I think it will be a long time before we see that. There is a lot of money in the book market, too much to simply disappear. Eventually I think it is feasible to see e-books overtake paper books, but not for a while. As a new developing technology, it will take e books a while to gain status and reputation, two things that paper books already have in spades.
Honestly, sometimes having the physical book outweighs the convenience of an e-book What happens if your computer crashes and you don’t have an extra copy? You may need information for an assignment or for something really important. You may not always be able to access the internet to retrieve it if your connection is down unless you printed pages. I ordered an e-book once and discovered I had to choose whether I wanted to strictly read it online or be able to print the content. That is probably going to be my last e-book unless I it’s for academic purposes and necessary.
I don’t think E-books will ever outsell paper books. There is something that feels classic about a paper book and many people have become accustomed to this. E-books may be able to do things conventional books can’t, but paper books have their pros too. On e-books, you are limited to an area with a power source. Also, the screen can break, and adding an e-book to travel and vacation gives you one more thing to lose.
Hopefully never, however upcoming generations will have increased interactions with ebooks and reading from a computer screen. I believe paper books will become an rarity.
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