The library management software is an integrated solution for resource and enterprise management to reduce complexities in library management. The need for automation in library management and easy access to library platforms through mobile phones, tablets, and other smart devices are fueling the demand for library management software. These factors are collectively expanding the global library management software. Library management software is deployed in various academic institutions and non-academic institutions. The software helps to reduce the complexity and operational cost by keeping track of all transactions which involve book tracking, bills, and customer's data.
The global library management software market size is predicted to reach over USD 2.56 billion by 2028. This can be ascribed to the growing demand for the adoption of library management software due to automation in library functions, the software also provides a mobile solution that is replacing the existing system. The increase in the use of smartphones and providing mobile-based solutions that are receiving SMS alerts and online subscriptions are the key factors driving the market growth for the library management software market.
However, the data security issue is hampering the market growth. Furthermore, the increase in the adoption of machine learning, cloud computing, and artificial intelligence is likely to provide lucrative development opportunities for the library management software market in the forthcoming years.
Library Management Software Market Scope
|Forecast Unit||Value (USD)|
|Revenue forecast in 2028||USD 2.56 billion|
|Growth Rate||CAGR of 4% during 2021-2028|
|Segment Covered||Deployment, End User, Regions|
|Regions Covered||North America, Europe, Asia Pacific, Middle East and Africa, South America|
|Key Players Profiled||Innovative Interfaces Inc., Book Systems Inc., ProQuest LLC, CR2 Technologies Limited, Capita plc, Insight Informatics Pty Ltd., Sirsi Corporation, and PowerSchool|
Key Segments of the Global Library Management Software Market
Deployment Overview, 2021-2028 (USD Million)
End User, 2021-2028 (USD Million)
- School Library
- Public Library
- Academic Library
Regional Overview, 2021-2028 (USD Million)
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia-Pacific
- Middle East and Africa
- Saudi Arabia
- Rest of MEA
- South America
Reasons for the study
- The purpose of the study is to give an exhaustive outlook of the global library management software market. Benchmark yourself against the rest of the market.
- Ensure you remain competitive as innovations by existing key players to boost the market.
What does the report include?
- The study on the global library management software market includes qualitative factors such as drivers, restraints, and opportunities
- The study covers the competitive landscape of existing/prospective players in the Library Management software industry and their strategic initiatives for product development.
- The study covers a qualitative and quantitative analysis of the market segmented based on deployment, and End User. Moreover, the study provides similar information for the key geographies.
- Actual market sizes and forecasts have been provided for all the above-mentioned segments.
Who should buy this report?
- This study is suitable for industry participants and stakeholders in the global Library Management software market. The report will benefit Every stakeholder involved in the library management software market.
- Managers within the Library Management software industry looking to publish recent and forecasted statistics about the global Library Management software market.
- Government organizations, regulatory authorities, policymakers, and organizations looking for investments in trends of the global library management software market.
- Analysts, researchers, educators, strategy managers, and government institutions looking for insights into the market to determine future strategies.
The increasing automation of library functions and software development are key factors for driving the market over the forecasted period as it provides a well-organized solution. Further, the use of smartphones is increasing as mobile applications can be used to deploy a new library system in mobile phones that provide benefits of SMS alert and online subscriptions. The software provides convenient library solutions thereby replacing the existing structure. The use of software in the market is acting as fuel for the growth of the market.
The library management software will offer a broader range of library service platform options and newer unparalleled features for its users. The new platform delivers library experiences that are designed to meet people’s expectations of modern media and software solutions. The cloud-based library is been adopted by the institutions and the pay-as-you-go model is boosting the need for cloud-based library.
The market is consolidated as several major market players currently hold the major market share. However, the market is expected to become fragmented in the forthcoming years as several new market players are emerging from developing countries such as India, Japan, China, and other countries.
Based on the Deployment segment, the market is bifurcated into cloud-based and on-premise. In 2020, the cloud-based accumulated the maximum market share and it is likely to continue its dominance throughout the forecast years. However, the On-premise segment had projected to attain major growth throughout the previous years owing to the increasing need to provide uninterrupted on-premise services.
End User Segment
Based on the End User, the market is segmented into School Library, Public Library, Academic Library, and Others. The school library seized the maximum market share in 2020 and it is likely to maintain its place throughout the forecast years. The growth of this segment is largely ascribed to the ease of use and user-friendly. The Public Library and Academic Library were able to drive the market growth in the previous years.
The North American region is likely to account for the maximum market contribution during the forecast years. The domination of this region is largely ascribed to the adoption of the software to provide high quality education and demand for automatic library management software industry are key factors for market growth. However, the Asia-Pacific is likely to gather noteworthy growth through the forecast years 2021-2028. The growth of the Library Management software market in this region is mostly ascribed to the growing adoption of latest technology in countries such as India, Japan, and China to compete against other regional players.
The major players of the global Library Management Software Market are Innovative Interfaces Inc., Book Systems, Inc., ProQuest LLC, CR2 Technologies Limited, Capita plc, Insight Informatics Pty Ltd., Sirsi Corporation, PowerSchool, and Others. Renowned companies are offering new and modern library management software software. Besides, the previously recognized as well as new market players are approaching the market with advanced and new strategic On-premise and Cloud-based and to remain competitive in the global market.