The global library management software market size is likely to attain over USD 2.56 billion by the year 2028. Besides, it is likely to project a CAGR of nearly 4% during the forecast years 2021-2028. The library market is driven by the increasing demand of shippers to have access to dashboards, reports, and other important measurements that provides better business decision making. Further, technology such as RFID, provides wireless identification of books, book drop box and anti-theft systems is driving the library management market.
The present and future of library market progress is summarized to conclude the attractiveness of the entire market. Also, prime factors that influence the library management market opportunities during the forecast year are factors such as solutions that provide mobile access to library-linked content, increase in adoption of open-source library, and mobile applications combined with library to receive SMS and alert and online subscriptions are expected to drive the library management software market.
The rising usage of advanced technology with rise in automation, and the growing demand for database management systems in libraries are boosting the growth of the library management market. The library market is primarily driven by platforms and tools to handle customer’s changing preferences and the rise in need for better customer handling and support.
The report also emphasizes several distinctiveness of the global library industry by valuing the market from value chain breakdown. Moreover, the report encompasses numerous qualitative features of the library industry which comprises market restraints, drivers, as well as key industry opportunities. Furthermore, the report offers an inclusive evaluation of the company profiling along with the market rivalry of local and global vendors.
The library management market has tough competition among the new emerging and pre-established market vendors. Besides, the library industry vendors are trying to capture the prospective markets to grab a competitive advantage over the remaining industry vendors. To capture the market, market players are forming agreements, acquiring other companies & startups, mergers & acquisitions, partnerships & collaboration, and escalating their business existence.
In terms of the deployment, the market is categorized into cloud and on-premise. The cloud segment is predicted to achieve the largest growth during the forecast years 2021-2028. The cloud computing seized the maximum market share in 2020 and it is likely to maintain its place throughout the forecast years.
North America is likely to gather noteworthy growth through the forecast years 2021-2028. The growth of the library market in this region is mostly ascribed to the presence of educational institutes in this region an adoption of key players in this area by companies in countries such as the US and Canada to compete against other regional players. However, the Asia Pacific region is likely to account for the maximum market contribution during the forecast years. The domination of this region is largely ascribed to the high degree of digitalization.
The major players of the global library market are Innovative Interfaces Inc., Book Systems Inc., ProQuest LLC, CR2 Technologies Limited, Capita plc, Insight Informatics Pty Ltd., Sirsi Corporation, and PowerSchool. Renowned companies are offering new and modern library software solutions. In addition, the previously recognized as well as new market players are approaching the market with advanced and new strategic services and solutions and to remain competitive in the global market.
Segment Overview of Global Library Management Software Market
Deployment Overview, 2021-2028 (USD Million)
- Cloud Based
End User Overview, 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