Library Management Software Market by End-user and Geography — Forecast and Analysis 2020–2024
The library management software market size has the potential to grow by USD 436.71 million during 2020–2024, and the market’s growth momentum will accelerate during the forecast period.
This report provides a detailed analysis of the market by end-user (school library, public library, academic library, and others), deployment (cloud-based library management software and on-premises library management software), and geography (North America, APAC, Europe, MEA, and South America). Also, the report analyzes the market’s competitive landscape. It offers information on several market vendors, including Civica UK Ltd., CR2 Technologies Ltd., ICV Partners LLC (SirsiDynix), Insight Informatics Pty Ltd., PowerSchool Group LLC, PrimaSoft PC Inc., ProQuest LLC, PTFS Inc., Soutron Ltd., and Tech-Receptives Solutions Pvt. Ltd.
The global library management software market forecast report compiled by market research analysts at Technavio predict that this industry will grow steadily over the next four years and post a CAGR of about 4% by 2024. This market research analysis identified the rise in demand for library management software from APAC as one of the key growth factors for the global library management software market. Although the library management software has a sturdy base in North America, the software is becoming prevalent in APAC. With the presence of growing economies such as China, India, and Japan, the companies in APAC are showing an increased interest in investing in library automation and library management software. One of the major library automation solutions providers, CR2 Technologies, has already introduced a cloud-based integrated library automation solution that can be used to develop a knowledge platform for the education and healthcare sectors.
In addition to books and research papers, several private and public libraries have started focusing on providing digital newspapers and magazine content. For instance, the San Francisco Public Library adopted the use of e-news center, and this allows the users to access newspapers and digital magazines using mobile devices such as iPads. Since such developments will enable several users to access the same content at the same time, there will be a considerable increase in the need for a high level of automation to manage huge volumes of digital content, which in turn, will augment the growth prospects of the library management software market.
