://www.pewresearch.org/short-reads/2022/01/06/three-in-ten-americans-now-read-e-books/
Beyond Words: Audiovisual Electronic Entertainment
Audiovisual entertainment comes in many different forms, notably social casino games. Unlike online casinos and traditional casinos, social casino games are free to play at a premier provider like PlayFame. It’s a paradigm shift from the norm and welcomed by all legal-age players worldwide. The authentic Vegas-style milieu makes social casino games entertaining with no risk of loss. All the action flies fast and furious to your screen, just like a traditional online casino. Of course, a gold coin system is used to play the games. All players are welcome to take advantage of a super-sized offer of free GCs. There is also a unique SC offering available to players – these are sweepstakes coins.
The social aspect of these audiovisual electronic entertainment options is world-class, featuring dedicated pages on Facebook, Instagram, X.com, and TikTok. Players can easily share details of their gaming pursuits with fellow players 24/7. But it’s the gaming variety that truly dazzles the senses. A world-class selection of top-notch slots, card games, table games, and live dealer games is offered. Wins accruing with SC coins are eligible for real money cashouts (subject to terms and conditions, minimum withdrawal amounts, etc). These multivendor platforms are bubbling over with great games and super-sized jackpots thanks to various software providers.
PR newswire issued a social casino global market report for 2024 – 2028 & 2033. The report indicates that the worldwide social casino market is growing, from $7.39 billion in 2023 to $7.99 billion by 2024. The compound annual growth rate is forecast at 8.1%. By 2028, stronger growth is expected, with $11.20 billion anticipated at a CAGR of 8.8%. Social casino games are enjoying a purple patch thanks to increasing Internet usage worldwide. In India for example, 25 million new smartphone users entered the market during each quarter of 2021, bolstering the market penetration of social casino games. Similar statistics are evident across many countries, while developed markets have noted solid single-digit growth in social casino games adoption.
Virtual Reality: The Next Frontier in Electronic Entertainment
Virtual reality (VR) adoption among the gaming, tech, medical and media community etc., has been growing at a steady clip for many years. As technology advances, so VR transforms the landscape for the better. It makes it much easier for individuals to interact with a virtual environment by way of full immersion capabilities. Things like gaming, education, medical, and tourism are all dabbling in VR technology. From an entertainment POV, VR is all the rage. When linked with augmented reality (AR) it presents as a world changing system. The VR market report indicates that the market size as of 2023 was $79.36 billion, with revenue forecast to grow to $435.36 billion by 2030.
The leading companies in the VR space include Meta Platforms Incorporated, Alphabet Incorporated, Barco NV, Microsoft Corporation, Sixense Enterprises, Samsung Electronics, HTC Corp, and CyberGlove Systems Inc. VR devices include headmounted displays, projectors and display walls, and gesture tracking devices. As with the technology itself, it is either non-immersive, or semi-& fully immersive. In terms of market share, Asia-Pacific makes up the largest revenue share of the industry at 39% (2022 figures), but the fastest-growing markets include the United States, Canada, Latin America, and Africa. These are some of the exciting trends from the rapidly evolving VR space.
Source: https://www.grandviewresearch.com/industry-analysis/virtual-reality-vr-market
Stay tuned! Many developments are currently taking place in the electronic entertainment industry. Holographic gaming and 3D entertainment, Matrix-style simulations, and more wild tech may be closer than we think!
