Continual advancements in technology have changed the way libraries can sort, acquire, and deliver information to readers. A library management system is software that aids library owners in maintaining and simplifying their daily chores by automating library operations and services. It safeguards readers’ engagement with libraries by offering them benefits with respect to efficient self-service, feedback and comment consents, etc.
The global library management system market is presumed to show incremental growth due to the increasing automation of library functions, which offers convenience to library owners in managing informational resources. Thus, advancements in technology coupled with the benefits offered in terms of offering library services seamlessly and with a limited budget are driving demand for library management systems among library owners. The growing need for automated database management in libraries is further boosting demand for library management software, especially among public libraries. The market’s growth is also likely to be favored by the growing need for easy access to libraries through smartphones and other online platforms. All these factors are expected to elevate the demand for library management systems worldwide over the forecast period (2018–2026).
In view of the positive market outlook, vendors are focusing on expanding their presence in the market through mergers and acquisitions. For instance, in December 2015, ProQuest acquired Ex Libris Group. The acquisition has not only helped companies combine expertise and enhance their library management solutions but also helped libraries address some of their pressing challenges.
In terms of market value, North America dominated the global library management system market in 2017. The dominance of North America can be largely credited to the increasing number of online libraries, especially in the U.S. The trend is presumed to continue, and the region is expected to retain its dominance during the forecast period, registering strong growth in its revenue stream during the forecast period from 2018 to 2026. On the other hand, an increasing number of educational institutes combined with a growing focus on improving the quality of education is expected to augment the adoption of automated solutions, including library management systems, among schools and institutes in the Asia Pacific.
The global library management software market is segmented on the following basis:
- Academic Library
- School Library
- Public Library
- North America
- rest of North America
- Rest of Europe
- Rest of Asia Pacific
Rest of the World
- Middle East and Africa
- Latin America
Key players identified for the library management software market include, but are not limited to:
Civica, Innovative Interfaces, Inc., ProQuest, Sirsi Corporation, Axiell Group, Capita plc., CR2 Technologies Limited, Evergreen ILS, Follett Corporation, Infor, Insights Informatics Pty Ltd., Insignia Software, Invenio Business Solutions, Libramatic, Lucidea, PrimaSoft PC, PTFS, Inc., Soutron, and PowerSchool