Google Editions

Google opened its long-anticipated Internet book store Monday, putting itself in direct competition with Amazon.com. Buyers can read its 3 million e-Books on any Web device or reader -- except on Amazon's Kindle.

Google is joining the fray, finally entering the crowded world of e-books alongside Amazon, Barnes & Noble, and Apple. It is a little late to the party, but the world's largest search company has an inherent advantage over its competition.

Google has promised to enter the exploding e-book market for some time, and as of this summer, that promise, in the form of Google Editions, will become reality -- and sets Google up as a formidable player doing battle with Apple and Amazon in the digital publishing world.

Amazon's current 90% share of the e-book market will plummet to 35% over the next five years, according to predictions from Credit Suisse analysts. That sounds alarming, but on closer inspection, the prognosis should have Amazon uncorking the champagne. Here's why.