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Library Management System Market Growth, Future Prospects & Competitive Analysis, 2018 - 2026

Overview:

Continual advancements in technology has changed the way libraries can sort, acquire, and deliver information to readers. Library management system is a software that aids library owners in maintaining and simplifying their daily chores by automating library operations and services. It safeguards reader’s 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 an incremental growth due to increasing automation of library functions offering convenience to library owners in managing informational resources. Thus, advancements in technology coupled with benefits offered in terms of offering library services seamlessly and with limited budget is driving demand for library management systems among library owners. Growing need for automated database management in libraries is further boosting demand for library management software, especially among public libraries. The market 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 is expected to elevate demand for library management systems worldwide over the forecast period (2018 – 2026).

In view of 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 to combine expertise and enhance their library management solutions, but also libraries to 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 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 revenue stream during the forecast period from 2018 to 2026. On the other hand, increasing number of educational institutes combined with growing focus on improving the quality of education is expected to augment the adoption automated solutions including library management systems among schools and institutes in Asia Pacific.

The global library management software market is segmented on the following bases:

  • Deployment Type
    • On-premise
    • Cloud
  • End User
    • Academic Library
    • School Library
    • Public Library
  • Geography
    • North America
      • U.S.
      • Rest of North America
    • Europe
      • U.K.
      • Germany
      • France
      • Rest of Europe
    • Asia-Pacific
      • Japan
      • China
      • India
      • Australasia
      • Rest of Asia Pacific
    • Rest of World
      • Middle East & Africa
      • Latin America

Key players identified for 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

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