In another thread, AC Crew posted a link to a study that showed a bit more balanced perspective - notwithstanding predicting gloom, if not necessarily doom, for the publishing industry.
By 2014, the research note predicts, e-books will occupy some 13 percent of U.S. book publishing revenue, more than twice its current level.
So today the ebook market in terms of revenue is somewhat less than half of 13% according to the research. That is very dramatic growth, but nevertheless, print books still generate roughly 94% of revenue today and, if the research is correct, will still generate 87% in 2014.
A February study by Pew Internet suggests why this is the case. It found that ereaders, either eink devices or tablets were each owned by roughly 5% of American adults. (It didn't break down how many of each five percent owned both Kindle and iPad.) So somewhere between 5 and 10% of all adults own at least one ereader. That would fit reasonably well with the revenue figures quotes in the previous research.
Generations and their gadgets
I did my own wholly non-statistically significant study. Between May of last year and now my blog sold roughly 1,000 books through the Amazon Associates program. 85% were print and 15% were Kindle. (By revenue, the figure was 90% print and 10% Kindle.)
The conclusion I draw from all of this is that the ebook market is growing dramatically but print is still around and will be for some time. I suspect that in the world of fiction, the opportunities for traditional and self-publishing of ebooks are significant and likely to increase. Nevertheless, while we may be at the dawn of a new era, the sun has not yet fully risen.