Of course, all this data is really just a best guess from some of the best financial minds in the world -- and no one can truly predict the future. So the numbers could vary significantly. But my best guess is that the ebook market will be between $9-$12 billion, physical books will be $8-$10 billion, and audiobooks will be $400 million to $2 billion (I believe audiobook sales will grow much faster over the next few years than the experts project due to innovations in audiobook technology that will make it easier than ever to create, purchase and listen to audiobooks.)
Regardless of how accurate the actual numbers are, everyone who knows anything about the industry knows three things for sure:
1) Ebook sales will increase dramatically
2) Audiobook sales will increase dramatically
3) Physical book sales will decrease dramatically
And even though we've only discussed the US market here, the same holds true for every other major book market in the world -- the UK, Europe, Asia and South America. Ebook and audiobook sales will continue to grow rapidly while physical book sales will continue to decline rapidly.
So what does all this mean for authors like you and me? It means one thing for sure: if you're hoping to earn a living selling physical books through the old and outdated traditional publishing system, your chances of success are poorer than ever before and only going to get worse!
On the other hand, if you plan on selling ebooks over the next few years, chances are you will join the huge pool of authors who are earning a significant income selling ebooks. As they say, "a rising tide floats all boats." And trust me when I tell you -- the tide of ebook sales has only just begun, and will continue to rise rapidly.
The only question is -- will you join us?
[Excerpt from Secrets of the Six-Figure Author, now the #1 Bestseller in Authorship on Amazon.com]