In a recent published report, Kenneth Research has updated the market report for Library Management Software Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Library Management Software Market products.
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The Library Management Software Market was valued at USD 2.23 billion by 2017, growing with 3.4% CAGR during the forecast period, 2018-2025.
Library management software is used to manage the whole library. Thus it becomes easy to get information about the books present in the library to the readers as well as to the staff. The Worldwide market of library management software is anticipated to witness an upsurge due to the ever-increasing necessity of bringing about the automation of library operations that facilitates better administration of information resources.
Software development is a crucial aspect that is likely to be instrumental in bringing about sustainable market growth during the projection period that delivers well-organized supervisory solutions. Moreover, as the steady increase in the smartphone market and mobile applications that are combined over innovative library systems technologies deliver advantages such as online subscription and SMS alerts which will drive the industry.
Apprehensions over unauthorized access and data privacy are likely to hinder the progress of the market for library management software. However, definite practiced standards of protocols and values can be executed for minimizing the possibility of a data breach. Also the popularity of open-source library management can hamper this market all over the world.
“Final Report will add the analysis of the impact of COVID-19 on this industry.”
The demand of on-premises solutions for giving comfort and suitable environment coupled with increase in number of students will accelerate the market in near future. The demand of cloud-based library management software will also boost in near future as end-users need vendors who can take care of their data present in cloud.
Services are divided into Library Automation, Barcode Generation, Transaction Management, Database Management, and Others. As per the market report of the the global library automation service systems, the forces perpetuating the growth of the market are the surging demand for automation services and the necessity for efficient database management systems. In addition, the increase in the use of Information and Communication Technology (ICT) for automation of core functions, resource sharing, and automated cataloguing are factors further expected to drive growth of the library automation service systems market.
End User Takeaway
Based on end-user the market is segmented into School library and Public Library. The school library section embodied the biggest market share owing to the pronounced requirement for libraries internationally. It is also projected that the section will grow faster during the forecasted period due to the increasing number of universities and schools on a global scale. Besides, it is extensively used for learning commitments that comprise reports, journals, magazines, and articles. It is probable that the improved conditioning of students to assemble and contrive fresh info, for preparatory studies, projects, various competitions and will provide impetus to the market throughout the projection period.
Public library makes a significant contribution for the bulk of the market share and is estimated to observe profitable resurgence through the estimated period due to attributes like interface for multiple languages, compatible with several formats and ease of use across multiple devices and platform as and when needed. However, it is projected that the augmented usage of the Internet in emerging economies will escalate the demand for cloud-based software. On the other hand, it is quite possible that their disposition in intended facilities matures at a comparatively sluggish rate throughout the estimated period owing to the growing paradigm shift towards cloud-oriented solutions all over the world
North America has the largest market share throughout the forecast period which could be attributed to reasons, such as growing use of online library information online together with comparative simplicity of usage and working adeptness is projected to catapult the market in the region. Besides, the Asia Pacific market will witness growth at the maximum CAGR rate through the forecast period, considering the rising number of scholastic organizations and their conditioning to new technologies.
The rising demand for library management software in the Asia Pacific is anticipated to promote upsurge market in market development throughout the forecast period. Besides, there is a comparative progression in the usage of libraries in South East Asia, with main countries like Japan, India, and China. It is expected that the industry will flourish in Africa, the Middle Eastern region, South and Central America, will witness a sturdy development all through the anticipated period owing to the rising consciousness about the need of education.
Key Vendor Takeaway
Key players profiled in the global library automation service systems market report are CR2 Technologies Limited, Book Systems, LIBSYS, Equinox Open Library Initiative, PrimaSoft PC, The Library Corporation, Library Automation Technologies, Agent Information Software, OCLC, PTFS, Infor, Capita plc, Ex Libris Limited, and Sirsi Corporation.
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In the coming years, stalwarts of this industry will strengthen their existence in the regions where library management software has not yet penetrated the market. Hence, the region around the Asia Pacific presents comparatively high development prospects, with major emphasis on China and India. Major players in the market include Innovative Interfaces, Civica, ProQuest, SirsiDynix and Follett.
The market size and forecast for each segment and sub-segments has been considered as below:
Historical Year – 2014 & 2016
Base Year – 2017
Estimated Year – 2018
Projected Year – 2025
Traders, Distributors, and Suppliers
Government and Regional Agencies and Research Organizations
SCOPE OF THE REPORT
The scope of this report covers the market by its major segments, which include as follows:
MARKET, BY DEPLOYMENT
MARKET, BY SERVICE
MARKET, BY END-USER
MARKET, BY REGION
Rest of Europe
Rest of APAC
Rest of the World
Middle East and Africa
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